To compensate for financial losses caused by the COVID-19 pandemic, the government provided several funds and policies to ease the burden on healthcare providers.
Here is a breakdown of the main sources of funding by the numbers, according to a Jan. 27 report by the Kaiser Family Foundation:
1. Congress created the Provider Relief Fund to offset financial losses during the pandemic, of which it has distributed $143 billion of the total $178 billion authorized by Congress. HHS plans to allocate another $6 billion in early 2022.
2. For providers in rural areas, the American Rescue Plan has provided $7.5 billion of the total $8.5 billion in the fund. The remaining $1 billion is anticipated to be distributed in early 2022.
3. Between May 1, 2020, and March 31, 2022, Congress waived the automatic 2 percent reduction in Medicare payments.
4. Congress also delayed a 4 percent reduction in Medicare payments until 2023.
5. Physician payments increased by 3 percent in 2022 through the Medicare Physician Fee Schedule payments.
6. Congress created the Paycheck Protection Program, which gave healthcare about $100 billion in Paycheck Protection Program loans.
7. Inpatient COVID-19 admissions received a 20 percent increase in Medicare payments during the public health emergency.