News & Insights
Mar 27, 2020
Rural and community hospitals could fill a major gap in a healthcare system that will likely be overloaded, in varying degrees, for at least the next 18 months due to the COVID-19 global pandemic. Congress is in the process of passing the Coronavirus Aid, Relief, and Economic Security Act (“the Cares Act”) that provides unprecedented relief designed to help business in general, but specific allocations for hospitals. Many of the benefits require no action by hospitals, such as a 20 percent increase in reimbursement for treatment of COVID-19 patients, a delay of scheduled Disproportionate Share Hospital (DSH) reductions and limitation of liability for volunteer health care professionals during COVID-19 crisis. However, some important assistance under the Cares Act will require prompt action by hospitals to benefit including:
Additionally, small business loans up to $2 million may be available from the U.S. Small Business Administration under the Coronavirus Preparedness and Response Act.
Please do not hesitate to contact us if you have any questions about these opportunities, if we can connect you with banks that have SBA programs, or if we can be of assistance in any way regarding your preparedness or employment advice during this difficult time. This will be a prolonged effort, and we at Waller have been a leader representing hospitals for over 50 years and we are committed to helping you navigate these challenges and advance your business and community missions and goals.
For additional legal resources and answers to some frequently asked questions, visit our Coronavirus portal.
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