House passes COVID-19 relief bill with $100B for hospitals

The U.S. House of Representatives passed a $3 trillion COVID-19 relief package May 15 that includes aid for hospitals and funds to expand access to COVID-19 testing. 

Advertisement

The 1,800-page Health and Economic Recovery Omnibus Emergency Solutions Act provides nearly $1 trillion for state and local governments, $100 billion in grants for hospitals and medical providers, $75 billion for COVID-19 testing and contact tracing, and relaxes repayment terms for Medicare advance payments. 

“With the addition of $100 billion in emergency aid, the HEROES Act would bring vital support to our hospitals as they continue to grapple with the pandemic’s enormous medical, logistical, and financial challenges,” said America’s Essential Hospitals President and CEO Bruce Siegel, MD. “We also appreciate lawmakers’ forward-thinking approach, which considers how long it will take hospitals to regain their financial footing.”

The sweeping legislation passed 208-199. Though the Republican-led Senate isn’t expected to consider the relief package in its current form, House Speaker Nancy Pelosi, D-Calif., signaled she is open to negotiating, according to ABC News. 

More articles on healthcare finance:
COVID-19 pushes CommonSpirit to $1.4B loss in Q3
CMS offers hospitals $1.9B in incentive payments
Hospitals blast CMS decision to double down on price transparency

Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.