The CARES Act: Understanding Expectations for Healthcare Providers
The common narrative regarding COVID-19 is that this is an unprecedented crisis. However, the world has endured several seemingly unprecedented events over the past 20 years. During past crises, the government has responded with significant stimulus programs. Lawmakers, for example, made clear in 2009 that financial institutions were ‘‘too big to fail.’’ Similarly, the CARES Act, signed into law on March 27, 2020, clearly amplifies that healthcare is ‘‘too important to fail.’’
This article explores how providers can best leverage funding received both to provide financial relief for costs and lost revenues associated with COVID-19 and meet HHS’ requirements.