The entire country’s eyes are turned towards our hospitals, many overwhelmed with Intensive Care Units at capacity, running short on ventilators and Personal Protective Equipment (PPE). Many assume that, despite the exhaustion or supply troubles, the healthcare industry might be booming. The reality however is that it is being hit as bad as every other industry.
Routine visits have been nearly universally cancelled, check-ups or follow-ups have been delayed. Except for those directly involved with the treatment of COVID-19, regular business has ground to almost a halt. Obstetricians are not seeing patients other than those currently pregnant, radiologists are reading a fraction of the normal X-rays or CT scans.
Many doctors and nurses are actually being furloughed or laid off completely. For many doctors, who are among the highest income earners, this is a double whammy with the loss of income and requirement that they now pay for their malpractice insurance which is no longer paid by their practice or group. It can mean a swing of $100,000 in the course of a couple weeks. Even those that make multiple six-figures may have trouble with those kinds of numbers.
All of that is why it was so critical that hospitals and medical practices get covered in the recent Coronavirus Aid, Relief, and Economic Security (CARES) Act recently passed by Congress and signed by President Trump.
On Friday, HHS released the first $30 billion in funding from the total $100 billion allotted to providers as part of the CARES Act bill. Senators David Perdue (R-GA) and Kelly Loeffler (R-GA) announced that Georgia would be receiving $792 million in funding to Georgia hospitals and health care providers enrolled in Medicare.
“Our first and main line of defense against the coronavirus is our hospitals, health care facilities and medical professionals,” said Senator Loeffler. “This funding is critical to supporting those on the front lines and keeping Georgians safe and healthy. This is a direct result of our work to pass the CARES Act in Congress and I remain committed to doing everything in my power to get our state the resources it needs throughout this crisis.”
The funding will be used to both support healthcare-related expenses and lost revenue related to the COVID-19 virus. In order to deliver the funding as quickly and as simply as possible, the original round of $30 billion will go to those providers enrolled in Medicare. This funding will be considered as payments, not loans, and thus not need to be repaid. Once this is all over, there still needs to be a healthcare system.
“Georgia’s medical providers are currently on the front lines of one of the most serious public health emergencies in our nation’s history,” said Senator Perdue. “This crisis has put severe financial strain on local hospitals, and many in rural areas are quickly running out of cash for supplies and payroll. This funding will help stabilize hospitals across our state so providers can stay focused on what matters most: the health and safety of their patients.”
