The CARES Act provides $200 million in funding to facilitate telehealth services, specifically in the following areas:
- Telecommunication services including broadband connectivity and voice services
- Information services including internet connectivity, remote patient monitoring, platforms for synchronous video consultation, and electronic storage services for asynchronous transfer of patient images and other data
- Connected devices including smart phones, tablets, and certain patient monitoring devices
These funds are limited to eligible nonprofit and public healthcare providers subject to categories listed in section 254(h)(7)(B) of the 1996 Act:
- post-secondary educational institutions offering health care instruction, teaching hospitals, and medical schools
- community health centers or health centers providing health care to migrants
- local health departments or agencies
- community mental health centers
- not-for-profit hospitals
- rural health clinics
- skilled nursing facilities
- consortia of health care providers consisting of one or more entities falling into the first seven categories.
In order to be eligible for the program, providers are required to obtain a Federal Communications Commission (FCC) registration number. To do so, you can register here. After receiving this number, the provider can complete the funding application form which can be found at https://www.fcc.gov/covid-19-telehealth-program. It should be noted that eligible items and services need to have been purchased on or after March 13, 2020 to qualify for reimbursement. In addition, the program requires recipients to comply with various rules, including reporting requirements and compliance audits.
For more information on telehealth and transaction advisory services pertaining to telehealth provision and equipment, we encourage you to contact one of our experts today.
The information provided herein is accurate as of the date of entry and relies on data available at the time of writing. Given the rapidly changing environment, the information provided is intended as a resource only and should not replace direct consultation of relevant laws, policies, and guidelines. HMS Valuation Partners is committed to ensuring that clients have accurate and up-to-date information and is closely monitoring any changes in policy and practice relevant to COVID-19.