Stimulus Gives Billions In Healthcare Spending Unrelated to COVID-19

The healthcare industry will receive billions of dollars unrelated to the pandemic as part of the $2 trillion stimulus package intended to target the coronavirus crisis. 

Congress has reversed scheduled cuts in Medicaid and Medicare, according to Fortune. About 3,000 hospitals that treat larger numbers of Medicaid and uninsured patients will share $8 billion via a stimulus provision that reverses cuts in their Medicaid payments for 2020 and 2021. Hospitals will also have access to an additional $3 billion due to a temporary suspension of a 2% cut in Medicare fees.

The $2 trillion legislation also includes $100 billion in emergency funds to compensate hospitals and healthcare providers for lost revenue and costs associated with COVID-19. The bill allows for spending up to $16 billion directed at the depleted stockpile of medical supplies, such as ventilators, medicines, and personal protective equipment, or PPE.