COVID-19, Independent Pharmacy Accounting, Sykes Top Picks, Pharmacy Accounting

CARES Act Provider Relief Fund & HHS Stimulus – Uses and Management

By now, pharmacies may have received two distributions from the CARES Act provision known as the Medicare Provider Relief Fund, which allocates automatic stimulus grants to providers that billed Medicare Fee-for-Service (MFFS) in 2019 or have provided COVID-19 related services in 2020.

We recently created a video and shared it with members of the National Community Pharmacists Association to help community pharmacists understand the terms and conditions under the relief program, proper uses for funds they may have received, and how to account for those funds.

In this 30-minute video, Scotty Sykes, CPA, CFP,® outlines the newest information about the program — including important deadlines and sources of additional information.

View the video

If your pharmacy also received EIDL funds, see our video on managing those funds.


 

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