JACKSONVILLE, Fla. — More than one billion dollars has been set aside for hospitals and health care systems in the latest version of the Federal CARES Act.
The total bailout fund is about $175 billion dollars, Action News Jax found $1.2 billion of it will be disclosed to hospitals and health care systems that have been significantly impacted by the COVID-19 pandemic.
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The University of North Florida Master of Health Administration Program director and professor, Dr. Rob Haley, said this funding provides tremendous relief to hospitals.
“Because of the coronavirus, hospitals were asked to delay elective services. So there’s a lot of income hospitals could’ve made through elective services that now they don’t have,” Dr. Haley said.
If a hospital is in need of funding, they can either apply for the federal CARES Act that doesn’t have to be repaid, or Advanced Medicare services that function as a loan.
According to an Axios, $150 million of federal bailout funds will go to Mayo Clinic.
Action News Jax reached out to Mayo to ask if any of those funds will be distributed to their clinic in Jacksonville. A representative said he is working to find out. In a statement he said, “Nothing has changed due to mayo clinic’s financial stabilization efforts including furloughs and salary cuts.”
Starting in early May, May Clinic said about 300,000 employees across all locations will receive some type of furlough, and the duration will depend on each work group.
Action News Jax reached out to other community hospitals to find if they will also receive funding. A representative at UF Health said they will receive $14.5 million in stimulus funding and another $79 million in Advanced Medicare, which will have to be repaid.
Baptist Health told Action News Jax it has received more than $38 million in CARES Act grants, and over $134 million in Medicare advance payments.
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