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19 CFO / FINANCE $1B+ in bailout funds go to CHS, HCA & UHS By Ayla Ellison C ommunity Health Systems, HCA Healthcare and Univer- sal Health Services received a total of more than $1 billion from the $100 billion emergency relief fund for health- care providers created under the Coronavirus Aid, Relief and Economic Security Act. e three for-profit hospital operators disclosed the grants during their first quarter earnings calls. Each company also received advance Medicare payments to help offset the financial impact of COVID-19. e advance payments are loans that must be repaid, while the grants do not require repayment. Here is a breakdown of the grants and advance payments each compa- ny had received at the time of their earnings call: Community Health Systems (Franklin, Tenn.) CARES Act grants: $245 million Medicare advance payments: $1.2 billion During CHS' earnings call on April 29, Executive Vice President and CFO Kevin Hammons said the company has ample liquidity to get through the COVID-19 crisis due to the CARES Act grants, proceeds from hospital divestitures, current cash on hand and additional bor- rowing capacity under its asset based loan. HCA Healthcare (Nashville, Tenn.) CARES Act grants: $700 million Medicare advance payments: $4 billion During HCA's earnings call on April 21, Executive Vice President and CFO Bill Rutherford said HCA's cash position is strong due to several factors, including the CARES Act grants, accelerated Medicare pay- ments, adjustments to capital spending and suspension of the compa- ny's share repurchase program. Universal Health Services (King of Prussia, Pa.) CARES Act grants: $195 million Medicare advance payments: $375 million During UHS' earnings call on April 28, Executive Vice President and CFO Steve Filton said the grants the company has received are from the first two tranches of CARES Act funding. He said the company is hoping to receive additional advance payments from Medicare. n We Help Hospitals Save Millions of Dollars While maintaining clinical excellence. Our team of 2,500+ experts provides pharmacy management solutions to 800+ healthcare organizations nationwide. We bring excellence to client facilities that allows them to operate at peak efficiency while lowering costs and enabling top clinical quality. PHARMACY MANAGEMENT PHARMACY CONSULTING SPECIALIZED PHARMACY SVCS TELEPHARMACY 340B PROGRAM COMPLIANCE SUPPLY CHAIN REHABILITATION SERVICES SPECIALTY & AMBULATORY contactus@cpspharm.com | 800.968.6962 www.cpspharm.com We support clinical, operational, regulatory and financial success for clients. We are a true partner in advancing care – one patient at a time. 02750_CPS_Beckers_3.875x10.875_FInal.indd 1 02750_CPS_Beckers_3.875x10.875_FInal.indd 1 5/6/20 4:44 PM 5/6/20 4:44 PM