The recently passed “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) is sweeping legislation that will have widespread impact on companies in the health care and life sciences space. In addition to expanding coverage of COVID-19 testing and preventive services, the Act includes provisions to address health care workforce needs, eases restrictions surrounding telehealth services during the crisis period, updates the FDA’s over-the-counter drug review process, and authorizes $100 billion for eligible health care providers, among many other things.
Our health care team has drafted a white paper that provides in-depth analysis of major policy and funding provisions in the Act that affect health care and life sciences companies. The white paper, available here, was written by Scot T. Hasselman, Robert J. Hill, Carol Colborn Loepere, Kevin M. Madagan, Paul W. Pitts, James F. Segroves, Nicole J. Aiken-Shaban, Julia Krebs-Markrich, Debra A. McCurdy, John D. Kendzior, Jamie Knauer, Arielle R. Lusardi, Rahul Narula, Sonia T. Nguyen, Sung W. Park, and Ryan M. Pate.
In addition, Reed Smith has published a CARES Act Overview, which covers all portions of the Act, and is compiling additional thought leadership at our CARES Act Resource Center.