Provider Relief Funds – Update
HHS issued revised (again) reporting procedures for Provider Relief Fund (PRF) recipients that received more than $10,000. The revision:
- Delayed the deadline for the initial report, originally February 15, 2021 for use of funds through December 31, 2020, however a new due date was NOT announced. The final report for use of funds through June 30, 2021 as of now is unchanged at July 31, 2021.
- Changed the “lost revenue” calculation to allow more flexibility. Methods now allowable include:
- Difference between 2019 and 2020 actual patient care revenue
- Difference between 2020 BUDGETED and 2020 actual patient care revenue (extra reporting required to attest to budget that was approved prior to March 27, 2020)
- Other reasonable method, which will lead to a higher likelihood of government audit
- Added flexibility of allocation of funds from Targeted Distributions to subsidiaries
The reporting portal was supposed to open on January 15, however it is now open for registration only. Here is a link to HHS’ notice. We are confident additional guidance will be forthcoming. Stay tuned!