Provider Relief Fund Update ‒ Are You Prepared?

The Provider Relief Fund (AKA, the HHS Stimulus Payments) provides payments to health care providers to ease the economic burden of the pandemic. Providers are required to submit reports on the first distributions of PRF funding by September 30, 2021*. This session outlines what recipients of PRF payments need to know about reporting requirements, auditing, and how to use the Reporting Portal.

Learning objectives include:

  • Understanding if you are eligible for this reporting deadline (and if not when you need to report)
  • Review of reporting requirements which differ based on how much money you received
  • Identification of requirements for independent audit for large amounts
  • Review of the types of information being requested; (i.e. comprehensive financial info, PPP allocation, stats by place of service, FTE counts over 10 quarters (1/1/20-6/30/21), etc.)
  • Overview of extension to file opportunities and penalties*

Presenter: Maureen West McCarthy, CPA, Managing Director, Medical Business Advisors, a Division of KatzAbosch

*The September 30, 2021 Reporting Period 1 deadline has not changed, however in response to challenges providers are facing given the Covid surges and natural disasters around the country, the HRSA put a 60-day Grace Period in place. This period allows providers to come into compliance with their PRF reporting requirements should they fail to meet the September 30, 2021 deadline.