What Is the Provider Relief Fund? Providers may include staff that were furloughed as a result of the coronavirus in the counts of FTEs. On March 27, 2020, $100 billion was allocated to the fund as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the third and largest phase of legislation designed to lessen the economic impact of the coronavirus (COVID-19) pandemic. 2023 by the American Hospital Association. 2 of the Cost Reporting section. According to question No. Overall, the small rural hospitals received 40 percent less funding than their larger and more prosperous counterparts. Is this a loan or a grant that I will need to pay back? 5 under the Cost Reporting section, healthcare facilities should not offset Small Business Administration loan forgiveness amounts against expenses unless those amounts are attributable to specific claims such as payments for the uninsured. healthcare delivery capacity, such as using Provider Relief Fund payments to cover: (i) Employee or contractor payroll; (ii) Employee health insurance; (iii) Rent or mortgage payments; (iv) Equipment lease payments; and/or (v) Electronic health record licensing fees. The researchers did not take into account $24 billion that was specifically targeted to rural and safety-net hospitals in underserved areas, which may have helped these organizations. There are a number of steps a PRF recipient can take to prepare for a single audit, including: There is continued industry and stakeholder inquiry on the applicability of the single audit for PRF funds to make sure it does not result in unintended burdens or consequences as providers continue to grapple with the pandemic. The Department of Health and Human Services (HHS) today announced that later this week it will distribute $9 billion of the $17 billion in Provider Relief Fund (PRF) Phase 4 payments to providers who have experienced revenue losses and expenses related to the COVID-19 pandemic. You can find more information about the terms and conditions here. All rights reserved. All rights reserved. %PDF-1.6 % Within 90 days of receiving a payment, providers must sign an attestation confirming receipt of the funds and agreeing to the Terms and Conditions of payment by re-entering the Provider Relief Fund Application and Attestation Portal. She has been a reporter for The Times since 1995. The latest Updates and Resources on Novel Coronavirus (COVID-19). 116-136) and appropriated $100 billion "to reimburse, The average payment for small providers is $58,000, for medium providers $289,000, and for large providers $1.7 million. Some of those modifications may be significant. We are RKL, a leading CPA and advisory firm with offices located in Pennsylvania and beyond. Here's Why It Could Be Even Higher. In todays announcement, HHS stated that more than 69,000 providers will receive Phase 4 payments beginning Dec. 16. The havoc caused by the Delta variant has further strained many hospitals, overwhelming intensive care units and forcing some to renew delays in elective treatments. Providers that received PRF payments from April 10, 2020, through June 30, 2020, can now enter the portal . COVID-19 and its economic impact exacerbated an existing shortage of affordable housing that far predated the pandemic. HCA Healthcare was one of the larger chains that chose to return some of the federal funds. In perhaps the most notable distinction between traditional and single audits, financial statements and findings (including deficiencies) will be made public as part of the standard process. The original deadline to request an exception for reporting period 2 was May 13. Here's a Summary, Image credit: Photo by Spencer Platt/Getty Images, Spending on Prescription Drugs Has Been Growing Exponentially over the Past Few Decades. Healthcare providers must report Provider Relief Fund payments on the cost reports statement of revenues for informational purposes. Recipients of these funds must follow rigorous guidelines for attestation, use, tracking and reporting, but there is one more compliance obligation that may fall under the radar of many providers: a single audit over a certain expenditure threshold ($750,000 or more). ET to provide technical assistance on reporting requirements for PRF recipients. Phase 1 Overview and Eligibility Determining Additional Payments Provider Relief Fund Payment Portal - Phase 1 - General Distribution Data Sharing Phase 2 Overview and Eligibility Tax Identification Number (TIN) Validation Process Application Process Phase 3 Overview and Eligibility The revenue amount must be identified as COVID-19 PHE PRF. HHS has allocated . Have questions about single audits and PRF payments? For too many Americans, a ticket to the . HHS through the HRSA is making more than $142 million in Provider Relief Fund Phase 4 General Distribution payments to more than 150 providers across the country. Providers that take advantage of the deferral can expense the liability on the Medicare cost report in the year they incurred the costs. 3 of the Cost Reporting section details how healthcare providers should report SBA loan forgiveness amounts they receive. 90 days for attestation . AHA urges Congress to provide support as hospitals contend with an exhausted workforce, backlogs of care deferred by the pandemic, cracks in the supply chain and a tsunami of financial challenges. The map below shows the amounts that healthcare providers in each state have received so far from such disbursements. Further Questions How Can We Reduce Unnecessary Healthcare Spending in the US? Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. A recent op-ed in the online publication STAT (Turn off the spigot for hospitals COVID-19 relief funding) contains blatant factual inaccuracies but also omits critical information about hospital and health systems finances and input costs. https://www.nytimes.com/2021/10/22/health/federal-aid-hospitals-provider-relief-fund.html. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) established the Coronavirus Relief Fund (Fund) and appropriated $150 billion to the Fund. Here's a Summary. If you want the same, we should talk. By continuing to use this site, you are giving consent to cookies being used. 2023 by the American Hospital Association. Noncommercial use of original content on www.aha.org is granted to AHA Institutional Members, their employees and State, Regional and Metro Hospital Associations unless otherwise indicated. The reality is that all of Americas hospitals and health systems, regardless of size, location and financial status stepped forward to provide essential care and keep communities safe during this historic pandemic. It is called a single audit because it is a standardized approach used by all federal agencies, covering financial statements and records, expenditures and internal controls, as well as elements specific to the grant itself. To request permission to reproduce AHA content, please click here. Provider Relief Provider Relief Program Update: June 2023 With the passage of the Fiscal Responsibility Act of 2023 and related rescission of program funds, no further payments will be made to providers under the Provider Relief Fund or the American Rescue Plan Rural Distribution, including no reconsideration payments. To address these concerns, Congress established the Provider Relief Fund (PRF) in the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. HHS Begins Distributing $9 Billion in Provider Relief Fund Phase 4 Payments. Provider Relief Fund Expenditures May Trigger Single Audit: Heres How Healthcare Providers Can Prepare. Hospitals and other health care providers that received PRF money after June 30, 2020, will need to report on the use of the funds at later dates as outlined in HRSAs June 11 update on PRF requirements and highlighted in the following chart. Policymakers should continue to ensure that these types of hospitals are sufficiently funded, potentially with additional rounds of funding, the researchers wrote. %%EOF COPYRIGHT 2023 RKL. The remaining 25% of Phase 4 funding is being distributed as bonus payments based on the amount and type of services provided to Medicare, Medicaid or Childrens Health Insurance Program patients. You can see which forms youll need to use under question No. endstream endobj startxref Applicants should count providers and staff that were furloughed as of 5/31/2020 as 0.0 FTEs. As a consequence, some providers reported forgone revenue and/or significant financial challenges, making it difficult to sustain services. Provider Relief Fund (PRF) payments were made to eligible providers who diagnose, test, or care for individuals with possible or actual cases of COVID-19 and have health care related expenses and lost revenues attributable to COVID-19. Millions in U.S. aid benefited richer hospitals, a new study shows. Housing Insecurity: What is the Federal Government Doing to Prevent Evictions during the Pandemic? Housing insecurity is an ongoing issue for millions of American families. endstream endobj 533 0 obj <. The Provider Relief Fund, administered by the Department of Health and Human Services, distributes payments to hospitals and other healthcare providers on the front lines of the coronavirus response. The Department of Health and Human Services (HHS) today announced that later this week it will distribute $9 billion of the $17 billion in Provider Relief Fund (PRF) Phase 4 payments to providers who have experienced revenue losses and expenses related to the COVID-19 pandemic. What should recipients discuss with their auditors? 2023 Peter G. Peterson Foundation. 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The Health Resources and Services Administration this week opened the Provider Relief Fund reporting portal through Dec. 2 for health care providers authorized to report late on how they used PRF payments received between Jan. 1 and June 30, 2021 that totaled over $10,000. Within 90 days of receiving a payment, providers must sign an attestation confirming receipt of the funds and agreeing to the Terms and Conditions of payment by re-entering the, Updates and Resources on Novel Coronavirus (COVID-19), Institute for Diversity and Health Equity, Rural Health and Critical Access Hospitals, National Uniform Billing Committee (NUBC), AHA Rural Health Care Leadership Conference, Individual Membership Organization Events, Provider Relief Fund Application and Attestation Portal, Frequently Asked Questions Regarding ICD-10-CM Coding for COVID-19, Congress Is Considering Hospital Cuts; Tell Them to Reject Proposals That Could Jeopardize Patients Access to Care, Article Spotlights Distribution of COVID-19 Provider Relief Funds to Hospitals, FEMA Issues COVID-19 Patient Care Revenue Duplication of Benefits Guidance, FEMA releases update on deadlines for COVID-19 program funding, Reminder: March 31 deadline to report on period 4 provider relief payments, CMS releases more guidance for states unwinding Medicaid continuous enrollment requirement, HRSA opens Provider Relief Fund portal for late reporting, CMS seeks input on how to advance equity, reduce burden in programs, FEMA to host Sept. 8 webinars on COVID-19 public assistance reimbursement approach, Hospitals Are Clear: COVID-19 Waivers Make a Difference, HHS distributes Phase 4 Provider Relief Fund payments, Article on Provider Relief Funds Misses Mark, Reminder: June 14 deadline to submit late COVID-19 relief fund reports, The Current State of Hospital Finances: Fall 2022 Update, Massive Growth in Expenses & Rising Inflation Fuel Financial Challenges for Americas Hospitals & Health Systems, Financial Effects of COVID-19: Hospital Outlook for the Remainder of 2021, The Effect of COVID-19 on Hospital Financial Health, The Important Role Hospitals Have in Serving Their Communities, American Organization for Nursing Leadership, Do Not Sell or Share My Personal Information. Working with a single audit compliant advisor, the organization should coordinate the necessary documentation for single audit testing and take stock of how the additional work for the single audit will impact audit timelines and fee structure. The CARES Act imposed certain reporting obligations on PRF recipients and authorized HHS to impose additional . b 003Z!QfV6^r?11zX0qZuLS? 8 Portal users should expect the registration process to take approximately 20 minutes. Enhanced Provider Relief Fund Payment Portal Providers must submit documentation reflecting annual patient revenue information to receive a distribution Documentation is due by July 3 . Basis: Eligible providers that participate in state Medicaid and CHIP p rograms and have not Contact your RKL professional or use the contact form below to get started. What Is Fiscal Policy? 116-139). document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This website uses cookies. As we await publication of final requirements expected this fall, RKLs team of healthcare advisors and assurance professionals continue to track program developments and advise providers on PRF and other pandemic relief measures. The CARES Act established the $150 billion Coronavirus Relief Fund. Providers that received PRF payments from April 10, 2020, through June 30, 2020, can now enter the portal and have until Sept. 30, 2021, to submit the required information to HRSA. All of Americas hospitals and health systems, regardless of size, location and ownership type have provided essential care to their patients and communities during this historic COVID-19 pandemic, all while facing tremendous financial challenges and pressures. For the single audit, auditors will be required to test internal controls over financial reporting and compliance, an audit approach that will be familiar only to larger organization (or ones that already undergo a single audit). But some of the hospitals that received hundreds of millions of dollars in federal funds went on buying sprees during the Covid crisis, gobbling up weaker hospitals and physician groups. Announcements, In the News, COVID-19, PPP. How Does the U.S. Healthcare System Compare to Other Countries? However, if a provider received SBA loans that were forgiven, then theyre not eligible for deferral relief. Millions of borrowers are feeling collective disappointment. RKLs healthcare consulting team developed a customizable tool to help PRF recipients. Below is a high-level look at some of the issues surrounding PPP loans and PRF payments as they relate to cost reports. 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More about Reed Abelson. How Much Will the Debt Ceiling Deal Reduce Deficits? The Department of Health and Human Services (HHS) has announced $178 billion in relief funds, including to hospitals and other healthcare providers on the front lines of the coronavirus . Dr. Whaley said the larger flow of money to hospitals in strong financial shape calls into question the purpose of having these financial resources, noting some institutions have massive endowments and sizable assets. 116-136) and the Paycheck Protection Program and Health Care Enhancement Act (P.L. There is no indication that HHS and the Office of Management and Budget will roll back to the single audit obligation, and work continues to develop specific regulations at both the federal and state level. Healthcare providers must report Provider Relief Fund payments on the cost report's statement of revenues for informational purposes. To date, HHS has allocated $147 billion of that amount in the following ways: Of those allocations, $96 billion has been disbursed through October 30, 2020. Providers with questions about the Phase 4 application process should contact the Provider Support Line at 866-569-3522. All rights reserved. 116-136), which provided $100 billion to reimburse health care providers for increased expenses or lost revenue attributable to Coronavirus Disease 2019 (COVID-19). Noncommercial use of original content on www.aha.org is granted to AHA Institutional Members, their employees and State, Regional and Metro Hospital Associations unless otherwise indicated. The Health Resources and Services Administration this week openedthe Provider Relief Fund reporting portal through Dec. 2 for health care providers authorized to report late on how they used PRF payments received between Jan. 1 and June 30, 2021 that totaled over $10,000. The revenue amount must be identified as COVID-19 PHE PRF. Overview Who is eligible to receive payments from the Provider Relief Fund? In addition, HHS stated that it is currently reviewing the remaining Phase 4 applications and will make the remainder of Phase 4 payments in 2022. Question No. One month later, lawmakers allocated an additional $75 billion to the fund in the Paycheck Protection Program and Healthcare Enhancement Act, thereby bringing the total amount allocated to the Provider Relief Fund to $175 billion. This communication is intended to provide general information on legislative COVID-19 relief measures as of the date of this communication and may reference information from reputable sources. This would seem to contradict the Q&A that states providers shouldnt adjust related expenses. Health care providers who received Provider Relief Fund and/or American Rescue Plan Rural payments exceeding $10,000 total between July 1 and Dec. 31, 2021, must report to the Health Resources and Services Administration by this March 31 on how they used those funds or face enforcement actions. The extension may not exceed 3 years beyond the end of the cost reporting period in which the liability was incurred.. And if the provider pays interest on an SBA loan, they can report that interest similar to other interest expenses on the cost report. Coronavirus Aid, Relief, and Economic Security (CARES) Act, lessen the economic impact of the coronavirus (COVID-19) pandemic, Paycheck Protection Program and Healthcare Enhancement Act, Infographic: What's in the CARES Act?
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