WEBINAR MATERIALS: Current Update on CARES Act PRF Reporting Instructions & Recent FAQsAndrew Kent, Esq., CVA, and Claudia Reingruber, CPA, CHC

7/23/2021

Webinar held on Thursday, July 22, 2021.

New CARES Act Provider Relief Fund (PRF) Reporting Requirements were issued on June 11, 2021, and the PRF Reporting Portal opened on July 1, 2021.

The PRF Reporting Requirements dated June 11, 2021, supersede all prior instructions, and contain important changes of interest to any provider who received one or more PRF payments. These include newly established “Payment Received Periods” and “Reporting Time Periods,” extended timeframes for use of PRF payments, and longer reporting windows for each Reporting Time Period. In addition, HHS simultaneously published new and modified answers to many FAQs concerning the use of PRF payments and related reporting requirements.

On July 1, 2021, HHS opened the PRF Reporting Portal, and published a User’s Guide for the Reporting Portal, short instructional videos on its use, worksheets to assist in accumulating reporting data, a Reporting Toolkit, and information on webcasts to be presented during July 2021 to inform providers on the PRF reporting process. It is also important to note that SNF/NH Infection Control Distributions and Quality Incentive Payments are now included in these new reporting requirements.

The CARES Act provided $175B for distribution by HHS to healthcare providers beginning in April 2020. These funds were paid in multiple General and Targeted Distributions, defined as grants, not loans, and were intended to help address the devastating financial implications of COVID-19 on the healthcare sector – including lost revenues, declining utilization, new and increased expenses, and enhanced enforcement initiatives. While these federal grants were crucial in supporting healthcare service delivery, the associated reporting requirements were slow to be issued and subject to multiple revisions, creating confusion and concerns as the established reporting deadline became imminent.

HHS has attempted to remedy this situation by issuing new, and presumably final, Reporting Requirements on June 11th, together with new and updated answers to many frequently asked questions. To learn about the new and better-defined reporting requirements, extended deadlines, expanded reporting periods, and other changes, we invite you to join Andrew Kent, Esq., CVA, and Claudia Reingruber, CPA, CHC, as they walk through the latest guidance including the following:

Newly established “Payment Received Periods” and “Reporting Time Periods”, including extended timeframes for use of some PRF payments and longer reporting windows for each Reporting Time Period
Updated guidance on the use of funds, including identification of eligible expenses and the calculation of lost revenue
Information on the recently-opened PRF Reporting Portal and the supporting data and documentation providers will need to complete the reporting process

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