HHS Communication Update (2/3/2021)
Updates to PRF Reporting Requirements
The U.S. Department of Health and Human Services (HHS) has amended the reporting instructions and timeline for Provider Relief Fund (PRF) payment recipients. HHS has established an online portal where providers will need to register to gain access. At this point in time, HHS has not provided a new timeline of when reporting on the use of funds will be due (any previous timeline has been superseded).
One of the major changes in reporting instructions relates to how providers are able to calculate lost revenue. Based on the latest PRF reporting requirements, providers are able to calculate lost revenue by using one of the following methods:
- The difference between 2019 and 2020 actual patient care revenue
- The difference between 2020 budgeted and 2020 actual patient care revenue.
- If providers elect to use 2020 budgeted patient care revenue to calculate lost revenue, they must use a budget that was established and approved prior to March 27, 2020.
- Any reasonable method of estimating revenue.
- If a provider wishes to use an alternate reasonable methodology for calculating lost revenues attributable to coronavirus, the provider must submit a description of the methodology, an explanation of why the methodology is reasonable, and establish how the identified lost revenues were in fact a loss attributable to coronavirus, as opposed to a loss caused by any other source.
Please review the latest reporting requirements for further details. The latest requirements can be read here - PDF.
Should you have any questions or want to further discuss, please contact us.