Healthcare Alert – HHS Extends Timeline for Provider Relief Fund (PRF)
On June 11th, the U.S. Department of Health and Human Services (HHS) released updated reporting requirements for recipients of the Provider Relief Fund (PRF) payments. While the primary objective of the revision is to expand the timeframe providers have to report information, it is also intended to relieve the burden for smaller providers who manage financials in-house and/or independently. The revision also extends deadlines for expending PRF payments for providers who received funds after June 30, 2020.
Revised PRF Key Takeaways
- This revision supersedes the Post-Payment Notice of Reporting Requirements released on January 15, 2021.
- The revision applies to providers who received one or more payments exceeding $10,000 during a single Payment Received Period from the PRF General Distributions, Targeted Distributions, and/or Skilled Nursing Facility and Nursing Home Infection Control Distributions.
- The period of availability of funds is determined by the date payment is received, instead of requiring usage by June 30, 2021.
- The reporting period is 90 days from the deadline of fund usage, rather than a 30-day period.
- Recipients must report for each Payment Received Period (see table below) for which they received one or more payments, in the aggregate, exceeding $10,000, rather than $10,000 cumulatively across all PRF payments.
- Recipients of the Skilled Nursing Facility and Nursing Home Infection Control Distribution must now abide by reporting requirements in addition to General and other Targeted Distributions.
- The PRF Reporting Portal will open on July 1, 2020.
- The HHS reporting requirements are not applicable to the Rural Health Clinic COVID-19 Testing Program, the HRSA COVID-19 Uninsured Program, and the HRSA COVID-19 Coverage Assistance Fund.
For more in-depth information regarding the recent changes to PRF Reporting Requirements, download the official document here.
PRF Reporting Requirement Timeframes & Deadlines
To learn more about the development of the Provider Relief Fund and reporting requirements, please visit our earlier post.
For assistance setting up a PRF Reporting account, please contact us by clicking the button below. One of our Healthcare Specialists will be in touch shortly.
Our Healthcare & PRF Specialists
About Tu Nguyen
Senior Finance Consultant
Tu Nguyen holds the position of Senior Finance Consultant at Ryan & Wetmore, P.C., where she primarily works with clients on business consulting, financial planning & analysis, mergers & acquisitions, and various healthcare projects. Tu earned her M.A. degree in Economics from Johns Hopkins University and a B.A. in Economics and Mathematics from Lake Forest College in Illinois.
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Partner, Co-founder, & CPA
Peter T. Ryan co-founded Ryan & Wetmore in 1988 with business partner Michael J. Wetmore. Peter provides clients with the best strategies for success. His expertise extends across various industries, including medical practices. Peter obtained a Master of Business Administration in Finance from the University of Baltimore and a Bachelor of Arts in Accounting from the Catholic University of America.
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Partner & CPA
Traci is a partner with Ryan & Wetmore, PC and is based in our Frederick, MD office. The Frederick office is home to the firm’s small business services department. Traci currently works with clients on individual, corporate, and tax compliance issues along with a variety of accounting and consulting services for small and medium-sized business owners.
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