CARES Act Provider Relief Fund: FAQs
24 March 2021In response to the pandemic, Congress has passed several pieces of legislation that created various relief funds to help organizations navigate the impact of COVID-19. The Provider Relief Fund (PRF) comes with a unique set of compliance, auditing and reporting requirements that must be met by recipient organizations. The provided PDF details Accounting, Audit and other Compliance Reporting Considerations.
At A Glance
On January 15th, 2021 the U.S. Department of Health & Human Services (HHS) released updated guidance on the Provider Relief Fund
reporting requirements. This amended guidance is in response to the Coronavirus Response and Relief Supplemental Appropriations Act
(Act). The Act was passed in December 2020 and added an additional $3 billion to the PRF along with new language regarding
In the wake of this new guidance, healthcare providers should undertake the following steps:
- Register on the HHS Provider Relief Fund Reporting Portal and establish an account as soon as possible.
- Revisit lost revenue calculations to determine if your current methodology is appropriate or if an updated methodology would be more appropriate under the new guidance.
- Understand the ability to transfer General and Targeted distributions and the impact on reporting of these funds.
- Develop reporting procedures for lost revenue and increased expense for reporting in the HHS portal.
- Review audit and compliance requirements that pertain to your organization.
Please note this is a summary of information and additional detail and guidance and can be found under reporting and auditing FAQ at HHS.gov.
For more information, please contact a member of our team.Back to News