Provider Relief Fund: Additional Clarity Needed for Healthcare Providers
The COVID-19 pandemic has created a staggering level of operational and financial challenges for healthcare providers. While the Provider Relief Fund (PRF) provided billions of dollars of stimulus payments to those impacted financially by the pandemic, the stimulus rollout also presented numerous challenges, specifically in the lack of clarity in the PRF’s terms and conditions.
The PRF was established by Congress via the Coronavirus Aid, Relief and Economic Security (CARES) Act to create funding to compensate healthcare providers for lost revenue and unreimbursed expenses resulting from the pandemic. Guidance was regularly provided by the U.S. Department of Health and Human Services (HHS) on the PRF through updates to the terms and conditions, reporting guidance as well as frequently asked questions (FAQs), providing a rolling update in how to handle the issue.
WE’RE HERE TO HELP
Bennett Thrasher’s Financial Reporting & Assurance professionals are here to help you navigate these complexities. To learn more about our services and recommended best practices, contact Alana Mueller or Michael Dukes by calling 770.396.2200.