Today, HHS issued an announcement that it has revised the Provider Relief Fund (PRF) reporting requirements and broadened the definition of “lost revenue”.
HHS indicated: “In response to concerns raised, HHS is amending the reporting instructions to increase flexibility around how providers can apply PRF money toward lost revenues attributable to coronavirus. After reimbursing healthcare related expenses attributable to coronavirus that were unreimbursed by other sources, providers may use remaining PRF funds to cover any lost revenue, measured as a negative change in year-over-year actual revenue from patient care related sources.”
The amended reporting requirements guidance can be found here. Argentum will continue to review these changes to ensure that they are not overly burdensome for providers.
Background: In September, HHS issued its final PRF reporting guidance, which included an update to its FAQs “to clarify that for purposes of relief payments for lost revenues attributable to COVID-19, recipients must submit information showing a negative change in year-over-year net patient care operating income.” This revision overrode the original reporting requirements outlined by HHS on June 19.
Argentum sent a letter and co-signed a letter with ASHA this week to HHS Secretary Azar, requesting a reinstatement of the original reporting requirements and that the definition of lost revenue be redefined as “any revenue that…a health care provider lost due to coronavirus,” as originally outlined. This revision will help communities adequately account for revenue losses associated with COVID-19.
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