HHS has announced that the Provider Relief Funds Reporting Portal is expected to open on January 15th. We have put together a game plan for your organization covering the reporting requirements for HHS and to maximize both your time and the amount of PRF payments that you’ll be able to keep.
WEEKLY INSIGHTS
Monday, 1/11 – Accumulate your PRF payments by Tax ID in one place and make sure you understand the total amount of funds you’ve received to date. You can check this number to the CDC’s Data.gov website that shows what you have attested.
Tuesday, 1/12 – Calculate lost revenues and determine how much of your PRF payments from Monday you can keep with this calculation below. This will also give your organization guidance on how much work is needed identifying COVID expenses in later step.
Calculation 1 – Calendar year (CY) 2020 net revenue less CY 2019 net revenue
Calculation 2 – CY 2020 net revenue less CY 2020 budgeted net revenue
Wednesday, 1/13 – Accumulate all other awards and payments from COVID patients that HHS refers to as “Other Assistance.” These amounts will be used to reduce your COVID expenses. HHS has a website accumulating awards that are not part of the PRF.
Thursday, 1/14 – Begin working on COVID expenses. Spend today focused on non-payroll COVID expenses. Review expense items and look and gather the expenses used to “prevent, prepare for and treat COVID patients.”
Friday, 1/15 – Try to login to the reporting portal and set up your basic user information. Then, continue work on COVID expenses with a focus on payroll expenses. Identify employees across all departments who spent time in support of activities to prevent, prepare for and treat COVID patients. Hazard pay is one area that has been specifically mentioned by HHS as an allowable expense. And remember that there is a cap on compensation that you can claim per employee of $197,300.
Every day this week – check the HHS Reporting & Auditing page for updates and login information. While we don’t yet know what website will be used to report, it would be good to make sure your Optum login still works at the CARES act application and attestation portal.
At this point, you should have your primary components accumulated for reporting as the portal opens and you can start to calculate an estimate of how much of your funds you will be able to keep. Other information will be needed such as personnel metrics by labor category, patient metrics such as admissions, telehealth visits, in-person visits and facility metrics such as available beds in med surg, critical care and other areas.
Download a PDF version of this information here.
Save the Date!
On Thursday, January 21st, we will be hosting a webinar to go over what the PRF portal looks like, what information is located there, and answering any questions you have. Click here to register for this event.
Have Questions?
Fill out the contact us form and a member of the Blue and Co. LLC team will reach out to you.
