Healthcare providers in Provider Relief Fund (PRF) Phase 4 who can document revenue loss and expenses associated with the COVID-19 pandemic may now apply for funding. As we previously reported, the U.S. Department of Health and Human Services (HHS) earmarked $17 billion for these providers, aimed at supporting smaller providers and more vulnerable communities.
In addition to PRF Phase 4, providers or suppliers who bill Medicare, Medicaid and/or Children’s Health Insurance Program (CHIP) and operate in or serve patients around rural areas are eligible for funding from the American Rescue Plan (ARP). Eligible providers may receive payments from both PRF Phase 4 and ARP Rural, using them for changes in operating revenues and expenses dating back to January 1, 2020.
The application submission deadline for both PRF Phase 4 and ARP Rural is October 26 at midnight (Eastern Time). Because of the multiple validation checks these applications must go through, providers are encouraged to apply as soon as possible.
As a reminder, the deadline of September 30 for using funds as well as the reporting period have not changed, but if providers fail to meet the deadline, HHS previously announced a 60-day grace period during which it will not initiate collection activities or similar enforcement actions for noncompliant providers.
For more information on how Cherry Bekaert’s Healthcare team can assist your organization with its PRF reporting requirements, please contact us today.
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