Provider Relief Fund Spending And Reporting Deadlines Extended
July 2021 ISSUE July 1, 2021Practice Management General/Other
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Congress enacted the Provider Relief Fund (PRF) to reimburse doctors and other healthcare providers for lost revenues and increased expenses resulting from the COVID-19 pandemic. The law included deadlines for spending the allotted funds and reporting on their use. Updated rules have now extended those deadlines, as explained below.
On June 11, 2021, the Department of Health and Human Services (HHS) issued revised spending and reporting deadlines for health care providers who received PRF funds. The PRF was established by the Coronavirus Aid, Relief and Economic Security Act (CARES Act) to reimburse doctors for lost revenue and increased business costs such as staffing, supplies, and lab expenses resulting from COVID-19. Based on our most recent survey, approximately 76% of our members received PRF funding.
Congress approved about $187 billion in PRF funding, but stipulated that funds must be spent by June 30, 2021, or the money must be returned. Reporting on how the funds were spent was required within 30 days thereafter. These deadlines have been revised to give doctors more time to spend the funds received and to report on how they were used.
The new deadlines, which apply to doctors who received PRF funding of $10,000 or more, are as follows:
- Doctors who received payments between April 10, 2020-June 30, 2020 have until June 30, 2021 to use their funds and until September 30, 2021 to submit their reports.
- Doctors who received payments between July 1, 2020-December 31, 2020 have until December 31, 2021 to use their funds and until March 31, 2022 to submit their reports.
- Doctors who received payments between January 1, 2021-June 30, 2021 have until June 30, 2022 to use their funds and until September 30, 2022 to submit their reports.
- Doctors who receive payments between July 1, 2021-December 31, 2021 have until December 31, 2022 to use their funds and until March 31, 2023 to submit their reports.
Doctors are encouraged to register in the PRF Reporting Portal in advance of these deadlines. The registration process takes approximately 20 minutes to complete and must be completed in a single session. This portal opens July 1, 2021 for providers to start submitting their information. You can register for the portal here.
The McGill Advisory content Is provided For informational purposes only And does Not constitute legal, accounting, Or other professional advice.
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