CARES COVID-19 Expense Update
Issue and Background
Due to the January 15, 2021 revision to CARES provider relief fund (PRF), the Department of Health and Human Services (HHS) has yet to open the portal for providers to report CARES COVID-19 expenses and lost revenues for calendar year 2020.
To assist hospital teams, evaluate potential expenses and lost revenues, Toyon updated our CARES PRF Workbook and PowerPoint Presentation per the latest HHS instructions and FAQs. The workbook is available here.
Toyon’s Take | Next Steps
The “$85 FAQ” continues to be a focal point for providers to report the marginal change in per patient cost (pre-and-post COVID-19). This “marginal expense” exposes true and lingering costs of COVID-19 and could greatly help providers cover their PRF with coronavirus related expenses and while demonstrating availability for future potential funding.
To promote the importance of these costs, Toyon is penning an article on the importance of indirect and “stranded” costs from the ongoing public health emergency. Please feel free to send any thoughts on this topic to Fred Fisher and Scott Besler, as listed below.