COVID-19 Funding Update| Toyon’s Covid-19 Funding Resource
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· Revised PRF instructions have four different reporting periods. · The first reporting deadline is September 30, 2021. · The last reporting deadline is March 31, 2023 for funds received July 1, 2021 through December 31, 2021. |
Toyon is pleased to provide this update on the CARES Act Public Health and Social Services Emergency Fund (PHSSEF). For more information, or to contact any of our team members, please feel free to visit Toyon’s website or contact Fred Fisher at fred.fisher@toyonassociates.com. HHS Releases Revised PHSSEF Instructions |
Initial Takeaways
Toyon is currently evaluating HHS’ new instructions and FAQs and will be providing comprehensive industry updates, as well as updates to our PHSSEF hospital workbook. In the meantime, listed below are initial takeaways from HHS’ new reporting instructions:
- Period four indicates HHS plans on distributing remaining PHSSEF as early as July 1, 2021 through December 31, 2021.
- Providers now also report “Net Unreimbursed Expenses Attributable to Coronavirus”. It is possible, yet still undetermined, period one information may be used to determine need for future hospital funding.
- Per the FAQs, HHS still permits “reimbursement of marginal increased expenses related to coronavirus provided those expenses have not been reimbursed from other sources or that other sources are not obligated to reimburse”. However, HHS has removed the example language using an $85 office visit during the pandemic (the “$85 FAQ”).
- COVID-19 expenses, lost revenue and funding is now reported by quarter based on the period of availability (per table above).
- Through PHSSEF reporting, HHS is now collecting a survey on the impact of PHSSEF payments for each reporting period.
