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Updated Reporting Requirements for the CARES Act Provider Relief Fund: What Providers Need to Know

Updated Reporting Requirements for the CARES Act Provider Relief Fund: What Providers Need to Know

On Sept. 19, the U.S. Department of Health and Human Services (HHS) issued updated guidance relating to general and targeted distributions made under the Provider Relief Fund (PRF). There were some significant changes as a result, including to the information that must be reported and how lost revenue should be calculated. The changes generated significant attention and […]

Updated Reporting Requirements for Provider Relief Funds; Revised Definition of Lost Revenue

AAFCPAs would like to make clients aware, on October 22, 2020, the U.S. Department of Health and Human Services (HHS) issued an updated Post-Payment Notice of Reporting Requirements (the Notice) relating to General and Targeted Distributions made under the Provider Relief Fund (PRF). This Notice updates the calculation of lost revenue. On September 19, 2020 […]

HHS Announces $20 Billion in New Phase 3 Provider Relief Funding

On October 1, 2020, the U.S. Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA), announced $20 billion in new funding for providers on the frontlines of the Coronavirus pandemic. Under this Phase 3 General Distribution allocation, providers that have already received Provider Relief Fund (PRF) payments will be […]

AAFCPAs Shares Expertise at Providers’ Council Annual Conference

AAFCPAs will present a virtual educational workshop titled Where Do We Go From Here? Planning for an Uncertain Future Moving Forward From COVID-19 at the Providers’ Council 45th Annual Convention & Expo on Thursday, October 29 from 1PM – 2:30PM. Where Do We Go From Here? Planning for an Uncertain Future Moving Forward From COVID-19 COVID-19 […]

HHS Updates Reporting Requirements for Provider Relief Funds

On September 19, 2020, the U.S. Department of Health and Human Services (HHS) issued a Post-Payment Notice of Reporting Requirements (the Notice) relating to General and Targeted Distributions made under the Provider Relief Fund (PRF). This notice updates the initial notice issued on July 20, 2020. There are some significant changes as a result of […]

Guidance for Businesses Navigating the Financial Crisis

As you may be aware, the Senate and House have both passed an extension to the deadline for businesses to apply for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) loan program. The measure will now go to the President for his signature. Still, much uncertainty remains, including the promise of another federal aid […]

Webinar: Accounting & Audit Impact of COVID-19

Webinar: Accounting & Audit Impact of COVID-19

OnDemand Webinar Recorded May 4th, 2020 The Coronavirus pandemic has required businesses to quickly make changes to how employees work, and in many cases, has had a significant impact on Revenue & Expenses. These changes to processes, procedures, and finances may have exposed your organization to new risks and have had an impact on your […]

FASB Proposes Lease Standard Delay, Issues Pandemic Concessions FAQs

The Financial Accounting Standards Board (FASB) on April 8, 2020 issued a proposal to defer the effective date for ASU 2016-02, Leases, and all subsequent amendments by one year in response to the ongoing coronavirus pandemic. For private companies and private nonprofits, the effective date would be for fiscal years beginning after December 15, 2021. […]

The COVID-19 Impact on the Revenue Cycle for Hospitals and Other Healthcare Providers

The COVID-19 Impact on the Revenue Cycle for Hospitals and Other Healthcare Providers

The impact of the COVID-19 pandemic on the revenue cycle is fluid, but providers must manage it to meet their obligations and missions. Here are key considerations with financial sustainability hanging in the balance. Billing and coding Ensure you know what is covered by health plans for both inpatient and outpatient services. With the rules […]

Will Paycheck Protection Program Loans Be Subject to Uniform Guidance for Nonprofit Organizations?

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes many provisions that are applicable to nonprofit organizations.  One of the provisions is the Paycheck Protection Program (PPP) Loans which provides 100% Federally guaranteed loans to covered entities who meet certain criteria. A consideration for nonprofit organizations is whether the loans will be subject […]