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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 […]

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 […]

CARES Act Healthcare Provider Relief Fund

AAFCPAs would like to make healthcare providers aware that as part of the Coronavirus Aid, Relief and Economic Stimulus (CARES) Act legislation, $100 billion in Provider Relief Funds was pledged to hospitals and other healthcare providers. These funds are designed to reimburse healthcare-related expenses and lost revenue related to COVID-19, and to guarantee uninsured Americans […]

Cancelled Fundraising Events, Written Notice Requirements

On March 10, 2020 MA Governor Charlie Baker declared a state of emergency for the Commonwealth of Massachusetts in response to the spread of the Coronavirus. The Governor’s administration offered guidance to the public to limit or eliminate attendance at large gatherings. As a result, several of AAFCPAs’ nonprofit clients have made the difficult decision […]

Value-Based and Alternative Payment Methodologies Require a New Approach to Data Analysis, Reporting

Value-Based and Alternative Payment Methodologies Require a New Approach to Data Analysis, Reporting

Since the inception of electronic medical records and practice management systems, healthcare facility finance teams have had an overwhelming amount of data at their disposal that has gone largely underutilized. With the emergence of Accountable Care Organizations (ACOs) and other alternative payment methodologies (APMs), providers have been asked to become more patient-focused, implementing care management […]

Educational Podcast: How to Right-Size Your Finance Function

Educational Podcast: How to Right-Size Your Finance Function

Listen to Podcast Click here to listen to podcast or use the above media player. Over one third of CFOs surveyed report human resource limitations and team bandwidth as the PRIMARY challenge in meeting the expectations of their CEO. Nonprofit finance departments are often juggling the day-to-day accounting and bookkeeping responsibilities alongside more complex and […]

Educational Podcast: Cybersecurity in 2018

Educational Podcast: Cybersecurity in 2018

Listen to Podcast Click here to listen to podcast or use the above media player. Techniques of cyber-criminals continue to evolve. A recent study shared by InfoSecurity Magazine reports “Cyber-criminals have adopted an organizational shift in how they carry out their work, implementing corporate best practices and establishing professional businesses to increase the efficiency of their attacks […]

Educational Podcast: Unraveling the Mysteries of Employee Benefit Plan Costs

Listen to Podcast Click here to listen to podcast or use the above media player. Clients often ask “How much does my employee benefit plan cost, and how do costs relate to compliance and risks?” Plan costs are often buried and difficult for plan sponsors to truly figure out. In order to meet their fiduciary […]