The Provider Relief Fund (“PRF”) was created to assist healthcare providers during the COVID-19 pandemic. Through the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, the Department of Health and Human Services (“HHS”) distributed funds to qualified providers for healthcare related expenses and lost revenues due to COVID-19 and to reimburse for testing and treating uninsured individuals with COVID-19. In addition to reporting on the use of funds within the PRF Reporting Portal, HHS has stated that for profit entities who received $750,000 or more of HHS awards during the entity’s fiscal year will be subject to audit as described in section 75.216 of HHS’s adoption of the Uniform Guidance.
The AICPA recently hosted a webinar on January 20, 2022, for audits of for-profit entities receiving PRF and other HHS awards. Below are five key takeaways we learned for upcoming compliance audits for for-profit entities.