Analysis Finds $40 Billion in Provider Relief Fund Yet to be Distributed

KNOXVILLE, Tenn., Feb. 12, 2021 /PRNewswire/ -- Since March 2020, Congress has appropriated $178 billion to the Provider Relief Fund (PRF) to assist hospitals, physicians, and other providers with lost revenue and healthcare-related expenses attributable to the coronavirus. However, a new analysis shows approximately $40 billion of those funds have yet to make it into the hands of healthcare providers across the nation.

In the absence of a comprehensive accounting from the Health Resources and Services Administration (HRSA), PYA's healthcare consultants analyzed what information has been released along with publicly available data, and has published an article breaking down the payments so far.

HRSA announced a series of general and targeted distributions throughout 2020 totaling $157.8 billion. The Department of Health and Human Services (HHS) maintains a public data file listing every provider that has received at least one PRF payment. Comparing the announced payments with the provider listing and a detailed analysis of payment types, schedules, and returned payments indicates almost $40 billion, approximately one-fifth of the total amount Congress appropriated, has not reached providers. Unlike providers in those areas impacted by the spring surge in COVID-19 cases, many providers now responding to the fall and winter surge have not received additional distributions.

"COVID-19 has had a devastating impact on the healthcare industry. Providers should push the Department of Health and Human Services to make these critical funds accessible faster," said Martie Ross, PYA Principal.

About PYA

Serving clients in all 50 states from offices in Knoxville, Nashville, Atlanta, Kansas City, and Tampa, PYA is ranked by INSIDE Public Accounting as one of the nation's "Top 100" Largest Accounting Firms. Accounting Today highlighted PYA as "One of the Most Successful Firms in the Country," and PYA is consistently ranked by Modern Healthcare as one of the nation's Top 20 healthcare consulting firms.

Learn more at pyapc.com.

SOURCE PYA

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