For some practices, it seems like just yesterday that the COVID-19 pandemic affected your operations. But other practices barely remember the whirlwind that the coronavirus created. For that reason, any money you received from the Provider Relief Fund is probably long spent and accounted for.

Some practices, however, have recently gotten requests for funds to be sent back to the Provider Relief Fund, even though the practices thought this money involved grants that didn’t need to be repaid.

Read on to discover three facts about Provider Relief Fund money to keep you aligned with the requirements.

1. Terms and Conditions Were Attached

The Provider Relief Fund distributions that medical practices received were tied to strict terms and conditions. These varied based on how much money you got and other factors. However, there are some terms that were universal.

For instance, the government noted that “payment will only be used to prevent, prepare for, and respond to coronavirus, and that the payment shall reimburse the recipient only for health care related expenses or lost revenues that are attributable to coronavirus.”

In addition, if other sources reimbursed you for a particular expense, you weren’t entitled to using Provider Relief Funds for those expenses. In other words, there’s no double dipping.

2. Provider Relief Funds Are Yours to Keep — Usually

In most cases, the money distributed to practices through the fund was considered grant funding. That means it doesn’t need to be paid back. However, there are some strings attached to that.

First, the provider must attest to receiving the funds and comply with the terms and conditions. Not every practice had the same terms and conditions, but if, for instance, you were required to provide testing and care for COVID-19 patients and you didn’t attest to doing so, you may have to pay the money back. Or if you were excluded from participating in Medicare, there’s a chance you’ll have to pay the money back.

In addition to accepting the terms and conditions in the Provider Relief Fund attestation portal, practices needed to submit a required report during a set period. Practices that didn’t do that may need to return funding to the government.

3. Audits Are Continuing

Provider Relief Fund audits are ongoing, so it’s a good idea to double check that you met all of the funding requirements. If not, return any money back to the government that you can’t account for. Otherwise, the government may identify the errant funding during an audit and come after it, with potential fines and interest attached.