Account for All HHS Funds or Lose Your Money [Feb. 15 Deadline]

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Your HHS Provider Relief Funds (PRF) reports must accurately and thoroughly account for every dollar you used, or you’ll risk paying back thousands of dollars. accounting for Provider Relief Funds.

IMPORTANT: You have to act quickly. The first reporting period begins January 15th and ends February 15th, so you don’t have much time to tackle the constantly changing guidelines.

It is crucial that your accounting records are crystal clear starting from the very beginning of the reporting period.

The window is closing for you to create tracking and reporting methods that capture all of your practice’s lost revenues and eligible expenses for 2020. Your practice’s financial success depends on your report’s accuracy, compliance, and thoroughness.

The good news is help is available! on accounting for Provider Relief Funds.

That’s where healthcare accounting experts Frank J. Miceli, CPA, MBA, FHFMA, and Mary Antonetti, CPA, MST, with Marcum LLP, can help.

During their online training session, they will provide you with step-by-step guidance on how you can calculate lost revenues and determine what types of expenses you can claim so that you can hold onto all of your received funds.

Here are just a few of the HHS PRF accounting questions you’ll get answered at this 90-minute online training:

  • What is the best way to track your PRF funds and what documentation do you need to retain?
  • What dates can you use for your loss of revenue reporting?
  • How do you find out if you received money from the general or targeted fund?
  • Where can you access worksheets to assist with HHS PRF reporting?
  • What is the most up-to-date definition of lost revenue and how do you calculate it?
  • Can you use HHS funds for payroll, rent, and utilities after exhausting Payroll Protection Program (PPP) funds for qualified expenses?
  • What specific expenses counts as operating expenses from patient care?
  • Could you have to pay back money because of HHS requirement changes since the initial program rollout?
  • And much more!

The HHS and PPP funding guidelines get more confusing with every update and new round. You can’t afford to miss out on the top accounting and compliance strategies for HHS PRF and SBA PPP. Without this information you risk paying back all of your provider relief and payroll protection funds.

By attending this session, the senior partners at Marcum LLP including Frank, Mary, Donna Zoellick, and Maryann Czarnota will help you avoid accounting mistakes including missing requirements or not optimally using the money available and stop your practice from facing a financial nightmare.

With this training, you will be able to account for your funds in the best accounting compliant way and be able to keep all of your funds.

Don’t wait another minute, sign up for this online training session today! accounting for Provider Relief Funds.

Meet Your Experts

Frank Miceli
FHFMA, MBA, CPAPartner

Frank J. Miceli is a Partner in the Firm’s Hartford, Connecticut office. Frank is the leader of assurance for Marcum’s National Healthcare Industry Group, the Leader of the New England Healthcare Industry Group, and a senior member of the Not-for-Profit Industry Group. With over 20 years of experience, his clients include hospitals, nursing homes and senior living communities, home health and hospice agencies, community health centers, organizations serving the developmentally disabled, behavioral healthcare organizations, trade associations, foundations, and others within the not-for-profit and healthcare industries.

Mr. Miceli has devoted his entire career to servicing the healthcare and not-for-profit industries in the northeast and throughout the country. In addition to providing audit and assurance services, his breadth of experience affords him the ability to assist clients in a multitude of operational matters including budgeting, accounting information systems, financial reimbursement, internal controls, and compliance matters.

Mr. Miceli is a frequent speaker and has presented on various accounting and regulatory issues including annual accounting and auditing technical updates and reimbursement matters. Mr. Miceli volunteers a significant amount of time on a variety of boards of directors and committees serving the healthcare and not-for-profit industries. In addition, he actively maintains his status as a Fellow of the Healthcare Financial Management Association (HFMA) – a recognized marker of leadership and professionalism.

Mary Antonetti
CPAPartner

Mary Antonetti is a partner in the Firm’s New Haven office, specializing in tax compliance and consulting services to not-for-profit and healthcare organizations. She has 30 years of public accounting experience with national and international firms. Her extensive experience includes for healthcare and other tax-exempt organizations and their for-profit affiliates, including higher education institutions, NGOs, hospital systems, title holding companies, Official Catholic Directory entities, and private foundations.

Ms. Antonetti’s expertise includes consultation on the implications of tax reform, unrelated business income, alternative investments, foreign reporting, joint venture transactions, Section 501(r) of the Internal Revenue Code, restructuring, application for exempt status, IRS audit support, community benefit reporting, Community Health Needs Assessments (CHNA), tax-exempt bonds, HHS Provider Relief Funds, CARES Act and private inurement issues.

She has also has experience providing middle-market companies with general tax compliance and planning services focused on corporate acquisitions, dispositions and reorganizations of entity structure, including consolidated groups, S-Corporations, and multi-tiered partnerships with domestic and foreign operations. Prior to joining Marcum, Ms. Antonetti served as a director with a Big Four firm located in Hartford.

Donna ZoellickDirector and Co-Leader

Donna Zoellick is a director and co-leader of the Firm’s healthcare industry group for Illinois. She brings 16 years of experience as an auditor for a Medicare fiscal intermediary, as well as over 20 years of experience as a healthcare consultant. Her background and knowledge of Medicare and Medicaid reimbursement and regulations make her an invaluable resource to healthcare clients.

Donna’s areas of expertise include Medicare and Medicaid cost reports, Medicare bad debt audits, preparation of the CMS-855 for Medicare change of ownership and revalidations, as well as regulatory issues in the healthcare arena. Donna assists clients with navigating the ever changing and complex regulations and operational issues facing the industry.

Donna’s clients include skilled nursing facilities, home health agencies, hospices, and end stage renal disease facilities. Donna frequently speaks and authors articles on topics related to the healthcare industry, specifically for senior living and long-term care.

Maryann Czarnota
CPA, MST, CFF, CVA, CFFA, CDFA, CEPA, MAFPartner

Maryann Czarnota is a partner in Marcum’s Tax & Business Services Division and a member of the Firm’s national Healthcare Group. She has developed an expertise working within the medical and dental professions, providing services such as accounting, tax, business valuations, compensation modeling and structuring, and consultation on mergers and acquisitions, practice expansion, buy-ins, and buy-outs.

She holds numerous professional certifications, with designations including Certified Public Accountant (CPA), Certified Valuation Analyst (CVA), Certified in Financial Forensics (CFF), Certified Forensic Financial Analyst (CFFA), Certified Divorce Financial Analyst (CDFA), Certified Exit Planner Advisor (CEPA), and Master Analyst in Financial Forensics (MAFF). Before joining Marcum in 2019, Ms. Czarnota was a partner at The Abrix Group, L.P. She also has “Big 4” accounting firm experience.

Reviews

The webinar covered a variety of topics within a short time period. Very informative.
Heather Arrington
Attorney, Sullivan Stolier
Terrific information! Very timely.
Lisa Conner
Administrator, Dermatology Associates of Southwest Louisiana
Information was structured and answered all my questions. Excellent!
Norma Garza
CFO and HR Director, Access Esperanza Clinics
The webinar was well thought out, and provided helpful slides. The speakers were very knowledgeable.
Annette Wiebeld
Practice Administrator, Elizabeth Wende Breast Care