instructions for completing report of patient services revenue

Line 1 - Total Net Patient Services Revenue Received, including surcharges: Enter total net patient services revenue received during the report month, including surcharges (be sure to include grant revenue on this line). This amount should also include recoveries received from accounts receivable previously written off as uncollectible.

Full Answer

How should patient care-related revenue be reported?

Patient care-related revenue should be reported net of adjustments for all third party payers, charity care adjustments, bad debt, and any other discounts or adjustments, as applicable when reporting patient care-related revenue sources.

What does net patient services Revenue mean?

Net Patient Services Revenue. definition/assessability: In general, net patient services revenue shall mean all moneys received for or on account of hospital or medical services provided or related to patients whose purpose is the treatment or prevention of human illness, disease, injury or disability.

How do you calculate non patient care revenue?

Non-Patient Care Revenues — Enter the amount of revenues not associated with the delivery of services to patients for the subsidiary/billing TIN. Total Applicant Revenues [Auto-populated] — This amount is the total revenues for the subsidiary/billing.

How should inpatient and outpatient services be modeled for revenue?

When accounting for a portfolio, an entity should use estimates and assumptions that reflect the portfolio’s size and composition. An important revenue modeling consideration here is that inpatient and outpatient services should be delineated into distinct models as appropriate.

What is included in patient service revenue?

Net patient service revenue represents the estimated net realizable amounts from patients, third-party payors, and others for services rendered, including estimated retroactive adjustments under reimbursement agreements with third-party payors.

What are the steps in the revenue cycle?

The seven steps of revenue cycle include preregistration, registration, charge capture, claim submission, remittance processing, insurance follow-up and patient collections.

What is PRF reporting?

Reporting is required for PRF recipients who received one or more payments exceeding $10,000 in the aggregate during a Payment Received Period. There are four different reporting periods that are applicable to provider relief funds. These periods are based on the Payment Received Period.

What is HRSA reporting requirements?

Providers who received one or more payments totaling greater than $10,000 in the aggregate during a Payment Received Period must report on use of funds in each applicable Reporting Period.

What are 4 steps in revenue cycle?

The first step in revenue cycle management is pre-authorization and registration. This is the point at which you gather the patient's insurance and financial information....Revenue Cycle Management:Step 2: Services and Charge Capture. ... Step 3: Claim Submission and Denial Management. ... Step 4: Payment. ... Step 5: Quality Reporting.

What are the 6 stages of the revenue cycle in healthcare?

The Six stages of the revenue cycle are provision of service, documentation of service, establishing charges, preparing claim/bill, submitting claim, and receiving payment.

What expenses are eligible for PRF reporting?

Examples of Allowable Expenses for Provider Relief Fund PaymentsMortgage/rent: Rent for a clinical setting, medical office building, etc.Insurance: Property, malpractice, or other business insurance.Personnel: Direct employee expenses for staff such as nurses, contractor payroll administrators, or support personnel.More items...

Is PRF taxable?

Is a tax-exempt health care provider subject to tax on a payment it receives from the Provider Relief Fund? Generally, no. A health care provider that is described in section 501(c) of the Code generally is exempt from federal income taxation under section 501(a).

Is the PRF reporting portal open?

The reporting requirements are now applicable to recipients of the Skilled Nursing Facility and Nursing Home Infection Control Distribution in addition to General and other Targeted Distributions. The PRF Reporting Portal will open for providers to start submitting information on July 1, 2021.

How do I fill out a HRSA report?

2:4819:47Provider Relief Fund Reporting Tutorial Continued - YouTubeYouTubeStart of suggested clipEnd of suggested clipIn the status. Column.MoreIn the status. Column.

What is PRF fund?

Payment Reconsideration The Provider Relief Fund (PRF) Phase 4 and American Rescue Plan (ARP) Rural Reconsideration process is intended for providers who believe their Phase 4/ARP Rural payment was not calculated correctly.

Is PRF the same as PPP?

For healthcare providers, the primary sources of federal assistance to date have come by way of two programs: (1) the Paycheck Protection Program (“PPP”), which is administered by the U.S. Small Business Association (“SBA”), and (2) the Provider Relief Fund (“PRF”), which is administered by the U.S. Department of ...

Columnar Descriptions

Column A - Description: This column itemizes total net patient services revenue received, including surcharges.

Columnar Descriptions

Column A - Non-Direct Pay Payors: Provides specific line descriptions of non-direct pay payors.

Summary Lines

Line 14 - Total Assessable Revenue, including surcharges: Sum Column B, Lines 9 through 13. This amount must equal the amount reported in Column D, Line 8 of the corresponding service period report.

What is total applicant revenue?

Total Applicant Revenues [Auto-populated] — This amount is the total revenues for the subsidiary/billing. This automatically calculates the sum of the subsidiary/billing TIN’s Net Patient Care Revenues and Non-Patient Care Revenues.

What is gross revenue?

Gross Revenues [Auto-populated] — This amount is the gross revenues minus discounts and allowances as shown on the applicant's federal income tax return or consolidated audited financial statements. This amount is calculated as the sum of Total Applicant Revenues (Cell E14) and Total Revenues that are not part of the application (Cell F14).

What is the phone number for the TTY?

For additional assistance with the application process, contact the Provider Support Line at 866-569-3522, for TTY dial 711. Hours of operation are 8 a.m. to 10 p.m. CT, Monday through Friday.

What is the Provider Relief Fund?

The Provider Relief Fund payment recipient has discretion in allocating the payments to support its subsidiaries’ health care-related expenses or lost revenues attributable to coronavirus, so long as the payment is used to prevent, prepare for, or respond to coronavirus and those expenses or lost revenues are not reimbursed from other sources or other sources were not obligated to reimburse.

What are health care related operating expenses?

Health care-related operating expenses are limited to costs incurred to prevent, prepare for, and respond to coronavirus. The amount of mortgage or rent eligible for Provider Relief Fund reimbursement is limited to that which was incurred to prevent, prepare for, and respond to coronavirus. Providers are required to maintain documents to substantiate that these funds were used for health care-related expenses attributable to coronavirus, and that those expenses or losses were not reimbursed from other sources and other sources were not obligated to reimburse them. The burden of proof is on the provider to ensure that documentation is maintained to show that expenses are to prevent, prepare for, and respond to coronavirus.

What is an allowable expense under the Provider Relief Fund?

To be considered an allowable expense under the Provider Relief Fund, the expense must be used to prevent, prepare for, and respond to coronavirus. Provider Relief Fund payments may also be used for lost revenues attributable to the coronavirus. Reporting Entities are required to maintain adequate documentation to substantiate that these funds were used for health care-related expenses or lost revenues attributable to coronavirus, and that those expenses or losses were not reimbursed from other sources and other sources were not obligated to reimburse them.

What is the grace period for HRSA?

However, in light of the challenges that providers across the country are facing due to recent natural disasters and the Delta variant, HRSA has authorized a 60-day grace period for the first reporting period to help providers adhere to their Provider Relief Fund reporting requirements, should they fail to meet the September 30, 2021 reporting deadline. This grace period is designed to help providers who are facing hardship and will end on November 30, 2021, at 11:59pm Eastern Standard Time (EST). Repayment and/or recovery activities or other enforcement actions will not be initiated during the 60-day grace period (October 1 – November 30, 2021).

How much is the RHC payment for 2020?

HHS provided $49,461.42 for each eligible RHC with a unique CMS Certification Number (CCN) associated with an eligible Tax Identification Number (TIN). TIN organizations must report data associated with COVID-19 testing payments on the Rural Health Clinic COVID-19 Testing Report Portal available at https://www.rhccovidreporting.com/ . For additional information, please visit HRSA’s website at https://www.hrsa.gov/rural-health/coronavirus/frequently-asked-questions#rhc. If you have additional questions please email RHCcovidreporting@narhc.org for technical assistance.

What is CFDA 93.498?

Provider Relief Fund General and Targeted Distribution payments (CFDA 93.498) and Uninsured Testing and Treatment reimbursement payments (CFDA 93.461) to non-Federal entities are Federal awards and must be included in determining whether an audit in accordance with 45 CFR Part 75, Subpart F is required (i.e., annual total federal awards expended are $750,000 or more).

What is a primary TIN?

Primary TIN refers to the TIN of the parent company, and subsidiary TIN refers to the TIN of an entity that is a subsidiary of the parent company. Providers may have received payments directly to a parent and/or its subsidiary entities.

What is the third revenue modeling consideration?

The third revenue modeling consideration relates to the idea of an implicit price concession, or the practice of providing self-pay discounts, which is an important and subjective component of identifying contracts with patients. Providers should analyze their existing approach to recognizing revenue within this population to validate that they are able to accurately estimate the consideration. The implementation of such concessions will have a broad impact on bad-debt reporting and may lead to modeling and reserve methodology inconsistencies within the industry.

What is ASU number 2014-09?

In May 2014, the FASB released Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606), and the International Accounting Standards Board issued International Financial Reporting Standard 15. a These converged standards, which share the same title, represent a shift from industry-specific guidance to a single, global revenue recognition model and require significant judgment to implement and execute. b

How much revenue should be deferred?

Revenue for these groups should be recognized only if all five criteria required to establish a contract are met. Lacking any one of these criteria, 100 percent of the revenue should be deferred until a contract is established. An understanding of all high-risk encounters during the admissions process and the corresponding assignment to the appropriate payer class in the patient-accounting system will help meet this revenue recognition requirement.

What is the core principle of the new guidance?

The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration the entity expects in exchange for those goods and services. The FASB has outlined five steps entities should follow to comply with the core principle.

How many steps should a healthcare organization follow to comply with the core principle?

The FASB has outlined five steps entities should follow to comply with the core principle. Each step and the changes associated with it may affect the way healthcare organizations and their finance leaders approach net revenue modeling.

What is net patient service revenue?

Net patient service revenue is one of the most important and highly scrutinized measures used to assess a healthcare entity’s financial performance. However, the accounting standards that healthcare providers must follow when recognizing revenue are changing. Organizations should understand the impact new recognition requirements will have and be prepared to implement them.

What is a contract agreement?

According to the updated standard, a contract is an agreement between two or more parties that creates enforceable rights and obligations. Contracts can be written, oral, or implied by an entity’s customary business practices. In addition, the practices and processes for establishing contracts with customers vary across legal jurisdictions, industries, and entities.