Skilled Nursing News September 26, 2021
When the federal government announced the availability of $25.5 billion in COVID-19 relief funding earlier this month, it specifically noted that Provider Relief Funds should not be used for M&A activity.
“To help ensure that these provider relief funds are used for patient care, PRF recipients will be required to notify the HHS Secretary of any merger with, or acquisition of, another health care provider during the period in which they can use the payments,” the U.S. Department of Health and Human Services (HHS) warned.
In particular, department officials said that providers who report a merger or acquisition may be more likely to be audited to confirm their funds were used for coronavirus-related costs, consistent with an overall risk-based audit...
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