For some healthcare suppliers, assembly subsequent week’s deadline for reporting on their federal COVID-19 grant spending is shaping as much as be a mad scramble.
Accountants serving to suppliers prepare for the Sept. 30 deadline to report on the primary tranche of Supplier Reduction Fund spending say even those that’ve been ready for weeks have official questions on how one can transfer ahead. Congress permitted $178 billion to assist suppliers climate the unprecedented disaster, however many within the healthcare business say the Well being and Human Providers Division’s steering on how one can account for that cash has been complicated and unclear.
For essentially the most half, these which are “completely unprepared” are typically smaller and do not view themselves as sufficiently big to must report back to the federal government, mentioned Anna Stevens, partner-in-charge for healthcare on the accounting agency Weaver. Suppliers that spent greater than $10,000 in grant