As Health and Human Services continues to provide guidance on reporting requirements for the CARES Act provider relief funds, it’s critical to properly track use of the monies. Pat McCormick explains how our stimulus reconciliation model can monitor, track, and project use of funds.
If you’re getting CARES Act stimulus support, you’re likely facing questions about the use of funds. How does provider relief funds get accounted for in conjunction with SBA PPP forgiveness calculations? How should we account for lost revenue? When will COVID-19-related losses exceed stimulus fund receipts? What impact would refunding stimulus funds have on cash and investments? What’s the overall impact on operations?
Get the answers as we use our financial modeling tool specially designed to help senior care and living providers document necessary CARES Act use of funds and forgiveness information.
We will help you:
- Your current state of operations.
- The impact COVID-19 has had on operations to date.
- Your ability to implement change (including managing staffing and increases in supply costs).
- Strategies that help to mitigate downside scenarios.
- Your current and projected cash burn rate.
- Monitor, track, and project the sources and uses of relief funds, lost revenues, and increased expenses relating to COVID-19.
- Project out short- and long-term future scenarios and potential impacts to census and operations.
To find out more about how we can use the CARES Act stimulus reconciliation model to capture your key CARES Act information and provide historical and projected results, contact us using the form below.