On August 26, 2020, the Colorado Department of Health Care Policy & Financing Department issued Operational Memo Number HCPF OM 20-086. This memo described how the one-time COVID-19 Medicaid supplemental payment issued on May 22, 2020, is to be handled in the 2020 Colorado Medicaid Cost Report.
This revenue is to be offset against the following expense categories in proportion to each category’s total allowable expenses:
- Direct Nursing
- Medical Supplies
- Dietary Not Food
- Laundry and Housekeeping
Since the Colorado Medicaid Cost Report is a rate-setting report, this will have an effect on your Medicaid rate. The Department has already determined the categories to be affected and does not reflect how you, as a provider, actually spent this money.
Mueller Prost can analyze how this may impact you directly! As with all of the COVID-related funds being distributed at this time, please reach out to Mueller Prost for guidance.
Have you prepared all of your reporting documentation? Our HHS Provider Relief Fund – Estimated Expenses and Lost Revenue Tool has been developed for your convenience based on the HHS FAQ’s currently available. HHS will require recipients to submit future reports relating to their use of these funds – which can be very complex and intimidating to keep track of. Our team at Mueller Prost can assist you in tracking your estimated costs and help to ensure you’re prepared for all reporting documentation. Click here to learn more.