On-Demand | Cost Data Collection: Now More Than Ever…
Recorded: Friday, May 1, 2020
FREE for AAA-Members | $99 for Non-Members (Included in ACE Subscription)
Should cost data collection be put on the back burner now? Hardly. To the contrary, cost data collection is now on the “front burner” and is a key aspect for economic survival in dealing with this National Health Emergency. Ambulance services are faced with a double whammy – huge increased costs due to the coronavirus pandemic, and on top of that, significantly declining revenues from reduced call volumes.
Federal programs, like the CARES Act relief monies require that all ambulance services accepting those funds keep track of the costs they incur “to prevent, prepare for, and respond to coronavirus.” And you are only entitled to those funds for health care related expenses or lost revenues attributable to coronavirus.
This means that getting a handle on your costs is now more important than ever before. Your ambulance service needs to be tracking costs for not just one, but two purposes now: 1) to meet the current CMS cost data collection requirements, and 2) to ensure you are properly obtaining and retaining federal and other relief monies received during the COVID-19 crisis. Without accurate and complete documentation of your costs, you may left in the lurch – returning monies if you are audited, or not being able to take full advantage of financial support that may be available in the future as a result of the this unprecedented national emergency.
Join us for a must attend webinar that will cover these key points:
• Status of the current CMS cost date collection initiative and where AAA can help
• Cost documentation requirements under the CARES Act relief fund and other COVID-19 related funding programs
• How to track your COVID-19 costs in a way that complements your current cost data collection process
• Potential legal issues for violating terms and conditions of accepting federal relief funds and how to reduce your company’s risk if you are audited or a false claim act case is filed against you