by Joseph Evenson, Staff Accountant In the business valuation world, due diligence is crucial now more than ever. The “same as last year” mentality is no longer acceptable until we have a few years of stability under our belts. COVID-19 has been, and continues to be, a unique challenge for businesses and business owners. Some […]
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Pursuant to KRS 205.640 and managed care contracts, Kentucky Medicaid Managed Care Organizations (MCOs) are required to provide a Paid Claims Listings (PCLs) to all in-state hospitals. The department and each Medicaid Managed Care Organization shall supply a Paid Claims Listing (PCL) to each hospital within ninety (90) days of the last day of the […]
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When looking at your Outpatient Physical and Occupational Therapy departments, have you noticed a decrease in the volume of outpatient services? At Blue & Co. we often find that many hospitals and hospital systems have viable candidates for outpatient therapy services but are being seen by another healthcare organization due to a lack of a […]
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Outpatient Physical and Occupational Therapy are both paid either on a fee schedule or as a percent of charges. This means that if you are missing charges, you are missing out on net revenue opportunities. It is important to have an effective charge capture program to make sure your organization is not losing out on […]
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The 340B Program has seen a lot of changes in 2021. Join Blue & Co.’s Apexus Advanced 340B Experts for a webinar on Thursday, July 15 at 12:00 p.m. In this webinar, Jason Prokopik and Chad Downing will be covering some of the current 340B trends and provide updates from recent HRSA Audits that may […]
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This is the year for many changes in healthcare and the physician coding changes that were announced in March 2021 are just one piece of that. Evaluation and Management services (E/M) have not seen a change in more than 25 years; however, this year has significant changes for the office and outpatient locations. These physician […]
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The American Rescue Plan Act of 2021 authorized $460 million of additional funding through the U.S. Department of Health and Human Services (HHS) to more than 4,600 eligible RHCs for the Rural Health Clinic COVID-19 Testing and Mitigation Program. This rescue fund will allow RHCs to expand testing efforts and help mitigate the spread of COVID […]
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Every day your organization goes through different transactions that could require your financial statements to be audited by an independent certified public accountant (CPA) firm. So, what triggers an audit? First let’s understand what an audit actually is. What is an Audit? An audit is an official inspection of an individual’s or organization’s accounts and […]
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On May 26, 2021, the Health Resources and Services Administration’s (HRSA) Federal Office of Rural Health Policy (FORHP) posted the Rural Health Clinic Vaccine Confidence Grant. HRSA will award all eligible RHCs who apply for grant funding. You must have a completed and acceptable application submitted. Grant awards are expected to be around $50,000 per […]
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After months of pharmaceutical manufacturers placing restrictions on the 340B Program to both contract pharmacies and covered entities, HRSA sent letters to six pharmaceutical manufacturers stating they violated the 340B Statute. The HRSA Acting Administrator declared these pharmaceutical manufacturers violated the 340B statue by placing restrictions on the 340B Program pricing at both contract pharmacy […]
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By Greg Jackson, CPA, Principal at Blue & Co. Many not-for-profit organizations rely on public support (grants and contributions) to finance their mission. When that public support includes donor-restricted grants and contributions, those restricted amounts must be reported and accounted for in accordance with the related restrictions attached to the funds. When recording a donor-restricted […]
In the past several years, hospitals have continued to feel the impact on revenue from Clinical Validation Denials (CVD). The need for a robust CDI team to capture support for clinical indicators while the patient is still in house is more imperative than ever. The other overwhelming piece for revenue cycle teams to manage is […]
Ensuring the long-term financial viability of a health system requires constant attention to the operating statement. This involves assessing the current state of your healthcare organization and critically comparing the current condition to industry and/or internal benchmark standards. Ultimately, this assessment assists management implement an ongoing margin improvement process to increase the likelihood of achieving […]
