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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On Tuesday May 4, 2021, President Biden announced three new COVID-19 initiatives impacting RHCs. Nearly $1 billion of funding is being made available as part of the American Rescue Plan (ARP) to support rural COVID-19 response efforts and increase COVID-19 vaccine availability in rural communities. The President’s announcement included the following initiatives: Shipping New Allocations […]
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There is a new audit trend coming down the pipeline that could impact your charity reimbursement for Medicare bad debt. In the past there was no enforcement of statements being sent to a charity patient before they were deemed indigent. Until a patient has been approved for charity, they are still deemed non-indigent. Auditors are […]
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Anyone who works in the healthcare industry knows that their organization takes steps to protect patient health information under a series of guidelines known as HIPAA. There are several provisions to HIPAA that require organizations to use Federal guidelines to ensure digital health information is secure. Those provisions include: Privacy Rule Security Rule Enforcement Rule […]
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On December 27, 2020 the Consolidated Appropriations Act of 2021 introduced changes to the existing Rural Health Clinic payment structure. Changes to the Rural Health Clinic Payment Structure This legislation introduced the following reforms: Phase-in steady increases in the RHC statutory cap over an eight year period Subjects all new RHCs to the new Medicare […]
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On Thursday, December 17, Dustin Brown and John Wortley presented on the CMS Final Ruling and how it may impact your bottom line. About the Event CMS has recently issued their final changes to the 2021 Physician Fee Schedule. These changes are expected to have a significant impact on RVUs, wRVUs, and overall reimbursement. Additionally, […]
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Medicare recently published updated bad debt regulations and the time is NOW to safeguard your Hospital’s reimbursement. Are you following proper guidelines to ensure you can write-off your Medicare/Medicaid crossover accounts? The first step to ensure you are following proper guidelines is to review the “Must-Bill policy” for reimbursement of crossover bad debts below. The easiest […]
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For several years, the healthcare community has struggled to find balance between reducing administrative burden, accurately recognizing and recording services provided, and upholding and providing the highest quality care possible, all while the Centers for Medicare & Medicaid Services (CMS) operates with a budget neutral mandate. If finalized as is, the Proposed Rule1 (CMS-1734-P) will […]
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By Cory Schunemann, CPA, Manager at Blue & Co. Indiana’s 2023 Senate Enrolled Act (SEA) 417 made another change to the sales tax collection requirements for not-for-profits after 2022’s SEA 382. Not-for-profits with taxable retail sales in excess of $100,000 in the current or prior year are now required to collect and remit sales tax. […]
By Amy Sandlin, CPA, Tax Senior Manager at Blue & Co. On Thursday, Sept. 14, the IRS announced a moratorium on processing of new Employee Retention Credit (“ERC”) claims through at least December 31, 2023. This decision is in response to a flood of questionable claims and trusted tax advisors expressing a slew of concerns […]
The new Medicare Bad Debt template (Exhibit 2A) and S-10 template (Exhibit 3B and 3C) have been finalized by Medicare and are now required for cost reporting periods ending on or after September 30, 2023. This deadline is quickly approaching, and Blue & Co. wants to be sure you are prepared. If you are feeling […]
