In 2019 patient medical debt in the U.S. totaled at least $195 billion, according to an analysis by the Kaiser Family Foundation, a nonprofit organization focusing on national health issues. This is a massive figure and should be looked at as an opportunity for healthcare organizations. A survey conducted by Kaufman Hall in August 2020 […]
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One of the most challenging conversations in any multi-physician practice or specialty-based hospital employed group is about how to create a fair distribution of on-call and/or inpatient hospital service coverage while balancing the duties of an outpatient practice. The COVID-19 pandemic has contributed to clinician burnout, and physicians and Advanced Practice Providers (APPs) place significant […]
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“There may be no faster death of a great idea or business than a dysfunctional team”, said Daniel Newman from Principal Analyst of Futurum Research and the CEO of Broadsuite Media Group. Over the last 15 years, hospitals have acquired or employed clinicians and other ambulatory services. Unfortunately, not all employment arrangements are part of […]
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Elective surgical practices have suffered significantly since the beginning of the COVID-19 pandemic. Patients seeking elective surgical treatment had their procedures postponed or canceled as hospital systems were striving to preserve bed capacity in anticipation of or in response to a spike in COVID-19 related admissions. Private practices and hospital systems alike lost incredible amounts […]
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President Biden’s administration recently announced its Path Out of the Pandemic action plan which included specific guidance around a COVID-19 vaccine mandate. The action plan calls for employers with 100 or more employees to require employees to be vaccinated or submit to weekly tests, as well as requiring vaccinations for federal employees, contractors, and hospitals […]
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By Brandon Nowling, CPA, CVA, Senior Accountant COVID-19 has created much uncertainty for business owners who are considering buying or selling a business during these troubling economic times. Many owners who are considering selling are asking themselves, “What will the lasting impact be on my business? Will the decline in revenue during 2020 impact my […]
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Beginning 2011, Medicare began covering the Annual Wellness Visit (AWV) as a yearly appointment with a primary care provider (PCP) to create or update a personalized prevention plan at no cost to the beneficiary. This plan may help prevent illness based on current health and risk factors. It is not a routine physical, and an […]
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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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Since the initiation of Annual Wellness Visits (AWVs) in 2011, many health systems have attempted to increase the volume of these preventative visits for their Medicare and Medicare Advantage patients. Unfortunately, many systems have not taken the time or deployed adequate resources to effectively overcome the many barriers to an effective AWV program. In this […]
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Just as COVID-19 has wreaked havoc on the health and well-being of patients across the globe, so too has the virus had a wide-spread, crippling impact on our health system and providers. One side-effect of the unprecedented response to limit the spread and morbidity of the pandemic has been a sudden and steep decrease in […]
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Carmel, Ind. (November 23, 2022) – The accounting and consulting firms of Alerding CPA Group (Indianapolis, Ind.) and Blue & Co., LLC (Carmel, Ind.) have announced their merger. The combined firm will operate as Blue & Co., LLC (Blue & Co.), effective December 1, 2022. This acquisition will provide Blue & Co. with greater market […]
By: Holly Fields, CPA, Senior Manager Not-for-profit organizations (NFPs) that receive federal financial assistance over certain levels, either directly from a federal agency or indirectly through state or local agencies, may be required to have a single audit performed under Federal Uniform Guidance. Single Audit Requirements A single audit includes not only an audit of […]
Every three years, the Centers for Medicare and Medicaid Services (CMS) requires any Hospital that is subject to the Inpatient Prospective Payment System (IPPS) to complete an Occupational Mix Survey (OMS). This data is then used to calculate an Occupational Mix Adjustment Factor (OMAF). The occupational mix adjustment impacts a hospital’s average hourly wage and […]
