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As of October 1, 2019, CMS will Begin Enforcing Accounting Classification Rule for Crossover Bad Debts

CMS to Begin Enforcing Accounting Classification Rule for Crossover Bad Debts

April 15, 2019

On April 4, CMS announced that for cost reporting periods beginning on or after October 1, 2019, providers must comply with a “longstanding” rule to claim reimbursement for crossover bad debts from the Medicare program. After this point, providers will be denied reimbursement for their crossover bad debts unless the underlying balances are logged to a bad debt expense account in their financial accounting records.

For more details, please review the announcement from CMS here.

If you have questions about how this affects your organization or how to ensure you are compliant by the October 1 deadline, please contact Dan Rice at drice@blueandco.com.

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FAQ: System and Organization Controls (SOC) Reports

April 15, 2019

What kinds of companies need SOC reports? Organizations that provide the following types of services for customers/clients may benefit from a SOC examination and report to demonstrate to customers/clients the strength of their internal controls: Software as a Service Outsourced Transaction Processors (e.g., Payroll Processors, TPA’s) Professional Services with Access to Sensitive Client Data (e.g, […]

Managing Your Not-for-Profit for the Long Term

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Managing Your Not-for-Profit for the Long Term

April 15, 2019

The length of the current economic expansion, coupled with recent volatility in the economy and the financial markets serve as a reminder that organizations need to keep a long-term view as they strive to continue fulfilling their missions. Charitable Giving Trends and Your Donor Base The impact of the 2017 Tax Cuts and Jobs Act […]

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