Healthcare

  By Curt Nurenberg, CHBC | Matt Barczak, MBA, CPA |Jessica Watts, CPA | Don McAnelly, CPA/ABV, CGMA   As we roll into 2023, let’s prepare your practice to navigate recession disruption. We can do this by looking at best practices around technology, data, and planning. Over the last three years of the pandemic and throughout its aftermath, many of our clients continue to face challenges related to staffing and providing optimal patient care.. It’s critical for medical and dental practitioners to focus on their business and how they can better strategize for the year ahead....

  By Curt Nurenberg, CHBC | Matt Barczak, MBA, CPA | Jennifer Talwar   Quiet quitting is not new to the work force, but it is on the rise and is a growing concern for organization leaders. What exactly is a “quiet quitter” in the workforce? An employee who is disengaged, possibly coasting along in their job and doing the bare minimum on a regular basis. Their disengagement may be leading to workplace issues, including lowering the morale of offices and practices...

  By Curt Nurenberg, CHBC | Matt Barczak, MBA, CPA | Danielle Ambrozy, CPA, MBA, CHBC   It is time to step back. Why? Because much like an annual wellness exam, a proactive approach to your 2023 planning can prevent future pain, financial burden, and headaches down the road. But where do you start?..

Guidance on audit requirements for for-profit healthcare entities that received $750,000 or more in pandemic-related relief funds from the U.S. Department of Health and Human Services (HHS) were recently issued by the American Institute of Certified Public Accountants’ (AICPA) Government Audit Quality Center (GAQC). The long-awaited guidance is intended to assist auditors of for-profit entities subject to audit requirements related to awards from the Provider Relief Fund program and other HHS programs and their for-profit clients...

If there ever was a time when having a trusted business advisor to turn to for guidance and assistance was an absolute must, the past couple of years would be it. This became clear to Alice, an administrator for a Michigan healthcare practice, from the moment the pandemic hit and changed everything. “We were so stretched in the office in terms of rescheduling patients, taking the necessary precautions, implementing new procedures, protecting staff and protecting patients, and at times closing the office – all of that was taking priority,” she said. “There was just so much to take care of...

By Don McAnelly, CPA/ABV, CGMA   In an increasingly complex and competitive industry, demands placed on healthcare administration are ever-growing, with risks seemingly around every corner. Legislation and regulations, operational and financial concerns – these issues can make it hard to remain aware of new risks while keeping your organization focused on its mission, strategy, and patient care. The impact of COVID-19 has further complicated this situation. How do you identify, prioritize, and evaluate risks to your healthcare organization?..

On Jan. 15, 2021, The U.S. Department of Health and Human Services (HHS) announced an amendment to the reporting timeline and process for the Provider Relief Fund Program and opened registration for their Provider Relief Fund Reporting Portal...

The Centers for Medicare & Medicaid Services (CMS) recently announced amended terms for payments issued under the Accelerated and Advance Payment (AAP) Program as required by recent action by President Trump and Congress.  This Medicare loan program allows CMS to make advance payments to providers and are typically used in emergency situations. Under the Continuing Appropriations Act, 2021 and Other Extensions Act, repayment will now begin one year from the issuance date of each provider or supplier’s accelerated or advance payment. CMS issued $106 billion in payments to providers and suppliers in order to alleviate the financial burden healthcare providers faced while experiencing cashflow issues in the early stages of combating COVID-19...

Written by Fred Schaard, CARR Healthcare Realty   One of the most significant business decisions you will make is the strategic choice of your office’s location. In many markets, the incentives offered by landlords to new tenants make relocation more appealing than renewing a lease in your existing space, and before signing any lease renewal you should evaluate all the options in your area. If you decide to open a new office, whether as a relocation, new start-up practice, property purchase, or second office, having the right team in place is paramount and can make the process successful, profitable and maybe even fun! The unique office needs of healthcare providers are foreign to most real estate brokers, architects and other service providers...

Question: Our company is exploring the idea of offering a qualified small employer health reimbursement arrangement (QSEHRA). If we decide to go this route, would we be required to report any information about this benefit on employees’ Forms W-2? Answer: Yes. If an employee is covered under a QSEHRA, the employer must report the total amount of the employee’s permitted QSEHRA benefit on Form W-2 in Box 12, using Code “FF...