Insight Article Health Care Trends and Issues for 2016 By Nicholas E. Smith, Director January 2016 2016 is sure to be exciting, as the pressure to cut costs will bring about newly emerging reimbursement methods, technological advances, and more efficient and value-driven health care service delivery. While change can be exciting, it can also create anxiety, especially among smaller rural and...
Insight Article Six Key Points About the Orthopedic Bundled Payments Initiative By Kim Heller, CPA, Partner (Part 1 of a 4-part series.) February 2016 The Centers for Medicare & Medicaid Services (CMS) and the federal government are working hard to ensure current and future Americans have access to high-quality health care and those same Americans don’t go to the...
Insight Article Telemedicine – A Cost-Effective Alternative to Improve Patient Access By Jeanne Chapdelaine, Director February 2016 Health care services have traditionally been conducted through faceto-face exchange of information between provider and patient, but advanced technology has changed how, when, and where patient care can be delivered. For example, many patients prefer...
Insight Article Are You Monitoring Your Advertising Purchases for Proper Taxability? By Craig Cookle, Partner – State and Local Tax Services, Wipfli LLP February 2016 How closely do you monitor your advertising-related purchases for compliance with state sales and use tax laws? Advertising-related purchases are facing increased scrutiny during sales and use tax audit examinations. How...
Insight Article Five Ways to Win by Doing the “Main Thing” By David Bue, Senior Manager, Strategic Advisory Services March 2016 The other day I was asked my opinion on what separates winners from losers in today’s banking environment. Without hesitation, I responded that the winners are focused on the “main thing.” That “main...
Insight Article Simplification of Accounting Items – Top 10 Ways to Make Your Life Easier in 2016 By Steve Jordan, CPA - Manager March 2016 You finally have the 2015 year closed, and your CPA firm has completed its annual audit and tax work. Now, how can you make 2016 a much more stress-free year? Our professionals have created a “Top 10” list just for you. Even if...
Insight Article Need a Service Provider for Your Employee Benefit Plan? Proceed With Prudence By Melissa Fisher, Senior Manager March 2016 Business owners are generally responsible for ensuring their 401(k) plans and other types of retirement plans comply with federal law. That includes the Employee Retirement Income Security Act (ERISA). To help carry out such responsibilities, owners often...
Insight Article To Accrue or Not to Accrue Distributions: That Is the Question By Laura Heleniak, Manager, and Dan Szidon, Partner March 2016 Entities that are organized as a pass-through entity (PTE), such as S corporations and limited liability companies, are generally not subject to federal or state income taxes. The shareholders (owners) of these entities report their share of taxable income...
Insight Article The Top 10 Pitfalls of Participating in the 340B Drug Pricing Program By Vicki Mueller, CPA, Manager March 2016 Given today’s declining reimbursement landscape, most health care organizations are engaging in additional cost-saving strategies. The federal 340B Drug Pricing Program is one such opportunity that is available to critical access hospitals (CAHs),...
Insight Article Orthopedic Bundles & Post-Acute Care Providers: Critical Analysis of the Current State By Patricia Boyer, MSM, RN, NHA, Director April 2016 The Comprehensive Care for Joint Replacement (CCJR) bundled payment model went into effect for hospitals in targeted geographic areas on April 1, but the stakes have just gotten higher for post-acute care providers everywhere. More...
Insight Article Improve Your Ransomware Awareness and Defense By Paul Johnson, Senior Manager March 2016 There’ve been a recent spate of ransomware attacks on organizations both small and midsized. One particularly high-profile case in February involved the Hollywood Presbyterian Medical Center in California. See our blog post. Attackers essentially shut down the hospital’s...
Insight Article Getting Ready for DOL’s Proposed Changes to FLSA Overtime Rules By Shelly Schwane, Senior Consultant March 2016 Can’t wait for summer? Neither can the Department of Labor (DOL)! At the recent 2016 American Bar Association’s midwinter meeting, Solicitor of Labor Patricia Smith announced that the final amendments to the Fair Labor Standards...
Insight Article Top 10 Processes for a Compliant Chargemaster By John Bartell, Health Care Consulting Partner April 2016 The following list contains 10 important processes that are essential to maintaining a compliant CDM. Studies have shown that many hospitals, even those who routinely review their CDM, fail to implement necessary changes to maintain a compliant CDM, which is critical for...
F O R E N S I C & VA L U A T I O N L OS T P R OF IT S The Basics of Lost Profits Calculations Consider these Scenarios Your company is the exclusive distributor of a line of auto parts in the United States. You discover the auto parts manufacturer is selling directly to your customers, behind your back, in violation of the distributorship agreement. You own a fast food franchise located...
EXPERTS' FORUM Accounting Fraud Prevention Tips for Businesses What is your company's annual revenue? Multiply that by seven percent. Why? According to the Association of Certified Fraud Examiners, businesses lose seven percent of annual revenue due to fraud. Prevention measures are often overlooked by growing businesses but should be incorporated into a business operational...