August 08, 2019

IPPS Final Rule FY 2020 — 3 Main Takeaways

There are two things I know will happen at the beginning of August: Football is about to begin and the newest updates on the next fiscal year payment system will soon be released. Last Friday, the Federal Fiscal Year (FFY) 2020 Inpatient Prospective Payment System (IPPS) Final Rule was released. This quickly changed my weekend plans as I delved into the details to fully understand what changes the Centers for Medicare and Medicaid Services (CMS) would implement for FFY 2020. I’m just glad it was before football season started.

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Topics: IPPS

July 11, 2019

Nonprofit Hospitals: At the Intersection of Compliance Efforts Lies Revenue Opportunity

Compliance is a fact of life for hospitals and health systems, and it’s only getting more complex. But what if I told you that by coordinating the time and effort spent on accounting, tax and reimbursement rules, you could leverage that effort to maximize reimbursements and minimize audit exposure?

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Topics: Revenue Recognition Standard

July 03, 2019

Revenue Recognition Standard Is Here. It’s Time to Fix Your AR Model

Here’s a cautionary tale: It’s early 2020 and Joe the CFO is sitting down with his hospital’s board of directors and independent auditors. Next up on the agenda: Presentation of the 2019 audited financial statements.

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Topics: Revenue Recognition Standard

May 16, 2019

BPCI Advanced – To Apply, or Not to Apply?

With mandatory programs on the horizon, the voluntary Bundled Payments for Care Improvement Advanced (BPCI-A) program offers early access to data and valuable experience in redesigning patient care. But with applications closing June 24, 2019, healthcare organizations will need to make some quick decisions about participating in this voluntary Medicare bundled payment program.

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Topics: BPCI-A

February 28, 2019

Tax Reform: Do Final 199A Regulations Help or Hurt Healthcare Entities?

We have been monitoring and reporting on tax reform for several months, including one of the most complicated areas of the new law – Section 199A, commonly known as the 20% pass-through deduction.

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Topics: Tax Reform, Section 199A

January 29, 2019

Tax Reform: Are Your Parking Expenses Deductible?

A recent notice from the Internal Revenue Service has provided additional guidance regarding changes that the Tax Cuts and Jobs Act (TCJA) made to the tax treatment of parking fringe benefits. Previously, employers could generally deduct expenses related to “qualified transportation fringe benefits” that they provided to employees, including parking. The new law disallowed this deduction.

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Topics: Tax Reform

January 23, 2019

Forks in the Road to BPCI-A Participation

“We want to pay for outcomes, not process ... We need results, American patients need change, and when we need mandatory models to deliver it, mandatory models are going to see a comeback.”

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Topics: BPCI-A

January 10, 2019

Here’s What to Expect in Year 3 of MIPS

As we move into the third performance year of the Quality Payment Program (QPP), CMS is starting to take the training wheels off the Merit-based Incentive Payment System (MIPS). The threshold to avoid a penalty in 2019 doubled to 30 points, and the exceptional performance threshold increased to 75 points (up from 70 points in 2018).

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Topics: MIPS and MACRA

December 21, 2018

Physicians: There’s Still Time for 2018 Year-End Tax Planning

Almost exactly one year ago, Tax Cuts and Jobs Act (TCJA) brought about the most significant tax reform in 30 years. It was a good news, bad news situation. The TCJA included a juicy 20 percent deduction on qualified business income for owners of pass-through entities. Sadly, the provision specifically excluded healthcare professionals and other “specified trades or businesses.” Continue reading >

Topics: Tax Planning

November 15, 2018

Physician Alignment and Data Are Key to BPCI-A Success

Bundled Payments for Care Improvement-Advanced (BPCI-A) is one of the latest evolutions of value payment methodologies to come from the Centers for Medicare and Medicaid Services (CMS). The roots of BPCI-A are in the original bundled payment demonstration project, the Acute Care Episodes (ACE) program of 2009, which shares an underlying theme that a single, bundled payment for all providers for a defined episode of care will promote efficiency of care, coordination of care and improvement in the quality of care. CMS would like to see higher quality performance paired with lower expenditures in these identified patient populations.

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Topics: BPCI-A

November 08, 2018

Tax Reform: Want to Grab Lunch?

Before passage of the Tax Cuts and Jobs Acts (TCJA), both meals and entertainment for clients and business associates were 50 percent deductible for tax purposes as long as business was discussed before, during or after the meal. Expenses for entertainment, amusement and recreation are no longer deductible starting in 2018. However, the wording in the TCJA was unclear on whether meals are now included in the overall definition of “entertainment.”

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Topics: Tax Reform

October 11, 2018

Tax Reform: Time To Change Entity Structure? Maybe Not

Since the passing of the Tax Cuts and Jobs Act (“TCJA”) in December, many healthcare providers started to wonder if there might be a tax advantage to changing their choice of entity. With the new 21 percent corporate flat tax, would C Corporations be a better option? Or would the benefit of the 20 percent pass-through deduction be more beneficial?

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Topics: Tax Reform

October 03, 2018

Price Transparency: Go Deeper Than Compliance with New CMS Rule

Chalk one up for advocates of consumerism. CMS is encouraging price transparency with its FY2019 Inpatient Prospective Payment System (IPPS) rule released in August.

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Topics: Price Transparency, Hospital Chargemaster, IPPS

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