Categories
Business Trends

Healthcare Accounting Strategies for Process-Based Cost Reduction

Healthcare Accounting Strategies for Process-Based Cost Reduction

Facing mounting Healthcare Accounting financial pressures and a payment system increasingly focused on quality of care over volume, Home Healthcare Accounting HHA’s are realizing that traditional Healthcare Business Plan cost-containment efforts directed at line-item cuts in labor and supply purchase prices are neither sufficient nor effective long term Health Care Business Plan . To create sustainable levels of improvement, Home Healthcare Agencies Healthcare Accounting need to approach Healthcare Accounting cost reduction from a more strategic viewpoint and change processes of care so they can better utilize resources and capture efficiencies. Following such an approach isn’t easy. All too often, process based cost-management  Healthcare Business Plan initiatives fall victim to inadequate goals, poor understanding of progress, and insufficient physician and executive support. With this in mind, the following report focuses on ways Home Healthcare Agencies Health Care Business Plan are structuring their decision making to avoid these common pitfalls and various strategies for uniting clinical and financial leadership to create and support cost-effective process change.

Healthcare Accounting Need for Process-Focused Cost Management

Formal examination of Healthcare Accounting cost management processes is becoming increasingly important to Home Healthcare Agencies and Health Care Accounting Healthcare Business Plan for a number of reasons. Optimizing financial performance is key as the industry struggles with the effects of a continued weak economy, including a rise in the number of self-pay; stagnant or declining revenue from outpatient services as consumers with high-deductible health plans put off elective care; and reduced Medicaid payments as state governments wrestle with massive budget deficits.1 At the same time, demands on capital remain high as organizations seek achieve electronic health record meaningful use and deal with the ongoing need to invest in facility upgrades or expansion. For the past several years, Healthcare Accounting cost-containment efforts have concentrated largely on traditional Healthcare Accounting targets, such as supply costs and labor. For the most part, Home Healthcare Accounting have been trimming supply costs by negotiating lower prices and more advantageous contracts, standardizing product choices, engaging physicians in supply-chain projects, and holding departmental managers accountable for supply costs and savings. Labor reductions have focused on reducing staff, reducing contributions to retirement plans, and freezing or cutting salaries. These Healthcare Business Plan avenues for cost control are narrowing, however. As leadership has gathered the “low-hanging fruit” with intense scrutiny of line items, the need for more substantial, year-over-year savings continues. As a result, healthcare executives are focusing increasingly on Health Care Business Plan process reengineering. More than 80 percent of HFMA Healthcare Financial Pulse survey respondents believe process improvement will be a core cost-management Healthcare Business Plan strategy for the foreseeable future.2 Payment change is a key factor driving Home Healthcare Agencies’ need for a more sophisticated approach to cost management. Home Healthcare Agencies have always pushed for efficiency while supporting patient safety and clinical quality, but with payment change, these efforts have taken on new levels of financial urgency. Quality and patient satisfaction are being factored into Medicare payment, while private payers are pushing for performance-and risk-based payment structures, capitated contracts, and pay-for-performance incentives. In this environment, reducing expense is not enough. Leadership also needs to ensure these efforts support delivery of high-quality care. As Home Healthcare Agencies adapt to these process-focused, value-driven shifts in cost management, key will be developing the right structures for collaborative decision making, setting priorities, tracking improvement, and creating widespread systems of accountability.

Healthcare Accounting and Business Plan & Decision Making

Healthcare Accounting Cost control should no longer be considered a unilateral function of the administrative or financial side of an organization. It should factor in both clinical and a Health Care Accounting financial processes and their linkages so cost cutting can streamline service delivery without compromising quality. Cost management decisions should therefore rely on input from financial and clinical leadership. At University of Alabama (UAB) Hospital, Birmingham, one of the top 20 largest academic medical centers in the United States, leadership has aligned strategic and business imperatives with the organization’s pillar goals of quality, satisfaction, and finance. The organization’s three- to five-year strategic Health Care Business Plan financial forecast projects anticipated growth and determines the related timing with which efficiency gains need to be realized. “Key leadership, which includes the CEO and the board, establishes the strategic plan,” says CFO Mary Beth Briscoe. “We evaluate market share and anticipated changes in payment to determine the magnitude of required operational improvements. From this strategic overview, we develop more tactical plans to achieve the improvements within our three pillar goals.” For key initiatives, University Hospital first forms an oversight or executive committee with members from various disciplines, which includes nursing, medical staff, finance, and operations. This committee provides perspective on the effects of any changes in policies and practices and identifies any potential fallout or unintended consequences. Critical initiatives utilize a project management framework and are led by appropriate clinical and non-clinical leadership. An executive steering committee may include clinical chairs and department heads. “This is the key strategic committee that reviews and evaluates all recommendations and determines the optimal implementation plan,” says Briscoe. “Their charge is to ensure that all perspectives are considered, identify barriers to change, provide guidance on eliminating or mitigating those barriers, identify alternatives, and execute change.” Members of this group are carefully selected. “To be successful, all stakeholders must have a representative in the process,” says Briscoe. “We choose strategic, broad thinkers—people who can think longitudinally across the process and the organization and who have influence to affect process change.” The group is committed to ensuring process changes do not compromise clinical outcomes, safety, or satisfaction for the sake of cost reduction and that the net impact of any process change is beneficial to the hospital and patients. “It is only at this point, once the organization has gathered the correct information, assessed the alternatives, and evaluated the impact on cost, quality, and satisfaction, that it is ready to implement change,” notes Briscoe.

Categories
Accounting

Home Health Care Accounting Is Challenging

Home Health Care Accounting Is Challenging

Home Health Care Accounting Is challenging, not because it’s different from other accounting practices, because of the level of detail your financial statements must have in order to properly file your Home Health Care Agency Medicare Cost Reports.

Our Home Health Care Accounting services specialize in the field of home health care accounting, Medicare Cost Reports and other regulatory requirements.

The narrower aim of home health care accounting and our Home Health Care Accountants  is to assemble and structure information on the health care system that is needed to hold the providers of health care formally accountable for the cost and the quality of the products and services they deliver.  Our Home Health Care Accountants seek to measure the financial outcome of the myriad decisions made in a business during a quarter or full year.

The challenges of home health care accounting can be illustrated the chart below:

The fundamental statement in this chart is the company’s statement of financial position. It presents dollar estimates of the real, financial and intangible assets to which the company has legal title, all of the debt it owes and the difference between total assets and total debt, which is the company’s net worth, also called owners’ equity.

Health Care Accounting Accountants understand the reporting requirements of a Home Health Care Agency via the Medicare Cost Reports. A typical business can group all its sub-contractors into a single line item on its financial statements. Home health care accounting is much different. You must track and break out the individual disciplines of the sub-contractors on your financials (i.e. PT, OT, ST, HHA etc). If these are grouped together, preparing your Medicare Cost Report will be a nightmare. Furthermore, the corporate tax returns must match the Medicare Cost Reports. Which means that if you’re chart of accounts is not sufficiently detailed the preparation of both your Medicare Cost Reports and corporate tax returns will be impossible.

A rejection of your Medicare Cost Report by Palmetto GBA could mean your payments from Medicare will be suspended.

Our Home Health Care Accountants specialize in home health care accounting. Please call us for a free initial consultation and assessment of your accounting records to ensure a smooth year end and subsequent filing of your tax returns and Medicare Cost Reports.

 

Categories
Accounting

Healthcare Accounting in Miami

Gustavo A Viera CPA are expert Healthcare Accounting in Miami providing a wide variety of HealthCare Accounting financial Management Services

Healthcare Accounting in Miami Services for doctors, dentists, healthcare professionals and healthcare related businesses. Our services are designed to simplify the process for you by providing comprehensive accounting, tax and financial management services. Gustavo A Viera CPA has over 25 years of being Healthcare Accounting in Miami focusing on healthcare professionals and their businesses.

Our Healthcare Accounting in Miami have always been involved with Healthcare Accounting in Miami in some capacity. Our first job was in the Chartroom for a local hospital.  As Healthcare Accountants in Miami  we feel that we could provide value by speaking to physicians in their own language and having significant knowledge of Health Care Accounting. Over the past 25 years our Healthcare Accounting in Miami commitment to healthcare has grown stronger as the economic changes have forced the healthcare industry to look past their primary objective, that of providing care, to that of earning a living.

Our Healthcare Accounting in Miami expertise will aid the preparation of a tax return and especially AHCA Cost Report. Tax & Medicare laws are very complicated and filled with exceptions to every rule. Most clients do not know if the return is wrong or right, and it may not matter since defending an audit, even if you are 100% correct, can cost you thousands of dollars. In many cases, different Healthcare Accountants in Miami will see things differently and arrive at different conclusions based on the facts of your return. The most important thing is that YOU understand what is on your return. The IRS & AHCA have increased the fines and penalties for return errors and it is becoming increasingly more complicated to prepare a return or AHCA Cost Report.

We’ve had clients, who prepare their own AHCA Cost Report., come to him after the AHCA has suspended billing during a review.

Our Healthcare Accounting in Miami services are performed by healthcare accountants. With Gustavo A Viera CPA you can be assured that your Healthcare Accounting in Miami team has significant, relevant experience with healthcare providers like you. Your Healthcare Accounting in Miami team will consist of individuals who spend virtually all of their professional time serving the healthcare industry – not manufacturing, retail or other industries.

Viera provides audit and Healthcare Accounting in Miami services to healthcare entities ranging in size from small physician practices and ancillary providers to multi-state integrated healthcare organizations with assets in excess of $1 billion. This experience across the spectrum of healthcare allows our Healthcare Accountants to quickly identify the financial reporting areas of greatest risk to your organization and to more efficiently and effectively perform audit or accounting services. Further, our Healthcare Accounting teams are structured to allow our senior executives more time with our clients in order to provide the “hands on” experience and oversight.

The following is a partial listing of the types of Healthcare Accounting in Miami services Gustavo A Viera CPA offers our clients:

  • Audits, reviews, and compilations of financial statements
  • Audits in accordance with Government Auditing Standards and OMB Circular A-133
  • Internal control reviews and risk assessments
  • Impairment testing of intangible assets
  • Agreed-upon procedure reports and special reporting
  • Transaction accounting assistance, including allocation of purchase price
  • New accounting standard implementation
  • Forensic accounting and dispute resolution
  • Outsourcing of internal audit functions
  • Accounting policy and procedure manual development

As Healthcare Accounting in Miami focused on serving the healthcare industry (over 75% of our revenues are healthcare related), we have available the resources to supplement the extensive knowledge of our Health Care Accountants through the use of our dedicated reimbursement, clinical and healthcare tax departments. Our relationships with lending institutions, bond underwriters and rating agencies are such that Viera is a nationally recognized Healthcare Accountant  in connection with debt issues.

Our Healthcare Accounting services in Miami consults practices and healthcare related businesses at every stage of the business cycle across the spectrum of medical specialties and allied fields. We work with you to increase revenues, reduce costs and enhance client/patient satisfaction.

Categories
Accounting

Home Healthcare Accounting

Home Healthcare Accounting

Home Healthcare Accounting for home healthcare, hospice, assisted living facilities and outpatient services are among the fastest growing and most competitive segments in the healthcare industry. At VieraCPA a Miami CPA Firm specializing in Home HealthCare Accounting we understand the complexities involved in running this type of healthcare practice, where regulation changes are the norm. Today, more than ever, your organization needs sound financial, Home Healthcare Accounting and tax advice to help your practice be successful and competitive. Our CPA Home HealthCare Accounting can offer unparalleled financial expertise whether you are a home healthcare practice, hospice provider, mental health practitioner or an assisted living facility.

We provide a complete range of Home HealthCare Accounting, tax, practice management and advisory services designed specifically for this type of healthcare practice.

Home HealthCare Accounting Services include the following:

Home Healthcare Accounting and Tax Services:

  • Financial statement preparation
  • Outsourced controller/CFO
  • Outsourced accounting and bookkeeping
  • Tax planning and preparation – business and individual
  • Payroll and payroll tax reporting
  • Accounting software support – QuickBooks
  • Annual cost reporting for Medicare and Medicaid providers
  • Houston incorporation
  • Entity selection – (Sole proprietor, LLC, S Corp, C Corp)
  • IRS Representation
  • Cash flow and budgeting analysis
  • Financial planning and analysis
  • Retirement planning

 Home Health Agencies Accounting Practice Management Services:

  •  Choosing the right type of entity – (Sole proprietor, LLC, S Corp, C Corp)
  • Strategic planning
  • Practice start-up consultation
  • Practice valuation
  • Contract review and negotiation
  • Capital acquisitions
  • Compliance/HIPAA programs
  • Nursing/therapy department cost efficiency analysis
  • MDS/Clinical analysis
  • Billing, insurance and accounts receivable management
  • Software system design
  • Reimbursement consulting
  • Operational review
  • Financing assistance
  • Business plans
  • Equipment acquisition planning
 Home Health Agency Accounting Practice Transition Services:
  •  Mergers and acquisitions
  • Buy/sell agreements
  • Lease vs. buy analysis
  • Real estate sale or purchase
  • Financing
  • Litigation support
  • Succession planning
  • Practice transitions – sale, merger, acquisition, partnership
 Home Health Agencies Accounting Wealth Management Services:
  •  Retirement planning
  • Succession planning
  • Estate planning
  • Asset protection
  • Insurance needs
  • Benefit plan selection and structuring

Home Health Agency Accounting experts. Call us 786-250-4450 for a free initial consultation.

Categories
Accounting

Healthcare Accounting FASB Updates

Miami Healthcare Accounting Publishes FASB Updates

Current healthcare accounting practices and health care entities recognize patient service revenue at the time the services are rendered regardless of whether the entity expects to collect that amount. Stakeholders raised concerns that such health care accounting practices result in a gross-up of patient service revenue and the related provision for bad debts, according to Healthcare Accountants VieraCPA. Additionally, because health care entities make their own judgments regarding adjustments to revenue and bad debts, those judgments are different from one health care entity to another and comparability is impaired, making analysis difficult for healthcare accounting and financial statement users.

The objective of this Update is to provide financial statement users with greater transparency about a health care accounting entity’s net patient service revenue and the related allowance for doubtful accounts. This Update provides information to assist healthcare accountants and financial statement users in assessing an entity’s sources of net patient service revenue and related changes in its allowance for doubtful accounts. The amendments in healthcare accounting require health care entities that recognize significant amounts of patient service revenue at the time the services are rendered even though they do not assess the patient’s ability to pay to present the provision for bad debts related to patient service revenue as a deduction from patient service revenue (net of contractual allowances and discounts) on their statement of operations.

Healthcare Accounting Who Is Affected by the Amendments in This Update?

The amendments in this Update affect entities within the scope of Topic 954, Health Care Accounting, that recognize significant amounts of patient service revenue at the time services are rendered even though the entities do not assess a patient’s ability to pay. All other entities would continue to present the provision for bad debts (including bad debts associated with patient service revenue) as an operating expense.

What Are the Main Provisions?

The amendments in this Update require healthcare accountants to change the presentation of their statement of operations by reclassifying the provision for bad debts associated with patient service revenue from an operating expense to a deduction from patient service revenue (net of contractual allowances and discounts). Additionally, healthcare accounting entities are required to provide enhanced disclosure about their policies for recognizing revenue and assessing bad debts. The amendments also require disclosures of patient service revenue (net of contractual allowances and discounts) as well as qualitative and quantitative information about changes in the allowance for doubtful accounts.

How Do the Main Provisions of Healthcare Accounting Differ from Current U.S. Generally Accepted Accounting Principles (GAAP) and Why Are They an Improvement?

The Health Care Accounting amendments in this Update change the presentation of the statement of operations and add new disclosures that are not required under current GAAP for entities within the scope of this Update. The provision for bad debts associated with patient service revenue for certain entities is required to be presented on a separate line as a deduction from patient service revenue (net of contractual allowances and discounts) in the statement of operations. This change in the presentation of the statement of operations will be an improvement from current GAAP because it will result in the presentation of an amount of net patient service revenue (after any provision for bad debts) that is closer to the amount that the health care entity expects to collect, according to Healthcare Accountants VieraCPA. The new disclosures will assist users of financial statements to better understand how health care entities recognize patient service revenue and assess bad debts.

When Will the Amendments Be Effective?

For public entities, the healthcare accounting amendments in this Update are effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2011, with early adoption permitted. For nonpublic entities, the health care accounting amendments are effective for the first annual period ending after December 15, 2012, and interim and annual periods thereafter, with early adoption permitted. Healthcare accountants adopting the amendments to the presentation of the provision for bad debts related to patient service revenue in the statement of operations should be applied retrospectively to all prior periods presented. The disclosures required by the amendments in this Update should be provided for the period of adoption and subsequent reporting periods.

How Do the Healthcare Accounting Provisions Compare with International Financial Reporting Standards (IFRS)?

IFRS does not currently require similar presentation or disclosures as set forth in the amendments in this Update. However, the Boards recently completed redeliberations on an Exposure Draft, Revenue Recognition (Topic 605): Revenue from Contracts with Customers. In redeliberations of that Exposure Draft, the Boards tentatively decided to present impairment losses (that is, bad debts) from contracts with customers as a separate line item adjacent to the revenue line item (as contra revenue), consistent with the provisions of this Update. In addition, the Boards tentatively decided that disaggregated revenue information should be disclosed. The Boards plan to reexpose the tentative decisions reached in redeliberations of that Exposure Draft in the second half of 2011.

 

Categories
Accounting

Health Care Accounting Cycle

Miami Health Care Accounting Cycle

‘The Health Care Accounting Process’ itself is quite a vast topic to discuss. There are numerous factors involved in it which finally complete the cycle. The Health Care accounting process is also known as the Health Care Accounting Cycle. It starts with recording a transaction and ends with the closing of books by your Health Care Accountants. There are several methods used to record, analyze and finally close the data as final data of the year. Double checking the transactions recorded analysis of the data and creating a balance sheet for the upcoming year is also a part of this process.

Health Care Accounting site 5 major steps which complete the Health Care accounting process. The following are the 5 steps:

Identifying the Event:

Identification of a transaction or any other similar event which needs to be recorded is the first step in the Health Care accounting process. The Health Care Accountants needs to recognize whether this event is of any value to the accounting books of the company or not.

Preparing Source Documents:

The second step is to prepare the source document of the transaction. The source document can be a promissory note, an invoice and so on. Without the creation of this document, it won’t be possible to record the transaction.

Analysis of the transactions:

Analyzing and classifying the transactions refers to quantifying the transaction in monetary terms. This means that the money paid or the credit created should be present for recording.

Recording Transactions:

This part includes recording the transactions into the journals. There are different journals such as the purchase journal, sales journal and so on. Each transaction needs to be recorded in its respective journal.

Analyzing Entries:

By transferring the entries to the ledgers and then finally into the balance sheets and income statement, a double check is made on the credibility of the transactions. In various cases, while transferring the transactions to the ledgers, faults are spotted in recording by the Health Care Accountants.

These are the five basic steps of the Health Care accounting process. Without these steps, it is impossible for an organization to check the profit and loss of the year.

Categories
Medicare

Healthcare Accounting Services & Nonprofit Healthcare Organizations

Healthcare Accounting Services & Nonprofit Healthcare Organizations

Miami Accounting Service  Gustavo A Viera CPA specializing in Healthcare Accounting Services describes the federal income tax treatment of healthcare organizations that are exempt from tax under §501(a) of the Internal Revenue Code.

Healthcare Accounting Services VieraCPA notes that since many nonprofit healthcare organizations qualify for exemption under §501(c)(3) and how a healthcare organization may qualify as a charity, emphasizing the evolution of the current requirement that the organization be organized and operated for the promotion of health. Miami Accounting Service VieraCPA specializing in Healthcare Accounting Services describes the types of healthcare organizations that may qualify under §501(c)(3) and tells how they may achieve public charity status, either as a per se public organization, a publicly supported organization, or a supporting organization.

Healthcare Accounting Services VieraCPA site presents an overview of the federal income tax laws applicable to nonprofit healthcare organizations, such as hospitals, managed care organizations, and integrated delivery systems. In recent years the healthcare industry has experienced unprecedented change  and growth. Miami Accounting Service VieraCPA specializing in Healthcare Accounting Services notes that hospitals have added ancillary operations to their systems and joint venture arrangements between hospitals and physicians are common. The IRS has ruled on a number of whole-hospital joint ventures and they have been reviewed by the courts as well. More guidance from the IRS for joint venture arrangements, and in particular ancillary joint ventures, is expected to continue as joint ventures become more prevalent.

Healthcare Accounting Services VieraCPA states the importance of these contemporary joint ventures and analyzes the related federal income tax issues. Financing these ventures and the income derived from these operations all must be analyzed for federal income tax purposes. Many of these arrangements and transactions have created a new set of issues for healthcare administrators, Miami Accounting Service specializing in Healthcare Accounting Services and the IRS to resolve, and in some cases present issues of first impression; not only with respect to whether the particular arrangement or transaction may produce unrelated business taxable income, but more importantly, whether the activity may adversely affect the organization’s ongoing tax-exempt status.

In a nutshell, Healthcare Accounting Services VieraCPA notes the requirements for tax-exempt recognition, and what is required to maintain it; physician-hospital relationships; managed healthcare organizations; tax-exempt financing; unrelated business income tax issues; taxable subsidiaries; employment tax issues; IRS audits of hospitals; fundraising activities; and reporting rules.

Miami Accounting Service VieraCPA specializing in Healthcare Accounting Services addresses the IRS has been stressing for some time the importance of a conflicts of interest policy. In the wake of the Enron scandal, and influenced by the Sarbanes-Oxley Act, the governing bodies of healthcare organizations, both for-profit and non-profit, have had to re-examine their corporate responsibilities. Many of these principles are discussed in this Portfolio generally.

Healthcare Accounting Services VieraCPA also details the federal anti-kickback and anti-referral statutes, with which healthcare organizations must comply to maintain their tax-exempt status. It discusses this important body of nontax law which has significant tax implications for all healthcare organizations participating in the Medicare and Medicaid programs.

Finally, Miami Accounting Service VieraCPA specializing in Healthcare Accounting Services notes a number of other issues that have become significant in the healthcare field in recent years. These include transactions with hospital staff physicians; deferred compensation and profit-sharing arrangements with physicians and staff; healthcare partnerships and joint ventures; the status of managed care organizations, including health maintenance organizations; integrated delivery systems and the purchase of physician practices; the unrelated business income tax; the creation and use of for-profit subsidiaries; tax-exempt financing; employment tax issues; IRS healthcare audits; tax and reporting requirements related to fund-raising; and general compliance, filing, and disclosure issues.  Medicare and Medicaid fraud and abuse are addressed. Although not involving federal income tax issues, compliance with the anti-fraud statutes and anti-referral statutes is integrally related to continuing tax-exempt status. Moreover, there are many instances where the IRS rules are at odds with federal fraud and abuse laws. For example, many of incentives permitted by the IRS in the case of physician recruitment would implicate either the federal Anti-Kickback Statute or the anti-referral law, commonly referred to as the “Stark Laws.” Gainsharing arrangements are another example where the IRS provided a favorable ruling only to be found by the Office of Inspector General of the Department of Human Services to violate the federal fraud and abuse laws. This friction is discussed as well as other instances involving transactions with tax-exempt healthcare organizations that may be affected by both federal income tax consequences and the federal fraud and abuse laws.

The Worksheets contain selected IRS publications and determination letters related to current tax issues in the healthcare area. They also include the relevant Medicare and Medicaid statutes.

Healthcare Accounting Services VieraCPA allows you to benefit from:

Hundreds of hours of original research on specific tax planning topics from leading practitioners in this area

  • Invaluable practice documents including tables, charts and lists
  • Plain-English guidance from world-class experts
  • Real-world and in-depth analysis that lets you explore various options
  • Time-saving access to relevant sections of tax laws, regulations, court cases, IRS documents and more
  • Alternative approaches to both common and unique tax scenarios

 

Categories
Medicare

Healthcare Accounting & Medicare Cost Report

Healthcare Accounting & Medicare Cost Report

Within the last 25 years our Healthcare Accounting Service in Miami have prepared hundreds of Medicare Cost Report and our commitment to Healthcare Accounting Service has grown stronger as the financial changes have forced the healthcare industry to look past their primary objective, that of providing care, to that of earning a living.

Our Healthcare Accounting Service abilities will aid the preparation of a tax return and especially Medicare Cost Report. Tax & Medicare laws are complicated and filled using exceptions to every regulation. Most clients do not know if the return is wrong and right, and it may well not matter since defending an audit, even if you are 100% correct, can cost you thousands of dollars. In many cases, different Healthcare Accounting Service will discover things differently and get different conclusions good facts of your go back. The most important thing is that you understand what is on the return. The IRS & MEDICARE get increased the fines and penalties for return errors plus its becoming increasingly more complicated to arrange a return or Medicare Cost Report.

We’ve had clients who prepare their own Medicare Cost Report, come to him after the Medicare has suspended billing during a review.

Healthcare Accounting Service

Our Healthcare Accounting Service are precisely that – healthcare accountants. With Gustavo A Viera CPA you will be assured that your Medicare Cost Report company has significant, relevant experience with healthcare providers like you. Your Healthcare Accounting Service team will involve individuals who spend virtually all of their professional time serving that healthcare industry – not necessarily manufacturing, retail or some other industries.

Viera provides audit and Healthcare Accounting to healthcare entities ranging in dimensions from small physician practices and ancillary providers to help multi-state integrated healthcare organizations with assets for longer than $1 billion. This experience across the spectrum of healthcare enables Healthcare Accounting Service to quickly identify the financial reporting areas of greatest risk to your small business and to more efficiently and effectively perform audit or accounting services. Further, our Healthcare Accounting Service teams are structured providing our senior executives more hours with our clients so as to provide the hands on encounter and oversight.

The following can be a partial listing of the categories of audit and Healthcare Accounting solutions Gustavo A Viera CPA offers our clients:

· Audits, feedback, and compilations of fiscal statements

· Audits in acquiescence with Government Auditing Principles and OMB Circular A-133

· Internal control reviews and risk assessments

· Impairment testing of intangible possessions

· Agreed-upon procedure reports together with special reporting

· Transaction accounting assistance, including allocation of final cost

· New accounting standard setup

· Outsourcing of inside audit functions

· Accounting insurance coverage and procedure manual advancement

As Healthcare Accounting Service dedicated to serving the healthcare market (over 75% of our revenues are healthcare related), we have available that resources to supplement the extensive knowledge of our Healthcare Accounting Service through the use of our dedicated reimbursement, scientific and healthcare tax sections. Our relationships with loaning institutions, bond underwriters and rating agencies are in a way that Viera is a nationally recognized Healthcare Accounting Service in connection with debt issues.

Our Medicare Cost Report consults practices and healthcare related small businesses at every stage with the business cycle across that spectrum of medical areas and allied fields. We help you to increase income, reduce costs and increase client/patient satisfaction.

Categories
Business Trends

Miami Health Care Accountants Optimistic about Business Growth

Health Care Accountants Optimistic about Business Growth

Miami Health Care Accountants are more optimistic about business growth predictions for 2012 in their respective states than the nation as a whole, according to a new survey of Health Care Accountants in Florida, Texas and California.

Those polled were most confident about the Health Care Accountants industry, and their own Health Care Accountants. Information technology tops the list of capital investments planned in the coming year. Survey respondents also anticipate some new hiring in the next 12 months. Health care costs continue to be a top concern of businesses along with government regulation and uncertainty in the tax laws.

Healthcare Accounting Service

The poll was conducted for Health Care Accountants industry and Institute of CPAs.

It polled nearly 13,000 Health Care Accountants in who are partners or sole owners of public Health Care Accountants or serve as CEOs, CFOs or presidents of companies in various industries. More than 2,100 Health Care Accountants completed the survey.

“The poll showed that Health Care Accountants in the three states feel confident about the prospects for growth in the Health Care Accountants industries they work in and serve, but still have concerns about factors beyond their control”,  said Health Care Accountants VieraCPA in a statement. This includes increasing health care costs and government regulation, and the lack of available credit to grow theirs or their clients’ businesses.”

Only 6 percent of the Health Care Accountants who responded predict robust growth in the United States, but the numbers climb as they evaluated the growth outlook for their own state (9 percent), Health Care Accounting Service industry (20 percent), and organization (26 percent).

The Health Care Accountants surveyed did not report significant decreases in workforce or revenues since the financial crises took hold, and say they expect both areas to increase marginally in the next year. These Health Care Accountants business leaders expect marginal (53 percent) or substantial (7 percent) revenue growth in the next year, with marginal (32 percent) and substantial (2 percent) growth in employment. Less than 10 percent of respondents predict a reduction in employment.

Information technology topped the list of investment and spending priorities over the next year. Sixty percent of the surveyed Health Care Accountants said their organizations plan to invest marginally or significantly more in this area followed by 40 percent planning capital spending increases. Product development and marketing/advertising will remain relatively flat with more than 50 percent citing no change in either category.

Health Care Accountants and their clients listed the ability to obtain funding as a significant area of concern. Approximately 76 percent do not think small businesses have access to adequate credit to grow or sustain their operations. The financial crisis and forecasts for slow growth greatly reduce their or their clients’ ability to obtain loans, according to 70 percent of the Health Care Accountants polled. Health Care Accountants also cite health care costs as a concern, with 98 percent of those surveyed responding affirmatively when asked if the cost of health care benefits was a worry for businesses in their states.

Some are looking into this area for savings, with 94 percent agreeing that companies are reevaluating employee/benefit costs, while 63 percent are aware of companies dropping or reducing employee health insurance coverage. Labor costs, workers’ compensation, and public pension funding were also seen as problems, with public pension exposure taking the highest percentage among the three.

 

 

Categories
Medicare

Healthcare Accountants and New OASIS Requirements for Accredited HHAs Seeking Medicare Certification

Healthcare Accountants wanting to become Medicare approved must seek guidance from their respective State Survey Agency

Any HHA seeking Medicare certification is required to meet the Medicare Conditions of Participation (CoP) prior to certification. This includes compliance with the OASIS collection and transmission requirements. New HHAs Healthcare Accountants must demonstrate that they can transmit OASIS data prior to the initial certification survey. Specifically, new HHAs Healthcare Accountants must apply for a user identification number and password to electronically transmit to the OASIS State System any encoded Start of Care (SOC) or Resumption of Care (ROC) OASIS assessment record(s) for applicable Medicare and Medicaid patients in a test mode. New HHAs Healthcare Accountants should communicate with the OASIS Automation Coordinator (OAC) in their state to comply with this aspect of the Medicare requirements prior to the initial onsite survey.

To meet the OASIS transmission requirements prior to the initial certification survey, new HHAs Healthcare Accountants need two different sets of user identification numbers and passwords; one set to access the CMSNet and one set to access the OASIS State System.

The CMSNet is a private communications network which allows data submitted to the OASIS State System to be encrypted during the transmission process precluding any unauthorized sources from intercepting identifiable data. The HHA must apply for a user identification number and password for access to the CMSNet by contacting the CMSNet Help Desk at 1-800- 905-2069. New HHAs Healthcare Accountants need to install the communications software, which is separate from the Home Assessment Validation Entry (HAVEN) software, which will allow them to access the CMSNet.

The new HHA must register for an individual user identification and password to access the OASIS State System. The HHA must complete and submit the OASIS Individual User Account Request form which is available on the QIES Technical Support Office (QTSO) website at the web link under Related Links Outside CMS.

The OAC in each SSA should assist the new HHA in obtaining the user identification number and password for CMSNet and guide HHAs Healthcare Accountants through registration for an individual user identification and password for access to the OASIS State System prior to the initial certification survey.

Once the communications software and access are in place, the new HHA must demonstrate that it can transmit OASIS data to the OASIS State System by (1) making a test transmission of any SOC or ROC OASIS data that passes CMS edit checks; and (2) receiving validation reports back from the OASIS State System confirming data transmission. The OAC in each state can assist new HHAs Health care Accounting Service with this process.

Determining Compliance with the OASIS Transmission Requirements

The OAC at the SSA can determine the Healthcare Accountants compliance with the OASIS transmission requirements from their locations; however, the HHA should maintain all copies of validation reports for its own records.

If the new HHA chooses to independently transmit OASIS data from its own office, the State HHA survey team and the OAC must communicate with each other to establish that the new HHA has successfully transmitted test OASIS data using the appropriate user identification numbers and passwords prior to onsite survey. The HHA should maintain all copies of the validation reports for its records.

If the new HHA chooses to use a software vendor to meet the OASIS encoding and/or transmission requirement on its behalf, the HHA must still establish connectivity to the state system via the software vendor. The HHA should have a written contract that describes this arrangement. The vendor must apply for access to the new agency as a Third Party submitter. Forms are available on the QTSO website at www.qtso.com. The HHA or its software vendor must contact the OAC and CMSNet Help Desk for the appropriate user identification numbers and passwords to establish connectivity with the OASIS State System. The HHA should obtain copies of all validation reports from its software vendor for its records.

If the new HHA chooses to use another certified HHA to meet its transmission requirements, for example, another established HHA in the chain or other established but non-related HHA, the HHA must still demonstrate connectivity to the state system via the other established certified HHA. The new HHA or other HHA must contact the OAC and CMSNet Help Desk for the appropriate user identification numbers and passwords in order to establish connectivity with the OASIS State System. The new HHA must have clearly written policies outlining the procedures in place with the other HHA with regard to OASIS collection, encoding, and submission to the OASIS State System and the sharing of feedback reports from OASIS State System with the new HHA.

HHAs Healthcare Accountants Seeking Initial Certification Through an Approved Accreditation Organization (AO) with Deeming Authority

An HHA may choose to obtain initial Medicare certification by electing the deemed status option through an approved AO that has been granted deeming authority for Medicare requirements for HHAs Healthcare Accountants. There are currently three AOs with deeming authority for HHAs Healthcare Accountants: The Joint Commission, the Community Health Accreditation Program and the Accreditation Commission for Health Care, Inc.

HHAs Healthcare Accountants seeking initial certification through the deemed status option must install the necessary communications software and contact the SSA and CMSNet Help Desk for the appropriate user identification numbers and passwords in order to demonstrate compliance with OASIS submission requirements prior to approval.

Exceptions to Demonstrating Compliance with OASIS Submission Requirements Prior to Approval

New HHAs Health Care Accountants that intend to admit or treat only patients to whom OASIS currently does not apply, i.e., patients under 18, maternity, and patients receiving only unskilled care or chore services are not expected to demonstrate compliance with OASIS submission requirements prior to approval.

These HHAs Healthcare Accountants must attest this intention to the SSA. After certification, if there is a change in the HHAs Health Care Accountants policies that includes the acceptance of patients to whom OASIS applies, the HHA is expected to install the necessary communications software and contact the SSA and CMSNet for the appropriate user identification numbers and passwords.

Initial Surveys

State Survey Agencies and AOs will not schedule initial surveys until the SSA or AO has determined the HHAs Healthcare Accountants status with the OASIS transmission requirement. HHAs Healthcare Accounting Service and AOs may contact the state OAC directly to determine the status of the new HHA’s activities concerning the OASIS transmission process prior to scheduling the onsite survey. The names and phone numbers of the OACs can be found at the web link Related Links Inside CMS.