Healthcare

Healthcare Insights

A gloved hand holds a forehead thermometer to a woman's head
By James Krupienski 29 Sep, 2022
The cost of delivering healthcare has been rising for years, and the current cost accounting approach may no longer be effective in the post-COVID-19 world. A more modern cost accounting approach is needed to accurately reflect the true cost of care and improve decision making.
PRF Reporting Relief
By Sarah Rose Stack 15 Sep, 2021
In response to the recent COVID surges and natural disasters occurring in the U.S., a 60-day grace period has been put into place to allow providers who received Provider Relief Funds (PRF) ample time to come within compliance.
provider relief funds
By James K. Krupienski 17 Aug, 2021
While the COVID-19 relief provisions, as part of the CARES Act, provided a lifeline for many medical, dental, and other healthcare-related practices during the pandemic, that support was not without certain compliance requirements and reporting, which we will dive into within this article.
Provider Relief Funds
By James K. Krupienski 02 Apr, 2021
At the start of the COVID pandemic in the early parts of 2020, the concern of business survival was the number one thought of countless business, with each industry having its own struggles. The medical industry was not without its own real concerns at that time, particularly given its role in the pandemic fight. People would continue to get sick, require treatment and see their physicians, but how could it be done safely?
Chances of Qualifying for Medical Deduction Are Looking Better
By MBK 26 Feb, 2021
The Consolidated Appropriations Act extends the lower deduction floor for medical expenses past its scheduled expiration date. Even better, the new law change is permanent, meaning it has no expiration date. This article explains that taxpayers can benefit from this provision until Congress changes the threshold again — so, they might have a better chance of qualifying for a deduction this year, next year or beyond than in the recent past.
Provider Relief funds
By James T. Krupienski, CPA 24 Feb, 2021
If your healthcare practice took advantage of the Provider Relief Fund in any amount, it is highly encouraged that you speak with an advisor as soon as possible to fully understand the compliance requirements.
Consolidated Appropriations Act, 2021
03 Jan, 2021
On Sunday, President Trump signed into law the $900 billion COVID-19 relief bill passed December 21, 2020, by Congress.
By Sarah Rose Stack 21 Aug, 2020
When your medical practice was formed, many agreements were voted on, and have governed the operations of your practice since that time. One of these agreements was most likely the physician compensation formula. With the passing years and changing faces within the practice, it is likely that this agreement has remained one of the rocks – guiding the practice throughout the ever-changing medical environment.
By Sarah Rose Stack 27 May, 2020
Given today’s Covid-19 economic climate, and restrictions on the ability to practice medicine due to patient safety concerns and state shutdowns, there are many new financial struggles present in owning and managing a medical practice. Expenses continue to rise while revenues decrease, and the government stimulus packages are only temporary.
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