Matthew Hutt
Detailed Information Required on New Medicare Cost Report
In April 2016, the Centers for Medicare and Medicaid Services (CMS) published the new Federally Qualified Health Center (FQHC) Cost Report, Form CMS-224-14. This form replaced Form CMS 222-92 for FQHC entities, and is effective for cost reporting periods (which typically coincide with the year-end) beginning on or after October 1, 2014. AAFCPAs would like […]
Form SF-SAC Now Available on FAC Web Site, Submission Deadline Extended Further
The updated Data Collection Form (DCF or Form SF-SAC) for Uniform Guidance submissions and related instructions are now available on the Federal Audit Clearinghouse’s (FAC) website. Click here to be directed to the Instructions and Documents. >> Due to the prior unavailability of the updated DCF, an extension was previously posted to the FAC website […]
MassHealth Issues One-Time Payments to Behavioral Health Care Providers
Please be aware that MassHealth has authorized its MassHealth Reinvestment Payment 2016, a distribution of managed care savings to Massachusetts behavioral health care providers. These payments are from managed care savings that the State has authorized to be disbursed to providers under contract with a Medicaid Managed Care Organization in CY 2014. MassHealth has requested […]
Form SF-SAC Submission for Single Audits Deadline Extended
The U.S. Office of Management and Budget (OMB) created, but has yet to issue its new data collection form (Form SF-SAC) applicable to single audits performed under Uniform Guidance (UG). Nonprofits whose audits were performed under the Uniform Guidance are unable to submit the Form SF-SAC and their reporting package to the Federal Audit Clearinghouse […]
New Cost Report for FQHCs Published by CMS
On April 22, 2016, the Centers for Medicare and Medicaid Services (CMS) published the new Federally Qualified Health Center (FQHC) Cost Report, Form CMS-224-14. This form replaces the current Form CMS 222-92 for FQHC entities, and is effective for cost reporting periods (which typically coincide with the year-end) beginning on or after October 1, 2014. […]
Nonprofit Financial Statement Project/ASU Update – FASB Announces Transition Method and Effective Dates
The Financial Accounting Standards Board (FASB) reached much anticipated decisions regarding the transition and effective date for its Nonprofit Financial Statements Project, as of their most recent Board Meeting (3/30/16). The proposed Accounting Standards Update (ASU) would affect substantially all nonprofits as well as creditors, donors, grantors, and others that use their financial statements. Details […]
FASB Decisions Regarding NFP Financial Statements Project from March 2 Meeting
The Financial Accounting Standards Board (FASB) continued its Phase 1 deliberations at its March 2nd, 2016 Board Meeting on the proposed FASB Accounting Standards Update (ASU), Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities. Significant Decisions Made at the Board’s March 2016 Meeting: The proposed ASU would […]
Extensions Apply for FQHCs as New Cost Report Form Still in Review with OMB
AAFCPAs would like to make clients aware that, as of March 11, 2016, the new Federally Qualified Health Centers (FQHCs) Cost Report Form 224-14 had not been finalized and is reportedly still in review by the Federal Office of Management and Budget (OMB). It is reported that the Centers for Medicare & Medicaid Services (CMS) […]
Medicare PPS Base Rate for 2016
As a reminder, on January 1, 2016, Medicare increased the Prospective Payment System (PPS) base payment rate from $158.85 to $160.60. The PPS base payment rate is effective for the calendar year 2016 and reflects a 1.1% increase from the calendar year 2015 rate. The rate was updated to reflect inflation, and the increase is […]