Healthcare Consulting & Reimbursements
AAFCPAs to Present Medicare and Medicaid Cost Report Training
AAFCPAs Matt Hutt and Courtney McFarland, in collaboration with the Massachusetts League of Community Health Centers, will again present a Medicare and Medicaid Cost Report Training on October 6th, 2016, 9:00am-1:00pm at the DoubleTree Conference Center, Westborough, MA. Matt and Courtney will provide guidance and best practices in implementing the significant changes made to Federally Qualified Health […]
LILETTA IUD May Offer Cost Savings to 340B Covered Entities
AAFCPAs would like to make healthcare clients aware of a potential cost savings on an Inter-Uterine Device (IUD) for eligible patients. Medicines360 has received FDA approval for an IUD, named LILETTA®. Medicines360 is a nonprofit pharmaceutical company, and as part of their mission, they are making LILETTA® available at a reduced, fixed price of $50.00 […]
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. […]
Josh England, Esq. to Present Nonprofit Legal Seminar on Online Fundraising
AAFCPAs Nonprofit Tax Strategist Josh England will volunteer his efforts and lead Lawyers Clearinghouse’s Legal Workshop for Nonprofits: Online Fundraising: Is Your Nonprofit in Compliance? Online fundraising is a commonplace feature for many charities; however, many do not realize they are not in compliance with the myriad federal and state fundraising rules and regulations. Is […]
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 […]
Amgen Issues Credit to 340B Covered Entities Due to Miscalculation of Drug Ceiling Price
AAFCPAs would like to make clients aware of potential credits owed to your organization as a result of a miscalculation of a drug ceiling price. Recently, the drug manufacturer Amgen USA Inc. notified the Health Resources and Services Administration (HRSA) that the 340B ceiling price for multiple products had been calculated incorrectly and that credits […]
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 […]