CPA, Audit, Tax & Advisory Services for Community Health Centers (FQHCs)

AAFCPAs has provided CPA and advisory solutions to FQHCs and FQHC networks throughout the United States since our founding in 1973.

We have comprehensive experience with audits in accordance with Uniform Guidance / Single Audits, Financial Accounting Standard Board Requirements, state-specific financial reports, as well as organizations with employee benefit plans subject to ERISA compliance requirements.

We have expertise with the policies, procedures, and regulations related to healthcare accounting and financial requirements at all levels, including the U.S. Department of Health and Human Services (HHS), Centers for Medicare and Medicaid Services (CMS), state Departments of Public Health, and other state grant management agencies.

AAFCPAs’ Healthcare practice has deep expertise in the federal 340B Drug Pricing Program compliance. We help FQHCs:

• Successfully prepare for an Office of Pharmacy Affairs (OPA) audit,
• Ensure 340B Program integrity and maintain accurate records documenting compliance with all 340B Program requirements, and
• Mitigate major risks associated with the 340B Program.

AAFCPAs provides outsourced accounting and high-level Controller and CFO advisory services tailored to federally qualified health centers. Our advisory services help FQHCs strengthen financial performance, budgeting, improve reporting, modeling, and support long-term operational sustainability.

We are fully equipped to assume a lead role in exploring and implementing means of managing and improving the financial performance of your organization. We may also assist with the oversight of internal controls, all areas of receivables management, standards implementation, and other systems and procedures to achieve efficiencies in your business office.

Our extensive experience serving FQHCs allows our staff to provide the types of industry-specific business insights our clients need. We are intimately familiar with FQHC financial processes, risk factors, patient populations, KPIs, and regulatory environment.

AAFCPAs’ integrated Technology & Process Advisory practice provides Productivity Improvement, Business Intelligence, and IT & Cyber Security solutions.

We advise FQHCs on improving revenue cycle processes and optimizing IT systems. We provide operational process reviews and robotic process automation solutions related to billing and collection, accounts receivable management, reserve analysis, fee schedule analysis, business process improvement, and recommendations for implementing denial management processes.

We help clients transform data into actionable insights. We leverage specialized skills, state-of-the-art technologies, and proven methodologies to extract, inspect, cleanse, and model data in order to discover meaningful information that supports better decision making.

We help FQHCs protect their patients’ personally identifiable information! We help identify risks that could potentially cause information loss or financial or reputational harm. Our solutions include IT & Cyber Security Assessments, Vulnerability Management as a Service (VMaaS), and HIPAA compliance certifications.

In addition to best value assurance and tax expertise, AAFCPAs provides specialized advisory services for FQHCs to optimize reimbursements, including:

• Revenue Cycle Assessments
• Fee Structure Analysis
• Sliding Fee Discount Program Assessments
• Medicaid and Medicare Cost Reporting
• Denials Prevention and Management
• Dashboarding & KPIs
• Healthcare Consolidation & Coordination of Care

We are instrumental in helping FQHCs fund new capital initiatives with various tax credit programs. Our comprehensive knowledge of all new, existing, and changing applicable tax credits includes New Markets tax credits, federal and state Historic Rehabilitation tax credits, tax credit exchange, tax credit assistance programs, and credits for use of alternative energy sources.

We provide advisory services to limited partnerships/limited liability companies from cost certifications at the project’s inception, to exiting at the end of tax credit compliance periods.

We also assist tax exempt organizations like FQHCs in optimizing the presentation for your Forms 990 to donors and the public.