In 1982, Chuck Weis took his first steps inside the financial department of Sinai Health System, a safety-net provider on the South Side of Chicago. He was Sinai’s assistant controller at the time, but his public accounting background helped him ascend into the CFO role only four years later. Read the article in its entirety.
The accounting convergence movement may be waning, but that doesn’t mean international accounting rules are any less relevant in the United States. In fact, their importance is growing, according to those who say companies should be as committed as ever to learning and understanding the international rule book. Read the article in its entirety.
Scratch the surface of a rural town and chances are the healthcare, employment, and community linchpin is the local hospital. However, a fundamental challenge causing many rural facilities to shut down is the lack of ready cash flow for new equipment, construction upgrades, or staff retention.
A common challenge for multinational corporations is achieving consistency across operations in different countries with different practices and standards. Because of their size and growth through acquisitions, multinationals often end up using more than one accounting system (some are even using five or more). But running multiple accounting platforms is not only inefficient, it’s also very costly. Read the article in its entirety.
A new accounting standard for how to recognize revenue is not yet published in its final form, but that’s not stopping companies from preparing for the sweeping changes it’s expected to bring. Read the article in it’s entirety.
The obama administration’s announcement July 2 delaying the employer mandate provision in the federal health-care reform law shouldnt have come as surprise.
A recent report from audit regulators finds smaller audit firms are reducing the number of deficiencies spotted by inspectors, even as larger firms have moved in the opposite direction during the past few years. Read the article in it’s entirety.
As government and private payors shift their reimbursement strategies from fee-for-service to value-based contracting, hospitals are gradually becoming more on the hook, financially, for meeting certain quality and cost targets.
Last month, the Obama administration halted new enrollment in the Pre-existing Condition Insurance Plan because of financial concerns. Industry observers knew the program would run short of funding, so the announcement was hardly a surprise. – See more at: http://managedhealthcareexecutive.modernmedicine.com/managed-healthcare-executive/news/interactive-what-we-dont-know-about-health-reform-what-we-dont-kno#sthash.3W0xozG4.dpuf
It’s no secret that hospitals have been getting much friendlier with one another lately.
Consolidation activity in the healthcare industry has been accelerating for several years, driven by changes in reimbursement, spikes in the rate of the uninsured and major shifts on the horizon in light of government health reforms. That’s led systems small and large to buddy up in partnerships ranging from simple clinical affiliations to corporate mergers and sales. But, one type of transaction may be picking up in popularity: non-profit hospitals and health systems partnering with private equity firms.