You will appreciate that Plante & Moran accountants view financial statement audits as more than a routine, compliance activity. We will come as an independent examiner, but during the auditing process, we will also look for information that can lead to improvements and cost savings for your organization.
Has your healthcare organization expended $500,000 or more in federal funding? Whether you are spending it for integrated services development, health information technology, or other programs, you should be aware that your organization is required to file a single audit according to Circular A-133 of the Office of Management and Budget (OMB).
Non-profit hospitals that have fiduciary responsibility for their 403(b) tax-deferred retirement plans, including reporting and disclosure responsibilities, need to be gathering information to properly document these 403(b) plans and prepare for financial statement audits. These two new compliance requirements for 403(b) plans, perhaps the most substantial changes in 40 years, pose new challenges and implementation can be complex.
Our capital projects team that specializes in assisting hospitals can help you ensure that you are investing in projects with the greatest pay off in patient care and profitability. We can help you evaluate new projects in your pipeline to determine if they will have significant benefits.
E-MUSIC is a decision implementation service that helps hospitals End Medically Unnecessary Supplies in In-patient Care. E-MUSIC zeroes in on the 80,000 different items and resources that hospitals use, from shoe covers to repair contracts, and looks for ways to minimize usage and cut costs.
If you are looking for a way to improve the efficiency and accuracy of your financial planning, as well as increase your profitability and transparency, you have found what you are looking for in EPSi — a web-based, decision-support system for hospitals and health systems hosted by Plante & Moran.
Plante & Moran tax experts who understand non-profit hospitals are well prepared to help you quantify your benefit to the community. We will help you identify the information that needs to be gathered for Form 990 and then discuss the processes, procedures, and systems that need to be in place to consistently and accurately collect the required information. Because the 2009 tax year is the first year of full compliance with Form 990, Schedule H, this will be a time-consuming process.
A labor productivity analysis by the healthcare consulting team of Plante & Moran can help you better forecast staffing needs compared to projected volumes so that you can manage your biggest expense – labor costs. And with better use of labor comes improved profitability.
With the increasing pressure on hospital margins, it is imperative that providers obtain accurate reimbursement from Medicare and Medicaid as well as other third-party payors
