Whether you have one facility or a chain of facilities, we have the resources and expertise to handle your financial statement audit. We are one of the nation’s largest accounting, tax, and business management consulting firms, but you can depend on us for personal attention and service. They are part of our firm’s winning culture – our philosophy of putting the client first.
Non-profit senior care providers, who have fiduciary responsibilities for their 403(b) tax-deferred retirement plans, including reporting and disclosure responsibilities, need to be gathering information to properly document these plans and prepare for financial statement audits. These two new compliance requirements will require substantial changes on the part of plan sponsors. For many plan sponsors, fulfilling these compliance requirements will likely require administrative practices that were never previously considered.
If you’re like others in the senior living industry, you are probably wondering how to prepare for the increasing demands of the aging baby boomers. Should you think about expansion? Do you need to upgrade to meet their demands for more amenities? Where can you find money to finance your plans?
The clinical consulting group at Plante & Moran offers the kind of value-added solutions you seek. They have a wide range of experience working with more than 700 senior care providers on services from RAC readiness reviews to staffing analysis and recommendations, as well as the hands-on knowledge from their previous positions as nursing assistants, staff nurses, MDS coordinators, directors of nursing, reimbursement specialists, and administrators. Together the clinical group consultants have 195 years of experience.
If your senior care facility has purchased, renovated, or constructed property in the last 15 years, you should consider a cost segregation study. Cost segregation often offers the opportunity for considerable tax savings.
If the board members and executives of your tax-exempt, non-profit senior care facility have been paying little or no attention to how your Form 990 is completed, we suggest they change their priorities. The new version of Form 990 is substantially different from the prior version and is designed to enhance transparency – painting a clearer picture of the organization’s mission, finances, operations, and use of resources.
Our healthcare consultants also understand that each organization is different, so we will listen closely when you describe your challenges to our team, which includes former CFOs, administrators, DONs, and reimbursement and billing specialists.
Does finding $1 million worth of cost savings in a $15 million budget sound good to you? That is typically the level of savings opportunities our senior care team will find after conducting an operations improvement assessment of a facility. The review team includes experienced clinicians and process improvement experts whom you can trust to understand your need to balance quality care with cost efficiencies.
When your revenue is controlled by Medicare, Medicaid, and other third-party payers, cost reporting and reimbursement are essential to your financial good health. Therefore, our senior care consultants stay on top of the most current issues in reporting and have developed an unparalleled expertise for our senior care providers, including skilled nursing facilities and home health agencies.
