You can benefit from our experience serving 800 senior care and assisted living facilities
Organizations managing senior care and assisted living facilities are facing a myriad of challenges. Although the demand for services continues to grow, it is not linked to a stable bottomline. Because revenue per patient is largely controlled by big government programs, the only way to even out the debits and credits or produce a profit is to improve efficiency.
How do you improve efficiency?
Plante Moran has a dedicated team of nurses, reimbursement specialists, management consultants, real estate advisors, healthcare consultants, and CPAs who know the senior care and assisted living industry and are dedicated to finding solutions that help you increase the quality of care and at the same time improve efficiencies.
They can provide you with a menu of services that range from debt capacity and feasibility studies to cost reporting, reimbursement, and clinical consulting.
Our healthcare specialists bring hands-on knowledge of senior care and assisted living facilities and the experience and skills to customize operational and financial strategies to meet your particular challenges while allowing you to grow.
Optimizing reimbursement; training for efficiency
With the reality of reduced reimbursements from now on, it is imperative that providers obtain accurate reimbursement from Medicare, Medicaid and other third-party payers. You can depend on Plante Moran healthcare consultants to keep you informed of current reporting requirements and issues, prepare your cost reports, and analyze and interpret them to ensure optimum reimbursement is received and appropriate rates are being paid.
Besides ensuring payment for your services, we can help you with staff training essential to implementing new programs to improve efficiencies. Our clinical group can help you look at your operations and figure out what you can do improve, then train your staff to implement the changes.
Approaching your challenges from all angles
If your organization is trying to decide how it will cope with the aging baby boomers and their increasing demands for amenities, our capital projects experts can help your organization decide if you should upgrade current facilities or expand. And after that question is answered, they can help you decide how to finance your decision. They have worked on more than 100 projects totaling more than $1 billion.
If you are a not-for-profit and need help with Form 990 compliance, you can call on us to document the story of your facility and its vision. If you are a sponsor of a 403(b) retirement plan for your employees, we can help you with compliance issues, including plan documentation and financial statement audits.
We can improve your health
Plante Moran has a dedication to service that you will notice immediately when we begin to work with your organization. The firm’s philosophy is to put clients first. In keeping with that we have an award-winning culture and the highest staff retention rate in the accounting industry.
For you that means, you will see the same healthcare consultants on your projects and they will develop an institutional knowledge, so you don’t have to answer a lot of unnecessary questions and they can customize their solutions to exactly fit your challenges.
Tax Savings & Minimization
At Plante & Moran, our team of tax savings and minimization experts can help you look at state and local tax issues including multistate income and franchise tax, sales and use tax, and property tax. They will also investigate the possible opportunities for credits and incentives like historic preservation, energy saving improvements, and cost segregation to ensure that you are taking full advantage of all the available tax saving strategies.
Financial Statement Audit
Our experience with more than 400 retailers means we won’t have to waste your time asking a lot of general questions. But at the same time, we know which questions to ask so you can take advantage of opportunities to improve cash flow — from tax credits to real estate decisions.
Employee Benefits Consulting
Our employee benefit consultants will review your current healthcare benefits plans. We will create models to analyze the effects of changing various factors such as plan design, funding arrangement, vendor selection, and wellness strategies. We will help you develop employee benefits management techniques that will improve your cost management of the plans.
According to the latest statistics from the Association of Certified Fraud Examiners (ACFE), retail is in the top five industries for incidents of fraud. According to their statistics, retailers reported 63 cases of frauds with a median loss of $153,000.
PCI DSS Compliance
To stay competitive in the retail industry, customer convenience is critical, and the ability to swipe a credit card can make or break any deal. To ensure that you can continue providing that convenience, however, you must be able to prove that you are complying with the Payment Card Industry’s (PCI) requirement to document your data security standards (DSS).
Site Selection, Development & Feasibility
We offer a range of market study financial analysis services that help give senior living organizations a clearer view of all available options, while assessing and quantifying the risk and rewards of each direction. After we answer the question, “Does this investment make economic sense?”, our site selection team will help ensure the success of your senior living project from the start. Once you have planned, programmed and benchmarked your senior living project, you’re ready to move to execute the plan. Our team brings decades of experience overseeing the design and construction of senior living projects. From renovation and additions, to campus expansions, to full greenfield development, we serve as an owner’s representative to ensure projects are managed efficiently and effectively. To learn more, visit Plante Moran Living Forward