BY Catherine Lightfoot, EEPB I recently heard a presentation by Don Harkey of People Centric Consulting Group at the 2024 Texas Orthopedic Administrators Society conference (a.k.a. T-Bones). The topic, “How the Millennials will Save Healthcare,” touched upon all the generations in the modern workforce. The premise of the discussion was to embrace the generational differences and how they make a positive contribution, rather than criticizing how they differ. At the same conference, a few administrators...

BY Aloha McBride, Global Health Leader, & Heather E. Meade, Principal, Washington Council, Ernst & Young   As the challenges of health care affordability, staffing and access continue across the US, the rise of technology presents a significant opportunity to unlock more responsive care that better addresses patients’ health and social needs while alleviating provider burden and reducing costs.   The question is, will US policymakers take action to capture this potential?   Our work...

BY Catherine Lightfoot, CPA, CHBC, Director of Healthcare at EEPB I recently attended Houston’s 2024 Healthcare Leadership Quorum (HCLQ), a platform for industry-leading experts and professionals to deliberate on the most relevant and pressing issues in healthcare. This year’s discussions centered around promoting awareness and motivating change in the areas of human capital & people strategy, artificial intelligence, and mental health.  Enlightening sessions provided deep insights into not only the challenges but also the innovative...

BY Susanne Munksted, Chief Precision Medicine Officer, Diaceutics, Kevin Entwistle, VP, Precision Medicine Strategy Services, Diaceutics, Helen Sadik, Precision Medicine Strategy Advisor, Diaceutics, Alasdair Milton, PhD, Principal, Healthcare and Life Sciences Strategy, KPMG   In this ever-evolving healthcare landscape, precision medicine (PM) has emerged as a game changer promising to revolutionize patient care, especially cancer care. By tailoring medical treatments to each patient’s characteristics, precision medicine has the potential to lead to better outcomes while...

BY Catherine Lightfoot, EEPB, CPA Firm, Houston, Texas As we settle into the Texas summer, many are making plans to retreat to a cooler climate—even if for a short reprieve from the heat. Mid-year is also a great time to schedule a Strategic Review of your medical practice.  Taking a hard look at four key areas can bring significant revenue increases and/or cost reductions to your business. Compare revenue, overhead, reimbursement, and productivity to others...

BY Susanne Munksted, Chief Precision Medicine Officer, Diaceutics, Kevin Entwistle, VP, Precision Medicine Strategy Services, Diaceutics, Helen Sadik, Precision Medicine Strategy Advisor, Diaceutics, and Alasdair Milton, PhD, Principal, Healthcare and Life Sciences Strategy, KPMG   In this ever-evolving healthcare landscape, precision medicine (PM) has emerged as a game changer promising to revolutionize patient care, especially cancer care. By tailoring medical treatments to each patient’s characteristics, precision medicine has the potential to lead to better outcomes...

BY Darron Gill, Advisory Partner, Healthcare, Houston AND Britni Barsness, Advisory Director, Financial Due Diligence Here we are again with the dawn of a new year, and questions regarding what 2024 will bring for dealmakers in healthcare and life sciences (HCLS) are front and center in the minds of many.  At KPMG, we are happy to present our thoughts around these questions in our 2024 HCLS Investment Outlook (the Outlook). The Outlook is published annually...

BY Catherine Lightfoot, CPA, CHBC, Director of Healthcare at EEPB Your busy medical practice is an easy target for embezzlers. According to the Association of Certified Fraud Examiners, approximately $25 billion annually is lost in medical practice offices from employee theft and fraud. Unfortunately, it is difficult to detect these in-house crimes, as they typically occur across several areas of the practice over several years—potentially adding up to huge amounts. Such behaviors can be categorized...

BY Catherine Lightfoot, CPA, CHBC, Director, Healthcare, EEPB Remember the Y2K drama? As the year 2000 approached, many believed computer systems originally coded in two-digit date format (MM/DD/YY) would not interpret the “00” correctly and throw us back to 1900, causing a major malfunction with profound business implications. It is now Deja vu in the tax arena with respect to the U.S. Tax Cuts and Jobs Act (TCJA). As several TCJA-related rules are scheduled to...

BY Catherine Lightfoot, CPA, CHBC, Director of Healthcare at EEPB   On September 14th, the IRS announced a pause on its review of new Employer Retention Credit (ERC) claims through December 31, 2023. They cited this action to “protect taxpayers from scams” due to a “surge of questionable claims.” How does the new announcement affect you? Many have already reaped the benefits of the ERC program. Others have outstanding claims and are waiting for a...