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...

BY Stacy Nahas, Audit Chief Client Care Officer, and Christian Peo, National Managing Partner-Audit Quality & Professional Practice, KPMG US   In the current economic climate, organizations have had to adapt their disclosures and SEC filings to accommodate evolving risk areas. The volatile environment has left organizations unsure about the extent to which they will be impacted, while an increase in SEC comment letters has underscored the need for many organizations to gain deeper insight...

BY Catherine Lightfoot, CPA, CHBC, Director, Healthcare, EEPB The wait is over. The US Supreme Court voted 6-3 against President Bidens’ broad student loan forgiveness plan on Friday, June 30, 2023. During the forbearance, which began in March 2020, federal student loan payments were not required to be paid and interest did not accrue. Three years and nine extensions later, student debt bills could come as a shock to approximately 44 million borrowers. And borrowers...

BY Dr. Jay Bhatt, D.O., MPH, MPA, Executive Director, Deloitte Center for Health Solutions (DCHS) and the Deloitte Health Equity Institute (DHEI), Deloitte   We’ve all seen the headlines: Job satisfaction and employee productivity levels are plummeting while cases of burnout and absenteeism are skyrocketing. Employee mental health is declining, and work/life integration is far from balanced. With 4.5 million Americans walking away from their jobs in March alone, the so-called Great Resignation isn’t showing...

BY Catherine Lightfoot, CPA, CHBC, Director of Healthcare at EEPB Is your practice looking to change your EMR?  There are many reasons a practice could be due for a change.  Maybe you have become dissatisfied with your current system.  Maybe you have outgrown the system you are using.  Maybe the software company merged or was bought out and you are no longer satisfied with the support.  Whatever the reason, changing your EMR system is a...

BY Todd Ellis, Advisory Principal, Customer and Operations Health & Government Practice, and Health Equity Sector Leader   In America, the same city may encompass markedly different neighborhoods with divergent education, health care, home ownership, food quality and meaningful employment. These social determinants of health help determine whether a community will thrive or struggle. In Houston’s Harris County, for example, the lack of access to education and higher rates of unemployment, homelessness and poverty correlate...

BY Catherine Lightfoot, CPA, CHBC, Director of Healthcare at EEPB Are you approaching retirement age? If so, you will want to know about the SECURE 2.0 Act signed into law by President Biden on December 29, 2022. This most recent legislation makes notable changes to qualified retirement plans, expanding upon the original SECURE Act of 2019. The primary purpose of both laws is to encourage more savings for retirement by extending the age at which...

BY Catherine Lightfoot, CPA, CHBC, Director of Healthcare at EEPB Overview of recent Medicare-Medicaid legislation On January 5, 2023, the Centers for Medicare & Medicaid Services (CMS) announced an updated CY 2023 physician conversion factor (CF) of $33.8872. This update reflects a 2.5% positive adjustment from the initial quote of $33.0607 announced last November. That initial physician CF represented a 4.47% cut from the prior year. The Consolidated Appropriations Act (CAA), signed into law on...

BY Darron J. Gill, Advisory Partner, Healthcare, KPMG As a partner in KPMG U.S. Healthcare and Life Sciences (HCLS) Deal Advisory practice, I am often asked in the early months of a new year about what is happening in the deal market and what I am expecting for the new year. More voices discussing a topic is better than one, so the KPMG U.S. Deal Advisory practice has been publishing its HCLS Investment Outlook every...

BY Stacy Nahas, Audit Chief Client Care Officer, KPMG   In today’s business world there’s no shortage of volatility as inflation and supply chain disruptions brought on by the COVID-19 pandemic have impacted economies everywhere. For senior financial reporting executives — Corporate Controllers and Chief Accounting Officers in particular — there are a number of challenging issues that remain top of mind as they look to stay competitive in their industries.   ESG This topic...