Are You Ready for the New 990?   The time has come. The IRS has come through on their promise to devote more resources to the tax-exempt division in an effort to curb perceived abuses in the not-for-profit sector. Whether or not the perceptions are true, changes are being made that directly affect how your board, key executives and the entire organization operate. While the entire not-for-profit sector is under scrutiny, the tax-exempt healthcare community is receiving the majority of the spotlight.   >>Learn more in the complete article

Practical Guide on How to Account for Contributions Received   First the good news, your facility just received a BIG contribution. Now the bad news, you have to figure out how to properly record it in your financial statements. Since receiving contributions is not an everyday occurrence (unfortunately) for most, the recording of grants and contributions can be a challenge. So, how do you record contributions and grants received? As with most accounting rules, it depends. Is your facility not-for-profit or governmental? Is the contribution restricted as to a purpose or certain time period? Is the contribution really an endowment? You get the picture. >>Learn more in the complete article CMS to Require No Pay Bills for Medicare Part C Patients On July 20, 2007, the Centers for Medicare and Medicaid Services (CMS) issued Transmittal 1311 entitled “Capturing Days on Which Medicare Beneficiaries are Entitled to Medicare Advantage in the Medicare / Supplemental Security Income (SSI) Fraction.” This transmittal is an attempt by CMS to capture days for patients eligible for both Medicare and Medicaid in the SSI fraction of the Medicare Disproportionate Share (DSH) calculation. >>Learn more in the complete article