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Two new accounting standards will begin affecting CHCs beginning with December 31, 2018 fiscal year-end. The first is a not-for-profit accounting standard for financial reporting which represents the largest change to not-for-profit financial reporting in 20 years. FASB’s goal is to improve the usefulness of information provided to not-for-profit financial statement users by eliminating diversity in practice, enhancing financial performance comparability, and increasing transparency around financial resource availability. BKD will examine the significant changes, tips to begin preparing, and example changes to the financial statements and footnotes.
The second standard is a revenue recognition standard affecting all industries including CHCs. BKD will share the basic concepts of this new standard and provide an overview of how they will affect your CHC. Once you understand the basic elements of these new standards you will be better prepared to establish a plan to implement them.
This session will consider how to apply the new FASB revenue recognition standard to your community health center’s (CHC) traditional patient service revenue…
During this session, presenters will provide insight into grant compliance issues facing CHCs based on observations from CHC audits, operational site visits, and information available from the financial capacity reviews being utilized by the Division of Financial Integrity (DFI)…
Many articles have been written, sound bites given, and rumors have circulated about the future of healthcare reimbursement in America. The only certainty is that there will be changes as payers focus on rewarding value and cost containment over volume of services provided to beneficiaries…
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