Hospital successfully implements a system reorganization

Client Description

A critical access hospital in Vermont

Problem/Issue

The hospital was looking to implement a significant system reorganization and awaiting approval of its Federally Qualified Health Center designation of the parent company. This was a significant undertaking, one that could provide much financial reward and at the same time streamline the organization.

BerryDunn's Solution/Approach

BerryDunn's advisors:

• Met with the hospital’s finance team to discuss the tax and accounting ramifications
• Involved a team of audit, tax and reimbursement staff and laid out implementation strategies as approvals from Medicare and the IRS would be obtained
• Provided in-depth training in federal grant requirements to the Finance department

Outcomes

Management was well-informed of the accounting, tax, and reimbursement considerations as it implemented its strategy, and the system had a successful first audit under federal grant requirements. Since this time, BerryDunn has provided tools to assist management in developing its system third-party payor estimates on a regular basis.