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Hospital merger and acquisition activity will continue in 2016. Northeast hospital mergers will transform how health care is delivered in the Northeast. While health systems continue to acquire physician organizations, physician groups are also starting to merge with each other.

The Centers for Medicare and Medicaid (CMS) issued a proposed rule featuring information related to the Merit-Based Incentive Payment System (MIPS). The following is an overview of some key areas.

U.S. Bureau of Labor Statistics show that the health care industry is on pace to break 2015’s number of jobs created in the economy. Newly created health care jobs account for 1 out of 6 total jobs that were created last month in the U.S. economy. Here's the breakdown.

The Health Care Compliance Association webinar in NYC highlighted the following features of electronic health records that can be misused because of a lack of internal controls and user training. Electronic health records are a tool and effective training on their software is critical.

Moving to a high-deductible health plan with higher employer contributions is a challenge for employers. Moving forward, consumers will be expected to share more of the cost of their health care benefits. Enrollment in high-deductible health plans has nearly doubled since 2010.

Important ICD-10 implementation information such as details on ICD-10 Ombudsman, format of valid ICD-10 codes and the recently announced 'flexibilities.' Also included is info on Local Coverage Determination and National Coverage Determination.

The Centers for Medicare and Medicaid Services provides consumers with reviews and ratings for Medicare providers through resources such as Physician Compare and Hospital Compare. Here are the measures each home health care agency will be graded on.

New Jersey state court rules not-for-profit hospital must pay property taxes. Judge Bianco of the New Jersey Tax Court ruled that the Morristown Medical Center, a not-for-profit hospital, does not qualify for a property tax exemption.

Understanding the increased documentation requirements of ICD-10 prior to the Oct 2015 implementation date. If providers’ documentation does not support the detail of the ICD-10 codes billed, they are at high risk of not being reimbursed and being penalized in the event of an audit.

Medicare has released data regarding charges and the payment of claims to hospitals and physicians. The effort to provide charge and cost information to Medicare beneficiaries and providers is part of the Affordable Care Act legislation.

A merger or acquisition of a physician practice is a complicated transaction. In this video series, we describe how to negotiate a potential merger or acquisition of a physician practice. View the 1st video, how to negotiate an M&A project with a health system.

The Centers for Medicare and Medicaid announced there was an 18-month backlog of hospitals waiting for a resolution of their Medicare claims. Is your hospital burdened with annual audits on behalf of Medicare and Medicaid? More info on RAC audits.

The IRS issued proposed regulations addressing investment of earnings in U.S. property as it relates to controlled foreign corporations. These regulations were to address questions arising from various changes in tax law.

The U.S. government accuses Caterpillar of tax fraud by improperly shifting billions of dollars of sales on replacement to its Swiss subsidiary. Caterpillar says it is cooperating with the authorities and vigorously contesting the IRS.

For payments and associated withholding relating to foreign persons, the IRS requires that Form 1042-S be completed. This form is similar to a Form 1099, but it specifically relates to a foreign person’s U.S.-source income.

Recently, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a reminder that April 17, 2018 is the due date this year for filing FinCEN Form 114 – FBAR, to report foreign financial accounts held in 2017.

In the course of the bankruptcy proceedings, certain of the tax attributes will be adjusted for the transactions that occur during the proceedings. As CPA’s, we are retained, with Bankruptcy Court approval to perform a wide range of services.

A recent U.S. Tax Court ruling in the case of Susan Crile may prove a valuable precedent for artists who are frequent targets of audit. The Tax Court’s acceptance of this defining argument should offer hope that the IRS may apply a fresh approach to its audits of other artists.

Voxx International is moving its corporate headquarters from Long Island NY to Florida. The Company has approximately 2,100 employees--approximately 400 of whom are on Long Island. Companies are leaving Long Island to receive significant tax incentives for their move.

Long Island New York is losing another brand. Sbarro, which sells New York-style pizza, has announced it is moving its headquarters from Melville to Columbus, Ohio. You can bet possible tax breaks and incentives will be given by the state of Ohio for the creation of new jobs.