Healthcare

More than CPAs ... Medicare & Medicaid experts.

Healthcare Overview

The HW Healthcare Advisors group was created to answer the needs of our accounting and tax clients that operate in the healthcare industry. These clients needed more than just traditional accounting and tax services – they needed experts in Medicare, Medicaid, and billing to ensure success in navigating the complex issues that are unique to this industry.

All of our clients are important to us, and we want to be a partner in your success. Our growing firm has many practice areas, but our absolute dedication to providing exceptional service to our largest niche – long-term care providers – remains.

We invite you to learn about our services and resources.

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Who We Serve

We work alongside HW&Co. accounting and tax professionals to provide our clients a full suite of CPA and healthcare consulting services from one trusted firm.

  • Skilled Nursing Facilities (SNF)
  • Intermediate Care Facilities (ICF-IID)
  • Home Health Agencies (HHA)
  • Hospices
  • Senior Living/Continuing Care Retirement Communities (CCRC)
  • Ancillary Providers (Pharmacy, Therapy, etc.)
  • Hospitals
  • Surgery Centers

Q & A

Question:

Help! My nursing facility’s cash flow has slowed to a trickle, and I don’t know if this problem is unique to us, or if everyone else is also struggling. It seems that billing requirements are becoming more cumbersome.

Answer:

Billing is becoming more of a challenge, especially due to the increase in managed care contracts that many facilities are participating in. One common statistic used to measure collections is the Days in Accounts Receivable. Here is a breakdown for your state:

  • Statewide Average (733 facilities): 41.65 days
  • Statewide Average-For Profit facilities: 40.76 days
  • Statewide Average-Non Profit facilities: 45.30 days
  • Your facility: 55.71 days

It does look like you are having a more difficult time getting the cash in the door. We can assist you in analyzing your accounts receivables aging report to see if the problem is across all payer types, or if maybe just one or two are giving you challenges. We can also assist you in billing best practice tips to ensure that you are doing everything possible to get your claims sent, and followed up on, in a timely manner.

Question:

Is DODDs ICF-IID downsizing and rebalancing initiatives to home and community services working?

Answer:

Yes, the numbers speak for themselves! Since the Ohio Department of Developmental Disabilities (DODD) issued their white paper titled “The Future of the ICF-IID Program” in August, 2012, the number of ICF beds in the system have declined dramatically.

 

2013 2017 Decrease
ICF-IID Beds 5,800 5,250 (550)
Average Bed Size 14 11 (3)

 

There are significant reimbursement incentives favoring smaller bed facilities (8 beds or less).  If you are considering a downsizing plan, please contact us to discuss various reimbursement strategies.

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