Section 501(r)’s Financial Assistance, Limitation on Charges, and Billing and Collections Requirements Explored
Overview:
When the Supreme Court upheld the Patient Protection Affordable Care Act (PPACA) in September 2012, it affirmed the new requirements for tax-exempt hospital organizations as codified under IRC Section 501(r). Nonprofit hospital organizations must now meet the following requirements to maintain their tax exempt status:
– Community health needs assessment
– Financial assistance policy and emergency medical care policy
– Limitation on charges and
– Billing and Collections Restrictions
The Knowledge Group has assembled a panel of thought leaders to provide an in-depth discussion on how tax-exempt hospitals can comply with the complicated tax requirements to help them maintain their nonprofit status. In addition, speakers will share case studies, regulatory updates and effective strategies to meet the above mentioned requirements. A LIVE interaction with the audience in a question and answer format is also included in this event.
Agenda:
Nicholas E Smith, MHA, Manager – Health Care Consulting Practice,
Wipfli LLP
Michael G. Bailey, Partner,
WFoley & Lardner LLP
- Intro (5 min.)
- In-depth discussion on how tax-exempt hospitals can comply with the complicated tax requirements to help them maintain their nonprofit status.
- CHNA (15 min.)
- Major CHNA Components and Interpretation
- Strategy for completion
- CHNA (15 min.)
- Financial Assistance Policy and Emergency Medical Care Policy – Limitation on Charges and Billing and Collections Restrictions (25 min.)
- Major Components and interpretation
- Strategy for completion
- Regulatory Updates (April Regulations)
- CHNA (25 Min.)
- Consequences of failure to comply; implications for Fin Assistance Policy, Emergency Medical Care Policy – Limitation on Charges and Billing and Collections Restrictions (15 Min.)
- Discussion and Lessons Learned (i.e. where we see potential pitfalls, areas we most often find non-compliance, etc.)
- CHNA (10 min.)
- Fin Assistance Policy, Emergency Medical Care Policy – Limitation on Charges and Billing and Collections Restrictions (10 min.)
- Q&A (10 min.)
Who Should Attend:
- Directors and Officers of Healthcare Firms
– Hospital Executives (Finance, CFOs, General Counsel and Related)
– Healthcare Organization- Financial Reporting & Accounting
– Accountants
– Attorneys
– Executive Directors
– Controllers
– CFOs
– Tax Managers
– Financial Officers
– Senior Officers
– Tax-exempt Auditors
– Tax-exempt Organization Lawyers
– Nonprofit Organization Executives
– Other Related Professionals
Nicholas Smith is a manager in the Health Care Consulting Practice of Wipfli LLP, located in the Minneapolis, Minnesota, office. …
Michael G. Bailey is a partner with Foley & Lardner LLP where he is chair of the firm’s Health Care …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
134420
NASBA Field of Study:
Specialized Knw and Apps
NY Category of CLE Credit:
Total Credits:
2.0 CLE
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SPEAKERS' FIRMS:
About Wipfli LLP
With approximately 1,100 associates and 24 offices in the United States and India, Wipfli LLP ranks among the top 25 accounting and consulting firms in the nation. Wipfli’s health care consultants have significant experience working with hospitals and health systems, rural health clinics and critical access hospitals, medical practices, and senior living organizations in 46 states. Several of our consultants have more than 30 years of experience, including executive leadership experience in the industry.
In addition to the full complement of audit, accounting, and tax services, Wipfli has a robust consulting practice with experts in strategic, operational improvement, physician alignment and performance, reimbursement, facility and financial planning, IT evaluation/implementation, and senior services. For additional information, please visit www.wipfli.com
Website: https://www.wipfli.com/
About Foley & Lardner LLP
With offices throughout the United States and across the globe, Foley combines powerful resources and award-winning client service to help you achieve your business objectives — efficiently and cost-effectively. We draw on the legal knowledge and hands-on industry experience of attorneys in more than 60 practice areas to provide the full spectrum of legal services — any of which can be tailored to meet your unique challenges.
Website: https://www.foley.com/