Grant Thornton produces a variety of publications to keep health care professionals abreast of industry issues, informed on best practices and apprised of industry trends.
Recruiting and retaining employees is predicated on many factors, not least of which is health care coverage. The Patient Protection and Affordable Care Act (PPACA) will affect employer decisions about whether and how to provide these important benefits. This is the first in a three-part series explaining PPACA costs and requirements. The next part will be directed to providers; the final part will pertain to all businesses.
Coming together as providers and business partners, health care systems and physicians are forming ancillary joint ventures to offer efficiencies in patient care. There are considerations of controls, compensation and allocation, and the nonprofit aspect of the health care system must be maintained. It can mean a delicate balance of achieving cost savings but also keeping intact the mission and structure of the health care system. Two cases that came before the IRS are described, along with their opposite rulings.
The IRS has issued proposed regulations (REG-118315-12) for implementing the health insurance industry’s annual fee scheduled to take effect in 2014. The industrywide fee was enacted as part of the 2010 health care reform legislation; the fee is allocated among insurers based on market share.
In this issue of PhysicianRx, Bob Wilson, managing director in Grant Thornton's Health Care Business Advisory Practice, outlines four essential principles that have proven to help achieve success for an organization getting into the physician practice ownership and management business.
Health care reform, shrinking reimbursements, accountable care, electronic health records, new technologies, and ever-growing scrutiny from regulators are collectively transforming health care as we know it. Adapting to these changes demands a renewed focus on governance structures and processes. This new study, Governance in Large Nonprofit Health Systems: Current Profile and Emerging Patterns, co-sponsored by Grant Thornton and led by Lawrence Prybil, professor and associate dean, College of Public Health, University of Kentucky, examines the governance structures and practices of 14 of the largest and most well-known health care systems.
Health care M&A activity posted mixed results in 2012 following a very active 2011. Total deal volume remained at around 1,280 announced transactions, while aggregate deal value dropped by approximately $63 billion, or 39%, from the prior year. A major factor affecting the M&A landscape was the uncertainty surrounding health care reform, which persisted despite the Supreme Court’s decision in June to uphold the Patient Protection and Affordable Care Act (PPACA). The re-election of President Obama put the issue to rest.