Healthcare

CohnReznick’s healthcare team employs a holistic approach to address your immediate needs and support your strategic vision for the future. We leverage our healthcare industry expertise encompassing audit, tax, advisory, and performance improvement to optimize value and minimize risk for our clients and their stakeholders.

AT THE INSTITUTIONAL LEVEL

Health systems and hospitals of all sizes, both public and private, risk loss of revenue unless they put in place systematic processes to assess operational fitness, troubleshoot deficiencies, and transition seamlessly to new reimbursement methodologies. CohnReznick brings in the expertise needed to analyze the financial, regulatory, and technical activities of the organization across functions. Among many of the outcomes, we may identify areas of improvement, risks, and liabilities, structure training programs, and develop solutions to Medicare and Medicaid purchasing initiatives.

AT THE COMMUNITY LEVEL

CohnReznick is active in helping community health centers evaluate their performance and reimbursement and regulatory procedures in order to operate efficiently. Each organization needs to develop its own optimal response to healthcare reform and approach to federal grants management. Our work with organizations such as the National Association of Community Health Centers, National Council for Mental Wellbeing, state and regional primary care associations, and others keeps our team abreast of the industry-wide conversation as legislation evolves, and aware of the many innovative ways that challenges are being addressed.

REFORM EXPERTISE

The practice stays abreast of regulatory changes as they happen and can strategically advise on Accountable Care Organizations (ACOs), Patient-Centered Medical Homes (PCMH), Independent Practice Associations (IPAs), Medicare and Medicaid Value Based Payment (VBP), and other operating models.

CohnReznick’s advisory, assurance, and tax services help healthcare organizations make the strategic transition required for them to survive and thrive. As part of this, we provide services specific to the healthcare industry:

Performance Transformation

We help healthcare leadership teams and stakeholders transform their organization’s strategy, operations, and finance. Services include revenue cycle optimization, strategic planning, healthcare information, technology, pharmacy operations and management, supply chain resilience, operating room management, clinical operations, and labor workforce management. Learn more.

MEDICAID AND MEDICARE RATE SETTING AND COST REPORTING

Our professionals assist with rate negotiations and regulatory reporting relative to the FQHC Medicare and Medicaid Prospective Payment Systems (PPS). This includes developing the initial PPS rate setting system including the Medicaid managed care supplemental payment program (“wraparound”).

IMPLEMENT FEDERAL COMPLIANCE PROGRAMS

We assess high risk areas and provide audit services and reporting as required for Section 330 of the Public Health Service (PHS) Act, Federal Financial Reports (FFR), and Federal Single Audit Requirements (Uniform Grant Guidance subpart F, formerly OMB Circular A-133). We also conduct annual independent audits and agreed-upon procedures for compliance with the federal 340B drug pricing program.

BUY AND SELL-SIDE DUE DILIGENCE FOR HEALTH CARE TRANSACTIONS

Our Healthcare Transaction Advisory team provides buy and sell-side due diligence services, along with industry knowledge and speed of action, to help our clients achieve game-changing results for their businesses. We assist clients in assessing risks and rewards and navigating the intricacies of transactions so they achieve maximum value from each and every transaction.  Learn more.