Historically, Medicare and Medicaid have accounted for more than half of the $175 billion in annual nursing home industry revenues. The Patient Protection and Affordable Care Act of 2010, which cuts reimbursements for nursing homes and other long-term care, is about to change this.
Looking ahead, nursing homes will need to focus on cost containment or business combinations to survive. With experience helping organizations leverage technology for cost efficiencies and in all aspects of mergers & acquisitions, BDO can help you face the challenges of a changing industry.
Beyond traditional audit, tax and consulting work, some of the specific ways BDO can help nursing home clients include:
- Revenue cycle consulting
- Analysis of revenue recognition and reimbursement issues
- Preparation and assistance with Medicare and Medicaid cost reports
- Analysis of third-party payer reserves
- Market and financial feasibility studies
- Operational benchmarking
- Internal controls and related consulting projects
- Cost segregation studies
- Assistance with tax-exempt bond transactions
- Assistance with real estate issues
- Board and management education seminars