The New World of Revenue Recognition: BDO’s Healthcare Webinar Series

Following the new revenue recognition standard that went into effect for public entities on December 15, 2017, ASC 606 will require companies to determine revenue recognition based on five steps.
 
Our 2018 summer series will cover a variety of topics including: The Practicalities & Pitfalls in the new world of revenue recognition; complexities for long-term care; navigating the challenges of capitation payments and risk-sharing agreements; decoding challenges for government contractors; and the broader impact of ASC 606. We hope you will join us.

These educational webinars are designed to educate and provide key takeaways for busy professionals working in and with healthcare organizations. The series is produced and delivered by qualified professionals in BDO’s Healthcare practice, including advisory, tax, and assurance. One (1) hour of CPE may be earned for each of the five events. Please note: each course is complimentary, but registration is required.
 

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The New Healthcare World of Revenue Recognition, ASC 606 – Practicalities & Pitfalls Thursday, June 21, 2018  2:00 PM to 3:00 PM ET Speakers: Venson Wallin, CPA, Managing Director Karen Fitzsimmons, CPA, Assurance Partner Is your healthcare organization up to speed on the new Rev Rec standard, Revenue from Contracts with Customers (ASC 606)? The standard took effect for publicly reporting entities on Jan. 1, and all other entities must follow suit by 2019. In the first of a five-part webinar series, we’ll discuss how organizations can adopt the new standard and provide a high-level overview of its complexities and industry implications.  Following this webinar, attendees will be able to:   Identify the various stakeholders impacted by ASC 606 and how they will be impacted Begin to understand how the move to value-based payments will interact with ASC 606 Describe how ASC 606 may result in an increase in potential fraud and abuse   LEARN MORE

  

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The New Healthcare World of Revenue Recognition, ASC 606 – Complexities for Long-Term Care Wednesday, June 27, 2018 2:00 PM to 3:00 PM ET Speakers: Joann Doyle, Senior Manager Jean Lloyd, Senior Manager  While all industries must contend with the new Rev Rec standard, it could prove uniquely challenging for healthcare, specifically long-term care entities. In the second of our five-part webinar series, we’ll provide an overview of current reimbursement models, address what challenges could be coming down the pike, and explore how these changes could impact a long-term care provider’s revenue model. Following this webinar, attendees will be able to:   Learn how ASC 606 has changed the accounting for long-term care providers Describe how variable consideration will impact revenue recognition Discuss the impact of ASC 606 on financial statement disclosures   LEARN MORE

  

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The New Healthcare World of Revenue Recognition, ASC 606 – Navigating the Challenges of Capitation Payments and Risk-Sharing Agreements Wednesday, July 25, 2018 2:00 PM to 3:00 PM ET Speakers: Steven Shill, CPA, Assurance Partner and National Leader John Blakey, CPA, Assurance Partner Health insurance companies are well on their way to bringing hospital systems into the brave new world of risk-based contracting by using capitation payments to control healthcare costs. In certain cases, providers could potentially lose some of their earnings if the cost of services provided turns out more than the actuarial value assigned to them. In the third part of this five-part series, we’ll outline compliance requirements for capitation payments and risk-sharing agreements. Following this webinar, attendees will be able to:   Learn the best practices for managing utilization under risk sharing contracts Outline ASC 606 implementation strategy for capitation and risk sharing contracts Identify effective strategies for hospitals and other providers to manage population health   LEARN MORE

  

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The New Healthcare World of Revenue Recognition, ASC 606 – Decoding Challenges for Government Reimbursement Wednesday, August 1, 2018  2:00 PM to 3:00 PM ET Speakers: John Barry, CPA, Assurance Partner Michael Felczak, Director, The Rybar Group Reimbursement procedures for government contracts in healthcare are already complex and can be difficult to navigate, and the new Rev Rec standard introduces major changes to these processes. Join the fourth of our five-part webinar series when we’ll parse exactly how the new Rev Rec standard might impact the reimbursement process for government contracts. Following this webinar, attendees will be able to: Learn how ASC 606 has changed the accounting for government reimbursements Describe the considerations for government reimbursements under ASC 606 Discuss the impact of ASC 606 on accounting for cost reporting settlements   LEARN MORE

  

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The New Healthcare World of Revenue Recognition, ASC 606 – Bigger Than Accounting Thursday, August 9, 2018 2:00 PM to 3:00 PM ET Speakers: Steven Shill, CPA, Assurance Partner and National Leader Michael Stevenson, CPA, National Assurance Partner Kevin Olvera, CPA, Assurance Partner David DesRoches, CPA, Tax Partner The new Rev Rec model is indeed an accounting standard, but its implications extend far beyond just the accounting department. In the final of a five-part webinar series, we’ll discuss the broader impact of ASC 606 including internal controls, fraud risk, and income tax considerations.  Following this webinar, attendees will be able to: Describe tax considerations for the implementation of ASC 606 Identify Internal control considerations for the implementation of ASC 606 Discuss best practices when implementing ASC 606   LEARN MORE