Health Care Services Group

healthcare@marcumllp.com

Marcum LLP's Health Care Services Group serves many clients. Within this market Marcum delivers an array of financial reporting, tax compliance and business consulting services. More than ever before, companies are subject to regulatory scrutiny, global competitive pressures and an ever increasing pace of technological change. Marcum's industry professionals guide clients through personalized, innovative strategies to increase profitability and maximize their competitive advantage.

Marcum is uniquely qualified to serve health care and real estate firms with seasoned professionals who understand the industry and specific market forces that are driving business decisions. The firm offers clients a powerful combination of people, products, technologies and results-oriented strategies to help clients meet their challenges and improve performance. Marcum has over 30 years of experience in the health care industry and real estate industry and is strategically positioned to help clients strengthen their standing in changing marketplaces.

We have a substantial number of clients in the health care industry and real estate industry which operate facilities in New York, Florida, Texas, New Jersey and Connecticut. A sample of our health care includes:

Sample of Health Care Clients

• Hospitals
• Nursing Homes
• Retirement Communities
• Continuing Care Retirement Communities
• Biotech companies
• Durable medical equipment company
• Home health care companies
• Management Service Organizations
• Article 28 Facility
• Teleradiology manufacturers
• Telemedicine providers
• Publicly-traded health care device manufacturers of MRI machines
• Publicly-traded operator of 25 diagnostic imaging centers
• Publicly-traded company which own 12 pharmacies
• Medical billing companies
• Medical device manufacturers of whole-body X-ray machines
• Medical Staffing company
• Medical Smart Card Technology company
• Private companies which manage and operate diagnostic imaging centers
• Physical medicine practices
• Multi-Specialty Practices
• Multi-office primary care practices
• Primary care practices including Group practices
• Medical management companies
• Chiropractic practices
• Physical Therapy practices

Our Services include:

Assurance:

• GAAP-Based Audits and Reviews
• Tax-based Audits and Reviews
• FASB 141 Reviews and Audits, extensive experience with "as if vacant method" to allocate purchase price to assets acquired, including values allocated to leases
• Certiorari Audits
• Risk Assessment
• Audits of percentage rents, straight-line rents, common area charges
• Reviews and assessment of internal control structure
• Familiarity with most real estate software
• REIT compliance
• Review of consolidation, including analysis of applicability of EITF 04-05 and FIN 46R
• SAS 70 reviews
• Reporting to Private Equity/Investors
• Joint Venture Accounting
• Contributions of in-kind property
• SAS 112/114 Letters
• Disclosures of complex accounting matters, including operating/partnership agreements, preference rights, distributions and derivative instruments
• Agreed-upon procedutres reports related to medical receivables and net patient revenue

Tax:

• Tax reporting and compliance Federal, State and Local
• Transaction structuring - LLC, LP, Trust, REITS, C Corp.
• Profits interest - planning and design
• Cost segregation studies
• 1031 structuring and consultations - forward and reverse
• Tax basis allocations in business combinations
• REIT consultation
• Income tax audits by Federal, State and Local authorities
• Consultations regarding Partnership/Operating Agreements
• Executive compensation planning
• Tax planning and minimization strategies

Consulting and Related Services include:

• Health Care Consulting
• Financing assistance - structured investments and traditional financing
• Cost segregation studies
• FASB 141 and 142 appraisals and allocations
• Internal control systems review and design
• Profitability analysis
• Compensation planning and design
• Budget review and preparation

Financial Reporting

• Monthly, quarterly and annual reporting including preparation of investor financial statements and accompanying footnotes
• Lender reporting and covenant compliance
• Asset level reporting

Outsourced Accounting

• General ledger maintenance, invoice processing and bank reconciliations
• Development of chart of account
• Training and oversight of accounting personnel
• Interim staffing requirements through CFO