Marcum LLP’s experience in the healthcare industry covers the full continuum of care, with a special focus on the post-acute care geriatric services, hospitals, and physician practices.
We go beyond providing traditional audit and tax services and truly understand the clinical, regulatory, reimbursement, and operational challenges facing today’s healthcare industry.
To best serve our clients, we have assembled a team of professionals dedicated to meeting the specialized needs of healthcare companies and non-profit organizations, and providing resources to help them succeed in their businesses.
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Federal, state and third party reimbursement represents the overwhelming majority of payments received by the provider community. Marcum has made it our business to maintain a detailed understanding of the changing reimbursement landscape, both on a national and regional level. Through the Firm, we continue to assist the provider community in such area as:
- Medicaid/Medicare cost report preparation.
- Medicaid/Medicare compliance audit representation.
- Regulatory credentialing recertification/certification.
- Maintaining regulatory compliance.
The keys to success in today’s ever-changing marketplace are based upon a clear understanding of how the evolving landscape impacts a provider’s operations. Our team of professionals assists the provider community by offering specialized services such as:
- Full back office assistance inclusive of billing, coding, collection, general ledger maintenance.
- Strategic planning and development.
- Business valuation.
- Due diligence/merger/acquisition advisory services.
- Feasibility and market studies.
Documentation is the key to payment for healthcare providers. Insufficient or non-existent documentation can result in loss of cash flow. Marcum LLP’s clinical staff, which currently includes 3 RNs and an AHIMA-approved ICD-10 trainer, can review medical documentation on-site or remotely to ensure that there is supportive documentation for Medicare and Medicaid reimbursement, that staff is in compliance with federal and state guidelines, and that staff members understand their role in state on-site surveys. In addition, we can assist you with:
- Medicare/Medicaid certification and licensure.
- Medicare/Medicaid compliance reviews.
- Survey preparation and mock surveys.
- RAI and OASIS process.
- ADR documentation submission and appeals.
- Process reviews.
- Continuing education and training.
Advisory/ Expert Testimony
Our healthcare services extend to two specialty areas – avoiding anti-kickback and fraud and abuse issues by determining appropriate fair market value in transactions that include referrals, and in providing forensic accounting and litigation support in civil and criminal matters relating to various healthcare issues. These often include accusations of fraud and abuse, false claims and disputes between healthcare entities regarding value or properly handling various billing and collection-related services.
Understanding the unique intricacies of healthcare requires a highly specialized team of professionals beyond a traditional accounting. Marcum’s dedicated Healthcare Assurance team truly understands the details of today’s provider community and, on a regular basis, provides the following services:
- Financial statement audit, reviews and compilations.
- Agreed upon procedures.
- Pension/employee benefit audit.
- Internal audits and control for both financial and information technology.
- Industry and best practice benchmarking.
The provider community is made up of both for profit/not-for-profit operators with often time complex tax structures. Marcum LLP’s Healthcare tax team not only understands the uniqueness of the industry and regularly assists providers, owners, board and managers through challenging situations including:
- Corporate tax services/planning.
- State and local tax compliance.
- Business formation/entity selection.
- Compensation planning/structure.
- Cost segregation.
Five Year Nursing Home Statistical Analysis
From 2013 through 2017, the years of focus for this publication, the long-term care industry has seen a decline in overall census, been faced with shrinking reimbursement, and struggles to maintain a par level with the ever-increasing cost of labor and operation.