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Tag: healthcare

Healthcare Organizations: Ask These Questions Before You Pursue an M&A Transaction

Written by Matthew Barbieri and Michael Castle. Your guide to making sure your transaction decisions are what’s best for your business M&A remains a key growth strategy in 2022, with more than one in five healthcare CFOs (22%) planning to pursue M&A this year, according to the 2022 BDO Healthcare CFO Outlook Survey. With high valuations and uncertainty around future market trends, it’s important that healthcare organizations carefully consider if an M&A deal is the right...

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R&D Tax Credits for the Life Sciences Industry

Generate cash from your past and future investments in developing or improving products, formulas or devices, or advancing medical and pharmaceutical technology. In recent years, the Life Sciences industry has been under heavy pressure to drive innovation in an environment of escalating R&D costs, increasing scientific complexity and enhanced regulatory scrutiny. If your company has worked to develop new or improved pharmaceuticals or medical devices, formulas or technology,...

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R&D Tax Credits for the Healthcare Industry

Capitalizing on evolving patient care through past, present, and future innovation. R&D is likely to be a continued priority for the healthcare industry, as organizations in the space work to address the emerging needs of the aging population, respond to trends in telehealth and value-based care and fend off competition from new entrants, like Amazon, which has signaled that healthcare is a key priority for growth. If your organization has worked to develop a new or improved...

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Biden’s Announcement on Employer Vaccine Mandates

By Lisa Calick, Director, HR Advisory Employers have been grappling with whether to enforce vaccine mandates in their companies, however President Biden’s recent Executive Order may now take that decision out of their hands. Late last week, the President announced his multi-level strategy for combatting the continued spread of COVID-19 – a key piece of which includes sweeping vaccine mandates for many employers. The mandate for private employers affects those with 100...

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What You Need to Know About the HERO Act

By Lisa Calick, Director, HR Advisory Private employers with worksites in New York State will soon need to comply with the New York Health and Essential Rights Act (HERO Act), recently signed into law by Governor Cuomo.  This Act mandates all employers to adopt a written plan that meets minimum standards that are designed to combat the spread of infectious disease in the workplace. The New York State Department of Labor has published a model standard and model template...

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Guidance from the IRS on COBRA & ARPA

By Lisa Calick, Director, HR Advisory In an earlier blog, we highlighted the COBRA premium subsidy that was provided under the American Rescue Plan Act.  As expected, the IRS has now issued further guidance that provides additional clarification on the subsidy.  Notice 2021-31 has been released and addresses some of the many questions that have been outstanding since the passage of the new law.  There is an extensive list of questions and answers in the newly released...

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Employer Concerns in the Wake of the Coronavirus

by Lisa Calick The Coronavirus is on everyone’s mind, and while news channels continue to report on the speed in which the virus is spreading, fear and panic has started to set in.  Employers should take proactive steps to not only communicate to their employees, but to also develop contingency plans should an outbreak disrupt their normal business operations.  Your employees want to know that you care about their safety and have a plan in place, so if your business has not yet started...

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Advantages of Onboarding an Outside Accounting Firm for Your MSO or DSO

By Carolyn Hall, CPA, MBA Updated 7/29/2019. In my last blog post, we covered how a business process review is a great tool to determine what processes can be improved upon in your medical service organization (MSO) or dental service organization (DSO). One of the most common outcomes of a BPR is a company elects to onboard an outsourced accounting firm. With this post, let’s explore the value-added benefits of such a relationship. An outsourced accounting firm with experience in...

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If You’re Self-Employed, You May Qualify for Insurance Deductions

By Wiss Associate For myriad professionals, becoming an entrepreneur can be a dream come true. Fortunately, health insurance deductions can make maintaining that dream much easier. The Self-Employed Health Insurance Tax Deduction within the Affordable Care Act can assist in lowering your adjust gross income by your payment quantity in premiums on dental, medical, and qualified long-term care insurance for you and your loved ones. For self-employers unable to access a partner’s insurance...

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No Health Coverage? Be Prepared to Pay a Hefty Price

As of now, Obamacare’s individual mandate requests that you purchase health insurance. If you can afford the coverage and refuse to acquire it, a big fee could be headed your way. For the tax year of 2016, the Individual Shared Responsibility fine skyrocketed to 2.5 percent of an individual’s complete household adjusted gross income. However, for the new year and beyond, the amount will stay at 2.5 but the flat fee will be regulated for inflation. For each month you do not have coverage,...

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