Senate Votes to Avert a Cut in Medicare Payments to Doctors
Announcement from: Anne M. Dunne, RN-BC, MBA, MSCN, Director of Health Care Consulting
The Senate voted 8910 Saturday morning to avert a cut in Medicare payments to doctors for two months.
Click here for the full story: http://www.medpagetoday.com/Washington-Watch/Washington-Watch/30...
Posted in General, Healthcare Leave a comment
December 2011 Tax Law Changes – A Closer Look
By: Alice H. Varisano, CPA, Partner-In-Charge, Tax ServicesIn response to our email blast last week, we are providing you with a detailed breakdown to the December 2011 Tax Law Changes. In addition to the Fair Tax Code Reform, there are many other aspects to this bill.
Metropolitan Commut...
Posted in General, Tax Leave a comment
New York State Tax Law Update
Last week Governor Andrew M. Cuomo, Senate Majority Leader Dean Skelos, and Assembly Speaker Sheldon Silver announced they have reached a proposed three-way agreement to create jobs and cut taxes for middle class New Yorkers.
Among many new programs, tax credits and tax reforms in this agreement, be...
Posted in Tax Leave a comment
Eliminate Costly Mistakes
By: Robert Grote, CPA, Partner, Manufacturing & Distribution Practice Leader
Success in the manufacturing/distribution business starts with your order entry system. It’s an expensive proposition to say there’s no time to do things right the first time but always time to redo mistake...
Posted in Manufacturing & Distribution Leave a comment
Bonus Depreciation and Section 179 Deductions Extended Through December 31, 2011
By: John Pellitteri, Partner-in-Charge Health Care Services
and
Anne M. Dunne, Director of Health Care Consulting
Article preview: Until the end of 2011, businesses can write off up to $500,000 of new equipment expenditures in a single tax year as opposed to multiple years. This means if a medical p...
Posted in Healthcare, Tax Leave a comment
The IRS Is Well-Equipped to Examine Construction Firms
By: Geri Gregor, CPA, Partner-In-Charge Consulting and Construction Practices
No one wants to be audited by the IRS. The time and expense can affect your business’s bottom line — not to mention the trauma of having IRS agents rummaging through your books with a crowbar.
Knowing a...
Posted in Construction, General, Tax Leave a comment
Sony Event for MS Tonight (Thursday, December 1, 2011)
The Grand Opening of the new Sony Store at Roosevelt Field Mall is tonight, Thursday, December 1st(invitation attached). Please stop by anytime between 6pm and 8pm for a 10% discount and Sony will donate 5% of the night’s sales to the MS Long Island Chapter. Please feel free to extend the invi...
Posted in General Leave a comment
Important Webinar for Providers Who Provide Incident To/Shared Visits…Learn More About This Through This Informative Medicare Webinar
Attention Medicare Part B Providers:
A If you are a provider who supplies professional services in the office “incident to” or split/shared visits in the hospital setting, you should attend this Webinar. Small providers are also encouraged to attend as the topic and education format is appropria...
Posted in General Leave a comment
Merger Mania Series – Phase 1: Due Diligence
By: John Pellitteri, CPA, Partner-In-Charge Heath Care Services
It is November 2011. Summer is over, school has begun, and merger activity in the Healthcare industry is booming.
For well over two years, the Merger Trend in the Healthcare industry continues to expand. Looking back on the ou...
Posted in General Leave a comment
Cinch Overseas Deals
By: Robert J. Brewer, CPA, Partner, Architecture & Engineering Practice Leader
Going abroad on business translates into a quagmire of different languages, gestures and customs that can perplex even an experienced world traveler.
Take, for example, the wingtips or dress pumps you’re ...
Posted in Architecture & Engineering Leave a comment
Unlock Potential Funds
By: David M. Rottkamp, CPA, Partner, Not-for-Profit Practice LeaderFor any non-profit organization, the key to fundraising is getting your message out to as many people as possible.Of course, there’s advertising and taking out the usual listings in the yellow pages and directories of not-f...
Posted in Not-For-Profit Leave a comment
Deadline for 5010 Compliance Extended to March 31, 2012
The Centers for Medicare & Medicaid Services’ Office of E-Health Standards and Services (OESS) announced today that it will be extending it’s 5010 Compliance deadline to March 31, 2012, with respect to any HIPAA covered entity that is not in compliance with the ASC X12 Version 5010 (Vers...
Posted in Healthcare Leave a comment
Offshore Relationships: Improving Quality Assurance
In the ever-expanding global economy, nothing about suppliers or distributors can betaken for granted. As illustrated by the numerous high-profile recalls that have occurred, manufacturers outsourcing to foreign countries must maintain quality control in their supply chains.
According to a re...
Posted in Manufacturing & Distribution Leave a comment
October 2013 Deadline for ICD-10 Conversion
The issue of ICD-10 conversion is extremely important and will affect all providers of healthcare services. Make sure you read this important article on the October 2013 deadline for ICD-10 conversion. This reports suggests that less than 10% of providers have reached the “readiness mark” ...
Posted in Healthcare 1 Comment
Senate Votes to Repel 3% Withholding Law
On November 10th, the Senate voted 95-0 to repel the 3% withholding law that was to go into place in January 2012. This is a huge win for the contractors and other effected parties. If this passed many contractors would have had 3% withholding on their revenues and that would have greatly affect...
Posted in General Leave a comment
Grassi and Co.’s Managing Partner Lou Grassi Elected Vice Chair of Moore Stephens North America. Click here for the full story.
...
Posted in Awards & Recognitions, General Leave a comment
Take Advantage of Extended Tax Deduction
By: Anne M. Dunne, RN-BC, MBA, MSCN, Director of Healthcare Consulting
Until the end of 2011, businesses can write off up to $500,000 of new equipment expenditures in a single tax year as opposed to multiple years. This means if a medical practice purchases or leases qualifying equipment, such a...
Posted in General, Healthcare, Tax Leave a comment
Grassi & Co. Welcomes New Audit Partner Phillip Laycock, CPA
Grassi & Co. is proud to announce that Phillip Laycock, CPA, formerly of Blackman Kallick, has joined the firm as Audit Partner. Phil brings with him extensive audit, tax, and consulting experience in the Manufacturing & Distribution practice area. Phil is a member of the AICPA and recei...
Posted in General Leave a comment
Audit Principal Carl Oliveri Now a Certified Fraud Examiner
Grassi & Co. is very proud to announce that Carl Oliveri, CPA, MBA, has recently completed his Certified Fraud Examiner (CFE) requirements through the Association of Certified Fraud Examiners. Oliveri joins Managing Partner Lou Grassi, CPA, and Consulting Manager Reena Panchal in this designatio...
Posted in Awards & Recognitions, General Leave a comment
Imaging Cuts in 2012 Medicare Final Rule Unfounded and Potentially Dangerous
This issue is extremely important and affects radiologists and imaging facilities who are performing Ultrasound, CT and MRI services in the same session. Make sure you read this important article on how 2012 CMS reimbursement will affect your practice. The final CMS rule, published several days ago,...
Posted in Healthcare Leave a comment
What Is Cloud Computing?
By: Paul Mink, Technology Consultant
I receive a continual barrage of inquiries about “The Cloud”. Where and what is it? Who or what commands its existence? Is it the holy grail of computing?
For common reference, the “Cloud” is analogous to the continental electri...
Posted in General, Manufacturing & Distribution, Technology Leave a comment
Best Practices For General Contractors
By: Greg Pulitano, Cpa, Director Of Consulting Services
In order to ensure that actual results are in line with expected profits, projects must be managed effectively. General contractors can simply improve profits by controlling the following operational areas:Estimating, bidding and subc...
Posted in Construction, General Leave a comment
Change Made to the Billing Provider Address for 5010
From National Government Services, Inc., Corporate Communications:
A change has been made to the Billing Provider Address for 5010. The Billing Provider Address (2010AA loop) will require a physical location address to be reported. P.O. Box and lockbox addresses cannot be reported as a Bill...
Posted in Healthcare Leave a comment
A Statement from U.S Department of Health and Human Services Secretary Kathleen Sebelius
On the need to fix the Sustainable Growth Rate issue upon release of the final Medicare physician fee schedule ruleAmerica’s physicians are the backbone of our health care system. Physicians are there for us throughout our lives, helping us improve our health and fight off disease. Unfortuna...
Posted in Healthcare Leave a comment
Get ADI Accredited Now – Time is Running Out
As a reminder, beginning Sunday, January 1, 2012, suppliers who furnish the technical component of advanced diagnostic imaging (ADI) must be accredited in order to bill Medicare for these services. ADI procedures include MRI, CT, nuclear medicine imaging, and positron emission tomography. X-ray, ul...
Posted in Healthcare Leave a comment
Update – Important Information on Registration for the EHR Incentive Programs
This is an updated version of the Electronic Health Record (EHR) registration-related Listserv message sent by Centers for Medicare & Medicaid Services (CMS) on Thursday, October 13, 2011. This version of the message provides updated language to help providers understand the difference in regist...
Posted in Healthcare Leave a comment
Bonus Depreciation and Section 179 Deductions Extend Through December 31, 2011
By Anne M. Dunne, RN-BC, MBA, MSCN, Director of Healthcare Consulting and John V. Pellitteri, CPA, Partner, Healthcare Practice Leader
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment purchased, financed, or leased during the tax ye...
Posted in Healthcare Leave a comment
Check out Anne Dunne’s published article: “Medical Office Efficiencies”
Grassi & Co. Director of Healthcare Consulting Anne M. Dunne, RN-BC, MBA, MSCN, was recently published in Physician Money Digest for her article entitled “Medical Office Efficiencies”.
Check out the article here: http://physiciansmoneydigest.com/your-money/Medical-Office-Effi...
Posted in Healthcare Leave a comment
Affordable Care Act Helps Keep Medicare Affordable
From the CMS Press Office:
Affordable Care Act Helps Keep Medicare Affordable
Medicare Part B premiums for 2012 lower than projected
The U.S. Department of Health and Human Services (HHS) announced that Medicare Part B premiums in 2012 will be lower than previously projected and the Part B de...
Posted in Healthcare Leave a comment
Grassi & Co. Helps “Derail” Hunger at Canstruction 2011
Grassi & Co., in partnership with construction consultants Lovett Silverman, has assembled a team to participate in this year’s Canstruction event which runs the last week of October into the first week in November. Canstruction is a charity event where teams of professions in the design and...
Posted in Events Leave a comment
OIG Work Plan Takes a Close at Incident to Billing Services
By: Anne M. Dunne, Director of Healthcare Consulting
The Office of Inspector General (OIG) released its Work Plan for 2012 recently, with heightened scrutiny on incident-to billing by nonphysician practitioners among its new and recurring goals outlined in the report.
In its 2012 Work Plan, ...
Posted in Consulting, General, Healthcare Leave a comment
Medicare issues new Advanced Beneficiary Notices (ABN) to be used starting January 1, 2012
From the Centers for Medicaid and Medicare Services:
The revised Advanced Beneficiary Notice of Noncoverage (ABN), Form CMS-R-131, is issued by providers (including independent laboratories), physicians, practitioners, and suppliers in situations where Medicare payment is expected to be denied. The ...
Posted in Healthcare Leave a comment
Problem with September 2011 Influenza Vaccine Pricing
Description of the Problem
For dates of service in September 2011, influenza vaccinations are being priced using the 2010-2011 influenza season rates.
What This Means to You
Providers are receiving incorrect payment for influenza vaccination claims. If you identify influenza vaccinations wher...
Posted in Healthcare Leave a comment
Pay for responding to telephone calls and coordination of care? Read the recommendations from the AMA committee.
The AMA committee that recommends changes in the Medicare pay scale is asking the Centers for Medicare and Medicaid Services to reimburse doctors for four types of activities that involve coordinating care for chronically ill patients.
Click here for the full story: http://www.medpagetoday.com/Prac...
Posted in General, Healthcare Leave a comment
If you bill incident to services, read this important piece
Incident to Billing Guidelines scrutinized under 2012 OIG Work Plan
Physicians: Incident-To Services (New)
We will review physician billing for “incident-to” services to determine whether payment for such services had a higher error rate than that for non-incident-to services. We will also...
Posted in Healthcare Leave a comment
Version 5010 Level II Compliance: Do You Know What to Do?
The Version 5010 compliance deadline is less than 90 days away.
All entities covered under the Health Insurance Portability and Accountability Act (HIPAA) must be ready to implement the Version 5010 transaction standards by December 31, 2011. In order to meet this compliance deadline, you need to co...
Posted in General Leave a comment
Grassi & Co. Tax Principal David Shuster Named A Long Island Business News 2011 Leadership In Law Honoree
Grassi & Co. is extremely proud to announce that David Shuster, JD, LLM, Tax Principal, has been inducted into LIBN’s Leadership In Law Class of 2011 for the In-house Counsel category. David’s extensive law background has earned him this recognition, which honors attorneys not associated wit...
Posted in Awards & Recognitions, General Leave a comment
IRS Helps Keep Proper Practices In Check
By: David Rottkamp, CPA, Partner, Not-for-Profit Practice Leader
Tax law provisions and IRS regulations may have a significant impact on improper transactions between top officials and a tax-exempt organization. Although this is not a recent issue, it is still as important as when it was first i...
Posted in General, Not-For-Profit Leave a comment
Grassi & Co. Named as INSIDE Public Accounting All Star!
Grassi & Co. is extremely excited to have been named as one of the Top Five Fastest-Growing firms, by revenue ($20-30 million) in the nation, by INSIDE Public Accounting (IPA) – a ranking which qualifies us as an All Star. IPA presents the annual recognition of the IPA All-Star firms in t...
Posted in Awards & Recognitions, General Leave a comment
Preventing the Flu: General Good Health Tips To Help Stop the Spread of Germs
From the Center for Disease Control: Influenza (Flu): The single best way to prevent seasonal influenza is to get vaccinated each year. Good health practices like washing your hands and covering your cough will also help stop the spread of germs and may prevent respiratory illness like the sea...
Posted in General, Healthcare Leave a comment
House Plans October Vote to Repeal 3 Percent Withholding – Take Action Today
From an ACG America Issue Alert:
The U.S. House of Representatives is expected to begin consideration of a bill to repeal the 3 percent withholding mandate next week. The bill will first be considered by theHouse Waysand Means Committee, followed by a vote on the House floor as early as the week of ...
Posted in General, Tax Leave a comment
Transition Checklist For The 5010 Claims Transaction
By: Anne M. Dunne, Director of Healthcare Consulting
Suggested Compliance deadlines:
Conversion to the 5010 electronic claims transaction standard: January 1, 2012
Conversion to ICD-10 diagnosis/procedure classification standard: October 1, 2013
What are the implications for my medical practi...
Posted in General, Healthcare Leave a comment
Important Reminder Regarding the Transition to Version 5010 for Electronic Claims
An important reminder from the National Government Services, Inc., Corporate Communications Department:
Only 88 Days Remaining to Transition to Version 5010 for Electronic Claims.
Are you:An individual physician?
A physician group practice?
A hospital?
A home health facility?
A hospice fa...
Posted in Healthcare Leave a comment
3% Withholding on Government Contracts – Politics on Steroids
By Richard E. Gavin, CPA, CCIFP with contributions from Steve Mannhaupt, CPA and Alice Varisano, CPA When baseball players were unknowingly on steroids (at least unknowingly to everyone but themselves), they were doing illogical things. Baseball records that had stood for years were being shat...
Posted in General, Tax Leave a comment
Director of Healthcare Anne Dunne to Present at the New York County Medical Society Event “Are You Growing Your Practice?”
When: Wednesday, November 2, 2011
5:30 p.m. registration
6:00 – 8:00 p.m. dinner & seminar
Where: O’Casey’s Restaurant
22 East 41st Street (between Madison & Fifth Avenues), NYC
(212) 685-6807
www.ocaseysnyc.com
You will learn:How to understand and use financial benchmarks to ...
Posted in Events, Healthcare Leave a comment
Voting Has Started!
Best of Long Island 2012 voting has begun! Help Grassi and Co. win for Best Accounting Firm by voting for us once a day until December 15th, 2011. Grassi & Co. Partner and Not-for-Profit Practice Leader David Rottkamp was nominated for Best Accountant, so be sure to vote for him too!
CLICK H...
Posted in Awards & Recognitions, General, Not-For-Profit Leave a comment
Vote for Grassi & Co. on Long Island Press Best of Long Island 2012!
Grassi & Co. is a finalist for Long Island Press Best of Long Island 2012! Help us win Best Accounting Firm!
During the voting period last year, more than 748,000 people voted, and this year Long Island Press is anticipating more than ONE MILLION people to vote during the same time peri...
Posted in Awards & Recognitions, Events, General Leave a comment
Medicare EHR Incentive Program: Monday, October 3, 2011 is the Last Day for Eligible Professionals to Begin 90-Day Reporting Period for 2011
CMS Learn Resource: 201109-60
The last day that eligible professionals (EPs) can begin their 90-day reporting period in calendar year (CY) 2011 for the Medicare Electronic Health Record (EHR) Incentive Program is Monday, October 3, 2011. For EPs, this means they must begin their consecutive 90-day r...
Posted in Healthcare Leave a comment
Employee Expense Reports
By: Michele Farrell, CPA, CCIFP
An employee expense report is a tool for employees to use when seeking reimbursement for personal expenses used for work. It is the employee’s responsibility to keep track of all out of pocket expenses and submit this report to their human resources department. ...
Posted in Consulting, General, Manufacturing & Distribution Leave a comment
