HealthcareLegislative Uncertainty, Industry Consolidation, and Payment Methodology Changes
BOWMAN KNOWS HEALTHCARE
Unlike generalist CPA firms, Bowman & Company LLP puts a premium on industry knowledge and experience. We strongly believe that specialization and a focus on unique contemporary issues makes the difference between a good CPA and a great one. Our Healthcare niche team commits themselves to staying on top of industry trends, regulations, and opportunities so our clients can focus on their missions, secure in the knowledge that they are in good hands.
Recent and upcoming legislation continues to create waves throughout the entire industry. Significant structural changes to the market, an influx of new patients, and an ever-changing set of regulations can make it difficult for providers to spend their time and energy focusing on treating their patients. In addition, increased regulatory scrutiny has created an even greater need for fastidious compliance and reporting.
Many providers are finding advantage in merging or otherwise aligning with others in the industry. This effect can be seen throughout all players in the healthcare industry, with hospitals and health systems teaming up with physicians, insurers, and other providers to improve financial stability, expand their geography, or gain access to expertise and resources.
PAYMENT METHODOLOGY CHANGES
Recent regulatory changes have also significantly altered the means by which providers get paid. Between new payment methodology changes, federal pay cuts and adjustments, and the uncertainty in the insurance exchanges, it can be difficult for providers to catch up and financially position themselves for the turbulent healthcare economy.
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