The Affordable Care Act (ACA) came with some new reporting requirements for employers with over 50 employees. These new forms took effect in the 2015 tax year. This has left the HR departments in many medium and large businesses scrambling to learn the new requirements and complete the forms. Form 1095-C must be sent to all full-time employees eligible for …
ERP Changes in Hospital Financial Management
While ERPs are often seen as a fancy software system for managing different aspects of your operations, sometimes events happen in the industry which bear in mind the need to remember that an ERP is an enterprise resource planning system. For hospital financial management teams, the industry-wide ERP changes motivated by the 2010 ACA are creating several new pain points creating innovation …
The Affordable Care Act and Hospital Financial Management
The Affordable Care Act has had a tremendous effect on hospital financial management. For instance, the Act has required an increased amount of evolution in order to meet the expanding needs of consumers. Some of these changes are related to reimbursement, expenditures, and cost of care. Each of these are discussed below: Reimbursement Reimbursement is important to hospital financial management. Since …
