Legal and practical healthcare information.
Over the past decade, the Healthcare Industry has been accustom to being center stage in political debates, but while medical providers and facilities did not have a prominent role in the latest political drama, the far reaching effects of the Tax Cuts and Jobs Act of 2017 (the “Act”), will impact almost everyone delivering healthcare …
Continue reading “2017 Tax Reform and Its Effects on Healthcare”
In 2016 alone, 21 hospitals were closed across the United States because of unsustainable financial performance1, and the trend has continued with 7 additional hospitals and 18 other hospital departments closing in just the first half of 20172. Financial challenges facing many entities in the health care industry are not limited to hospitals, or even …
Continue reading “Blessings in Disguise: Hidden Opportunities in Health Care Bankruptcies”
By: Billee Lightvoet Ward, Esq. Of Counsel, Grand Rapids Office Phone: 616.336.1008 bward@dickinsonwright.com In recent years, the world of human subjects research has expanded not only with regard to the number of clinical research trials being conducted and the array of drugs and devices being tested, but also with respect to the technology employed to …
Continue reading “Keeping Pace in Clinical Research: The Common Rule Picks up Speed”
By: Ralph Levy Of Counsel, Nashville Office Phone: 615.620.1733 rlevy@dickinsonwright.com Over the past few years, hospitals, health systems and practice management companies have increased their efforts to acquire physician practices. Moreover, physician groups are increasingly interested in selling their practices to these interested purchasers. The primary reasons for this trend are varied but in general …
With the changes in the healthcare reimbursement and regulatory environment, it is all but certain we will see an increase in the number of distressed healthcare entities over the next few years. Whether your organization is doing well, or underperforming, there are significant opportunities in this uncertain time. The team at Dickinson Wright advises healthcare …
By: Cyndi Moore The American Health Care Act (“AHCA”), passed by the House of Representatives on May 4, 2017, repeals many of the taxes added by the Affordable Care Act (“ACA”) and makes changes to other tax rules. Some of the notable changes proposed to be made to the Internal Revenue Code are: 1. …
Continue reading “Key Tax Changes in the American Health Care Act”
By: Ralph Levy Of Counsel, Nashville Two recent Tax Court cases raise caution flags as to the deductibility of shareholder compensation by medical, dental and other professional practice groups organized as professional corporations (PCs) or professional associations (PAs) that are taxed as “C” corporations for federal tax purposes. In each case, on audit, the …
Continue reading “Caution as to Compensation Paid by Professional Corporations”
Two recent Tax Court cases raise caution flags as to the deductibility of shareholder compensation by medical, dental and other professional practice groups organized as professional corporations (PCs) or professional associations (PAs) that are taxed as “C” corporations for federal tax purposes. In each case, on audit, the IRS sought to disallow deductions for a …
Continue reading “Caution As To Compensation Paid By Professional Corporations”
by Ralph Levy, Of Counsel Nashville Office 615.620.1733 rlevy@dickinsonwright.com Group medical and dental practices often look to expand their practices by hiring additional professionals, typically those with less experience than the equity owners of the practice group. Invariably, both the group practice and the potential new hire will insist on an employment agreement …
By: Craig Hammond Health care providers with facilities financed with tax exempt bonds need to be aware of recent changes to the IRS rules for qualified management contracts. On August 22, 2016, the IRS issued Rev. Proc. 2016-44 which replaced the safe harbors for management contracts previously set forth in Rev. Proc. 97-13 with new …