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 …
IRS Issues New Guidelines for Qualified Management Contracts for Facilities Financed with Tax Exempt Bonds
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 …
Renewed Perils from “Zeroing Out” a Corporation at Year-End
By Ralph Levy, Jr. and Brian Fleetham Physicians who are involved in the financial management of their practices are all too familiar with the year-end scramble to “zero out” the corporation’s profits. Under this technique, a physician practice that is structured as a “C” corporation will, after paying all of its year-end expenses, distribute its …
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New IRS Audit Rules: Is Your Healthcare LLC Ready?
By Peter Domas and Ralph Levy The Bipartisan Budget Act of 2015 (the “BBA”), which was signed into law in November 2015, contains significant changes to the way the IRS will audit partnerships beginning in 2018. These changes will also have far ranging effects to the way members of many limited liability companies must prepare …
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Navigating Michigan’s Corporate Practice of Medicine Doctrine in the Accountable Care Organization Environment
By Rose Willis Accountable Care Organizations (ACOs) are organizations that have accepted responsibility for the overall quality, cost and care of a defined group of beneficiaries in compliance with the rules established by the federal government. Because ACOs are the product of a concept established by the federal government, some might overlook the application of …
Physician Compliance Programs: What you need to know about the Final 60-Day Rule
By Rose Willis The 60-Day Rule was enacted as part of the Affordable Care Act on March 23, 2010 and generally requires a person who has received an overpayment to report and return the overpayment by the later of (i) the date which is 60 days after the date on which the overpayment was identified; …
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Before Your Nonprofit Health System Considers a Merger – Three Important Board Preps
By Jay Hughes The Governing Board of every nonprofit health system considering a merger, change in control, sale or significant affiliation has a key role in the process and needs to be engaged throughout the planning, research, evaluation, negotiation, finalization and implementation of any transaction. Good planning at the beginning of this process will better …
Getting to Know Dickinson Wright Healthcare Attorney Mark Wilson
As the healthcare world evolves, physicians are looking at various delivery system alternatives to ensure the longevity of their practices. Some will join a health system while others look for alternatives. One choice is a new trend in the healthcare field termed “Supergroups”. “Supergroups” are business entities made up of 30 to 200+ physicians and …
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IRS Issues Transition Relief on the One-Year Delay in ACA’s Information Reporting and Employer Shared Responsibility Rules
By Jordan Schreier On July 9, 2013, the IRS issued Notice 2013-45 which provides additional information regarding the delay in the information reporting and employer shared responsibility provisions of the ACA announced earlier in July. Notice 2013-45 does not provide much in the way of substantive detail other than to confirm the delay in the …
IRS Concludes EHR Incentive Payments are Income to Recipient and Reportable to IRS
By Ralph Levy, Jr. The Internal Revenue Service recently concluded that recipients of incentive payments from CMS to utilize electronic health records must include the amounts received in gross income and that CMS must report these payments to the IRS. In addition, the IRS guidance (issued in the form of a Chief Counsel Advice) gave …