Courtney McFarland
Navigating New York Medicaid Reimbursement: A Strategic Approach for FQHCs
Like many Federally Qualified Health Centers (FQHCs) across the country, New York’s centers are grappling with increasingly constrained budgets and rising staffing costs, making Medicaid reimbursements more critical than ever to sustaining their services. New York’s Medicaid system offers a key opportunity, providing FQHCs with the ability to apply for supplemental payments that cover costs […]
New UDS+ Reporting Requirements Announced for Health Centers
Health centers have long been required to submit a Uniform Data System (UDS) report to the Health Resources and Services Administration (HRSA) by February 15 each year. However, AAFCPAs would like to ensure FQHC clients are aware HRSA introduced a new requirement, the UDS+ filing due by April 30, 2025, for calendar year 2024 data. […]
IRS Launches Second Employee Retention Credit Voluntary Disclosure Program
AAFCPAs would like to make clients aware that the Internal Revenue Service introduced its second Employee Retention Credit (ERC) Voluntary Disclosure Program, which runs until November 22, 2024. This initiative allows businesses to correct improper ERC payments at a 15 percent discount and avoid future audits, penalties, and interest. Under this program, businesses will need […]
Expert Tip from AAFCPAs – 340B Report Guest Blog
340b Report (August 15, 2024) – Monitoring and maintaining an active patient listing (APL) for all patients whose prescriptions qualify as eligible under the 340B program is imperative. This APL should be updated daily and maintained through the electronic medical record system. The entity’s 340B policy should specify the time period during which a patient […]
IRS Shares Five New Warning Signs of Incorrect ERC Claims
The IRS has released five new warning signs to help businesses prepare for upcoming actions against improper Employee Retention Credit (ERC) claims, urging businesses to act proactively to resolve those to avoid penalties, interest, and audit. The agency advises that businesses consult with trusted tax professionals to review and correct any claims initially filed by […]
Urgent: 2023 Cost Report Submission Deadline for Massachusetts Community Health Centers
AAFCPAs would like to make Massachusetts Community Health Centers aware that the Center for Health Information and Analysis (CHIA) has announced it is now collecting cost reports for the fiscal year ending in 2023. Initial communication and instructions indicate 2023 cost reports are due on August 26, 2024, regardless of fiscal year end date. The […]
IRS Provides Update on Employee Retention Credit (ERC)
AAFCPAs would like to make clients aware that, on June 20, 2024, the IRS announced its plans to deny tens of thousands of improper, high-risk Employee Retention Credit (ERC) claims. Concurrently, the agency is processing a new round of lower-risk claims using insight gleaned from its initial review to expedite payments to taxpayers who filed […]
Response Divided on New 340B Legislation
AAFCPAs would like to make clients aware that legislation designed to overhaul the 340B program was recently introduced. This legislation, previously coined the 340B Affording Care for Communities and Ensuring a Strong Safety-Net Act (340B ACCESS Act), seeks to establish new transparency and oversight requirements and capture policy principles agreed upon in the Alliance to […]
Are You Prepared for an Office of Pharmacy Affairs (OPA) Audit?
340B Report (May 16, 2024) – All entities who participate in the 340B program are subject to an Office of Pharmacy Affairs (OPA) audit regardless of entity type, size or volume of transactions. For the last five years, HRSA’s OPA has been completing approximately 200 audits a year and, as of May, 2024, 19 audits […]