Category: Medical Practice Management

New round of HHS funding for providers who missed the first round of payments

The U.S. Department of Health and Human Services (HHS) is launching an enhanced Provider Relief Fund Payment Portal that will allow eligible Medicaid and CHIP providers to report their annual patient revenue, which will be used as a factor in...

Healthcare providers must act by June 3 to receive additional relief fund general distribution payment

Today, the U.S. Department of Health and Human Services (HHS) is reminding eligible providers that they have until June 3, 2020, to accept the Terms and Conditions and submit their revenue information to support receiving an additional payment from the...

Medical Practice Owners and Healthcare Providers Eligible for CARES Act Relief Through HHS

Medical practice owners and healthcare providers are eligible for some of the $50 billion CARES Act relief funding through the Department of Health and Human Services (HHS).  All relief payments are being made according to tax identification number (TIN). For...

CARES Act Provider Relief Fund brings help to physicians and other healthcare providers during COVID-19 pandemic

As part of the $2 trillion CARES Act, $30 billion is being distributed immediately to eligible healthcare providers throughout the American healthcare system. These are payments, not loans, to healthcare providers, and will not need to be repaid. Who is...

CMS Approves Accelerated/Advance Payment Program for Medicare Providers

The Centers for Medicare & Medicaid Services (CMS) has delivered near $34 billion in the past week to the healthcare providers as part of an expansion of the Accelerated and Advance Payment Program, to ensure providers and suppliers have the...

Why you should think twice before relying on public service loan forgiveness

ShindelRock has recently had several clients in their residencies contemplate working for a certain hospital because of the possibility of student debt cancellation under the public service loan forgiveness program. As a word of caution, a recent CNBC article highlighted...

Nurses working independently must apply for LLC, not PLLC

Nurses working independently in the state if Michigan must apply for an LLC, not a PLLC. Here’s why. Under the Public Health Code, a nurse must work under the delegation and general supervision of a physician. Therefore, the service being...

Understanding and minimizing the chance of employee fraud

Do you ever wonder if any of your employees are capable of committing fraud? According to Donald Cressey, PhD, trusted persons can become trust violators if three factors are present. These factors are referred to as the “Fraud Triangle”. A...

Recent tax case related to income from surgical center

In Stephen P. Hardy and Angela M. Hardy v. Commissioner, the U.S. Tax Court found that Dr. Stephen P. Hardy, a plastic surgeon who owned a minority interest in a surgical center, was allowed to treat his income from the surgical...

SR Client Questions: Employee stock transfers and “S” Corporations

Question:  An “S” corporation is considering transferring stock to an employee/physician. What are the tax and related economic issues? Answer: Tax Law – Code Section 83: The controlling IRS code section determining the tax consequences for both the recipient/employee and the...