Stakeholders Welcome and Also Dispute Various Changes On July 13, 2023, the Centers for Medicare & Medicaid Services (CMS) released its proposed Medicare Physician Fee Schedule (MPFS) for calendar year (CY) 2024. In addition to the agency’s suggested cut to physician payments, the proposed rule announced changes in policies for the advancement of health equity, as well as the expansion of access to critical behavioral health and oral health services. This article discusses the proposed changes. On July 13, 2023, the Centers for Medicare & Medicaid Services (CMS) released its proposed Medicare Physician Fee Schedule (MPFS) for calendar year (CY)…
-
-
4 Reasons Why You Don’t Have the Practice You Want (Yet) If you have the practice you want, congratulations! Stop reading now and use this time to do something else. But if there is a gap between the practice you have and the one you want, why does it exist? There are four possible reasons. Rod Burkert names those four reasons and what you can do to bridge the gap. If you have the practice you want, congratulations! Stop reading now and use this time to do something else. But if there is a gap between the practice you have…
-
The Aftermath of the 2022 AHA v. Azar SCOTUS Decision On July 13, 2023, the Centers for Medicare & Medicaid Services (CMS) released the proposed rule for the Outpatient Prospective Payment System (OPPS) and Ambulatory Surgical Centers (ASCs) for calendar year (CY) 2024. The agency proposes an increase in payments to all outpatient providers, introduces a new program, and announces their solution to repay 340B hospitals after their loss in the AHA v. Azar (2022) U.S. Supreme Court decision. On July 13, 2023, the Centers for Medicare & Medicaid Services (CMS) released the proposed rule for the Outpatient Prospective Payment…
-
Ethical and Practical Implications Too many appraisers omit the contingent BIGL in their appraisals. It certainly is easier to yield to the pressure of estate attorneys, CPAs, and the IRS on this point, but in light of the evidence for inclusion, is this the ethical path? The author discusses the merits and ethics of including the BIGL. Too many appraisers omit the contingent built-in capital gain tax liability (BIGL) in their appraisals. It certainly is easier to yield to the pressure of estate attorneys, CPAs, and the IRS on this point, but in light of the evidence for inclusion, is…
-
Normalization Adjustment Steps and Practice Pointers Reasonable compensation is among the most common of all normalizing adjustments in valuations of closely held businesses. The dollar amounts involved can be significant, the issues can be complex, and the valuator’s conclusions can be controversial. In preparing to make these adjustments, there are a series of steps that are normally followed. Among the steps are gathering relevant facts and making appropriate assumptions. Other steps include identifying the commonly accepted approaches or methodologies and locating reliable sources of benchmarking data. Then, the more complex steps may be forming defensible conclusions and explaining them in…
-
ChatGPT for Accountants: The Accountant’s Guide to AI and ChatGPT In this article, the authors review ChatGPT for Accountants: The Accountant’s Guide to AI and ChatGPT. They discuss thought-provoking exploration of the relationship between artificial intelligence (AI)—primarily ChatGPT—and the accounting, auditing, and tax professions, and offer their views on the benefits and perils of integrating AI into the firm. ChatGPT for Accountants: The Accountant’s Guide to AI and ChatGPT offers a thought-provoking exploration of the relationship between artificial intelligence (AI)—primarily ChatGPT—and the accounting, auditing, and tax professions. Through an examination of the potential applications, challenges, and evolving nature of the…