On Tuesday, July 3, 2013, the U.S. Department of the Treasury announced that the mandate requiring certain employers to provide health coverage to their employees or pay fines has been delayed until 2015. The Affordable Care Act (ACA), signed into law by President Barack Obama on March 23, 2010, mandated various responsibilities of employers.
Medicare released a proposed rule in the Federal Register , “Medicare Program; Part B Inpatient Billing in Hospitals,” in March 2013. That proposed rule, in combination with the ruling for Part A to B denial rebilling—which was effective immediately on publication—is intended to get a handle on a huge area of heartburn for hospitals.
On April 5, 2013, the IRS issued proposed regulations for compliance with the community health needs assessment (CHNA) requirements under Internal Revenue Code Section 501(r)(3) for hospitals exempt from taxation under Section 501(c)(3).
As a result of the Budget Control Act of 2011 , mandatory federal spending cuts, commonly known as “sequestration,” are required. This law is expected to generate spending cuts of $109 billion in the first year and $1.2 trillion through 2021. Sequestration was originally expected to begin January 2, 2013, but was postponed for two months through the American Taxpayer Relief Act of 2012 , passed on December 31, 2012.
On March 1, 2013, the Centers for Medicare & Medicaid Services (CMS) released Change Request 8214, which outlines rules related to the extension of the Low Volume Adjustment (LVA) and Medicare Dependent Hospital (MDH) regulations, as authorized by the American Taxpayer Relief Act of 2012 . The Federal Register notification related to these extensions, CMS 1588-N, was released on March 4, 2013, and officially published March 7, 2013. Hospitals will need to move quickly to take full advantage of the LVA extension, and they may be surprised by some of the requirements of the MDH extension
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Although the hospital industry has weathered difficult conditions in the past, widespread challenges continue to push change within the sector. Widely reported regulatory changes and the need to obtain operational and financial scale and scope in the health care industry have combined with other auxiliary issues to compound the need for further change within the sector
Regulated transactions with physicians are now common for hospitals. With the significant number of physician practice acquisitions and other affiliations, the number of regulated transactions with physicians has gone up exponentially
U.S. health care organizations have recently—or are currently—assessing their information technology operations and software systems for the effects of compliance with electronic health record (EHR) requirements and the pending implementation of ICD-10.
The Supreme Court upheld President Obama’s health care overhaul, holding that it is constitutional in substantially all respects. The ruling further confirms that major changes are coming as a result of the Patient Protection and Affordable Care Act and the Health Care and Education Tax Credits Reconciliation Act of 2010 . The acts have tax and penalty implications for both individuals and businesses.