The health care environment is growing and experiencing rapid change. Both providers and insurers are highly regulated by the government, and providers receive a significant amount of their revenue from government sources. Health care providers have more than one customer, the patient and the payment source, which increases the complexity in gaining market share. This session will help the participant gain a basic understanding of the basic financial statements of health care entities. While we will focus on not-for-profit hospital system financial statements, we will also discuss how investor-owned (for-profit) hospital statements differ from not-for-profit. We will also touch on some of the more significant differences in other types of health care entities. At the conclusion of this session you will be able to:
- Identify and describe the basic financial statements for a health care entity.
- Distinguish the upcoming changes in accounting literature for not-for-profits.
- Describe the disclosure requirements unique to health care entities.
- Identify and describe the financial statement and disclosure differences between
not-for-profit entities and investor-owned entities.
- Identify the unique requirements of health care entities other than hospitals.
Instructor bioMarci Thomas is an author and presenter on various not-for-profit, healthcare and governmental topics to CPA firms and state societies of CPAs around the country. She also writes and teaches courses in auditing, governance and strategy. Marci is a clinical assistant professor in the School of Public Health at the University of North Carolina at Chapel Hill where she teaches Healthcare Strategy, Finance, Governance, Internal Control and Risk Assessment and is an adjunct professor at Emory University in the Goizueta Business School where she teaches healthcare strategy. Marci works with numerous accounting firms, performing quality control and efficiency reviews and with nonprofit boards on strategic planning, internal control and governance issues. From 1986 through 1999 and again in 2005, she worked for Deloitte, primarily in the accounting and advisory services department. Most recently, she was Director in Deloitte Consulting in strategy and operations practice in the Atlanta office. Marci specializes in working with not-for-profit organizations, including those in the healthcare and higher education arenas. She is a nationally recognized author and speaker on topics as well as on the OMB’s Uniform Guidance. In addition to writing numerous training manuals she is co-editor and author of a book published by Jossey Bass in 2004, Essentials of Physician Practice Management. Her book, Best of Boards: Sound Governance and Leadership for Nonprofit Organizations, was published by the AICPA in June 2011 and is on its second printing. Her newest book on Health Care Financial Management was published by Wiley Publishing in January 2014. Marci also serves on the Professional Development Advisory Council and the Not-for-Profit Committees for the North Carolina Association of CPAs. She is on the fundraising committee for Georgians for a Healthy Future and for several Basset Hound Rescue Groups. She is on several committees at her church. Marci received her Bachelor in Business Administration with a concentration in accounting from the Georgia State University and her Masters in Health Administration at the University of North Carolina at Chapel Hill. She is a frequent speaker at local, regional and national conferences.
Becker Professional Education Sponsor I.D. Numbers NASBA: 107294, New York: 002087, New Jersey: 20CE00226700, Texas: 009580, Ohio: CPE.186, Illinois 158.002405, Pennsylvania: PX177823