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Group 3 GNP Presentation
Transcript of Group 3 GNP Presentation
*Is the largest piece of healthcare legislation since the 1960’s
-Affects Everyone in Society
~Individuals and Companies
-Reforms Nonprofit Healthcare Industry
~Healthcare Industry affected by all changes *Millions of more Americans are now Insured
*New Requirements for Not-for-Profit Care
*New Financial Reporting Requirements 2010:
*March, 23: The Affordable Care Act Becomes Law
*Lifetime limits on insurance coverage
*Bringing down health care premiums *Data collection to reduce health care disparities
*Uniform coverage summaries for consumers
*Reduced Medicare payments for hospital readmissions
*Fraud and abuse prevention of Medicare 2013:
*Income threshold for itemized deductions
*Medical device excise tax
*Individuals MUST obtain health insurance
*Pre-existing condition exclusion is eliminated
*Health insurance provider fee is established Hospitals and Nursing Home Stipulations
* increased funding for Medicaid and primary care
*increased reporting requirements and taxes on medical devices CHANGES IN:
*Funding and Reimbursement
*Oversight Measures Slowed Growth
*Rebalancing long-term care
Nursing Home Protections
*Abuse *What’s new on tax returns?
*New Program’s and Rules Topic 954 *Charity Care (free healthcare) is provided to individuals who make 200% or less of the Federal Poverty Guidelines.
*Expanded Medicaid coverage will decrease charity adjustments.
*Gross patient service revenues are expected to increase due to more insured people.
Increase in Salaries and Wages
*More staffing needs.
*Providing health insurance to all employees.
*Increase in General & Administration Costs
*Implementation of new strategies
Increased Average Length of Stay.
*NFP Hospital will increase length of stay to reduce likelihood of readmission.
*May perform unnecessary tests