Health Care
Case Histories
Industry expertise. Extensive resources. Personal attention from senior-level professionals. This combination results in successful solutions for our clients.
Success Story # 1
After implementing across the board changes and re-structuring its management team, a not-for-profit acute care hospital emerged from bankruptcy protection. The road to profitability was challenging to maneuver. Emerging from the bankruptcy provided management with significant operational and accounting issues.
The hospital turned to Moss Adams for assistance. Our team worked with the client’s management and general counsel to bring the hospital’s defined benefit plan back into compliance with Department of Labor (DOL) and Internal Revenue Service regulations. This included performing audits of the Plan’s form 5500 for five separate year-end periods, and consulting with the general counsel to draft the request for penalty abatement from the DOL.
In addition, our team performed a complete risk assessment of the hospital’s internal controls over purchasing, revenue cycle, accounts payable, payroll, and cash controls. Based upon our recommendations, the hospital made significant improvements to its controls in these areas.
Success Story # 2
Moss Adams provides audit and tax services for a for-profit health care system which includes seven acute care hospitals, a medical group, and a surgery center.
During the first year of the engagement, our Moss Adams team met with members of senior management and conducted a complete review of the tax positions taken by the company in the past. After completing the review, we advised the organization to make a change in its accounting method to accelerate certain deductions. This change, coupled with other tax planning strategies, saved the company over $2,000,000.
Additionally, during the audit, our service team noted inefficiencies in the manner in which the client was accounting for bad debt write-offs. We met with management and made recommendations to streamline the organization’s accounting systems. As a result, its systems better conform to generally accepted accounting principles and more effectively use finance department resources.
Success Story # 3
Moss Adams provides audit and tax services for a for-profit hospital system with four acute care hospitals. Upon initially being hired, our service team performed a complete review of the system’s previously filed income tax returns. During the review, we noted that a net operating loss of approximately $35,000,000 had not been properly carried forward. We amended the previous tax returns in order to properly claim the net operating loss on the current period return. This saved the client over $10,000,000 in federal and state income taxes.
Health Care Contacts
Arizona
Tony Maki
480-444-3424
New Mexico
Brandon Fryar
505-830-6200
Northern California
Marci Pierce
415-677-8205
Oregon/Southwest Washington
Tony Andrade
503-242-1447
Southern California
DeVon Wiens
949-221-4000
Washington
Don Hansen
425-259-7227
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