At J.H. Cohn, our Healthcare Industry Practice is dedicated to serving healthcare organizations like yours. Our professionals keep you well prepared by offering an integrated approach, advising you on the most relevant issues. Our goal is to provide cutting-edge solutions to your increasingly complex issues.
Our partners and senior managers are committed to your success. They will:
- Develop a unique, integrated approach to ensure close attention to all of your needs in the accounting, tax, technology and consulting areas.
- Provide you with a full spectrum of consulting services aimed at simplifying increasingly complex operations and management issues.
- Share a deep understanding of healthcare organizations, the trends and challenges in the profession, and the special concerns of the individuals working within your organization.
- Build strong and meaningful relationships within the profession that provide an advantage for all of our healthcare clients.
The professionals at J.H. Cohn will help you identify the most effective and efficient business solutions for your company. We have created a talented, multi-disciplinary team of professionals focused specifically on the challenges and opportunities encountered throughout the healthcare industry. These professionals have extensive experience based on years of serving the healthcare sector that they will apply to your unique situation.
Healthcare Industry Snapshot
Hospitals, community health centers, skilled nursing and assisted living facilities, pharmaceutical companies, and other facilities face many common issues today.
Evolving trends that are impacting these organizations include:
- A high dependence on skilled labor
- An accelerating shortage of qualified nurses
- An increasing focus on technology, including e-procurement and online fundraising
- The use of IT for improved communication, better recordkeeping, quicker diagnostic reporting, fewer drug prescription errors, efficient supply purchasing and inventory control
- Outsourcing food service, laundry, housekeeping, and other nonessential services
At the same time, those in the healthcare profession are concerned about:
- Consolidations
- Government reimbursements
- Health Insurance Portability and Accountability Act (HIPAA) compliance issues
- Influence of The Sarbanes-Oxley Act
- Medical error liability
- Regulatory and legal changes
- Rising costs of drugs and drug shortages
- Risk of employee injury
- Security for patients and patient data
- Waste management
There is good news as well. Because of the size of the Baby Boomer generation, there is a steadily increasing aging population. Because of this, opportunities exist, and changes are taking place, such as:
- Growing outpatient services
- Identifying new revenue sources (such as retail and food services)
- Increasing "branded" facilities
- Increasing inpatient capacity
- Offering alternative medicine services
- Rising healthcare expenditures
Healthcare Services Competitive Advantage
The professionals at J.H. Cohn have extensive experience based on years of serving the healthcare sector that they will apply to your unique situation.
J.H. Cohn's fully integrated approach provides:
- Business plans and financial forecasting
- Comprehensive quality assurance programs
- Corporate compliance assistance
- Correct licensure deficiencies
- Financial, operational and management restructuring services
- Information technology solutions
- Market and feasibility studies
- Professional recruitment
- Reimbursement consulting
- Revenue cycle opportunity identification
- Sarbanes-Oxley Act reviews
- Strategic planning assistance
Healthcare's Critical Issues
There will always be new challenges in the healthcare sector. As your business advisors, our focus is on you and the critical issues you face, such as:
- Declining Federal and state funding
- Facilities operation concerns
- High cost of uninsured healthcare
- HIPAA compliance issues
- Influence of the Sarbanes-Oxley Act of 2002
- Purchasing and procurement challenges
- Rising cost of delivering excellent healthcare
- Insurance
- Labor
- Pharmaceuticals
- Technology