Wipfli: Insights

To Redisclose or Not to Redisclose—That Is the Question

Tue, 01 Sep 2015 00:00:00 GMT

Whether ‘tis nobler in the mind to suffer the slings and arrows of unpredictable regulators or to take arms against a sea of troubles and by inadvertent noncompliance be ended by them? To interpret: to try; to strive: perchance to comply.

Do you, like me, ever find yourself pondering regulatory text and flashing back to junior year literature class and the dreaded Shakespearean unit? Oh, the hours spent studying and analyzing and pouring over the text, all to write a simple one page essay on its meaning. Who knew the skills developed in that lit class would transfer so well to our success as compliance professionals?

As financial institutions continue to make it easier for consumers to move money with the click of a button, whether through mobile banking, electronic bill payment services, person to person (P2P) payments, or other methods, it’s increasingly important for compliance professionals to understand the regulatory expectations associated with each type of service offered.

Maximizing Owners' Retirement Plan Benefits

Tue, 01 Sep 2015 00:00:00 GMT

A common goal of owners of profitable, closely held small businesses is to minimize income taxes and save for retirement. Given its flexibility as a tax savings vehicle for the owners and employees of the business, the 401(k) retirement plan is a popular choice. Oftentimes these plans do not allow business owners to contribute as much as they would like on their own behalf. A possible solution may be to add a safe harbor 401(k) and cross-tested profit sharing allocation to their plan, perhaps combined with a cash balance plan.

Have You Completed Your Fair Lending Risk Assessment?

Tue, 01 Sep 2015 00:00:00 GMT

In the past few years, regulatory revisions, the formation of new entities, and new legislation have intensified the focus on fair lending examinations. Read more for a few of the highlights.

The Importance of Updating Beneficiary Designations

Tue, 01 Sep 2015 00:00:00 GMT

A recent U.S. Supreme Court decision reminds us that sometimes "whenever" never gets here, and the results can sometimes be tragic.

Most of us have more than enough to do. We’re on the go from early in the morning until well into the evening—six or seven days a week. Thus, it’s no surprise that we may let some important things slide. We know we need to get to them, but it seems like they can just as easily wait until tomorrow or the next day or... whenever.

Proposed Changes to the FLSA Overtime Regulations and the Actions Financial Institutions Should Take

Tue, 01 Sep 2015 00:00:00 GMT

By now, most financial institutions are likely aware that changes to white collar overtime exemption standards under the Fair Labor Standards Act (FLSA) are afoot!

The beginnings of these changes date back to March 13, 2014, when President Obama issued a memorandum to the Secretary of Labor indicating that the “regulations regarding exemptions from the Act’s overtime requirement, particularly for executive, administrative, and professional employees (often referred to as the “white collar” exemptions) have not kept up with our modern economy. Because these regulations are outdated, millions of Americans lack the protections of overtime and even the right to the minimum wage.” President Obama then issued a Presidential Directive to “propose revisions to modernize and streamline the existing overtime regulations.”

Is it Time to Revisit Your de Minimis Capitalization Policy?

Tue, 01 Sep 2015 00:00:00 GMT

Since this was a taxpayer-friendly provision, many financial institutions adopted capitalization policies conforming to the new rules and elected the maximum de minimis threshold of $5,000. This often caused some unexpected results. Many financial institutions ran into situations in which they purchased several units of property at one time and expected to capitalize them as a “large” purchase but ended up having to expense them because each unit was individually under the $5,000 per item de minimis threshold set in their policy. A common example of this would be purchasing 30 computers for $40,000. Since each computer is under $5,000, the policy dictates that the entire amount is expensed both for book and tax. While the deduction results in current tax savings, the $40,000 expense would be a hit to book net income and also a hit to regulatory capital. Regulatory capital is a key piece to the overall financial statements and financial institution regulatory requirements. Therefore, the de minimis amount should be carefully considered.

The FASB Plans to Clean up Business Combination Accounting Rules

Tue, 01 Sep 2015 00:00:00 GMT

The Financial Accounting Standards Board (FASB) is working on two projects to simplify and clarify the accounting rules that relate to business combinations, which may be good news for companies with future M&A aspirations. In May, the FASB continued its work on refining the definition of a business to help accountants distinguish between transactions that should be treated as acquisitions (or disposals) of assets and transactions that should be treated as acquisitions (or disposals) of businesses. The distinction is important because, if a business buys or acquires another business, it must follow FASB Accounting Standards Codification (ASC) Topic 805, Business Combinations.

FASB Votes to Defer New Revenue Recognition Standard by One Year

Tue, 01 Sep 2015 00:00:00 GMT

In May 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) jointly issued a converged standard, providing guidance on the recognition of revenue from contracts with customers. The FASB version of the standard is referred to as ASU 2014-09. This is a historic, game-changing standard, since revenue is arguably the most influential driver on a company’s financial statement.

The FASB recently (July 9, 2015) voted to defer the effective date of the new revenue standard by one year. Thus, public entities are now required to implement the standard for annual reporting periods beginning on or after December 15, 2017, and nonpublic entities are required to implement the new standard for annual periods beginning on or after December 15, 2018. The standard itself was relatively unchanged; however, companies now have a longer period of time to understand and implement the requirements of the new standard.

Using the Research Credit to Reduce the Effective Tax Rate

Tue, 01 Sep 2015 00:00:00 GMT

Many businesses focus on tax strategies to lower their current tax liability, such as using accelerated depreciation methods or LIFO inventory. While these strategies are beneficial, C corporations must record a deferred tax expense and liability in order to use them.

A more attractive strategy that many companies overlook is the research tax credit, which creates a permanent reduction in taxes, resulting in a lower effective tax rate.

Is Your Holding Company Thinking Strategically?

Tue, 01 Sep 2015 00:00:00 GMT

The acquisition market is heating up, shareholders are becoming less and less connected to community banks, shareholder liquidity has been an issue for some holding companies lately, and many holding companies over the last 7 or 8 years have not been a source of strength to their bank subsidiaries. These and other items impacting holding companies and their related subsidiaries make me wonder if community bank holding companies are truly thinking strategically.

Examiners and Your Institution’s BSA/AML System

Tue, 01 Sep 2015 00:00:00 GMT

Now that your institution has purchased a fancy Bank Secrecy Act/Anti-Money Laundering (BSA/AML) software system (system), what exactly are the examiners looking for and what might they criticize?

Examination criticisms regarding BSA/AML system validation often center on how the various levels of bank staff understand this tool and its associated risks, challenges, and rewards. When investing in this type of system, you want to know that you are receiving appropriate risk coverage and protection.

Ask Both: What Can Your ACH Audit Do for You . . .And What Can You Do for Your ACH Audit?

Tue, 01 Sep 2015 00:00:00 GMT

Every financial institution that sends and/or receives entries through the Automated Clearing House (ACH) is required to have an annual ACH audit that meets the minimum audit requirements of Appendix Eight of the NACHA Operating Rules. NACHA does not provide specific methodology for meeting the minimum audit requirements, so there tends to be various approaches, and not all approaches will yield the same results.

Business Intelligence: Discover Your Company’s Untapped Potential - Recorded Webinar

Tue, 25 Aug 2015 00:00:00 GMT

What is business intelligence all about? Discovery! Specifically, discovering where issues and opportunity exist in your organization. The true power of business intelligence comes from combining data from multiple sources and connecting the data in new ways not previously possible, which creates new insights, new thoughts, and new questions.

One Source of Truth: As the competition continues to increase for manufacturers, informed decisions must happen quickly across the organization, and business leaders will be expected to provide reliable data to support decisions and prove results.

Quick, Informed Decisions: Business intelligence gives manufacturers the confidence to trust more decision making to more people across the organization.

Join us for a discussion on business intelligence and demonstration of a real-world dashboard application used to make strategic, operational, and tactical discoveries. We will begin with an introduction of our best practices framework for building your business intelligence strategy, followed by a walk-through of a real-world business intelligence solution.

Learning Objectives

Understand the foundational concepts of a successful business intelligence program.
Review of the best practices framework for building your program.
Role play walk-through of an Operations Dashboard.

Multifaceted Benchmarking to Achieve Effective Financial Performance

Mon, 24 Aug 2015 00:00:00 GMT

Amid a sea of changing health care laws, the needs of the country’s largest demographic are once again making waves across the health care delivery continuum. The result is that hospitals are treating larger numbers of patients while also dealing with new constraints, like financial penalties for readmissions.

If the challenges of governmentally imposed payment stress weren’t enough, boomers are likely to demand new facilities, unprecedented amenities, and suites of services to help them enjoy their “golden years.” Oh—and did we mention—the workforce of RNs, LPNs, and caregivers is dwindling and is expected to decline dramatically in the coming years. This will make recruiting and retaining an adequate quality workforce a top strategic priority for many providers.

As a senior living or post-acute provider, you must focus on four critical benchmark categories to remain relevant in today’s increasingly crowded marketplace. Read the article below to gain insight on these four benchmarks.

ACA Compliance and Form 1095-C for Great Plains - Recorded Webinar

Mon, 17 Aug 2015 00:00:00 GMT

A recent survey of employers with fewer than 1,000 employees revealed that 60 percent have not committed to a solution for meeting their Form 1095-C reporting obligation of employer-provided health insurance offer and coverage to their employees.

Are you still wading through your options? Are you wondering how Great Plains can be used to prepare your filings? Check out this informative on-demand webinar to learn more.

Affordable Care Act Health Insurance Information Reporting for Small Businesses - Recorded Webinar

Wed, 12 Aug 2015 00:00:00 GMT

This webinar was recorded August 12, 2015

A recent survey of employers with fewer than 1000 employees revealed that 60 percent have not committed to a solution for meeting their Form 1095-C reporting obligation of employer-provided health insurance offer and coverage to their employees.

Are you still wading through your options?

Recently, on June 25, the U.S. Supreme Court upheld the federal subsidies for Marketplace insurance allowed by the Affordable Care Act (ACA). Hence, if you are an employer that has not taken action, there is no longer any reason to delay making decisions.

The first new ACA reporting is due beginning in January 2016 and required IRS forms must contain data on employees for every month in 2015. During this webinar, we reviewed and addressed:

Who needs to complete health insurance information reporting and which forms need to be prepared and filed
What is involved in completing the forms, including data that needs to be tracked on a monthly basis
Transition rules for certain employers
Factors to consider when evaluating options for in-house or outsourced Form 1095-C preparation

This webinar is designed for business owners, presidents, human resource directors/managers, and other leaders. Implementation and compliance will require top management’s understanding and involvement in decision making.

Six Key Behaviors to Achieve Value-Based Care

Tue, 11 Aug 2015 00:00:00 GMT

By 2016, the Department of Health and Human Services has a goal of having 30 percent of fee-for-service Medicare payments tied to quality or value through alternative payment models such as accountable care organizations (ACOs), value-based reimbursement, or bundled payments. According to the HHS news release on January 26, 2015, this will jump to 50 percent by the end of 2018. Is your organization ready to meet the challenge to achieve value-based care by next year?

Read the article below to learn about six key behavioral shifts that can help propel your transformation strategy and move your organization toward value-based, collaborative care across the continuum of providers.

Is Your Back Office Working for You or Against You?

Tue, 11 Aug 2015 00:00:00 GMT

Back office tasks are behind-the-scenes tasks that are closely tied to the operations of any office. These tasks include bill processing, vendor payments, payroll processing, preparation of financial statements, human resource tasks such as hiring and performance appraisals, information technology tasks such as software selection and server maintenance, and much more. “Back office” tasks do not bring in income and can significantly increase or decrease the costs to run the business. The challenge is to find the most cost- and time-efficient means to accomplish these tasks so that the business runs smoothly and profits are maximized.

Read the article below to understand the true cost of back office functions and how to look for ways to increase effectiveness in an economical manner.

Simplify and Standardize With Microsoft Dynamics® Lifecycle Services - Recorded Webinar

Wed, 05 Aug 2015 00:00:00 GMT

Lifecycle Services (LCS) is a cloud-hosted portal that can help make implementations faster, upgrades easier, and long-term maintenance more efficient. LCS contains a set of regularly updated features and functionality that customers and partners, separately and together, can use to manage the application life cycle of Microsoft Dynamics^® AX 2012.

In the on-demand webinar you will learn more about the LCS features and functionality available in Microsoft Dynamics® LCS that can support your implementation, upgrade, and maintenance of Dynamics® AX.

It Is Time to Get Serious About Strategic Planning

Wed, 05 Aug 2015 00:00:00 GMT

The crisis is over. However, the banking industry has crossed a bridge into a new territory, and someone burned the bridge on the way over. Banking is not going back to the way it used to be. Whether it is weak macroeconomic growth, the prolonged compression of net interest margins, the dearth of banking talent, increasing costs (regulatory, technology, etc.), competition from nonbank entities, or a combination of these and other issues facing the industry, the game has changed in a material way. As banks shift from “fix” to “grow,” many are looking around and realizing that huge chunks of the old playbook are no longer relevant. What do you do?

Cloud Computing: Ideal for Small Businesses

Wed, 05 Aug 2015 00:00:00 GMT

The “cloud” is here to stay, and it’s taking more and more nonprofits by storm. In 2014 we witnessed a marked increase in the number of small and medium-sized nonprofits (SMNP) using cloud technologies. This trend of migration to the cloud will most assuredly continue at an even faster pace in 2015. One reason is that major players in the cloud services market, like Amazon, Google, and Microsoft, have made the move much more appealing. As these companies reduce their prices (or offer it free to nonprofits, like some do now) while adding more features to their offerings, the cloud becomes less and less intimidating by the day. Still, most SMNPs have not yet made the move. Learn about a few ways nonprofits can benefit from cloud solutions.

The Fundamentals of Incident Response Management Plan

Thu, 30 Jul 2015 00:00:00 GMT

In the case of a tornado or other natural disaster, most health care organizations have a practical response plan, one that’s practiced regularly and updated as needed. But when it comes to a cyberattack, a missing or stolen laptop, or a curious vendor who helps himself to PHI files, does your organization have a swift, practiced, and updated response plan? Read the article below to gain insight on vital elements to consider for ensuring your plan covers all of the fundamentals.

Health Care M&A Update: First Half 2015

Thu, 30 Jul 2015 00:00:00 GMT

Middle-market deal volume fell year over year during the first half of 2015 to 186 transactions from 213 the year prior. Median LTM valuation multiples also declined to the lowest level since Q2 2014, registering 9.2x trailing EBITDA. Read the full report below to see if this trend will continue.

Five Mistakes Companies Make In Managing Customer-Provided Exemption Certificates (Is Your Company Guilty?)

Tue, 28 Jul 2015 00:00:00 GMT

I often use the phrase “get out of jail free card” when discussing tax matters. Of course, sales tax is not a Monopoly game (it’s much more serious), but if ever there was a “get out of sales tax jail free card,” it’s the exemption certificate you take from your customer to support the fact that your invoice has no sales tax on it. Too often, exemption certificates take a back seat in a company’s sales tax compliance procedures, when a proper system can protect the company from significant liability.

Minnesota Provides Up-Front Sales Tax Exemption on Capital Equipment

Tue, 28 Jul 2015 00:00:00 GMT

As of July 1, 2015, Minnesota law allows a sales and use tax exemption at the time of purchase on qualified capital equipment. This exemption is available to people who purchase or lease capital equipment for use in Minnesota.

In order to qualify for the direct sales and use tax exemption, the equipment must be used to primarily manufacture, fabricate, mine, or refine tangible personal property to be sold at retail. Primarily, this means that the equipment must be used 50 percent or more of its operating time in a qualifying activity. The capital equipment must be essential to the “integrated production process of manufacturing, fabricating, mining, or refining.” Capital equipment also includes machinery and equipment used by online, computerized data-retrieval systems. Capital equipment also includes repair and replacement parts, including accessories, whether purchased as spare parts, repair parts, or upgrades or modifications to machinery or equipment.

SALT-ED Q&A: How do I avoid paying sales tax on the purchase of exempt items?

Tue, 28 Jul 2015 00:00:00 GMT

Q: How do I avoid paying sales tax on the purchase of exempt items?

A: In most states, all sales of tangible personal property are deemed taxable unless an exemption exists. Situations in which an item is exempt by statute are limited, regardless of the purchaser or use of the item. Unless an exemption falls into the category of an item exempt by statute, regardless of purchaser, in order to avoid tax you are required to provide an exemption certificate or another document that contains all the items necessary to be treated as an exemption certificate:

The name of the purchaser.
The address of the purchaser.
The signature of the purchaser (does not need to be an officer of the entity).
A general description of the purchaser's business.
The basis for the claimed exemption, including the seller's permit number of the purchaser.

Selling a Business: Have You Proactively Addressed State and Local Tax Issues Before the “For Sale” Sign Goes Up?

Tue, 28 Jul 2015 00:00:00 GMT

Most of the time, state and local tax is not at the forefront when a business owner or management team puts a company up for sale. However, our experience dictates that it should be addressed early in the process because of the potentially significant impact state and local tax can have on the seller’s side of the transaction.

Cybercrime in Manufacturing: You’re Next

Wed, 22 Jul 2015 00:00:00 GMT

When it comes to fraud, the path of least resistance is leading right to your door. As financial institutions, retailers, and other industries shore up their security measures, criminals are simply redirecting their malicious efforts toward more vulnerable targets—manufacturers like you.

What do they want? Anything they can get. Intellectual property, trade secrets, research and development plans, employee social security numbers, customer and vendor lists, payment and banking information, and the list goes on.

Affordable Care Act Health Insurance Information Reporting: Are You Prepared? - Recorded Webinar

Tue, 21 Jul 2015 00:00:00 GMT

A recent survey of employers with fewer than 1000 employees revealed that 60 percent have not committed to a solution for meeting their Form 1095-C reporting obligation of employer-provided health insurance offer and coverage to their employees.

Are you still wading through your options?

Recently, on June 25, the U.S. Supreme Court upheld the federal subsidies for Marketplace insurance allowed by the Affordable Care Act (ACA). Hence, if you are an employer that has not taken action, there is no longer any reason to delay making decisions.

The first new ACA reporting is due beginning in January 2016 and required IRS forms must contain data on employees for every month in 2015. During this webinar, we will specifically review and address:

Who needs to complete health insurance information reporting and which forms need to be prepared and filed
What is involved in completing the forms, including data that needs to be tracked on a monthly basis
Transition rules for certain employers
Factors to consider when evaluating options for in-house or outsourced Form 1095-C preparation.

Who should attend?

This webinar is designed for business owners, presidents, CEOs, CFOs, COOs, human resource VPs/directors/managers, and board members. Implementation and compliance will require top management’s understanding and involvement in decision making.

Recap and Review of the NEW FFIEC Cybersecurity Assessment Tool

Tue, 21 Jul 2015 00:00:00 GMT

The evening of June 30 felt like Christmas Eve. But instead of the anticipation of waking up to see what presents were under the tree, my excitement came from logging into the Wipfli network to open e-mail attachments I had just received on my phone. You see, I had been waiting for weeks for the FFIEC to deliver on its promise of having a Cybersecurity Assessment Tool—and there it was on the evening of June 30, sitting in the inbox of my iPhone tempting me to get out of bed and start reading.

I sprang out of bed early the next day, rushed downstairs, set up my VPN connection, and began unpacking the contents of the message. This article covers what I found.

Succession: Planning for a Senior Living Leadership Transition

Thu, 01 Aug 2013 00:00:00 GMT

One of the most important decisions a nursing home’s board of directors will ever make is who will lead the organization as its Chief Executive Officer (CEO). Each nursing home’s circumstances are different, of course, so the factors that are important to one may not be to another. In this article, we will explore some of the issues we commonly see when assisting boards with planning for a leadership transition. Although we will concentrate on the CEO position, the process we describe can be utilized for any executive or leadership role. We will explore:

• Board responsibility

• Reasons for CEO transitions

• Assessment of your current situation

• Transition types

• Determination of talent needs and wants

• Development or hiring

• Process considerations

• Common mistakes we see

Succession: Planning for a Hospital Leadership Transition

Thu, 01 Aug 2013 00:00:00 GMT

One of the most important decisions a hospital’s board of directors will ever make is who will lead the organization as its Chief Executive Officer (CEO). Each hospital’s circumstances are different, of course, so the factors that are important to one may not be to another. In this article, we will explore some of the issues we commonly see when assisting boards with planning for a leadership transition. Although we will concentrate on the CEO position, the process we describe can be utilized for any executive or leadership role. We will explore:

• Board responsibility

• Reasons for CEO transitions

• Assessment of your current situation

• Transition types

• Determination of talent needs and wants

• Development or hiring

• Process considerations

• Common mistakes we see

Basel III Final Rule

Tue, 30 Jul 2013 00:00:00 GMT

The Federal Reserve Board approved the final Basel III rules on July 2, 2013, and the Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) approved these rules on July 9, 2013. Although the final rule offers some relief to community banks (generally less than $15 billion in total assets) from the original proposal by exempting them from some of the requirements, significant changes to regulatory capital requirements will apply to community banks beginning January 1, 2015. Small bank holding companies with less than $500 million in assets will continue to be exempt from the regulatory capital requirements, but their depository institution(s) must comply with the new rules.

Do’s and Don’ts: Insider Internal Revenue Service Tips

Tue, 09 Jul 2013 00:00:00 GMT

Over the last few months, there has been much media coverage regarding the Internal Revenue Service (IRS) and its response to tax-exempt applicants, as well as the scrutiny it applies in making tax-exempt determinations of those entities. While it appears some IRS individuals might have acted inappropriately, the vast majority of IRS employees perform their collection and auditing tasks correctly and efficiently, day in and day out. In fact, the IRS and its employees collected more than $2.5 trillion in revenue and processed more than 237 million tax returns in 2012.

Many Americans are unaware of the additional responsibilities the IRS diligently performs to protect taxpayers and help them meet their tax obligations. The following facts about the IRS along with helpful do’s and don’ts can give individuals and organizations valuable insights for remaining compliant.

Personal Devices in the Workplace: Managing Information Security Risks

Tue, 02 Jul 2013 00:00:00 GMT

When it comes to using personal mobile devices in the workplace, the proverbial horse is out of the barn. Personal device use in the workplace—commonly referred to as Bring Your Own Device (BYOD)—has never been more popular. Therefore, it is important that health care organizations and their business associates understand the myriad of risks associated with allowing the use of personal devices to perform business-related activities. However, before discussing what organizations need to be concerned with, it is helpful to explain the reasons for its popularity and why there is no turning back.

Aligning Performance Management and Compensation Systems

Mon, 01 Jul 2013 00:00:00 GMT

As human resource consultants, we see more frustration and consternation among our clients over performance management and compensation issues than any other human resource issue. It is important to align performance management and compensation systems to enhance employees’ understanding of the expectations surrounding performance and the impact performance has on compensation.

How Does Your Compliance Management System Rate?

Mon, 01 Jul 2013 00:00:00 GMT

The effectiveness of a compliance management system depends on many factors, including the Board of Directors’ and senior management’s philosophy regarding compliance, employee knowledge and expertise, past compliance performance, and appropriate corrective action for identified weaknesses and violations.

Internal Controls and Fraud Prevention

Mon, 01 Jul 2013 00:00:00 GMT

Although some of the things financial institution employees or members of management do may seem routine or noncritical, it is important to remember that these seemingly small controls do matter and are a necessary part of the control structure for the institution as a whole. When basic controls are not implemented by management or not followed appropriately by employees, it may make it easier for fraud to occur at the organization. The following are areas where fraud and embezzlement can occur and some “common sense” controls that can minimize the financial institution’s risk.

Don’t Lose Your S-Corporation Status!

Mon, 01 Jul 2013 00:00:00 GMT

Once a bank has obtained S-corporation (“S-corp”) status, there are certain restrictions on shareholders that the bank needs to comply with to maintain that status. Bank management should exercise due diligence every time shares are transferred or it will be forced to “play catch up” to maintain its tax-favored status and protect the bank from liability.

How Does Your Compliance Management System Rate? (Credit Unions)

Mon, 01 Jul 2013 00:00:00 GMT

The effectiveness of a compliance management system depends on many factors, including the Supervisory Committee’s and senior management’s philosophy regarding compliance, employee knowledge and expertise, past compliance performance, and appropriate corrective action for identified weaknesses and violations.

Are You Getting the Most Out of Your ERP Efforts?

Thu, 27 Jun 2013 00:00:00 GMT

Enterprise Resource Planning (ERP) is now in the reach of every manufacturer, regardless of size. Most businesses clearly recognize the benefits to be gained by having a sound ERP system, including enhanced productivity, reduced costs, and improved operations, and better customer relations are just some of the many benefits.

Not all manufacturers are realizing the full range of benefits ERP can deliver, but the companies that do, have several key traits in common. How does your ERP performance and investment stack up against the best, and what can you learn from manufacturers that are good at ERP strategy? This paper explores vital performance indicators of best-in-class manufacturers and establishes a point of reference for actionable recommendations.

Conflict Minerals: Understanding and Complying With Section 1502 of the Dodd-Frank Act - Recorded Webinar

Thu, 20 Jun 2013 00:00:00 GMT

The Dodd-Frank Act is not just for financial institutions; it applies to manufacturers as well. As with many laws passed by Congress, there is typically some obscure section of the law that has nothing to do with the original legislation. The Dodd-Frank Act is no exception.

Section 1502 of the Dodd-Frank Act applies to manufacturers that use four specific metals in their manufacturing process. The four metals are tungsten, tin, tantalum, and gold. If your company uses any of these metals in the manufacturing process, you may need to comply with the provisions of the law and provide reporting either to the SEC or your upstream supply chain. It is estimated that over 6,000 companies will need to report to the SEC and another 280,000 companies will be involved in verifying compliance with the Act.

Learning objectives:

Gain an understanding of what Section 1502 of the Dodd-Frank Act is and how conflict minerals will impact manufacturers of all sizes.
Obtain a roadmap of the action items needed to ensure your company is prepared to respond to either Section 1502 or supplier requests pertaining to conflict minerals.
Get answers to frequently asked questions regarding the conflict minerals legislation.

Recent Gift Tax Decisions: Favorable Impacts on Pass-Through Entities

Wed, 12 Jun 2013 00:00:00 GMT

Recent Gift Tax Decisions Aid in Formation and Valuation of Pass-Through Entities Such as Family Limited Partnerships (FLP) and Limited Liability Companies (LLC).

Gone But Not Forgotten: An Employee Handbook… For Managing Former Employees

Fri, 07 Jun 2013 00:00:00 GMT

Preserving and protecting your information—and your rights as an employer—starts by having the right policies and procedures in place even before employment begins, as well as during employment, as you learn of their departure, and after employment is terminated.

This primer covers the main measures that are critical to protecting an organization from the potential aftermath and consequences of an employee’s departure.

Health Care Affiliations and Acquisitions: Understanding Market and Value Drivers and Legal Diligence Requirements – Recorded Webinar

Wed, 05 Jun 2013 00:00:00 GMT

This webinar was recorded June 5, 2013.

In this webinar we will present important information you need to understand before entering into any formal agreement to affiliate, merge or acquire another health care organization. In addition, we’ll present the necessary associated legal and regulatory requirements. Collaborative relationships are not cookie cutter, therefore you will also learn about the important choices included in a legal agreement, and any implications of those choices.

In addition, we’ll explain how Stark Law Rules and IRS regulations require health care systems to pay fair market value or less when acquiring business entities. Did you know that any overpayment could be construed as payment for referrals and could result in penalties or the loss of your not-for-profit status?

Security Asset Management: An Ounce of Prevention

Tue, 04 Jun 2013 00:00:00 GMT

As technology becomes an integral part of quality health care delivery, knowing where electronic patient health information (ePHI) resides, a key to protecting clinical and patient data, becomes all the more vital. One critical aspect of information security that deserves increased vigilance is security asset management.

Security asset management is the practice of formally accounting for all assets that contain sensitive or confidential information—and doing so throughout the life of those assets.

Health Care Reform: Understanding and Preparing for the 2014 Provisions - Recorded Webinar

Tue, 28 May 2013 00:00:00 GMT

Are you prepared? Every manufacturer will be affected by health care reform with its impact on providing health insurance to employees. Understanding the various provisions and knowing which ones affect your organization can be overwhelming.

You should be planning NOW, in 2013, to manage the significant financial and operational implications of this law—you cannot wait until 2014. It is a daunting task to understand the myriad of fees, taxes, health insurance plan design issues, and reporting requirements that will be applicable to your organization.

During this information-packed webinar, we will provide the following:

An overview of how we got to this point—in particular, implications of Supreme Court decisions
Up-to-date information on significant new taxes, penalties, and reporting requirements
How to determine if you are an “applicable large employer” and thus subject to “play or pay”
How to determine which employees will be full-time and thus required to be provided health insurance coverage
What an “exchange” is, how it is intended to work, and how it will affect employers
Options for employee, spouse, and dependent coverage and cost implications of reform provisions
Many other provisions and complexities and what we are seeing employers considering for the future

Sage NonProfit Solutions Newsletter – 2nd Quarter 2013

Wed, 22 May 2013 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

How to Use Audit Trail Features
Important Announcement: Regarding the Sale of Sage NonProfit Solutions
Version 2013 System Requirements

Enhancing Collaboration and Knowledge Sharing in Your Business - Recorded Webinar

Tue, 21 May 2013 00:00:00 GMT

Your company has a lot of data. The challenge is how to extract value by turning that data into meaningful information and business insights. Your ERP system and other line-of-business systems are great at what they do, but collectively the data they contain is segmented and often limited to subsets of your organization.

Microsoft SharePoint is a versatile technology that businesses of all sizes are using to enhance collaboration and help employees stay connected across organizational boundaries. Having a single, integrated location and simplified user experience helps everyone organize, sync, and share information. In addition, new social capabilities make it easy to share ideas, keep track of what colleagues are working on, and even search for and discover experts within your organization who you never knew existed.

During this webinar we will discuss:

Augmenting systems of record with systems of engagement.
Overcoming information silos to help employees stay connected throughout your organization.
Giving employees access to information they need when they need it for better decision making.
Receiving potential benefits of leveraging the cloud and visualization for more effective interactions.

Deciding on Financing Options: What’s Available and Best Practices in RFP Creation and Evaluation – Recorded Webinar

Tue, 21 May 2013 00:00:00 GMT

This webinar was recorded May 21, 2013.

Capital is again available for rural health care organizations. Government programs (i.e., USDA, HUD mortgage insurance), banks, and the bond market are all viable options. With so many options how do you choose which type of financing vehicle is best and who should help you in securing that financing? This webinar will empower management and Boards to first understand the differences between today’s financing vehicles and lenders, then learn how to effectively conduct an RFP process that will enable an apples-to-apples comparison. In addition, training on how to develop relevant criteria for deciding on a financing option and then the best firm/organization to work with the chosen financing vehicle will be provided. The webinar will conclude with tips on how participants can apply their newly acquired knowledge and training to evaluating RFP responses.

Hospital-Physician Affiliations and Transactions: How Fair Market Value and Commercially Reasonable Standards Apply

Thu, 02 May 2013 00:00:00 GMT

Integration between physicians and hospitals continues to advance at an accelerated pace. An increasing number of physicians are either employed by a hospital/health system or operate under a Professional Services Agreement (PSA). With the increasing acquisitions and financial arrangements between physicians and hospitals comes increased scrutiny and compliance with regulations surrounding these types of arrangements. Financial arrangements between physicians and hospitals need to comply with the following regulations:

1. Stark (I, II, and III)

2. Office of Inspector General False Claims/Anti-kickback provisions

3. Internal Revenue Service private inurement

Financial payments made to physicians from a hospital/health system typically have to be set at Fair Market Value (FMV) and be considered commercially reasonable to comply with all the regulations. What do Fair Market Value and Commercially Reasonable mean in the context of physician/hospital transactions? Why should a hospital be concerned? And how can the hospital ensure transactions are set at Fair Market Value and be Commercially Reasonable?

Affordable Care Act

Wed, 01 May 2013 00:00:00 GMT

The Affordable Care Act (ACA) is intended to reduce the number of uninsured individuals and promote employer-sponsored benefits. With ACA requirements rolling out on the horizon, most small employers still have questions.

Third-Party Payment Processors – Mitigating Risk

Wed, 01 May 2013 00:00:00 GMT

Certain products and services offered by your customers can pose a higher risk of money laundering or terrorist financing. One such service is third-party payment processing. Payment processors not only pose higher Bank Secrecy Act/Anti-Money Laundering (BSA/AML) risk, they also carry a high risk of fraudulent transactions being processed through their accounts held at financial institutions.

"Troubleshooting” Some Loan Accounting Issues – Part 2

Wed, 01 May 2013 00:00:00 GMT

Since we published a series of questions and answers on some loan accounting issues in our January 2013 newsletter, our clients have raised a few more loan-related questions that we believe will impact many financial institutions and, accordingly, deserve some attention.

Concrete Terms — May 2013

Wed, 01 May 2013 00:00:00 GMT

Protect the owner with a right-to-audit clause included in every contract.

Most cost-plus construction contracts include a clause giving the owner the right to audit the contractor’s records to determine compliance with the contract terms and ensure the owner was billed correctly for the work completed. Stipulated-sum or fixed-price contracts normally do not give the owner the right to examine the contractor’s records or specify that the contractor should keep the project records for at least three years.

All construction contracts—cost-plus, stipulated-sum, and fixed-price—should contain language to give the owner the option of examining a contractor’s records to verify compliance with the contract terms.

Keep reading to learn why a right-to-audit clause should be a part of every construction contract.

Senior Housing: Trends and Opportunities Within the Fastest Growing Market

Wed, 24 Apr 2013 00:00:00 GMT

By 2030, the nation’s oldest population will burgeon as the Baby Boomer generation reaches and surpasses age 65. By then there will be nearly 72.1 million older persons, more than twice their number in 2000.

A closer look shows the 65 and older population is projected to increase from 40 million in 2010 to 55 million in 2020, a 36% increase in just a decade. The 85 and older population is projected to increase from 5.5 million in 2010 to 6.6 million in 2020, a 19% increase for the decade.

Given the large number of seniors facing future housing needs, it’s no surprise the senior housing sector is attracting lots of attention both from the investment world and from developers.

Retention Strategies for Keeping Your Best Employees - Recorded Webinar

Mon, 22 Apr 2013 00:00:00 GMT

Hiring employees is just a start to creating a strong work force. Next, you have to keep them. Retaining quality employees and keeping the employees you really want is an ongoing challenge for any organization. During this webinar, we will:

Take a fresh look at retention strategies
Identify where in your organization the responsibility for retention should lie
Review several key processes that can improve employee retention and positively impact important business outcomes i.e. revenue, cost, quality

Additional highlights of this information-packed webinar will include a discussion on:

Why employees stay or leave and how to conduct ‘stay’ interviews vs. exit interviews
The roles and accountabilities for HR professionals and supervisors
Recruiting strategies for improving retention

Employer Provisions of Health Care Reform: Are You Prepared? – Recorded Webinar

Mon, 15 Apr 2013 00:00:00 GMT

This webinar was recorded April 11, 2013.

Every health care provider in the U.S. will be affected by the employer provisions of the PPACA. Although most hospitals and clinics have been focusing on the reimbursement impact of this sweeping legislation, it is equally important to understand it from the employer perspective. And you should be planning NOW, in 2013, for managing the significant financial and operational implications of this law—you cannot wait until 2014. It is a daunting task to understand the myriad of fees, taxes, health insurance plan design issues, and reporting requirements that will be applicable to your organization. In this webinar, we will provide you with the following

An overview of how we got to this point—implications of Supreme Court decisions, W-2 reporting, SBCs, adult dependent coverage, grandfathered plans, etc.
Up-to-date information on significant new taxes, penalties, and reporting requirements
How to determine if you are an “applicable large employer” and subject to “Play or Pay”
How to determine which employees will be eligible for health insurance coverage
What an “Exchange” is and how it is intended to work
Options for calculating FTEs and “affordability” of coverage
Implications for employee, spouse, and dependent coverage and costs
Many other provisions and complexities, and what we are seeing employers do

Dodd-Frank Act and Financial Institutions – The Measured Approach

Tue, 01 Mar 2011 00:00:00 GMT

Enacted on July 21, 2010, the Dodd-Frank financial reform legislation has been called “the most sweeping change to the U.S. financial services industry.” It is comprised of some 2,300 pages and contains 16 different titles. There are predictions that the implementing regulations will exceed 5,000 pages. The estimated number of regulations is 250, and 11 agencies will be involved. Some of the pieces have already had an impact on financial institutions.

Preparing For Your Next Information Technology Examination

Tue, 01 Mar 2011 00:00:00 GMT

Technological changes occur quickly and often, and with those changes come new and myriad threats. That is why it is crucial your technology program be driven by the risk profile of your institution; you do not have resources to address every threat, so you must focus on those with the highest likelihood and potential impact. It is as critical to correlate your risk assessment to your information technology infrastructure as it is to your auditing, continuity plan validation, employee training, policy revisions, and new controls. All should flow from your risk priorities.

Physican-Hospital Integration Case Study

Wed, 23 Feb 2011 00:00:00 GMT

State and federal health reform activity, along with a continuing increase in consumerism, have forced the health care industry to focus a bright light on how it intends to respond to the strategic and operational consequences of reform compliance, including:

Monitoring a population’s health (metrics)
Reducing the cost per unit of care (utilization)
Delivering an exceptional patient experience (every time)

Effective clinical integration of hospital-physician systems will be a core element of successful health care delivery. During this webinar, David Rothschiller, Executive Director of the St. Paul Heart Clinic, and Perry Hanson, Wipfli Partner, will examine the circumstances and decisions of a large, urban cardiology practice that disbanded its private group and integrated with two discrete health systems.

Download this webinar to explore the key implementation issues St. Paul Heart Clinic considered in their integration, and get an inside look at some of the lessons learned along the way. We will review how they approached:

- Current (2009) and future reimbursement environment
- Group expectations, values, and strategic/operational responses to emerging market realities
- The decision to integrate and its impact on clinicians and staff
- Key elements of the negotiations

Social Media - What is it, who's using it, and why? - Recorded Webinar

Fri, 28 Jan 2011 00:00:00 GMT

According to guest presenter, Susan Finco, President/Owner of Leonard & Finco Public Relations, social media is not just for kids anymore and you can’t ignore it any longer. It is here to stay. That means you need to understand what it is, how it works and what it has to offer your business.

This webinar presentation, intended for business owners, leadership, and sales and marketing personnel for manufacturers of all sizes, will:

Provide you with a basic understanding of the main social media tools
Discuss how to integrate social media into your overall marketing plan
Give examples of how businesses are using social media for recruitment, networking, sales, and brand promotion
Discuss social media policies for your workforce
Spotlight “what’s next” in social media

Is the SBLF Right for Your Community Bank?

Tue, 25 Jan 2011 00:00:00 GMT

The Small Business Lending Fund (“SBLF”), designed to provide up to $30 billion in capital to qualified community banks and other financial institutions, was enacted into law with the passage of the Small Business Jobs Act of 2010. The SBLF funds will be considered Tier 1 capital.

Concrete Terms January 2011

Wed, 19 Jan 2011 00:00:00 GMT

How to protect your client with proper contract language and help mitigate the risk of excessive rental charges.

Charging rent for equipment is an important profit center for contractors, and they're entitled to a reasonable return on their investment. In this issue of Concrete Terms, we will help define 'reasonable.'

Concrete Terms was created to give busy construction and real estate attorneys quick and practical information they can use to serve their clients better.

Sourcing Strategies to Optimize Your Organization - Recorded Webinar

Mon, 10 Jan 2011 00:00:00 GMT

The business environment is becoming more competitive, and companies are looking to accomplish more at a lower cost structure. The largest cost for most companies is the cost of labor. Labor that is directly tied to your core business is critical and should be the focus of your attention.

At the same time, services that support your core business may be ‘sourced’ to others for optimal performance. In-sourcing, co-sourcing, and outsourcing are alternative strategies for managing overhead costs while supporting your core business. This webinar presentation will focus on defining these alternatives and describing how companies are benefiting from executing these strategies.

Seven Community Banking Issues to Address in 2011

Mon, 10 Jan 2011 00:00:00 GMT

Community banks have experienced three tumultuous years. As you move into 2011, consider any or all of the following as top initiatives for your financial institution:

Remember, capital is your most precious resource, and it is imperative to determine if the capital devoted to support various lines of business is or will be capable of supporting a sufficient ROE.
Have a firm understanding of the financial risks facing your financial institution such as interest rate and credit risk.
Understand customer retention statistics and measure the retention against an internal benchmark to determine if changes to service or products are warranted.
Determine a methodology to assess if each product line is meeting ROE goals. Profitability can be changed either by collecting what you are entitled to or changing pricing to meet ROE objectives.
Have the right people doing the right things.
Is diversification appropriate for both credit and funding sources?
Challenge the effectiveness and economic viability of your branch system.

Health Care Trends and Issues for 2011

Mon, 10 Jan 2011 00:00:00 GMT

At the beginning of each year the Wipfli Health Care Practice provides its overview of major trends and issues that lie ahead. Such an effort has been made increasingly difficult this year as a result of the recent mid-term elections when the Republicans gained control of the House and picked up enough seats in the Senate to require bipartisanship to move any significant piece of legislation. Many were concerned about continuing gridlock, and yet by the end of the year, the President and the Congress delivered unprecedented legislative output for a lame-duck session. However, major lingering questions remain for the coming year. In this article, Davis Fansler offers his perspective on the year ahead.

Is ‘Cloud Computing’ or ‘Hosting’ an Option for Your Organization? - Recorded Webinar

Mon, 10 Jan 2011 00:00:00 GMT

For companies looking at options to organize their information technology (IT) infrastructure, cloud computing or hosting your applications can be a consideration.

Cloud computing - what does it really mean? Cloud computing and Software as a Service (SaaS) is a delivery model for deployment and distribution of software services that is seeing steady growth. IT buyers are strengthening their purchasing and sourcing departments to better evaluate hosted offerings. In addition, new criteria for evaluation and selection are gradually phasing out traditional criteria.

In this ‘Hosting 101’ webinar, you will learn about hosting environments and cloud computing. We will define what it all means, benefits of moving to a hosted environment, product solutions that can move to a hosted environment, and the best time to move to a hosted solution.

Year-end Planning: The Good to Know and The Need to Know - Recorded Webinar

Mon, 03 Jan 2011 00:00:00 GMT

Year-end planning can be a daunting task. Income taxes, payroll and employee taxes… it’s enough to make your head spin.

2010 year-end tax planning for small- to medium-sized businesses involves consideration of tax laws going into effect in 2011 as much as it involves tax provisions effective this year. During this webinar, attendees will learn some important, last-minute, tax-planning reminders, strategies, and options to consider for maximizing income while minimizing stress.

Covered With Life of Loan Coverage?

Sat, 01 Jan 2011 00:00:00 GMT

Flood compliance is an ever-present hot button for regulators. Many
financial institutions feel the easiest requirement to follow is its
monitoring component. This is the responsibility of the vendor that
provides the life of loan coverage. The responsibility of the financial
institution is only to verify that it is included in the contract with the
third party and verify the determination is not older than seven years.
Simple, right? Not exactly.

Seven Credit Union Issues to Address in 2011

Sat, 01 Jan 2011 00:00:00 GMT

Community credit unions have experienced three tumultuous years.
As you look forward to 2011, consider any or all of the following as
top initiatives for your financial institution.

Cancellation of Debt and Form 1099-C Reporting Requirements

Sat, 01 Jan 2011 00:00:00 GMT

The current economic downturn has lead to an increase in the
number of charge-offs, foreclosures, and cancellations of debt. After
a debt has been cancelled, a financial institution must determine
whether Form 1099-C, Cancellation of Debt, should be filed. This is
not always an easy question to answer.

The Future of Lease Accounting and Revenue Recognition - Recorded Webinar

Tue, 21 Dec 2010 00:00:00 GMT

Accounting rules are continually changing, and two of the proposed accounting changes on the horizon will significantly affect the accounting by construction and real estate organizations. The Financial Accounting Standards Board (FASB) has proposed two new accounting standards updates titled Leases and Revenue from Contracts with Customers. During this webinar, participants will gain an understanding of how these proposed changes might affect your financial statements so you can begin planning for the impact the rules would have on your organization and the way you conduct business.

Sage Nonprofit Solutions Newsletter - 4th Quarter 2010

Fri, 17 Dec 2010 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

To Close or Not to Close
Year End Tips and Resources
What's New in Version 10.2?

QlikView Product Roadmap

Fri, 10 Dec 2010 00:00:00 GMT

The ongoing explosion of computing power is once again reshaping the enterprise software market. Technologies and trends that began life only a few years ago are now reaching mainstream adoption. At QlikTech, we see three dominant trends guiding the evolution of business intelligence (BI) software: the consumer enterprise, life after laptop, and freedom from operating system (OS) constraints. We are tailoring our product strategy to match.

In this QlikView Technology White Paper, we examine these forces and describe how QlikTech is harmonizing our product strategy to position QlikView as the industry standard for business analysis. Our intended audience includes business and IT decision makers who are considering QlikView.

Uncovering the Unrecorded: Finding Hidden Assets in Divorce

Thu, 09 Dec 2010 00:00:00 GMT

Distrust and suspicion are two emotions that commonly preside over many marriage settlement cases. So when it comes to these cases, it’s no surprise financial issues can quickly become one of the most contentious matters in marriage settlement proceedings.

Annual Coding Updates Webinar

Tue, 07 Dec 2010 00:00:00 GMT

Once again, it is time for medical practices to prepare for annual coding and reimbursement changes and their effect on the group's overall revenue and compliance. To assist with these efforts, this webinar provides a preview of:

New, revised, and deleted CPT code changes for 2011
Medicare Part B fee schedule information (Resource-Based Relative Value Scale (RBRVS)
Any other significant changes proposed by CMS for 2011

In addition to an overview of CPT changes by specialty, you will learn the latest information regarding the 2011 Medicare Part B Provider Fee Schedule. You will also hear the latest information as reported directly from CPT® and RBRVS 2011 Annual Symposium in Chicago, IL.

Patient-Centered Medical Home: A Foundation of True Health Reform

Thu, 02 Dec 2010 00:00:00 GMT

This year’s unprecedented health care reform legislation, particularly the Patient Protection and Affordable Care Act, requires health care providers to evaluate their current delivery model and assess how to increase quality and patient satisfaction while reducing costs. The patient-centered medical home (PCMH) is a delivery model gaining a lot of attention and currently being piloted across the country. The PCMH is not new, but providers and payers have only recently begun to seriously consider it because of its inclusion in the reform legislation. Although measurable delivery efficiencies and increased quality have been identified with PCMHs, appropriate funding from payers has not been designed. This article discusses the history of PCMHs, selected common obstacles associated to be resolved, and ways groups have overcome them with measurable results.

Preparing for Your Next Exam

Wed, 27 Oct 2010 00:00:00 GMT

Regulatory examinations are a fact of life in the banking industry. While no one really enjoys them, there are ways to manage the examination process to make it go smoothly. This article will walk through some of the measures a bank should take to set the stage for success.

The Importance of Leadership - Credit Unions

Wed, 27 Oct 2010 00:00:00 GMT

During this economic downturn, core assumptions in the financial services marketplace have come into question and the extraordinary uncertainty continues to dominate headlines. Such headlines have
largely targeted financial errors that spurred the recession and have contemplated what needs to change to ensure such errors are not repeated. The focus has been less on what has been accomplished with occasional mention of just how important leadership and management are to the continued success of any institution. These indeed are not ordinary times and few predicted the current economic environment. External factors have certainly played a role in present challenges, but they are not the sole cause. We cannot
simply wait for asset quality to magically improve and/or earnings to return. Sustainable strategies for long-term profitable growth with leadership that ensures execution remain the key determinants.

The Importance of Leadership - Banks

Wed, 27 Oct 2010 00:00:00 GMT

Real Estate Industry Trends: How CRM Technology Is Making a Difference - Recorded Webinar

Tue, 12 Oct 2010 00:00:00 GMT

As real estate organizations work to rebound from a tough economy, the need for a single interface to help effectively manage assets, leases, tenants, vendors and sales, and improve communication on the status of property developments is heightened. During this webinar, discover how real estate developers and property managers can move from silos of data, spreadsheets, databases, and random e-mails to having integrated, accessible information across your entire organization.

Poised for Change: A Look at Reform, the New Generation of Physicians, and Implications for Hospital Sustainability

Sat, 02 Oct 2010 00:00:00 GMT

Change is an inevitable part of every industry’s life cycle. How organizations choose to respond is ultimately up to them. Those organizations that are most able to adapt and respond to change efficiently and effectively are best poised for success.

Health care reform will likely bring about several major changes to the health care system. Some of these changes include the number of future insured individuals, physician/hospital reimbursement, physician/hospital integration, and changes in primary care in light of technological advances. These specific changes will have a significant impact on health care organizations across the country. Therefore a more careful understanding of how these changes will impact hospitals and how they can prepare for change is necessary as pressure continues to grow.

Proposed Lease Accounting Changes Could Be Significant to Manufacturers

Thu, 30 Sep 2010 00:00:00 GMT

On August 18, 2010, the Financial Accounting Standards Board (FASB) issued an exposure draft of a new accounting standard relating to lease accounting. As currently written, the exposure draft would have a profound impact on the financial statements of manufacturing companies that utilize lease arrangements. Read this article to learn why there is a need to change lease accounting, highlights of the proposed new standards, and recommended next steps.

Small Business Jobs Act of 2010 Provides Significant Benefits to Taxpayers Claiming Research Credits

Mon, 27 Sep 2010 00:00:00 GMT

The Small Business Jobs Act of 2010 (the “Act”) was signed by the President on September 27, 2010. The Act provides a number of significant benefits to small and mid-sized businesses. Companies need to start planning now to take full advantage of two of the provisions that have a significant impact on the benefit of the research and development (R&D) tax credit.

Easy Tips to Capture Revenue for All Services Provided and Understand Coding Trends

Wed, 22 Sep 2010 00:00:00 GMT

With the onset of Health Care Reform and threats of lowered reimbursement with increased regulation, provider groups need to be certain that services are coded correctly and all charges are captured. The age-old saying of “document what you do and bill for what you document” still holds true, but in these turbulent times, it can be easier said than done. There are constant coding and regulatory changes, roll-outs of electronic health records (EHRs), and increased productivity standards that could make the documentation and coding piece fall to the wayside at the end of a busy day, even though it’s critical for obtaining accurate reimbursement. There are several key steps that are fairly straightforward and easy to execute that can assist in accurate coding and optimal reimbursement.

Concrete Terms September 2010

Wed, 15 Sep 2010 00:00:00 GMT

Double charging and hidden costs: What contractors hope you won’t find in their contracts.

Concrete Terms was created to give busy construction and real estate attorneys quick and practical information they can use to serve their clients better.

In this issue of Concrete Terms: Vague contract terms and language that gives too much financial control to contractors can potentially add significant costs to an owner’s project. Learn a few ways to help an owner even the playing field.

Responding to the Opportunities Presented by Health Care Reform Legislation

Tue, 31 Aug 2010 00:00:00 GMT

In the past months, much has been written and discussed regarding health care reform and the impact it will have on providers. In every organization, there are questions regarding what reform means for the future. As is natural, many organizations have sought out specific details on the changes coming from reform.

In focusing on specific details, many organizations are missing the big picture. Reform does bring about changes, but for providers, the opportunities and challenges are not a radical departure from the path the industry has been traveling. If anything, reform provides a push or added urgency to the strategies many have been pursuing.

Sage Nonprofit Solutions Newsletter - 3rd Quarter 2010

Mon, 30 Aug 2010 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

Just Set It and Forget It
5 Budgeting Tips for Nonprofits
Nonprofit Tech Tools

Paving the Road to the Future - Facility Master Planning for Healthcare Organizations

Fri, 27 Aug 2010 00:00:00 GMT

Many professionals at health care organizations across the country have never undertaken a major construction project in their careers. However, as many health care facilities begin to approach the age of obsolescence, an increasing number are being forced into planning major construction projects with capital budgets in the multiple millions of dollars. For those with little experience in planning major construction projects, the task can be both daunting and confusing.

A facility master plan can help organizations by ensuring they are constantly pointed toward the future and making facility investments that will reap both short- and long-term benefits. The following is a look at the key phases of the master planning process.

Purchase Price Analysis: A Vital Step in Real Estate Acquisitions

Wed, 18 Aug 2010 00:00:00 GMT

Purchasing an existing property in today’s economy can be a good buy. But bargain properties require careful analysis. A so-called deal can quickly be undermined by potential tax implications. By conducting a thorough purchase price analysis, assets can be properly classified for tax purposes, benefiting the taxpayer with deferred taxes and improved cash flow. This paper provides key insights that can help ensure a purchase price analysis delivers value and withstands IRS scrutiny.

Health Care Reform Legislation Webinar Series: Implications for Physician-Hospital Relationships

Wed, 11 Aug 2010 01:00:00 GMT

Discuss why the reform legislation is accelerating the push for hospitals and physicians to become more aligned with patient BENEFIT as the key driver. Understand the typical components of the “compact.” Provide a case study of an organization that successfully transformed itself using the compact as the means and an exceptional patient experience as the ends.

Part four of four of an interactive webinar series on the hleath care reform legislation.

Do Smart Gadgets Equal Smart Efficiencies?

Tue, 03 Aug 2010 00:00:00 GMT

The use of mobile devices such as PDAs and smartphones has unquestionably revolutionized the way real estate professionals conduct business. Handheld devices save countless hours of work by providing in-the-field access to all the same types of information that before could only be accessed back at the main office.

While technology has indeed transformed the real estate industry, and mostly for the better; organizational connectivity is the critical factor that’s still missing in many real estate companies to ensure maximum productivity.

To remain competitive, today’s real estate organizations must ensure that information is shared more effectively. The critical step for many is taking individual communications and connecting that information across the organization to more effectively leverage resources, reduce redundancies, and relate the information to the people, projects, and properties that are impacted.

Physician Compensation: Key Design Principles for the Independent, Health System-Sponsored, and Faculty Plan Platforms

Thu, 29 Jul 2010 00:00:00 GMT

While there have long been varying views on the extent to which physician compensation drives desired behaviors, most agree the design of any compensation plan is an important ingredient in motivating and sustaining strong physician performance in any organization that employs physicians. This article will first explore the overarching design principles and characteristics that should be connected to any compensation plan. Then it will provide some specific design principles and components related to the three primary employment platforms for physicians—independent medical practices, hospital or health system-sponsored arrangements, and faculty plans.

Health Care Reform Legislation Webinar Series: Implications for Operations - Recorded Webinar

Wed, 28 Jul 2010 00:00:00 GMT

As a provider of health care services, have you thought through the operational implications of the new health reform legislation? Do you know if your current operating model will enable you to be successful into the future? Where should your time and effort be devoted to assure continued success with meeting the needs of the patients and communities served? How do you develop a quality-driven, “lower cost” model for care delivery? This session will focus on the practical implications of the new legislation.

Part two of four of an interactive webinar series on the health care reform legislation.

2016 Year-End Tax Planning

Tue, 01 Nov 2016 00:00:00 GMT

It’s that time of the year when tax savvy banks start identifying year-end tax-saving opportunities. Few tax law changes are expected in 2016, making this year the first time in several years that taxpayers can project their tax outcome with some confidence. Combining traditional strategies and “extender” provisions enacted in December 2015 should make year-end tax planning somewhat less complicated this year.

Home Health Care Has Had a Busy Year

Mon, 24 Oct 2016 00:00:00 GMT

Home health care has had a busy year. There was an increase in audits with Medicare’s focus on retaining its monies, wanting to provide education, and changing the way we assess our clients. Really, it is not as bad as it sounds. We just need to adjust. That being said, change is never easy.

Continue reading to learn about four major changes that home health care agencies encountered this past year and tips to overcome these challenges.

Recorded Webinar: Impact of the FLSA Overtime Rule Changes–Are You Ready?

Thu, 13 Oct 2016 00:00:00 GMT

Changes to the Fair Labor Standards Act overtime regulations will take effect on December 1, 2016. It is estimated that four million workers will be in jobs that are now eligible for overtime pay. Organizations across all industries need to consider how these rule changes will impact employee FLSA classifications, wages, and overtime pay to be ready for the rule changes’ implementation date.

Business Intelligence for CPSI EMR

Wed, 05 Oct 2016 00:00:00 GMT

If your CAH is like most, you have many disparate systems collecting vast amounts of financial, clinical, and operational information on a daily basis. Collecting and converting this data into useable information can be daunting, yet the decisions you make require both confidence in and synthesis of data.

In this webinar, we will offer answers to the following questions for users of CPSI EMRs:

How do CAHs efficiently and easily make sense out of all the “data” I have today?
How is a BI tool different than the reports I have on my EMR?
What other alternatives are there to running report after report from my EMR and then manipulating it in excel?
How could I possibly afford a business intelligence tool and why do I need one given the millions I have already spent on my EMR?
Where do I start in terms of evaluating options for better business intelligence?

This webinar recording will show you how to access the data within your CPSI EMR that will give you the power to understand billions of records in seconds—resulting in improved financial performance.

Watch this webinar recording presented by health care experts Kelly Arduino, Daryl Duenkel, and Nate Hallquist as they help you gain a better understanding of the power of Wipfli's CPSI Health Care Intelligence program.

Business Intelligence for McKesson EMR

Wed, 05 Oct 2016 00:00:00 GMT

How do CAHs efficiently and easily make sense out of all the “data” I have today?
How is a BI tool different than the reports I have on my EMR?
What other alternatives are there to running report after report from my EMR and then manipulating it in excel?
How could I possibly afford a business intelligence tool and why do I need one given the millions I have already spent on my EMR?
Where do I start in terms of evaluating options for better business intelligence?

This webinar recording will show you how to access the data within your McKesson EMR that will give you the power to understand billions of records in seconds—resulting in improved financial performance.

Watch this webinar recording presented by health care experts Kelly Arduino, Daryl Duenkel, and Nate Hallquist as they help you gain a better understanding of the power of Wipfli's McKesson Health Care Intelligence program.

Cybersecurity Threats, Trends, and Strategies for SMBs - Recorded Webinar

Tue, 27 Sep 2016 00:00:00 GMT

This webinar was recorded on September 27, 2016.

Small and medium sized businesses have become attractive and profitable targets for cyber criminals. New technologies have changed how we run our businesses and service our customers. As a result, many organizations face new and advanced threats to the confidentiality and availability of your critical data. You can't protect your digital information unless you know what you are up against. Cyber crime has evolved to more targeted attacks leading to account takeover, financial scams, point-of-sale attacks, and even extortion.

This webinar covers some of the most common cyber threats, what you can do to prevent becoming a victim, and how to respond if your data has been compromised.

Going Global: Opportunities and Challenges - Recorded Webinar

Mon, 19 Sep 2016 00:00:00 GMT

As companies seek to improve margins and gain market share, they often look for customers outside of the United States. Over 300,000 U.S. companies export goods or services, and of those, 98% are companies with fewer than 500 employees. With today’s resources, it is easier than ever for a company to sell goods and services overseas, and those who don’t face increasing commercial pressure.

In this webinar we will help you understand the opportunities and challenges your company may face as it considers overseas expansion, including:

Expanding overseas: Starting the conversation
General objectives and considerations for structuring
Tax-efficient business model structures
Business, banking, tax, and accounting considerations

Measuring Credit Impairment of Financial Instruments

Thu, 01 Sep 2016 00:00:00 GMT

In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Measurement of Credit Losses on Financial Instruments. This standard replaces existing financial asset impairment models with two new models—one for financial assets measured at amortized cost, such as loans held for investment and debt securities held to maturity (the CECL model), and one for debt securities classified as available for sale.

The Next Generation: Emerging Leaders

Thu, 01 Sep 2016 00:00:00 GMT

Jack Welch, Former CEO of General Electric, once said, “If we don’t get the people thing right, we lose. It’s the most important thing in all of our businesses.” Ultimately, people, the right people, are your competitive differentiator and advantage. So, what are you doing to develop your emerging leaders and strengthen your business?

Privacy Notice—Decoded

Thu, 01 Sep 2016 00:00:00 GMT

Your financial institution’s privacy practices aren’t supposed to be a secret. But trying to complete this notice properly and ensure compliance with Regulation P and the Fair Credit Reporting Act (FCRA) can sometimes make you feel like a secret agent trying to decode the regulation and the act to correctly describe your privacy practices. Throughout the years, Wipfli has continued to receive many questions about this. It’s important for you to identify exactly what information you share, with whom you share it, how the entity you share it with uses the information, and whether there is a contractual agreement in place between the parties that specifies how it can be used.

Money Market Reform 2016

Thu, 01 Sep 2016 00:00:00 GMT

In July 2014, the U.S. Securities and Exchange Commission (SEC) issued new rules to enhance the stability and resilience of money market funds. These rules, which are to be implemented by October 2016, place tighter restrictions on portfolio holdings, enhance liquidity and credit quality requirements, and provide for greater transparency. Furthermore, the rules allow all money market funds, during times of extreme volatility, to temporarily prevent investors from making withdrawals or to impose fees for investors who redeem shares.

Unclaimed Property—A Few Best Practices

Thu, 01 Sep 2016 00:00:00 GMT

Financial institutions are aware of and have been consistently reporting certain unclaimed property for some time since this industry, among others, has historically been subject to compliance enforcement in many states. The following considerations take into account sometimes overlooked issues specifically relevant to the financial institutions industry.

What Ever Happened to That SAR?

Thu, 01 Sep 2016 00:00:00 GMT

In the last three years, nearly 2,400,000 Suspicious Activity Reports (SARs) have been filed by depository institutions in the U.S. A question we are frequently asked by our clients is, “What happens to those SARs?” Or more specifically, “What happens to the SARs I file on behalf of my institution?” You may think that the reports you file to report criminal financial activity end up in a cyber cloud, never to be read or heard from again, but that is not the case. It may surprise you to know that every SAR you file, regardless of amount or activity, will be read by human eyes. That task may seem daunting to you, but it is not to the over one hundred SAR review teams across the country. Each federal judicial district is represented by at least one team. The teams consist of members from federal, state, and local levels of law enforcement. The review teams are diverse and may include members of homeland security and the FBI as well as representatives from states’ attorneys offices and high-ranking members of local law enforcement agencies who proactively review SARs for their respective geographic areas.

The New Fiduciary Rule: Friend or Foe? - Recorded Webinar

Thu, 25 Aug 2016 00:00:00 GMT

This webinar was recorded on August 25, 2016

It has swept headlines, sparked water-cooler conversations and ignited heated discussions in countless Congressional hearings. But what, exactly, does the Department of Labor (DOL)’s new fiduciary rule entail? And most importantly, how will it affect your business, your retirement plan and your employees?

Erika Young, CRPS^®, AIF^®, Director of Employer Plan Services at Wipfli Hewins Investment Advisors, answered these questions and more.

Historical background behind the legislation
How the rule is reshaping the industry, and what that means for your plan and your employees
The difference between the fiduciary and suitability standards of care
Best practices for benchmarking your plan and your current provider

Improve your financial reporting and analytics with Microsoft Power BI

Tue, 23 Aug 2016 00:00:00 GMT

Reporting within Microsoft Dynamics GP is often not robust or agile enough to meet the growing demand for insights within sophisticated finance and accounting departments. Many organizations struggling with getting accurate, up to date detailed information to make daily decisions have found success using Microsoft’s business intelligence solution, Power BI.

In this webinar, we demonstrate how Power BI can enable deeper and faster insights into the data behind key performance indicators (KPIs) within your data. You will see how to leverage Power BI to pull detailed financial data from Microsoft Dynamics GP and other sources to monitor KPIs and drill into the detail to discover why and where opportunities exist to improve performance.

Who should listen?

Any Microsoft Dynamics GP user, including those in finance and accounting roles, looking for ways to improve their financial reporting and analytics to drive improvement in their business.

How the Expansion of the Military Lending Act will Impact You - Recorded Webinar

Wed, 17 Aug 2016 00:00:00 GMT

If you offer consumer credit, you will likely be required to comply with the provisions of the Military Lending Act beginning October 3, 2016. While the John Warner National Defense Act Talent Amendment was limited to three specific loan types that many creditors decided not to offer in order to avoid the compliance challenges, the Military Lending Act expands the coverage to other loan types offered by most creditors. In addition, you shouldn’t forget the Servicemembers’ Civil Relief Act (SCRA), which also provides protections for service members and their families. These laws are highly scrutinized by regulators and should not be put on the back burner; let’s discuss their requirements and the impact on you.

Risk Management With an Enterprise (Wide) Focus - Recorded Webinar

Mon, 15 Aug 2016 00:00:00 GMT

Risk management is a constant challenge in today’s financial services industry. From credit risk and interest rate risk to compliance risk and reputation risk, a multitude of risks impact each institution. Furthermore, the risk landscape is rapidly changing (e.g., with new regulatory requirements and FinTech disruption), creating emerging strategic risks. The regulators are taking note, and the Comptroller of the Currency, for example, recently released its own enterprise risk management (ERM) risk statement.

ERM is a significant management discipline that provides the framework and tools to identify risks, integrate risk management controls, and monitor risk levels and trends in any size financial institution.

This webinar offers important concepts regarding a basic ERM framework, guidance on basic ERM management techniques, and important tips on successful ERM processes.

Effective Planning and Preparing for the Sale of Your Company - Recorded Webinar

Mon, 15 Aug 2016 00:00:00 GMT

It’s a fact that all business owners know: At some point you will either transition ownership or sell your business. But why should you start preparing your business for sale when it isn’t on the market yet? Everything you do to prepare your business for sale will help make it more successful for the next generation of owners or potential buyers. Effective planning and preparation can put you in a better position when the time to sell is right and can help ensure a positive impact on the outcome.

In 2016, merger and acquisition deal volume remains strong, interest rates have begun to rise, and financing remains readily available and affordable. How do today’s market conditions impact your business? What does this mean for you?

Gain valuable insights as we take a close-up look at the trends and opportunities in the merger and acquisition market and provide specific recommendations and best practices to follow as you prepare to sell your business.

Changes to the FLSA Overtime Regulations - Are You Ready?

Sun, 31 Jul 2016 00:00:00 GMT

The final rule changes to the Fair Labor Standards Act (FLSA) Overtime Regulations were published on May 23, 2016, and will become effective on December 1, 2016. It is anticipated that as many as 4.2 million workers across the country may now be eligible for overtime pay within the first year of implementation. The Department of Labor (DOL) estimates that employers will spend $592.7 million to prepare to comply with the new rule, which includes time spent becoming familiar with the current regulations and making adjustments to policies and procedures and the related managerial costs. The impact is significant and affects all industries.

Taxation of Software Downloads: Issues to Consider When Licensing a Solution

Mon, 25 Jul 2016 00:00:00 GMT

Too often the sales and use tax considerations of licensing software are overlooked when entering into the licensing agreement, only to find out years down the road that the transaction is under scrutiny in a state sales and use tax audit. In December 2014, we brought you the article, Sales Tax and Technology Solutions: Accepting the “Mission Impossible.” The article focused on 10 tips to consider up front that would help you navigate the complex sales tax world of technology solutions. This article will focus on the taxability of software that is accessed over the Internet.

Sales and Use Tax Automation–Crucial Tools for Accurate Reporting

Fri, 22 Jul 2016 00:00:00 GMT

With sales and use tax being a complex and ever-changing area, it’s crucial to have an effective and up-to-date record of your sales and use tax activity. Accounting software is widely used by small to medium-sized companies to track financial transactions, as well as additional data surrounding business operations. Most organizations utilize a software tool to capture, at a minimum, sales and procurement activities to enable reporting and performance analysis capabilities and to maintain documentation in support of potential audits. Understanding your accounting software and/or ERP system and identifying both strengths and weaknesses are essential to creating an effective sales tax process for your company. In this article, we’ll take a look at some commonly used systems and items to consider as you design or maintain your sales tax process.

Why Company Credit Cards Can Become a Sales Tax Audit Nightmare

Fri, 22 Jul 2016 00:00:00 GMT

The use of company credit and procurement cards is standard practice in many businesses and industries. The cards have numerous benefits, but they are not without their challenges. Savvy business and financial people understand how these instruments of convenience can turn into nightmares if not properly controlled, and they control authorized users and purchases, credit limits, and reimbursement procedures. Are these controls necessary? Absolutely!

That said, in this issue, we would like to bring to your attention another potential problem that can arise from these useful tools: sales tax. That’s right, sales tax. We'll discuss why credit cards can become a sales tax audit nightmare (or at least a bad dream) and what should be done about it.

Surviving a Sales Tax Audit of Your Cash-Based Business

Fri, 22 Jul 2016 00:00:00 GMT

More often than not, states are using their data warehouses to identify audit candidates. Techniques like comparing gross receipts levels for both income tax and sales tax reporting or comparing your taxable sales percentage to other filers for your NAICS code are becoming standard.

What can you do to minimize your audit risk or be better prepared in the event you are selected?

Impact of the FLSA Overtime Rule Changes–Are You Ready? - Recorded Webinar

Mon, 18 Jul 2016 00:00:00 GMT

Changes to the Fair Labor Standards Act overtime regulations will take effect on December 1, 2016. It is estimated that four million workers will now be in jobs that are eligible for time-and-a-half overtime pay. Manufacturing companies need to consider how these rules will impact employee wages and overtime pay now to be ready for the rule changes’ implementation date.

This webinar addressed:

Overview of exemption requirements
Compensation requirements for exempt salaried employees
Overtime pay requirements for newly non-exempt employees
Impact of indexing minimum salary threshold every three years
How bonus/commission pay can impact salary level requirements
The critical communications you must have with your employees now

This webinar was designed for business owners and management, plant managers and supervisors, and human resource managers or professionals.

Microsoft Dynamics® CRM 2016 & CRM 2016 Spring Release

Thu, 14 Jul 2016 00:00:00 GMT

View this on-demand webinar to learn more about what’s included in Microsoft’s new releases (CRM 2016 and CRM 2016 Spring Release) to receive an in-depth look at the exciting new features and enhancements.

In this webinar, we cover:

Demonstration of what’s new with the Microsoft Dynamics CRM^® 2016 Spring Release (subject to change prior to release):
- Field service and scheduling
- Project service
- Improved portal integration
- PowerBI enhancements
- App-to-app deep linking
- Mobility enhancements
- Guided navigation capabilities
- Voice of the Customer capabilities
- Microsoft Word and Excel template enhancements
- Social engagement enhancements
Insights from Wipfli and other companies using CRM:
- How to better leverage CRM
- Visibility into Microsoft’s technology roadmap

Who should view this webinar:

Businesses that want to get more value from Dynamics^® CRM or that are considering Dynamics^® CRM, including:

Executives and leaders who want their company to sell better and to wow their customers
CRM business users in sales, marketing, and customer service
IT leaders who administer and manage CRM

Risk Management Governance Across an Entire Organization─Been Doing it for Years!

Tue, 12 Jul 2016 00:00:00 GMT

By nature, the banking industry is a risk management business, specifically taking a risk in lending funds, investing in bonds, or utilizing customer deposits, shareholder capital, or market borrowings. The risk management process becomes more complicated based on numerous factors such as the complexity of the institution or the volume, velocity, and value of transactions. Risk management techniques have been discussed, identified, and utilized for centuries, but as the financial system has evolved, new issues and concerns have emerged.

This informative thought leadership paper takes a deep dive into the enterprise risk management (ERM) process and outlines key steps for a successful ERM program.

Defend Trade Secrets Act of 2015-Damages Computations via the Patent Litigation Blueprint

Fri, 08 Jul 2016 00:00:00 GMT

The Defend Trade Secrets Act of 2015 (DTSA) was enacted on May 11, 2016, through signature by President Obama. The DTSA amends the federal Economic Espionage Act of 1996 to create, for the first time, a federal civil remedy for the misappropriation of trade secrets.

Prior to the DTSA, most trade secrets claims in the United States were litigated in individual state courts under the Uniform Trade Secrets Act (UTSA).

Much has been written about the DTSA by a variety of participants in the legal space. Most of these writings address nuances of the new law as compared to the UTSA.

This article explores how damages are determined under the UTSA and how this may change as trade secret cases are heard in the Federal Circuit. Specifically, we consider how the Federal Circuit may address financial damages for trade secret cases based on its historical treatment of patent litigation matters.

Crowdfunding for Capital? Know the Rules.

Tue, 05 Jul 2016 00:00:00 GMT

Consider the traditional approach to securing business financing: Armed with your valuable idea, a sound business plan, and some marketing research, you strive to get an audience with some wealthy investors, perhaps angel funds, a venture capital firm, and a few investment banks. You spend a great deal of time and effort pitching to this very limited pool of capital investors, with uncertain success.

Now consider a current popular approach called crowdfunding: You pitch your valuable idea and supporting business plan and research out into the world via social platforms and media.

Crowdfunding is a method of raising capital through the collective effort of friends, family, customers, individual investors, even complete strangers. The method taps into expansive pools of potential investors primarily through social media and other crowdfunding platforms, letting business owners, in essence, make their pitch to the world.

Occupational Fraud: Still a Growth Industry in 2016

Tue, 05 Jul 2016 00:00:00 GMT

Occupational fraud is an equal opportunity offender, occurring in any organization regardless of size or industry. Sometimes referred to as workplace fraud or asset theft, occupational fraud is more properly defined as “the use of one’s occupation for personal gain through the deliberate misuse or theft of the employing organization’s resources or assets."

In simplest terms, it’s the full range of willful employee misconduct through which a business loses money. How much money? The most recent estimates from the 2016 Association of Certified Fraud Examiners’ Report to the Nations are staggering. The total loss caused by the cases in its study exceeded $6.3 billion. The median loss for all cases in the study was $150,000, with almost a quarter of cases reporting losses of $1 million or more.

Revenue Recognition Update

Tue, 05 Jul 2016 00:00:00 GMT

In May 2014, the Financial Accounting Standards Board (FASB) finalized Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. As you likely know, this is a broad, principles-based standard for recognizing revenue from contracts that will supersede numerous revenue recognition requirements for particular industries or transactions. In addition, this standard generally converges revenue recognition standards for accounting principles generally accepted in the United States (GAAP) with International Financial Reporting Standards (IFRS).

Since the revenue recognition standard was finalized, the FASB has issued some additional standards (ASU Nos. 2016-08, 2016-10, and 2016-12) that clarify certain concepts.

New Accounting Standards Update: Simplifying the Transition to the Equity Method

Tue, 05 Jul 2016 00:00:00 GMT

The Financial Accounting Standards Board (FASB) continued its efforts to simplify accounting requirements while maintaining or improving information for financial statement users. To this end, it recently issued ASU 2016-07, Investments – Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting. Before diving into the substance of this new ASU, it’s important to identify the transactions and arrangements impacted by equity method treatment, namely, corporate joint ventures.

Accounting for Contract Incentives

Fri, 01 Jul 2016 00:00:00 GMT

An institution enters into a number of long-term contracts for services and software, including the core processing system and debit and credit card payment systems. To obtain these contracts, vendors may provide various incentives such as an upfront payment to the institution or reduced or no payments for a certain period of time. This article will discuss factors and principles an institution should consider to properly account for contract incentives.

Are You Balancing Employee Trust With Smart Internal Controls?

Fri, 01 Jul 2016 00:00:00 GMT

At home, our almost two-year-old daughter is into everything. It seems as though each day we learn of a new way our home is not “toddler proofed.” Luckily for us, there are child locks on cabinets and dead bolts on outside doors that prevent her from accessing the other side. Without these controls, she would be able to enter the pantry and eat goldfish until she was sick or run outside unattended, and she would be causing herself some pain and her parents a headache. She has to rely on a second person (mom or dad) to open the door and go out with her. She may find these controls a little irritating now (or a lot depending on the daily mood), but she will one day realize they were there for her protection.

Assessment and Execution of Strategy—Keys to Strategic Success!

Fri, 01 Jul 2016 00:00:00 GMT

When contemplating the challenges of assessing strategy and then executing it, I vividly recall a recent bank board meeting I attended in a consultant capacity. While facilitating the board through dialogue regarding needed infrastructure changes pending a potential acquisition, outside board members seemed relatively complacent about the challenges ahead. Part of the challenge was navigating resistance to change and, most importantly, critical cultural change to succeed with the strategic plan that management was developing. The board was comprised of some talented, experienced outside board members as well as shareholder legacy members. As we outlined the changes management acknowledged needed to be implemented, I asked each board member to share the most significant changes to the bank governance role they had witnessed during their tenure on the board. I was nothing short of incredulous when a legacy board member paused, considered thoughtfully, and replied, “I can’t think of any changes, really.” This particular board member had served on the board for multiple decades. Professionally speaking, I am glad that reply is not the norm. Across the country, boards are becoming increasingly vigilant in their oversight of strategic direction and holding the CEO accountable for implementation and effective execution of such.

Beneficial Ownership Rule Is Finalized—Finally!

Fri, 01 Jul 2016 00:00:00 GMT

After four long years in the making, the Financial Crimes Enforcement Network (FinCEN) finalized the Customer Due Diligence Beneficial Ownership rule on May 11, 2016, with the mandatory compliance date set as May 11, 2018. The arduous process included an Advance Notice of Proposed Rulemaking issued in February 2012 and a Notice of Proposed Rulemaking issued in August 2014. Both provided opportunities for commentary. The release of this long-delayed rule may have been motivated in part by the recent disclosure of the “Panama Papers,” which outed a host of wealthy individuals, including celebrities and well-known public officials, who used offshore shell companies to conceal their assets. The Panama Papers brought to light that the United States has become a popular tax haven for money launderers hoping to evade taxes or hide income from other illicit activities.

Secondary Market Quality Control—Have You Been Flying Under the Radar?

Fri, 01 Jul 2016 00:00:00 GMT

Secondary market investors and quality control (QC)—will it ever get easier? As I shake my Magic 8 Ball for an answer, I get the response, “Don’t count on it.”

Did the Requirements Within Regulation AA Go Away With Its Repeal?

Fri, 01 Jul 2016 00:00:00 GMT

On March 21, 2016, the Federal Reserve Board’s (the Board’s) repeal of Regulation AA (Unfair or Deceptive Acts or Practices) became effective. Since the announcement of the repeal, we have been receiving questions regarding what happened to the requirements that were within the regulation. More specifically, financial institutions want to know whether they can discontinue providing a Notice to Cosigner and whether they are now allowed to take a security interest in household goods.

Will the Upcoming Changes to Member Business Lending Affect You?

Fri, 01 Jul 2016 00:00:00 GMT

Over the past decade, credit unions have experienced an increase in member business lending due to the demand of their small business members. In 2004, only 19% of all credit unions offered member business lending. However, by September 2015, 36% of all credit unions offered member business lending. Due to the increase in demand and as part of the Regulatory Modernization Initiative, the NCUA amended the member business loan rule (Part 723) during the first quarter of 2016, effective January 1, 2017. This is the first significant amendment to the rule since 2003.

Mergers and Acquisitions—Basic Tax Considerations for Taxable Asset and Stock Sales

Fri, 01 Jul 2016 00:00:00 GMT

Mergers and acquisitions of financial institutions increased steadily throughout 2014 and 2015, and it looks like the trend is continuing into 2016. An increasingly complex regulatory environment, the retirement of baby boomers, changing technology, and improvements in the overall economy have contributed to this trend. Whether your bank is considering an acquisition or a sale, there are some basic tax consequences that should be considered.

How to Prepare for the Ensuing IRS Enforcement Staffing Increase

Thu, 30 Jun 2016 00:00:00 GMT

According to a memo from IRS Commissioner John Koskinen, the IRS will hire 600 to 700 new employees to focus on tax enforcement in the near future. This represents the IRS’s first large-scale hiring in recent memory. The IRS views this as a prudent investment, as Mr. Koskinen noted that each employee returns “almost $10” to the U.S. Treasury for every dollar spent. Assuming 700 employees are hired at a cost of $50,000 per employee, the move would yield a potential profit of over $300 million dollars.

With increased staffing levels comes increased scrutiny of gift and estate tax returns. It is likely that additional employees will allow more of these returns to be reviewed, resulting in more audits and challenges. It’s interesting to note that formal business valuations are not always specifically required for gifting or estate tax return preparation; they are often required to meet the IRS’s adequate disclosure regulations. In addition, a quality valuation can proactively reduce the likelihood of future disputes.

New Fiduciary Rule for Retirement Plans: What You Need to Know - Recorded Webinar

Mon, 20 Jun 2016 00:00:00 GMT

Erika Young, CRPS^®, AIF^®, Director of Employer Plan Services at Wipfli Hewins Investment Advisors, addresses these questions in this informative webinar. You'll also learn:

How the rule is reshaping the industry, and what that means for your plan and your employees
The difference between the fiduciary and suitability standards of care
Best practices for benchmarking your plan and your current advisor

This webinar is designed for business owners, presidents, CEO’s, CFO’s and controllers.

Unclaimed Property: What Are My Organization’s Responsibilities?

Thu, 16 Jun 2016 00:00:00 GMT

Are you familiar with unclaimed or abandoned property? How is your organization currently handling its obligations with respect to accounting for, tracking, and ultimately reporting and remitting these funds to the appropriate state government for safekeeping?

Unclaimed property refers to accounts (i.e., intangible financial assets) and, in certain cases, tangible personal property held by financial institutions and business associations as liabilities on their books that have had no activity generated by or association contact with the owner for one or more years.

The Health Care Industry: Current State and Future Potential

Wed, 15 Jun 2016 00:00:00 GMT

Over the past few months, I have attended numerous health care industry conferences where CEOs and CFOs were asked to share their insight on the current state of health care and where they see the potential for this industry in the near future. Although many of the themes were similar, I was able to take away the following eight concepts, some of which may surprise you.

The Business Associate's Path to SOC 2 + HITRUST CSF Certification

Mon, 13 Jun 2016 00:00:00 GMT

Many business associates are finding themselves at a crossroads. Their health care clients are asking them to adopt the new Health Information Trust (HITRUST) Common Security Framework (CSF) and demonstrate compliance through the HITRUST Assurance Program, yet they are already on the path of SOC 2 reporting. Or they may need to start the journey toward both destinations to satisfy the varied clients they serve. It’s a challenge that brings many questions and associated costs.

This whitepaper presents the key measures and corresponding activities business associates can expect to encounter along the path to HITRUST CSF certification. In addition, for those organizations taking the path to both CSF and SOC 2, this paper offers key recommendations for converging efforts, weighing decisions, and creating efficiencies along the way.

Six Tips for a Cost-Effective Financial Due Diligence Process

Thu, 09 Jun 2016 00:00:00 GMT

Increasingly, hospitals are joining together to more competitively meet the ongoing challenges and opportunities of providing quality health care. Yet not all acquisitions or affiliations will create positive outcomes for the combined organizations or bring presumed benefits to each. Even if no money changes hands in a transaction, there can be quite costly consequences. Risks could outweigh the benefits.

TAX ALERT: ACA Reminders for 501(c) (3) Hospital Facilities with June 30th Fiscal Year Ends

Wed, 08 Jun 2016 00:00:00 GMT

The Affordable Care Act (ACA) added new requirements that hospital organizations must satisfy in order to be described in section 501(c) (3). On December 29, 2014, the IRS released its final 501(r) regulations (the “Final Regulations”) for tax-exempt hospital organizations which apply to a hospital facility’s taxable years beginning after December 29, 2015. Failure to meet these requirements may result in revocation of the hospital’s 501(c) (3) tax-exempt status; as well as a $50,000 excise tax for failure to comply with community health needs assessment (CHNA) requirements.

In the attached article are a few time sensitive reminders for hospital organizations with June 30th fiscal year-ends.

What Is Your Bank Really Worth?

Tue, 31 May 2016 00:00:00 GMT

With the struggles of the Great Recession largely in the rearview mirror, the banking industry has repositioned itself for growth profitability. According to the Q4 2015 quarterly Banking Profile released by the FDIC, improved earnings have been a widespread trend, with more than half of all federally insured banks reporting year-over-year quarterly earnings growth and 57% of community banks reporting improved earnings.

With a stabilizing balance sheet and technology driving recent changes in the banking industry, how do you value your bank? There are things you can control within the bank, such as efficiency and use of technology, and there are things you cannot control, such as the economy and how the market is pricing banks.

HR Chat: Time Off with Pay - Recorded Webinar

Wed, 25 May 2016 00:00:00 GMT

This webinar was recorded on May 25, 2016.

“To PTO or not to PTO” – that is the question! During this webinar, we look at the myriad of alternatives that are out there for providing time off with pay to employees, and what your peers are doing. Most importantly, WHY are you doing what you are doing? PTO, vacation, holidays, sick time, personal days, anniversary date vs. calendar year administration, carryovers and maximums – let’s get detailed!

During this webinar we:

Increase your understanding of the intent and purpose of PTO Plans
Compare and contrast PTO with traditional time off plans
Review thoughts and ideas for best practices

New Wisconsin Sales Tax Exemption for Certain Exempt Entity Qualified Construction Projects (Effective date of legislation: January 1, 2016)

Thu, 19 May 2016 00:00:00 GMT

Section 77.54(9m), Wis. Stats. (2013-14), as created by 2015 Wis. Act 126, provides an exemption from sales and use tax for property sold to a construction contractor who, in fulfillment of a real property construction activity, transfers the property to a qualifying exempt entity if the property becomes part of a facility in Wisconsin that is owned by the qualifying exempt entity. In order for the exemption to apply, the three criteria must be met.

An Influence Strategy for Changing Patient Behavior

Tue, 17 May 2016 00:00:00 GMT

Patients' failure to follow physician recommendations is a well-documented link to poorer outcomes and higher health care costs, but strategies to address the problem remain elusive. Just telling a patient what to do may not yield the health outcomes we target. Achieving and maintaining a healthy population require an entire influence strategy. Influence involves:

Understanding long-term, deeply entrenched strategies.
Understanding an individual’s knowledge/skill base and personal motivation.
Enlisting skill building as a major component of the strategy.
Interlocking behaviors with the entire social support network around the patient.
Changing minds, hearts, and eventually actions.

Continue reading for five ways you can assist your patients in changing behavior.

What's Your Company Worth? An Introduction to Advanced Planning for Business Owners

Mon, 16 May 2016 00:00:00 GMT

A co-authored blog post with Anthony Perillo - Financial Advisor at Wipfli Hewins Investment Advisors.

Paul and Anthony discuss the importance of knowing the value of your company, and how it is measured. They underscore how having a solid grasp on the value of your business allows for more efficient and proactive transfer planning.

Recent Law Changes Create Greater R&D Tax Credit Opportunities for Manufacturers - Recorded Webinar

Mon, 16 May 2016 00:00:00 GMT

For many manufacturers, the federal research and development (R&D) tax credit has been a valuable tax planning opportunity since it became part of the tax code in 1981. Providing a dollar-for-dollar reduction in tax liability, the tax credit allows manufacturers of all sizes to reduce their taxes and increase cash flow, yet it is still often overlooked.

Most manufacturers can qualify for R&D tax credits for things they do every day. And now, the PATH Act, enacted in December 2015, has made significant changes in the R&D credit arena and significantly increases the opportunity:

The R&D credit is now a permanent credit.
For taxpayers with average annual gross receipts of $50,000,000 or less for the prior three years, the R&D credit now offsets both the regular tax and the Alternative Minimum Tax (AMT).
Start-up companies may be eligible to offset payroll taxes with the R&D credit.

In addition, there have been many favorable changes to IRS regulations and court cases over the past few years that have expanded the definitions of R&D activities and have clarified documentation required to be maintained by companies that claim the credit.

This recorded webinar will help you gain a solid understanding of the R&D tax credit as well as the enhanced opportunities for your company to qualify.

Hospital-Physician Affiliations and Transactions: How Fair Market Value and Commercially Reasonable Standards Apply

Fri, 13 May 2016 00:00:00 GMT

Stark (I, II, and III)
Office of Inspector General False Claims/Anti-kickback provisions
Internal Revenue Service private inurement

So what do Fair Market Value and Commercially Reasonable mean in the context of physician/hospital transactions? Why should a hospital be concerned? And how can the hospital ensure transactions are set at Fair Market Value and be Commercially Reasonable? Continue reading to gain answers to these questions.

Health Savings Accounts: Employee Benefit Cost Savings?

Mon, 09 May 2016 00:00:00 GMT

Most businesses are looking for cost savings. Combine that with the recently enacted health care reforms, which could result in health benefits being even more costly for employers, and businesses have a great reason to revisit health savings accounts! Health savings accounts (HSAs) provide a cost-effective method for employers to provide health insurance while offering employees a tax-favorable way to fund future medical needs.

Wisconsin Sales Tax Alert: Expansion of Wisconsin Nonprofit Occasional Sales Rules

Thu, 05 May 2016 00:00:00 GMT

On April 15, 2016, Governor Scott Walker signed into law 2015 Wisconsin Act 364, which expands the sales tax exemption for nonprofit organizations that sell taxable goods or services. Act 364 amends Sec. 77.54(7m), Wis. Stats., and first applies to sales made in 2017.

The What, Why, and How of HITRUST - recorded webinar

Thu, 05 May 2016 00:00:00 GMT

This webinar was recorded on May 5, 2016.

Wipfli and Xtium team up to provide an informative and interactive discussion regarding the Health Information Trust Alliance (HITRUST) and the adoption of their Common Security Framework (CSF) to address HIPAA requirements. As HITRUST is one of the health care industry’s most adopted security frameworks, we will explore the evolution of the standard and discuss best practices for both covered entities and service providers.

During the webinar, we explore answers to the following questions:

What is the relationship between HIPAA and HITRUST?
How is HITRUST being used by covered entities to manage HIPAA security policies and procedures?
How does HITRUST compare to the AICPA’s more common SOC 2® and other frameworks?
How is HITRUST impacting the relationship between covered entities and service providers?
What is the future of HITRUST from the perspective of covered entities?
What are the pros and cons of HITRUST from a service providers’ perspective?
How are service providers prioritizing HITRUST certification among other vendor management issues?
Should service providers require certification of their service providers?
What best practices have service providers learned by going through the certification process?
What is the overall process like to achieve certification?
What are the common gaps identified in initial assessments?
What time and resources are required to achieve and maintain certification?

The Importance of Having Strong Financial Planning and Analysis

Mon, 02 May 2016 00:00:00 GMT

Looking for growth? Having a strong financial planning and analysis function is a key to success.

The role of a financial planning and analysis (FP&A) professional or function is to provide accurate, timely financial analysis and advice to the leaders of the organization. While that sounds broad and little
more than number crunching, the role brings much more value than that. In fact, lately FP&A has come to the fore as a strategic and relevant advantage to organizations, particularly given the great
speed at which companies move today and the complexity of the business environment.

Why You Should Think Like an Auditor

Mon, 02 May 2016 00:00:00 GMT

One of the most common questions asked in everyday conversations is, “What do you do for a living?” I respond with, “I am an auditor,” which typically elicits a verbal or nonverbal “Ugh!”

Maybe auditing isn’t for everyone, but auditors have a unique perspective that can benefit any manager. We tend to ask a lot of questions from an independent point of view to gain an understanding of an organization’s operations. While it may seem we dwell on the negatives and the “what could go wrongs,” we are usually following a process that helps us challenge the status quo to see whether something’s been missed or whether there might be a better way.

Here are some of the ways an auditor thinks that could help you better manage your organization (and maybe even your life).

Run Your Financial Statement General Ledger for You (Not Your CPA)

Mon, 02 May 2016 00:00:00 GMT

As a business owner, you know your business better than anyone; you live it and breathe it. So when it comes to creating a general ledger, you should be the one to determine your chart of accounts structure and protocols. After all, you are the authority on your business’s financial activities.

Unfortunately, far too often general ledgers (GL) are set up to make the processes of preparing year-end GAAP financial statements and filing income tax returns easier. Those are once-a-year activities, whereas running your business is an everyday activity. Organize your GL to give you better operational information, even if it complicates the year-end financial statement and tax return processes.

Your general ledger is, in many ways, a database. Like all databases, your GL will be only as useful as the data captured. Capturing irrelevant or low-value information will only add to the overall cost of getting the information you truly need. The key is to organize your GL in a way that turns data into information.

In this article, we discuss some things to consider about how to organize and use your GL.

Proposed Changes to the FLSA Overtime Regulations and the Actions Organizations Should Take

Sun, 01 May 2016 00:00:00 GMT

At the recent 2016 American Bar Association’s midwinter meeting, Solicitor of Labor Patricia Smith announced that the final amendments to the Fair Labor Standards Act’s (FLSA’s) so-called “white collar” exemptions will be published in July 2016. The Department of Labor (DOL) expects the regulations will become effective 60 days after publication and is committed to them being effective by the end of 2016.

Biometric Authentication: Will We Ever Get Rid of the Password?

Sun, 01 May 2016 00:00:00 GMT

One of the biggest challenges for financial institutions today is protecting access to customer information. How can you be sure the person logging into a customer’s Internet banking application is who they claim to be? Since the inception of authentication, we have almost exclusively relied on passwords for authentication. But the FFIEC’s Authentication in an Internet Banking Environment states that passwords, at least alone, are not good enough. The guidance introduces requirements for dual or multifactor authentication. While proving an added layer of security, the extra factors tend to be some other question or the use of a token. This becomes cumbersome for the user, struggling to remember yet another password and then maintaining possession of a token or having to either look up or log into yet another location (with another password) to obtain the answer to some out-of-wallet question. Now, thanks to some technology improvements and perhaps the necessity of a more convenient process, biometric authentication is beginning to see more widespread use.

FASB’s New Standard for Leases

Sun, 01 May 2016 00:00:00 GMT

In February 2016, the Financial Accounting Standards Board (FASB) finalized its new standard for leases. This project began around 2006 as a joint project with the International Accounting Standards Board (IASB) to create an accounting standard that provides a more faithful representation of leasing transactions in financial reports.

Fair Credit Reporting Act—Part Three—Revenge of the Reseller

Sun, 01 May 2016 00:00:00 GMT

It has been almost a year since my last Fair Credit Reporting Act (FCRA) article and I have a new FCRA issue to address that has been a big discussion topic within our compliance team. Many lenders contract with a third party to obtain a credit report from the big three; however, the preparation of the adverse action notice becomes challenging depending on what type of report is obtained.

First, let’s look at the FCRA basics. Section 615 of the act requires the lender to provide a notice of adverse action taken, and when information from a credit report was used in the decision process, the lender must provide details about the credit reporting agency (CRA). In addition, if a credit score was used in making the decision, the credit score and credit reporting agency must be disclosed.

Now that seems pretty simple: list the CRA used in making the decision. Well, not so fast.

Keep Calm and Give On!

Sun, 01 May 2016 00:00:00 GMT

Giving to charities is an inherent cost of doing business as an independent community financial institution. Aside from the satisfying feeling that comes from helping others, does the charitable giving align with the public relations strategy—does it engage your employees—does it have a measurable impact? Are you choosing the right charity, and is it a qualifying charity? Is it truly charitable giving or a community relations expense?

Preparing for Your Next Bank Secrecy Act Examination

Sun, 01 May 2016 00:00:00 GMT

Do you have a Bank Secrecy Act (BSA) examination looming? The best way to prepare is to test the elements that examiners will be looking at and correct any deficiencies prior to the time examiners show up on your doorstep. This article features a list of items to address in advance of the examination start date so you can take corrective actions before the examination commences.

Unique New Risk Management Insights?

Sun, 01 May 2016 00:00:00 GMT

No doubt, risk management techniques have been discussed, identified, and utilized for centuries, going back to initial barter techniques before the Roman Empire. Assigning a value, accepting something in return, and then trading for another item a person might need involved risk.

Over time, the financial system has evolved, and while many of the same risks remain, there are new issues and concerns. In turn, the financial services industry adapts and adjusts its risk management governance and controls.

Proposed Changes to the FLSA Overtime Regulations and the Actions Financial Institutions Should Take

Sun, 01 May 2016 00:00:00 GMT

Profit Improvement—It’s Not Rocket Science

Sun, 01 May 2016 00:00:00 GMT

Wipfli sends your financial institution the Financial and Operational Performance Analysis quarterly to help you understand the significant factors impacting profitability and what differentiates your financial institution’s performance from others in your state. The data is captured from your quarterly call report. If you do not receive this quarterly analysis and are interested in receiving it, please forward your email address to myself or your Wipfli contact and we will make sure we add you to the list.

The Financial and Operational Performance Analyses allow me to review the state averages to note significant trends, and I want to make you aware of a few of those trends from the December 31, 2015, reports and offer ideas for you to review so your financial institution can increase or at least maintain your current profitability.

Senior Housing: Trends and Opportunities Within the Fastest Growing Market

Wed, 27 Apr 2016 00:00:00 GMT

Given the large number of seniors facing future housing needs, it’s no surprise the senior housing sector is attracting lots of attention both from the investment world and from developers.

HR Chat: Retaining Good Employees - Recorded Webinar

Wed, 27 Apr 2016 00:00:00 GMT

This webinar was recorded on April 27, 2016

Getting good people to stay with you is critical. To do this, it’s important to focus on culture and management.This webinar will explored several ways to promote employee retention and introduce the concept of retention accountability.

During this webinar, we learned:

How to strengthen the link between retention and culture
Retention principles and strategies that work
The concept of "Stay Interviews" and how to do them

Creating a Donor-Centric Culture

Wed, 20 Apr 2016 00:00:00 GMT

The people you serve in your communities depend on you to be there. Having a strong donor-relation strategy improves the sustainability of your organization. How do you get everyone in your agency involved? How do you create an organizational culture that is obsessed with its donors? Get started with two steps.

Stop Fighting With Your Software - Recorded Webinar

Mon, 18 Apr 2016 00:00:00 GMT

Software should enable your people, not make them frustrated. It should enable your processes, not make them more complicated. Software should help your bottom line, not hinder it.

The next generation of ERP software is here! Today’s software is easier to use, easier to maintain, and easier to afford. It offers more value, more flexibility, and more options over your legacy systems. Today’s cloud-based solutions allow for access anytime, anywhere, and from any device. But how do you know if it’s time to make a change? Where do you start?

During this enlightening, thought-provoking webinar, we address:

How to start discovering your true business software needs.
Understanding your strategic technology path to aligning your needs with your long-term vision.
What a cloud-based ERP system looks like.
How to know if your current system is holding you back instead of moving you forward.

Loan Review Best Practices and Current Issues - Recorded Webinar

Thu, 14 Apr 2016 00:00:00 GMT

Loan portfolios are improving, and we are putting the financial crisis behind us as credit quality approaches pre-crisis levels. Loan growth is on most agendas, but there may be too many financial institutions pursuing a limited number of opportunities. In this environment, it is important to be razor focused on managing and monitoring portfolios to continue the recovery. Over the post-financial crisis years, our team has been helping banks to hone their credit practices, and we are ready to share the best of the best with you. We also challenge you with current regulatory and industry issues you should be addressing.

Top 10 Processes for a Compliant Chargemaster

Fri, 08 Apr 2016 00:00:00 GMT

The following article contains 10 important processes that are essential to maintaining a compliant CDM. Studies have shown that many hospitals, even those who routinely review their CDM, fail to implement necessary changes to maintain a compliant CDM, which is critical for payment accuracy. These 10 processes will help you be proactive in reducing the potential for CDM errors.

The New Microsoft Dynamics AX® - Recorded Webinar

Thu, 31 Mar 2016 00:00:00 GMT

Microsoft Dynamics AX^® enables people to make smarter decisions quickly with access to real-time insights and intelligence from nearly any device, anywhere. It allows businesses to transform by letting them redesign their business processes more quickly so they can innovate and get quick time to value in order to stay ahead of the competition. It also gives businesses the flexibility to grow at their own pace through the power of the cloud, allowing them to scale their operations globally to meet business needs.

Wipfli associates recently attended the Microsoft Dynamics AX® release conference and we are excited to share with you what we learned.

HR Chat: Compensating Employees - Recorded Webinar

Wed, 30 Mar 2016 00:00:00 GMT

This webinar was recorded on March 30 2016

Deciding what to pay an employee is an issue that almost every employer will struggle with at some time. In this webinar, we will address a few base pay compensation design issues, keys to a successful and supportable compensation philosophy, and the management accountability to consistently administer it.

During this webinar you will learn:

Keys to creating a compensation strategy
How to determine a relative market value for jobs
How to successfully communicate with employees about compensation

Getting Ready for DOL’s Proposed Changes to FLSA Overtime Rules

Tue, 29 Mar 2016 00:00:00 GMT

Can’t wait for summer? Neither can the Department of Labor (DOL)!

At the recent 2016 American Bar Association’s midwinter meeting, Solicitor of Labor Patricia Smith announced that the final amendments to the Fair Labor Standards Act’s (FLSA) so-called white-collar exemptions will be published in July 2016. The DOL expects the regulations will become effective 60 days after publication and is committed to them being effective by the end of 2016. That means we’re looking at a date as early as September 2016 and as late as December 2016 for the new regulations to be in effect.

The Business Associate's Path to HITRUST CSF Certification

Mon, 28 Mar 2016 00:00:00 GMT

The Health Information Trust (HITRUST) Alliance developed the Common Security Framework (CSF) in 2007 to give health care organizations a comprehensive set of baseline security controls. The initial development is now in version seven and has become the most widely adopted security framework in the U.S. health care industry.

The New Standard

An increasing number of health care organizations are now changing partner agreement language to require their vendors also to adopt the new HITRUST CSF Assurance Program and obtain certification.

As the program quickly becomes the new standard for streamlining third-party assurance, business associates choosing to adopt the framework and pursue certification must prepare for a two-year journey.

This whitepaper presents the key measures and corresponding activities business associates can expect to encounter along the path to HITRUST CSF certification.

Agricultural Finance Update – Credit Impacts of the Current Environment - Recorded Webinar

Mon, 21 Mar 2016 00:00:00 GMT

The current environment of agricultural economics is presenting special challenges involving agricultural finance. What lessons were worth learning from the 1980’s, and how can they be used to navigate through the current challenges? What is the impact of margin compression in the industry on the farm client and agricultural portfolio? This webinar discusses the latest trends in the industry and best practices for use in meeting the current challenges with your clients. We also address issues and opportunities with the respect to the administration of the portfolio.

Business Continuity Planning – Will you be prepared if disaster strikes? - Recorded Webinar

Mon, 21 Mar 2016 00:00:00 GMT

If disaster strikes, how long would it take to recover? Would your essential business functions continue to operate? How well is your company prepared?

Today’s manufacturing environment is fast paced, pressure filled, and production driven. Preparing for “what if” may not be on your radar as you go about day-to-day operations; perhaps you haven’t even had the time to give it any thought. If you do have a business continuity plan, how long has it been since you reviewed and tested it?

While disasters may not be preventable, their effects on your business operations can be mitigated. It’s critical to prepare for a disaster before it occurs. An effective business continuity plan can be the difference between resuming operations and closing your doors permanently.

During this webinar we discuss:

Developing a continuity framework
How to implement a successful business continuity plan
Strategies to mitigate risk
Business continuity encompassing much more than IT

Payroll Based Journal Webinar Recording

Wed, 16 Mar 2016 00:00:00 GMT

This webinar was recorded on March 15, 2016.

Over 50 questions were asked during this webinar. Click on the graphic above to open the FAQ document to view answers to the questions.

Mandatory Participation Begins in July. Are You Ready?

The Affordable Care Act (ACA) requires the Centers for Medicare & Medicaid Services (CMS) to begin collecting direct care staffing information from all nursing facilities, including agency staff and contract staff, in an auditable, uniform format. The ACA mandates the data include the following:

Category of work performed
Census data
Hours of care provided per resident per day
Resident case mix
Staff turnover and tenure information

To comply with the ACA requirements, CMS has developed the Payroll Based Journal (PBJ). To learn more about this requirement, visit the CMS site.

Thoroughly understanding this requirement and how you need to comply can be challenging. However, since mandatory participation begins in only a few short months, it is absolutely vital that you understand how this requirement impacts your facility and the steps you need to follow to be compliant.

Listen to this webinar presented by senior living experts Larry Lester and Patricia Boyer as they dive deep into this new ACA requirement and help you gain a better understanding of the specific data that needs to be entered into the journal.

Improve Your Ransomware Awareness and Defense

Tue, 15 Mar 2016 00:00:00 GMT

There’ve been a recent spate of ransomware attacks on organizations both small and midsized. One particularly high-profile case in February involved the Hollywood Presbyterian Medical Center in California. The “Locky” malware encrypted the hospital’s electronic medical records, thereby blocking access to patient information unless a ransom was paid. Ransomware is a very real threat to organizations of all sizes, and the threat continues to grow. By some reports, incidents increased 113% last year compared to the year before.

Orthopedic Bundles & Acute Care Providers

Thu, 10 Mar 2016 00:00:00 GMT

Hospitals in 67 geographic areas must participate in the federal Comprehensive Care for Joint Replacement (CCJR) bundled payment model for episodes that start on or after April 1, 2016. Although your acute-care facility may not be in this first wave of participation, there’s much your organization should be doing now to prepare for its inevitability. Continue reading to learn about some of the high-level activities that your organization should strongly consider undertaking now.

Orthopedic Bundles & Post Acute Care Providers

Thu, 10 Mar 2016 00:00:00 GMT

The Comprehensive Care for Joint Replacement (CCJR) bundled payment model goes into effect for hospitals in targeted geographic areas on April 1, but the stakes have just gotten higher for post-acute care providers everywhere. Hospitals will be seeking post-acute providers that can deliver on quality and cost-effectiveness, prove their performance with metrics, and proactively work toward continuous improvement. Continue reading to learn about some of the high-level activities you should strongly consider undertaking now.

Top 10 Pitfalls of Participating in the 340B Drug Pricing Program 2016

Mon, 07 Mar 2016 00:00:00 GMT

Given today’s declining reimbursement landscape, most health care organizations are engaging in additional cost-saving strategies. The federal 340B Drug Pricing Program is one such opportunity that is available to critical access hospitals (CAHs), disproportionate share hospitals (DSHs), and other eligible covered entities. Whether an entity already participates in the 340B program or is considering it, it’s important to understand the compliance risks and overall program challenges. Here are the top pitfalls to avoid to help ensure a well-run program.

403(b) vs. 401(k) Plan Differences: Choosing What’s Best for Your Organization

Mon, 07 Mar 2016 00:00:00 GMT

Offering an employer-sponsored retirement plan can be a great workplace benefit. Nonprofit health care organizations in particular have plan choices that for-profit corporations don’t, namely choosing either the 403(b) or 401(k) plan. Both plans allow employees to avoid current income taxation when contributions are made and to defer tax on accumulated earnings until withdrawn. And in both plans, employers may also make nonelective or matching contributions to employees’ accounts. Continue reading for more indepth definitions on both plans and their differences.

Simplification of Accounting Items – Top 10 Ways to Make Your Life Easier in 2016

Tue, 01 Mar 2016 00:00:00 GMT

You finally have the 2015 year closed, and your CPA firm has completed its annual audit and tax work. Now, how can you make 2016 a much more stress-free year? Check out our Top 10 list to make your 2016 run like a well-oiled machine.

Is It 1980 Again? Credit Impacts of the Current Agricultural Economic Environment

Tue, 01 Mar 2016 00:00:00 GMT

The agriculture industry has experienced vast changes in commodity prices over the past several years. The U.S. average farm price of corn increased from approximately $3.00 per bushel during the 2006-2007 marketing year to over $5.00 per bushel during the three marketing years from 2010-2011 through 2012-2013. During this period, the profitability of grain producers increased dramatically with consequential impact on the financial condition and spending patterns of farm operators throughout the Midwest. Balance sheets were strengthened as earnings and appreciating values increased liquidity, equity, and debt service coverage in the industry. As the income of grain farms increased, peaking at about $263,000 in 2012, production, land, capital expenditures (CAPEX), and living expenses increased during that time frame as well.

FASB’s New Standard for Financial Instruments

Tue, 01 Mar 2016 00:00:00 GMT

The Financial Accounting Standards Board (FASB) has finalized the first standard to emerge from its longstanding financial instruments project. This project began around 2005 as a joint project with the International Accounting Standards Board (IASB) to improve and achieve convergence of their respective standards on the accounting for financial instruments. Eventually, the project was divided into three separate financial instrument projects: classification and measurement, impairment, and hedging.

Five Ways to Win by Doing the “Main Thing”

Tue, 01 Mar 2016 00:00:00 GMT

The other day I was asked my opinion on what separates winners from losers in today’s banking environment. Without hesitation, I responded that the winners are focused on the “main thing.”

That “main thing” is something that was described to me back in 1994 by a manager of mine, and it is a trait that holds true today. “You see, our job as bankers is actually pretty simple,” my old mentor told me. “Our job is to make sure that we keep the ‘main thing’ the main thing.”

How Does the PATH Act Benefit Your Business Operations?

Tue, 01 Mar 2016 00:00:00 GMT

Congress did not let us down in 2015 by not passing a bill to extend over 50 tax provisions that expired on January 1, 2015. They just waited until December 18, 2015, to pass the tax bill. It left us with 13 days in 2015 to take advantage of the tax provisions. The Protecting Americans from Tax Hikes Act of 2015 (PATH Act) extended several provisions that expired on January 1, 2015, but instead of extending for just one year like Congress has done the past several years, they made some provisions permanent: some have five-year extensions and others have two-year extensions.

You may be wondering whether there are any provisions in the PATH Act that would benefit your operations and what you should do to take advantage of them. First, we will go over the provisions that will affect your financial institution.

What’s Next on the Horizon . . . Military Lending Act

Tue, 01 Mar 2016 00:00:00 GMT

You may feel you have a little time to catch your breath after implementing the new TRID Integrated Disclosure rules, but don’t take too long; the Military Lending Act (the “Act”) went into effect October 1, 2015, with required compliance by October 3, 2016. That leaves you approximately six months to make sure your procedures and systems are in place.

Is Your BSA/AML Training Program Adequate?

Tue, 01 Mar 2016 00:00:00 GMT

The Bank Secrecy Act is one of a few regulations with statutory training requirements. In addition to internal controls, independent testing, and the designation of a Bank Secrecy Act (BSA) officer, training is one of the four pillars of a financial institution’s BSA Program. Therefore, Bank Secrecy Act/Anti-Money Laundering (BSA/AML) training should be a priority when planning and implementing the annual training program. BSA/AML requirements cover a broad range of employees and departments, from new accounts personnel and tellers to operations employees and loan officers, all the way up to senior management and the board of directors. Consequently, training materials must provide a comprehensive overview and be tailored to each employee’s specific responsibilities. A “one-size-fits-all” approach is not sufficient.

To Accrue or Not to Accrue Distributions: That Is the Question

Tue, 01 Mar 2016 00:00:00 GMT

Entities that are organized as a pass-through entity (PTE), such as S corporations and limited liability companies, are generally not subject to federal or state income taxes. For most nontaxable entities, distributions are made to the owners to assist them in paying their tax liabilities. Consider a policy that guides the amount and timing of when distributions are accrued.

Need a Service Provider for Your Employee Benefit Plan? Proceed WithPrudence

Tue, 01 Mar 2016 00:00:00 GMT

Business owners are responsible for ensuring their retirement plans comply with federal law. To help carry out such responsibilities, owners often rely on service providers to assist in controlling, managing, and overseeing plans and their investments. When selecting service providers, Wipfli and the Employee Benefits Security Administration offer these helpful tips.

IT Examination Hot Topics – Cybersecurity - Recorded Webinar

Thu, 25 Feb 2016 00:00:00 GMT

You can’t have an effective cybersecurity strategy if you don’t know what you’re up against. This webinar addresses the latest threats to your customer information. We also bring you up to date on the latest FFIEC and other interagency guidance in regard to cybersecurity as it affects the roles and responsibilities within your financial institution. Resources are provided for enhancing your training program and the effectiveness of your cybersecurity program.

This webinar covered:

Cyber threat trends
Updated regulatory cybersecurity guidance
Cybersecurity resources

HR Chat: Getting Noticed in the Recruiting World - Recorded Webinar

Wed, 24 Feb 2016 00:00:00 GMT

This webinar was recorded on February 24, 2016

It’s time to make your recruiting efforts stand out from the crowd! In this session we looked at various recruiting platforms in social media and ways to use technology to market your small business. Indeed.com, LinkedIn, Facebook, YouTube, what will work best for you?

During this webinar, we:

Define recruitment marketing
Learn to write ads that define success, not just skills
Hear tips on creating a recruitment strategy to help source scarce candidates

State Tax Filings – Important Year-End Tax Review Tips

Tue, 23 Feb 2016 00:00:00 GMT

Since most companies have a calendar year-end, they are probably working to gather information to prepare their income tax returns. As this information is being gathered, it might be a good idea to analyze the data for its accuracy and whether other issues may be created by the information. Here are some best practices companies employ to reduce exposure and identify opportunities for state and local tax savings.

Are You Monitoring Your Advertising Purchases for Proper Taxability?

Tue, 23 Feb 2016 00:00:00 GMT

How closely do you monitor your advertising-related purchases for compliance with state sales and use tax laws? Advertising-related purchases are facing increased scrutiny during sales and use tax audit examinations. How confident are you that your advertising company is properly charging you sales tax on the items you purchase from it? Where might you have potential use tax exposure issues? Are you missing potential sales tax exemptions and overpaying sales tax on certain exempt purchases from your advertising vendor?

Excise Taxes – What Are You Missing?

Tue, 23 Feb 2016 00:00:00 GMT

Periodically, I refer to certain taxes as poor orphan step children. By that, I mean they are the taxes that aren’t talked about, researched, measured, or evaluated. Our clients ask us to help them reduce their income tax, property tax, and sales tax burden, but few ask us whether there are means to ensure they pay the appropriate amounts of excise tax, no more or no less than what is required.

Anyone who deals with excise taxes knows that they are every bit as complex as their income, sales, and property tax counterparts. They come with differing rates, bases, exemptions, reporting requirements, and administrative procedures. Some industries have them imposed, while others do not. Some purchases may be subject to excise tax, while a great many others may not. These taxes may be imposed at the federal or state level or both.

Because of their complexity, taxpayers often have a less than perfect understanding of their responsibilities and their opportunities. In this article, we look at the excise tax on fuels and provide some background on the issues your company may wish to consider.

Sales and Use Tax Return Filings: Understanding and Avoiding the Impact of Negligence Penalties

Tue, 23 Feb 2016 00:00:00 GMT

To encourage on-time filing and payment of sales and use taxes, states impose negligence penalties on any sales and use tax returns filed or paid late. The penalty amount can vary greatly from state to state and can be quite costly, with the penalty rate ranging from 1% to 30% of the tax due. For example, Minnesota imposes a penalty of 5% of the tax due on a return filed late, while Wisconsin imposes a penalty of 5% per month of the amount due up to 25% plus a $20 late filing fee. These penalties can add up quickly and can be very costly for a business.

The Power of ‘Stay Interviews’ as a Retention Strategy for Today’s Manufacturer - Recorded Webinar

Mon, 15 Feb 2016 00:00:00 GMT

It’s no secret that finding and keeping good employees in manufacturing is tough these days. Yet hiring employees is just a start to creating a strong work force. Next, you have to keep them.

While manufacturing employees tend to be hard-working and loyal, keeping those employees content and engaged with your company should be of paramount importance in this time of talent shortages.

Today’s production-driven and pressure-filled manufacturing environment can easily leave employees feeling overworked, undervalued and not appreciated. Taking steps to foster a positive work environment in your organization can encourage retention and also serve as a valuable benefit when recruiting employees.

One of the most powerful tools to improve employee retention is the “stay” interview. These structured conversations between manager/supervisor and their direct reports can be used to determine what it is that keeps employees there and more importantly what may result in their leaving.

During this webinar we address:

What does turnover REALLY cost?
Foundational retention principles
The concept and essential ingredients of stay interviews
How to implement an effective stay interview process in your organization
Integrating stay interviews with exit and employee surveys

Top Three Strategies for Rural Health Care Success

Thu, 11 Feb 2016 00:00:00 GMT

Health care providers must navigate a myriad of issues in order to be successful in the future. Rural health care providers have some unique challenges (staffing, financial resources, clinical expertise, provider shortages, etc.) and also have a few advantages over their non-rural counterparts (access to special rural health care grant funding, cost-based reimbursement options, etc.). Although there are many strategies rural health leaders should engage, continue reading to learn about three that should be part of any rural health care provider’s roadmap to success.

Telemedicine – A Cost-Effective Alternative to Improve Patient Access

Tue, 02 Feb 2016 00:00:00 GMT

Health care services have traditionally been conducted through face-to-face exchange of information between provider and patient, but advanced technology has changed how, when, and where patient care can be delivered. For example, many patients prefer to communicate with their provider online, patient portals allow patients immediate access to their medical information, and providers can collaborate about patients via telemedicine, which has become a cost-effective alternative to face-to-face patient services.

The term “telemedicine” refers to the remote diagnosis and treatment of patients by means of telecommunications technology. For Medicare payment to occur, interactive audio and video telecommunications must be used, permitting real-time communication between the distant site physician/practitioner and the Medicare beneficiary. Commercial payers are beginning to follow Medicare payment guidelines and are also creating innovative ways of paying for health care services outside the scope of a traditional face-to-face encounter. You will need to review your payer contracts for the specific payment policies related to telehealth services.

Continue reading to learn about all of the steps that are necessary in order for Medicare to cover telemedicine.

How to Get Value from Your Audit Relationship

Wed, 27 Jan 2016 00:00:00 GMT

Do you feel like the annual financial statement audit for your health care organization is a costly exercise that adds little or no value to the performance of your organization? If you do, you may be in need of audit process improvements. This article is designed to help ensure the dollars you spend with your audit firm both add value and ultimately make your organization better. To do so, we are going to “debunk” several commonly held misconceptions about audits and auditors.

Continue reading to learn about nine misconceptions regarding audits and auditors. See if you've come across any of these in your role.

Six Key Points About the Orthopedic Bundled Payments Initiative

Tue, 26 Jan 2016 00:00:00 GMT

The Centers for Medicare & Medicaid Services (CMS) and the federal government are working hard to ensure current and future Americans have access to high-quality health care and those same Americans don’t go to the “poor house” because of the current unsustainable health care system. Two critical challenges are the financial burden health care places on preretirement Americans and our predicted inability to provide health care for seniors after 2030.

The Medicare Part A Trust Fund (which pays for inpatient hospital, skilled nursing facility (SNF), hospice, and home health agency (HHA) services) is expected to become insolvent in 2030. This is unchanged from 2014 predictions but slightly better than insolvency predictions in 2011-2013.

In addition to the predicted Medicare program insolvency, health care places a huge burden on the average American during their working years. According to CMS, the average American spent $9,600 on health care in 2014, up significantly from $7,700 in 2007. Health care spending is expected to exceed $10,000 per person in 2016 and reach $14,900 in 2023. This is an important deterrent to U.S. economic growth.

The Comprehensive Care for Joint Replacement model (a.k.a. “orthopedic bundled payments”) being rolled out by the Center for Medicare and Medicaid Innovation is designed to determine if bundling payments for orthopedic services will reduce Medicare expenditures while preserving or enhancing the quality of care for Medicare beneficiaries. CMS expects this initiative to result in savings to the Medicare program of $343 million over the five performance years of the model.

Hospitals, physicians, SNFs, and HHAs need to understand the orthopedic bundled payments initiative. In this four-part article series, we will cover key aspects of the orthopedic bundled payments initiative in greater detail.

Continue reading article #1 to learn about six key points related to the orthopedic bundled payment initiative.

The Nuts and Bolts of Medicare Orthopedic Bundled Payment Initiatives

Tue, 26 Jan 2016 00:00:00 GMT

The orthopedic bundled payment initiatives begin in less than two months. Some providers are working hard to prepare for this new payment reform while others are hardly aware of its existence.

Our first article, published on February 2, 2016, included six key points related to the orthopedic bundled payment initiative. In this article we will explore the “nuts and bolts” of this Medicare initiative.

What providers, conditions, and services will be impacted.
The time frame for patient episodes, as well as Medicare measurement of outcomes, payments, and settle-up reconciliation.
The financial and quality metrics that will be used to determine payments.
Why providers that are not in the affected geographic areas should still pay attention.

Continue reading article #2 as we dive deeper into each of these areas.

Insider Threats: Are You Ignoring the Human Risk in Your Information Security Program?

Thu, 21 Jan 2016 00:00:00 GMT

The thought of a data breach often brings images of Hollywood-style hackers or lost laptops. Most would never think of a trusted coworker as a malicious perpetrator of a data breach. To the contrary, data breaches often can be and are “inside jobs” committed by employees with authorized access to protected health information (PHI).

Here are eight preventive measures in addition to compliance that will help deter and reduce insider threats.

M&A Market Trends and Opportunities - Why You Should Consider Being a Buyer - Recorded Webinar

Tue, 19 Jan 2016 00:00:00 GMT

Merger and acquisition deal volume and value have remained strong in 2015. While interest rates have begun to rise, financing remains readily available and affordable. What does this mean for you and for 2016?

Gain valuable insights as we take a close-up look at the trends and opportunities in the merger and acquisition market and the various financing sources available for growth capital.

This recorded webinar addresses:

An overall M&A market update
Purchase price multiple trends for various-sized companies and how they have changed through 2014 and 2015
Value opportunities
Financing trends and forecasted impact from rising interest rates
Actions a company can take to increase the probability of a better transaction outcome

2016 Medicare Payment Systems Changes: Understanding the Impact Webinar – PART II

Tue, 19 Jan 2016 00:00:00 GMT

This webinar was recorded on January 19, 2016.

Centers for Medicare & Medicaid Services (CMS) recently issued the final rules that update payment policies and payment rates for services furnished under the Medicare Physician Fee Schedule (PFS), the Hospital Outpatient Prospective Payment System (OPPS), and Ambulatory Surgical Center (ASC) Payment System.

This webinar provides you with an overview of Medicare’s final rules and changes for physician services most affected by the 2016 changes. We will also include highlights of the final 2016 Inpatient Prospective Payment System (IPPS) rule which updates Medicare payment policies and rates for inpatient stays at general acute care and long-term care hospitals for FY 2016.

Among other important payment and regulatory policy updates, our panel of Wipfli health care practice experts will help you make sense of new regulations by discussing the following:

Physician fee schedule, OPPS, and ASC payment updates
Primary care and chronic care management changes
Medicare billing changes for Rural Health Clinics
Changes to global services and access to telehealth services
Items and services to be “packaged” or included in payment for a primary service
Off campus provider-based departments
Payment-related changes and coding updates including comprehensive ambulatory payment classifications (C-APCs)

Overview of the two-midnight rule, critical access hospital 96-hour physician certification, and requirements for coverage of Part A inpatient hospital claims

2016 Medicare Payment Systems Changes: Understanding the Impact Webinar – PART I

Thu, 14 Jan 2016 00:00:00 GMT

This webinar was recorded on January 12, 2016.

This webinar provides you with an overview of Medicare’s final rules and changes for hospitals and rural health providers. It also includes highlights of the final 2016 Inpatient Prospective Payment System (IPPS) rule which updates Medicare payment policies and rates for inpatient stays at general acute care and long-term care hospitals for FY 2016.

Among other important payment and regulatory policy updates, our panel of Wipfli health care practice experts will help you make sense of new regulations by discussing the following:

Physician fee schedule, OPPS, and ASC payment updates
Primary care and chronic care management changes
Medicare billing changes for Rural Health Clinics
Changes to global services and access to telehealth services
Items and services to be “packaged” or included in payment for a primary service
Off campus provider-based departments
Payment-related changes and coding updates including comprehensive ambulatory payment classifications (C-APCs)
Overview of the two-midnight rule, critical access hospital 96-hour physician certification, and requirements for coverage of Part A inpatient hospital claims

SOC 2 Reporting and HITRUST CSF: Leveraging the Best Path to Assurance

Thu, 14 Jan 2016 00:00:00 GMT

Business associates can agree that providing assurances of the protection of systems and data is the right thing to do. Now some of the biggest names in health care have begun to require that their business associates adopt the new HITRUST Common Security Framework (CSF) Assurance Program.

Becoming HITRUST certified can certainly be a potential differentiator. But many business associates who’ve undergone a SOC 2 audit wonder whether that isn’t already enough to provide the assurances health care organizations are now requesting.

The reason it is not enough lies in the big difference between the two services. SOC 2 is a reporting framework, while the HITRUST CSF is a control framework.

The good news is that there are synergies between SOC 2 TSPs and the underlying criteria and HITRUST CSF controls. By combining and leveraging the HITRUST CSF controls in SOC 2 engagements, business associates can realize time efficiencies and cost savings. In fact, HITRUST and AICPA have collaborated to develop and publish a set of recommendations to streamline and simplify that process.

Top Ten Tips for Coder-Physician Collaboration

Mon, 11 Jan 2016 00:00:00 GMT

The devil is in the details for effective coding, but the real answer to improving compliance and increasing revenues lies in communication and relationships. Although these areas are challenging to tackle, they are essential elements in improving the total patient experience and are critical to demonstrating high-quality care at lower costs. We’ve found the most significant improvements come from:

Breaking down the barriers between the clinical/business staff and the front and back ends of the revenue process.
Engaging the physicians and soliciting their leadership throughout the process.
Educating physicians, clinical support personnel, and coding staff about their roles and partnering with one another.
Introducing the revenue integrity “conversation” into the day-to-day business of the practice.

In our experience, unbalanced and poorly defined roles and responsibilities among physicians, clinical support staff, and coding staff create repetitive problems. By addressing the issues in this article, you will experience the most immediate and substantive impact.

Health Care Trends and Issues for 2016

Mon, 11 Jan 2016 00:00:00 GMT

2016 is sure to be exciting, as the pressure to cut costs will bring about newly emerging reimbursement methods, technological advances, and more efficient and value-driven health care service delivery. While change can be exciting, it can also create anxiety, especially among smaller rural and independent hospital organizations. These organizations are often less able to withstand the continued pressure on costs and less able to deploy the capital necessary to keep up with advances in technology and other more enduring changes in the health care landscape. In these uncertain times, it is more important than ever to remain focused on core business fundamentals.

Prepare for greater price transparency and the potential price competition in some markets by understanding the organization’s cost structures.
Focus on understanding and excelling in core service lines, and explore new ambulatory/retail-focused service lines as a way to enhance the revenue streams available to the organization. Ensure that the organization has the right complement of clinical and non-clinical staff to drive these emerging shifts in health care delivery.
Allow the reimbursement landscape to evolve before deploying significant resources into changing the health care delivery model.
Cautiously evaluate new and emerging technology and its usefulness to the organization and its patients.
Explore opportunities to collaborate with larger regional tertiary referral partners. Strategic partnerships can be formed in many ways. Partnerships should be developed around the organization’s strategy and structured around the specific needs of its respective organizations.

Technology, Analytics, and Investment

Regardless of which alternative reimbursement methodology ultimately prevails, one thing has become clear in the health care industry: in order to drive down costs, the technology and analytical capabilities of organizations must be enhanced.

Consolidation Continues

For rural and independent hospitals, it will be important to collaborate with regional tertiary referral partners on telemedicine and other initiatives. This will allow for better scalability of technology and ensure more seamless care transitions for patients who want to receive care locally.

Summary

2016 promises to usher in its share of challenges and opportunities, stemming from emerging trends in the health care industry. Arguably, the most daunting task for health care leaders in 2016 will be accurately anticipating the veritable “shelf life” of these emerging trends.

Success will be defined not only by the ability to predict and respond to the more enduring changes in our industry, but also by the ability to exercise restraint in the face of trends that while fashionable may ultimately prove short-lived.

New Lease Accounting Rules

Mon, 04 Jan 2016 00:00:00 GMT

Recently, the Financial Accounting Standards Board (FASB) voted to begin the process of issuing new lease accounting rules that, starting in 2020 for calendar year-end private companies, will require all long-term leases to be capitalized. Gone are the old FAS 13 rules that required capitalization of only certain "capital" leases. Under these new rules, all leases will be treated as capital leases with a right-of-use (ROU) asset being recorded and amortized and a corresponding discounted lease obligation being recorded as well.

GAAP Is Getting Easier

Mon, 04 Jan 2016 00:00:00 GMT

The accounting and finance worlds seem to become more complex every day, whether that complexity is generated by government or industry standard setters, new products, or new markets. To combat this ever-increasing complexity, the Financial Accounting Standards Board (FASB), established the Private Company Council (PCC) in 2012.

The PCC was created to amend and simplify areas of accounting principles generally accepted in the United States (GAAP) that are considered challenging for private companies and that provide little value to readers of private company financial statements. These amendments are commonly called PCC alternatives.

The simplification of GAAP through PCC alternatives achieves two primary purposes. First, it makes GAAP much easier to understand for the readers of private company financial statements.

Second, the FASB recognizes that the value of this information to private companies is outweighed by the cost of implementing the rules. A necessary byproduct of the simplification is cost savings because less time is spent to understand and implement the rules, whether by private company staff or external accountants.

Document Retention: What’s Your Policy?

Mon, 04 Jan 2016 00:00:00 GMT

A common question businesses face is how long their records should be retained. Many businesses have not developed document retention policies, have outdated policies, or simply do not follow their existing policies. A record retention policy provides guidance for how long organizations are to possess various types of business documents including corporate, accounting, taxation, human resources, payroll, insurance, legal, and other types of records.

The following explains why a standardized approach to document retention is important. It also lists the sources of regulations that govern record retention and offers guidelines for developing and implementing a document retention policy.

To Disclose or Not to Disclose – Applying the concept of materiality to financial statement disclosures

Mon, 04 Jan 2016 00:00:00 GMT

As company owners and managers consider what information warrants additional disclosure in their financial statements, there is little guidance available. Applying the concept of materiality requires judgment, and it’s often why the concept of materiality is thought of quantitatively. However, it is also important to consider the qualitative aspects.

Currently, the Financial Accounting Standards Board (FASB) does not define what information should be considered material when an organization prepares its financial statements. Instead, materiality is generally a legal concept, often defined through court decisions. The U.S. Supreme Court’s description of materiality is a “substantial likelihood” that omitting the information would be viewed by a reasonable investor or creditor as having “significantly altered” the total information available to make a decision.

Attention Vendors: Five Reasons to Start Your Path to HITRUST Certification Now

Fri, 01 Jan 2016 00:00:00 GMT

Health care vendors and business associates that are required to protect health information should have heard the news by now: HITRUST CSF Assurance is the new standard for streamlining the third-party assurance process.

The move stems from HITRUST’s ongoing mission to address inefficiencies and inconsistencies in third-party assurance, an objective and journey that first began in 2007. Now, across the country, partner agreement language is quickly being changed to specify the requirement for the new assurance and certification program.

The new certification attempts to remedy the challenges both health care organizations and business associates face in monitoring and assuring security requirements. In essence, in introducing a standardized compliance process that’s confirmed by a qualified HITRUST assessor, the goal is to unify and simplify the assurances both sides need and can support.

Here are five big reasons now is the best time to start moving toward the new CSF program.

Changing Culture

Fri, 01 Jan 2016 00:00:00 GMT

As community banking continues to find its way back from the turbulent years of the financial crisis, optimism about the future is returning. History has proven time and again that remarkable changes emerge from times of adversity. For some financial institutions, there is a renewed interest and pursuit of mergers and acquisitions; for others, change means finding innovative ways to grow in order to meet the needs of clients, regulators, and other key stakeholders, including employees. Whatever the direction, future success is about change, and success will largely depend on the ability to change culture. So why do leaders seem to pay more attention to developing strategy and less attention to changing culture? The problem is many leaders think they know the culture of their financial institution, but may not know how to change it.

Diagnosing the Fair Lending Health of Your HMDA-LAR

Fri, 01 Jan 2016 00:00:00 GMT

The New Year brings about all kinds of resolutions, whether they are to read more books or to start that cooking class that has been put off. But the most common resolutions typically involve health. Gym membership numbers explode this time of year as people try to create a habit of working out in an attempt to improve their well-being and shed those extra pounds.

This article discusses starting the New Year with a resolution involving health as well, except this resolution involves the fair lending health of your Home Mortgage Disclosure Act Loan Application Register (HMDA-LAR). There are several simple tests you can integrate into your quarterly HMDA process to help gauge the fair lending health of your HMDA-LAR and identify potential issues before they become problematic.

Meals and Entertainment Deductions

Fri, 01 Jan 2016 00:00:00 GMT

Are you making the most of your meals and entertainment deductions? Whether you look at the 50 percent meals and entertainment limitation as the glass being half full or half empty, it is important to remember that the glass can be full as well! There are several exceptions that allow you to deduct 100 percent of certain meals and entertainment (M&E) expenses.

New Guidance for Public Business Entities

Fri, 01 Jan 2016 00:00:00 GMT

In December 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-12, Definition of a Public Business Entity. This standard created a single definition for a “public entity” to be used for future standard setting. Prior to this standard, public entities were defined differently for different accounting standards.

New Year’s Resolutions for 2016

Fri, 01 Jan 2016 00:00:00 GMT

They say the older you get, the faster time passes. So it was with 2015. It just seemed like yesterday I was writing this article for the 2015 January edition of our newsletter with my ankle in a cast and a lot of supporting hardware inside. At this time I am happy to say, I am no longer in a cast, there are a few less screws in my ankle, and the intense physical therapy is behind me. I can, however, predict the weather (if only I could predict interest rate changes as easily).

The Dynamics of a Well-Written Suspicious Activity Report Narrative

Fri, 01 Jan 2016 00:00:00 GMT

A system providing for proper Suspicious Activity Report (SAR) completion and timely filing is an indicator of a strong Bank Secrecy Act (BSA) program that incorporates policies, procedures, and processes to properly monitor for suspicious activity. Just as important as the data input in Parts I-IV of the SAR is, so too is the written completion of Part V: Suspicious Activity Information—Narrative. SAR narratives are useful in describing information about specific activity for possible law enforcement investigation. In addition, the Financial Crimes Enforcement Network (FinCEN) utilizes BSA data in its analytical tools to provide law enforcement, regulatory agencies, and the financial services industry important information and guidance on broader regional and systemic threats and trends. Clearly written narratives have helped identify mortgage fraud, identity theft, and terrorist financing schemes at the institution level, as well as reflect how pervasive illicit behavior has become industry-wide. A sufficiently written narrative should, therefore, be a focus of a BSA program’s suspicious activity monitoring.

Risk-Based Capital Rule for Credit Unions

Fri, 01 Jan 2016 00:00:00 GMT

In October, the National Credit Union Administration (NCUA) issued its final regulation regarding prompt corrective action. Effective January 1, 2019, this rule creates a new risk-based capital requirement for all federally insured, natural-person credit unions defined as “complex.” “Complex” credit unions are defined under the rule as having total assets exceeding $100 million, thus credit unions with assets of $100 million or less will not be subject to the new capital requirements.

Loan Workouts, Nonaccrual Policy, and Regulatory Reporting of Troubled Debt Restructuring Loans

Thu, 31 Dec 2015 00:00:00 GMT

Many federally insured credit unions worked with members and offered sensible workout loans. As the volume of these loans increased, the National Credit Union Association’s (NCUA’s) reporting requirements created practical challenges for the industry. In order to respond to feedback from the industry and to reduce regulatory burden, NCUA issued an amendment to Rules and Regulations Part 741.3 and added Appendix C to part 741 –Interpretive Ruling and Policy Statement on Loan Workouts, Nonaccrual Policy, and Regulatory Reporting of Troubled Debt Restructuring Loans.

Culture of Accountability: How do we get one? How do we drive performance?

Wed, 30 Dec 2015 00:00:00 GMT

What drives performance? Today more than ever financial institutions are looking for increased performance that will drive revenue to the bottom line with increased efficiency. In an environment with increasing pressure on margins, fee income, and expenses, financial institutions are asking how to maximize performance. How do we get the most out of our current resources?

Fiduciary (Trust Department) Risk Assessment – A Strategic Way to Identify Risk and Align Your Audit Resources

Wed, 30 Dec 2015 00:00:00 GMT

Taking risk is a fundamental component of delivering fiduciary services. The tough economic conditions of recent years have resulted in new challenges for risk management and have forced boards to focus resources on areas of greatest risk.

How Is Your Compliance With Current ACH Stop Payment Rules?

Wed, 30 Dec 2015 00:00:00 GMT

The National Automated Clearing House Association (NACHA) has specific rules for handling stop payment orders. However, there are many options available to financial institutions for managing compliance within these rules.

Nonaccrual Loans

Wed, 30 Dec 2015 00:00:00 GMT

Financial institutions have had to deal with a number of issues related to nonperforming loans over the past several years. As nonperforming loans have increased for many institutions, so has the importance of properly accounting for nonaccrual loans. The following article addresses some of the more significant questions raised regarding nonaccrual accounting.

Security Cost Basis Reporting

Tue, 29 Dec 2015 00:00:00 GMT

On October 12, 2010, the Internal Revenue Service (IRS) issued final regulations on the reporting of sales of securities and their related cost basis. The final regulations reflect rules established under the Energy Improvement and Extension Act of 2008 (the “Act”,) which require reporting of customers’ adjusted basis in sold securities, classification of gains or losses as long-term or short-term, and allow taxpayers to compute the basis of certain stock by averaging. The regulations impact brokers and custodians that make sales or transfer securities on behalf of customers, issuers of securities, and taxpayers who purchase or sell securities.

A WIN for Banks – The IRS Backs Down on OREO Carrying Costs

Tue, 29 Dec 2015 00:00:00 GMT

The change in IRS position is a huge WIN for banks, but what does this mean for your bank?

Banks that have not been capitalizing OREO carrying costs and are not (or have not been) under IRS audit can continue to deduct these expenses in the year they are incurred. This should no longer be an issue if the bank comes under IRS audit in the future.

For those banks that were either under IRS audit, changed accounting methods, and/or potentially paid tax related to this change, the IRS issued guidance through Revenue Procedure

2014-16 in January 2014.

Troubled Debt Restructuring: More Complications...or a Silver (Tax) Lining?

Tue, 29 Dec 2015 00:00:00 GMT

By now, we are all aware of the level of scrutiny the accounting and regulatory environment has placed on a financial institution to properly identify and report troubled debt restructurings (TDRs), but have we forgotten something? Considering all the additional guidance as it relates to the process, identification, tracking, and accounting of TDRs for book purposes, what are the tax implications? Things really haven’t changed that much, have they? The volume is what has changed, and with volume, even with a negative undertone of a TDR, there can be a “silver lining”—tax deductibility.

The Top 10 Must-Haves for Better IT Governance

Tue, 29 Dec 2015 00:00:00 GMT

Information technology can be a financial institution's greatest advantage. Not only does technology serve as a catalyst for improved business performance, but when leveraged, it can also enhance customer service and help differentiate the organization.

Board Governance – Does Your Board Have a Succession Plan?

Tue, 29 Dec 2015 00:00:00 GMT

Today it is more important than ever to have a well-thought-out succession plan in place for your financial institution’s board of directors. Putting a succession plan in place requires a thoughtful planning process that considers a new board member’s competencies, experience, background, and fit with your existing board. In addition, board governance tools need to be well developed and up to date. These include role descriptions for the board chair and directors, committee structure, committee charters, profiles of existing board members, and an understanding of the board’s culture.

“We’ve Been Robbed!” Six Risk Management Measures for Protecting Your Most Valuable Assets

Mon, 28 Dec 2015 00:00:00 GMT

Today’s financial institutions face the greatest threat of robbery, not from teller holdups but from an altogether different kind of criminal activity. The culprits are bank robbers who will likely never set foot inside the financial institutions they rob and, doubtless, will not know nor care where their victims are located.

That’s because today’s bank robbers are sophisticated fraudsters. They are data thieves and account hijackers, and they represent threats to information security from both external and internal sources.

Learn six risk management measures that are fundamental to a financial institution’s ability to mitigate risks and reduce losses.

Challenges in the Real Estate or Dwelling Loan Application Process

Mon, 28 Dec 2015 00:00:00 GMT

Ever look at a real estate or dwelling loan file and see the early disclosures were mailed at a date not within three days of the customer’s signature on an application? Or found a credit report or a loan presentation dated prior to the lender’s noted application date? These are situations that we find more often than one would expect when completing compliance reviews. The time lending staff spend trying to remember what occurred, creating missing documents, or changing existing documents sometimes takes more time than it does for us to review the entire file. This situation could be easily remedied by simply having clear procedures on documentation of the application date.

Tax Considerations for FHLB Stock Redemptions

Mon, 28 Dec 2015 00:00:00 GMT

With the Federal Home Loan Bank of Chicago’s (FHLB’s) new capital structure in place, many financial institutions have had the opportunity to request that their excess capital stock or a portion of it be repurchased—an option that hasn’t been available since April 24, 2008. While this achieves a long-time goal of the FHLB to return full liquidity to members’ investments, management should pause and reflect on potential tax implications given the nature and types of dividends that have been granted over the holding period of the stock—cash AND stock.

Home Mortgage Disclosure Act (HMDA): Did You Get It Right? - Recorded Webinar

Tue, 22 Dec 2015 00:00:00 GMT

Every year you face the same challenge of reviewing, correcting, and submitting your Loan Application Register (LAR). There have been no substantial changes to Regulation C since 2004; however, it’s still a struggle each year to record the information and be accurate. The purpose of this webinar is to renew, refresh, and enlighten you on all of the requirements and pitfalls of the Home Mortgage Disclosure Act just in time to file your LAR. We also touch on the new reporting requirements likely to go into effect for data collected in 2017.

Tax Planning for Acquisition-Related Expenses

Mon, 21 Dec 2015 00:00:00 GMT

Are you contemplating an acquisition, considering potential merger candidates, or looking to purchase a branch location? If so, you will incur various acquisition-related expenses as you structure, negotiate, and consummate the transaction. The tax treatment for these expenses varies, ranging from expenses that are currently deductible to expenses that are capitalized (and subsequently recovered through depreciation/amortization) to expenses that are permanently nondeductible. With proper tax planning, an acquisition can be structured and expenses categorized in such a manner to maximize tax-related benefits.

Recent Mergers Showcase the Other S-Corporation Benefit

Mon, 21 Dec 2015 00:00:00 GMT

Most financial institutions are familiar with the two most common benefits of an S election:

The elimination of double taxation on the amount of current-year earnings distributed to shareholders.
The increase to stock basis for the amount of earnings not distributed to shareholders, which reduces the future capital gain on the stock.

However, there is another benefit that doesn't completely take effect until an institution has been an S corporation for 10 years. That benefit is the opportunity to obtain a higher sales price for an institution (by treating the sale as an asset sale for tax purposes) without owing any built-in gains tax (BIG tax).

Resources for Creating an Effective Cybersecurity Preparedness Plan

Tue, 15 Dec 2015 00:00:00 GMT

Coined by Ronald Reagan and probably one of the ten most dangerous phrases in the English language is “I’m from the government and I’m here to help.” When it comes to assisting financial institutions with developing a cybersecurity strategy, this may not be exactly the case but close.

It’s no secret that cyber threats continue to increase. The bad guys will go where the money is. But you can’t develop a cybersecurity strategy if you don’t know what you are up against. So where do you go for help to understand the evolving threats and how to mitigate them based on your risk profile?

Case Management in Microsoft Dynamics AX® 2012

Tue, 15 Dec 2015 00:00:00 GMT

Traditionally case management is associated with customer service and customer satisfaction. However Case Management in Microsoft Dynamics AX^® 2012 has many facets that can be used to support various business operations such as product engineering change, employee grievances, audit results, collections, new product introductions, supplier issues, and the traditional customer issues. By incorporating the tools available (knowledge articles, case processes, and case categories and case workflow), case management can help you add structure and depth to your business processes by incorporating them in to your Dynamics ERP experience.

In this recorded webinar, we explore the many features and functions of Case Management with a deep dive into product engineering change through the use of Case Management.

Managing Your IT Systems: Creating a Roadmap - Recorded Webinar

Tue, 15 Dec 2015 00:00:00 GMT

Dependable technology is essential for businesses, yet the advancement of technology and the data explosion have increased both the complexity and the vulnerability of the IT environment. As a result, organizations are challenged with mitigating the inherent risks and making the right investments.

This recorded webinar will help you understand some of the critical areas to establish solid processes and a well-functioning technology environment in your business.

Working With an Accounting Expert in Personal Injury Cases

Mon, 20 Jul 2015 00:00:00 GMT

Attorneys practicing in the area of personal injury understand such cases can be fairly complex. They often involve hiring multiple experts, depending on the type and severity of the injury. Using an accounting expert, also referred to as a forensic accountant, can aid in quantifying the amount of economic loss, in dollar terms, associated with a personal injury.

To ensure their clients receive the best representation, attorneys should explore several considerations when seeking accounting expertise. (And if you are thinking, “Isn’t the term ‘accounting expert’ an oxymoron?” please read on.)

Today’s Effective Incident Response Starts Yesterday

Wed, 08 Jul 2015 00:00:00 GMT

There isn’t an IT department in any health care organization that isn’t extremely busy these days. Unfortunately, cyber criminals are equally busy. For them, health care organizations represent a treasure trove of valuable information. So when an incident occurs it demands and divides the attention of IT teams that are staffed to primarily handle day-to-day operations. To read the full article please download the PDF

Mobile/Manufactured Homes Without Land - What Rules Apply?

Wed, 01 Jul 2015 00:00:00 GMT

From time to time, when performing compliance work, our loan sample includes a closed-end consumer loan to purchase or refinance a mobile/manufactured home that will be secured by the dwelling without real property. For financial institutions that rarely process this type of credit request, there seems to be confusion as to how these applications should be treated.

Download this thought leadership paper to help your financial institution sort through the maze of current regulatory requirements, as well as those that will become effective later in 2015.

ALCO—A Defensive and Offensive Approach

Wed, 01 Jul 2015 00:00:00 GMT

Your Asset/Liability Committee (ALCO) process can provide both a historical view and a future view to look at interest rate and liquidity risks. The historical view is a defensive approach, and the future view, if used appropriately, is the offensive approach. Balancing the time spent preparing both the defensive and offensive reviews is challenging, but I believe that both approaches are important.

Fair Credit Reporting Act—Part Deux

Wed, 01 Jul 2015 00:00:00 GMT

With a reverent nod to Mike Royko

I was having a lunchtime conversation with Slats Grobnik Junior (Slats), senior lender at a community-based financial institution. Slats said I opened a can of worms at his financial institution with my May 2015 Wipfli Financial Institution newsletter article about the Fair Credit Reporting Act (FCRA) and using credit reports for commercial loans. He said I need to settle some issues that have cropped up regarding the common practice of reusing a credit report in the file. Hmmm, as a former lender, I recall that being a common practice. Heck, why should I order a new credit report when I have one that is only a couple of months old? In fact, many loan policies explicitly state that a credit report is valid for a certain number of months. What could be wrong with this accepted practice?

FFIEC BCP Appendix J—Addressing the Realities of Today

Wed, 01 Jul 2015 00:00:00 GMT

What were you doing in 2008?

In 2008, I was learning how to navigate my fancy new HTC EVO 3G phone, President Barack Obama had just been sworn in for his initial term, and my hairline was about a half inch lower.

A lot has changed since then. 2008 was also the last time the FFIEC updated the Business Continuity Planning (BCP) booklet, until its latest release of Appendix J on February 6, 2015. This much-needed update attempts to bring BCP regulatory guidance in sync with a couple of realities in today’s business environment.

IRS Provides Welcome Relief on Timing of Bad Debt Deductions

Wed, 01 Jul 2015 00:00:00 GMT

The Commissioner of the Internal Revenue Service (IRS) recently issued guidance to IRS examiners related to bad debt deductions. The guidance, in the form of a directive, provides welcome relief to banks and bank subsidiaries by simplifying the IRS’s approach to auditing this area and eliminating some of the controversy related to bad debt deductions.

The directive acknowledges that determining worthlessness under the current IRS regulations may impose a “significant burden” on banks and bank subsidiaries, as well as the IRS examiners. According to the IRS, its purpose is to increase efficiency in resolving bad debt deduction issues for banks and bank subsidiaries and to more efficiently manage IRS resources. (A directive provides examiners guidance while performing an exam but is not an official pronouncement of law.)

Non-Governmental Organizations and Charities

Wed, 01 Jul 2015 00:00:00 GMT

The Federal Trade Commission (FTC) recently exposed four large cancer charities as frauds. A civil suit filed by the FTC and law enforcement officials from all 50 states and the District of Columbia alleged that the four groups conned approximately $187 million from donors from 2008 through 2012. The four charities were known as the Cancer Fund of America, Breast Cancer Society, Children’s Cancer Fund of America, and Cancer Support Services, Inc. All of the organizations were run by various friends and family members of the founder, James Reynolds, Sr. As demonstrated in the aforementioned case, it is often difficult to determine the ultimate recipient of funds collected by any charitable organization. Financial institutions can do their part by monitoring accounts that belong to non-governmental organizations (NGOs) and charities for suspicious activity.

Accounting Standards Updates—June 2015

Wed, 01 Jul 2015 00:00:00 GMT

Several accounting standards updates (ASUs) impacting the financial institution industry have been issued by the Financial Accounting Standards Board (FASB) over the past year. Some financial institutions will be affected more than others, but we thought the new ASUs deserved at least a little attention.

Close Calls: Practical Tips to Become More Effective in the Preparation of Your Call Report - Banks - Recorded Webinar

Tue, 30 Jun 2015 00:00:00 GMT

The quarterly call reporting has evolved over the years from a simple balance sheet and income statement to a substantial and comprehensive disclosure of a Bank’s financial condition. This webinar covers:

Common errors identified during call report reviews.
Strategies for improving call report preparation accuracy and efficiency.
Best practices for staying abreast of the current regulatory reporting rules in a dynamic regulatory environment.
The benefits of having a knowledgeable backup.
Early findings resulting from the Basel III rule changes effective for the March 31 call report.

Minnesota’s New Value-Based Reimbursement Payment System

Wed, 24 Jun 2015 00:00:00 GMT

The value based reimbursement (VBR) payment system for nursing facilities has been signed into law as part of the 2015 biennium budget for the State of Minnesota. With it comes $139 million of new funding for nursing facility payment rates and $1.5 million of new money for scholarship funding.

There are a few key takeaways from this extraordinary opportunity for all MN nursing facilities. To read the full article download the PDF.

Business Continuity and FFIEC Appendix J: Be Prepared and Compliant - Recorded Webinar

Fri, 19 Jun 2015 00:00:00 GMT

Financial institutions (FI) need to prepare to continue the business and recover from a variety of incidents that could impact operations and service to customers. As FIs outsource more services, they become more dependent on the availability of service providers for day-to-day operations. In addition, cybersecurity threats, like malware and denial-of-service attacks, are threats that need to be considered in business continuity programs.

Recently, the FFIEC issued additional guidance (Appendix J) to the business continuity work program that requires institutions to consider these new threats and dependencies. The FFIEC makes it clear that BCP is a business issue, not an IT issue. Senior management and the board of directors are challenged to provide the governance and oversight over an FI’s cybersecurity and business continuity programs.

In this session, Wipfli provides valuable information on how to prepare your institution to survive when disaster strikes. We also discuss the latest business continuity tools and techniques to develop an actionable and compliant business continuity program. In this session we cover:

Business continuity industry trends
Enterprise-wide business continuity program development
FFIEC regulatory requirements including Appendix J
Re-thinking recovery: solutions and strategies
Common challenges and pitfalls
Self-assessment tool to help you assess BC program readiness

PCI Compliance: Changes to Prepare for and Best Practices in Payment Card Security - Recorded Webinar

Mon, 15 Jun 2015 00:00:00 GMT

Evaluating your compliance with payment card industry (PCI) standards is a continual process. With the rapid growth in technology, it is easier than ever to accept credit cards, but it can also make you vulnerable to a security breach. During this webinar we will help you navigate the PCI compliance standards and lower your risk of a costly breach.

In addition, in October 2015 the much-discussed liability shift associated with EMV is due to take effect in the United States. EMV is the transaction protocol that uses microchips on payment cards to authenticate the card vs. traditional magstripe data. In the wake of numerous large-scale data breaches and increasing rates of counterfeit card fraud, U.S. card issuers are migrating to this new technology to protect consumers and reduce the costs of fraud.

During this information-packed webinar, you will learn about the October 1 deadline, preparing for it, and how your organization will be impacted, as well other requirements and best practices related to the PCI DSS.

Understand what you need to do to prepare for the October 1 deadline.
Learn best practices in payment card security.
Understand the self-assessment questionnaire and how to complete it.
Gain the knowledge you need to evaluate your outside vendors.
Walk away with valuable resources to help you improve your own processes.

Manual Medical Review and Additional Development Requests

Tue, 09 Jun 2015 00:00:00 GMT

It appears that even though the Medicare A Recovery Audit Contractors are on hold, there are some prepayment reviews as well as Medicare B therapy audits and insurance company audits occurring. Are you prepared to respond?

Top Ten Steps to a Well-Maintained Chargemaster

Mon, 01 Jun 2015 00:00:00 GMT

This month we’re broadening our focus to discuss the top ten steps to effectively manage your CDM. These are efforts common to health care organizations that have well-maintained CDMs.

The Role of Security Risk Management in Mergers and Acquisitions

Mon, 01 Jun 2015 00:00:00 GMT

In light of the move toward value-based payment, cost containment, and population health management, 2014 saw another strong year for hospital and health care system mergers and acquisitions. It marked the third consecutive year in which at least 95 hospital transactions were announced and represents a 44% increase in transactions over 2010.

Culture Clash: The Imperfect Storm – Part II

Mon, 01 Jun 2015 00:00:00 GMT

Part one of this article focused on adopting an existing culture. This article will explore creating a new culture designed to capitalize on the strengths of all the merged organizations.

Final 501(r) Regulations

Mon, 01 Jun 2015 00:00:00 GMT

This is the last article (in a series of five informational articles) regarding the Final Regulations. The first article covered the general rules of the Final Regulations, the second covered the community health needs assessment (CHNA), the third discussed the financial assistance policy (FAP) requirements, and the fourth covered limitations on charges and the concept of amounts generally billed (AGB). This article will focus on billing and collections activities and extraordinary collection actions (ECAs).

CMS Speaks at the American Association of Nurse Assessment Coordinators

Mon, 01 Jun 2015 00:00:00 GMT

The Centers for Medicare & Medicaid Services (CMS) hosted a listening session at the American Association of Nurse Assessment Coordinators convention in New Orleans on May 8, 2015.

Merger and Acquisition Market Trends - Considerations for Business Owners Contemplating Ownership Transition or Growth Through Acquisition - Recorded Webinar

Mon, 18 May 2015 00:00:00 GMT

Is now the right time to sell? What if I am a buyer? What factors should I consider?

With an aging population, low interest rates, and a strong pool of buyers including aggressive private equity groups, many business owners are asking themselves, “Is now the right time to sell?” Conversely, younger business executives with a wide pool of financing options available are asking whether they should jump into the market and be a buyer.

Get insights to help you answer these burning questions and others as we take a close-up look at the trends in the merger and acquisition market and the various factors an owner should consider when contemplating ownership transition or growth through acquisition.

For baby boomer owners considering how to transition ownership to the next generation, management, or a third party, this session will provide insight on current trends in the merger and acquisition market. For owners desiring growth or taking some “chips” off the table and partnering with private equity, this session will provide insight on the pool of financing options.

During this webinar we will discuss:

A market update on purchase price multiple trends
Factors that impact purchase price
A market update on debt and leverage trends
Private equity groups and how are they participating in the markets today
Actions a company can take to increase the probability of a better outcome from a transaction
Timing considerations an owner needs to take into account when transitioning

Commercial and Industrial Risk Management: Field Examinations Matter

Wed, 13 May 2015 00:00:00 GMT

Credit issues have significantly abated from their recent peaks. Overall credit quality is improving with total delinquent loans for all commercial banks at 2.75% as of December 31, 2014. This is down materially from the recent high of 7.5% as of March 31, 2010. With the majority of credit problems in the rearview mirror, many bankers are now more focused on client retention and loan growth.

Commercial and Industrial (C&I) lending is one of the market segments that many commercial banks have vigorously focused on in the recovering economy. Banks have this current focus to increase their market share in an effort to provide diversification of risk in the loan portfolio from commercial real estate loans. In general, C&I portfolios did not share the same level of notoriety as real estate portfolios did during the recent Great Recession because real estate has historically been a larger share of the total loan portfolio and as a result had greater visibility.

Got nexus? Multistate Sales and Use Tax Returns and How to Automate Filing - Recorded Webinar

Tue, 12 May 2015 00:00:00 GMT

Got nexus? First, learn what creates nexus—some factors will surprise you—and what to do once you’ve discovered that you have it. In this introductory webinar, we’ll review how states identify companies for audit, nexus questionnaires, state amnesty programs, and voluntary disclosure agreements (VDA).

Topics include:

What is nexus?
What nexus-creating activities cause return filing requirements in a state?
What are the implications of not filing the correct returns?
How can we minimize past risk through a VDA?
How does a company understand its multistate filing obligations (past and current)?

Then, see a demonstration of the Vertex SMB direct integration with Microsoft Dynamics AX and GP. We will review the unique advantages of using a sales and use tax automation solution for Microsoft Dynamics AX and GP, including:

No upfront costs
A pay-as-you-go pricing model
Accurate tax calculations and returns in one cloud-based solution, resulting in signature-ready PDF returns at no additional charge
Direct integration with Microsoft Dynamics AX and GP

With Vertex SMB TaxCentral for Microsoft Dynamics AX and GP, your tax rates and rules are always up to date, and the tools you need to generate and file accurate and timely returns are just a click away. You will no longer have to keep tax rates up to date manually, determine what is taxable in different jurisdictions, or maintain a myriad of tax codes.

Culture Clash: The Imperfect Storm

Wed, 06 May 2015 00:00:00 GMT

In this era of mergers, acquisitions, affiliations, and strategic partnerships, we see many organizations struggling with their ability to unite and operate as a cohesive team.

Final 501 (r) Regulations for Tax-Exempt Hospitals

Wed, 06 May 2015 00:00:00 GMT

This is the fourth of a series of five informational articles regarding the Final Regulations. The first article covered the general rules of the Final Regulations; the second covered the community health needs assessment (CHNA); the third discussed the financial assistance policy requirements (FAP). This article will focus on limitations on charges and the concept of amounts generally billed (AGB) under IRC 501(r)(5).

Define Cybersecurity Before You Can Define Your Efforts

Wed, 06 May 2015 00:00:00 GMT

The term cybersecurity is often broadly used to mean many things. Is it protecting you data against hackers? Is it ensuring smart password protection? Is it taking steps to reduce the risks to software, computers, and networks?

Total Compensation Strategies - Recorded Webinar

Mon, 04 May 2015 00:00:00 GMT

Total compensation is a “hot topic” for executive leadership these days! It has always been important to attracting and retaining high-performing employees, even more so with the talent war raging! It is critical that banks focus on total compensation strategy to ensure alignment with company, department, and individual performance. This webinar focuses on how to strategically and effectively design and manage a total compensation plan to achieve bank goals while remaining responsive to the needs of all stakeholders. At the conclusion of this webinar, participants should possess or renew their working knowledge of total compensation plan elements, compensation strategies, and the importance of linking pay to performance.

Update on Proposed Loan Impairment Standard

Fri, 01 May 2015 00:00:00 GMT

The Financial Accounting Standards Board (FASB) appears to be putting the finishing touches on its proposed accounting standard to measure credit losses for financial assets not measured at fair value, which is expected to be finalized by the end of 2015. This standard would implement a new Current Expected Credit Loss (CECL) model that would require financial institutions to recognize impairment of loans and securities held to maturity by estimating expected credit losses over the entire life of these financial assets.

Even though the new accounting standard is expected to be finalized this year, it likely will not be effective until 2018 or possibly even later. However, there are some things financial institutions can start doing today to begin preparing for CECL.

The Only Two Certainties in an Executive’s Life—Compensation and Taxes

Fri, 01 May 2015 00:00:00 GMT

In today’s competitive market, it can be difficult to attract, motivate, and retain talented executives. One way your institution can stand out from the competition is by providing attractive executive compensation packages. A variety of compensation strategies are available that can address the needs and wants of both your institution and your executive. When deciding which strategy to choose, one of the many items you should consider is the potential income tax consequence at the corporate and executive levels.

Strategic Thinking for Credit Unions: It Has Never Been More Critical

Fri, 01 May 2015 00:00:00 GMT

In today’s financial services environment with continued pressure on interest rate margins, increasing costs due to compliance and regulatory requirements, and the costs of keeping up with constantly changing technology, many of our clients are asking critical strategic questions about profitable growth and the future direction of their financial institution. Now is an ideal time to reevaluate your core business model and ensure you have optimal strategies in place to compete successfully in today’s financial services market. At some point, profitability must come from the ability to grow revenue. Margin is not likely to come roaring back, efficiency ratios have remained relatively flat, the regulatory burden has never been higher, new delivery channels have added to expense, and the supposed lower cost of electronic/mobile delivery has not hit the bottom line consistently.

Strategic Thinking: It Has Never Been More Critical

Fri, 01 May 2015 00:00:00 GMT

Fair Credit Reporting Act Adverse Action Notices for Business Purpose Applications: A Not-So-Simple Issue

Fri, 01 May 2015 00:00:00 GMT

During recent field work for a client, I ran into a perplexing situation that really does not sound all that complex, but in peeling back the outer layer, it became a hornet’s nest of issues. Does a lender report the credit score on the adverse action notice to an individual who was denied for a business purpose loan?

Has Your Financial Institution’s Loan Policy Evolved?

Fri, 01 May 2015 00:00:00 GMT

Lending has experienced dramatic changes over the last decade. Reflect on how your financial institution operated in 2005 and the changes that have occurred in how you do business today. There have been tremendous changes in technology, cyber security, regulation, and competition. There have also likely been significant changes in personnel within your financial institution, including a “generational shift” as baby boomers reach retirement and the next generation assumes leadership roles. Perhaps you have merged or acquired additional locations.

What has not changed is the importance of the loan portfolio with respect to income generation for your financial institution and the potential for loss, and how the loan policy plays a strategic role.

Anti-Money Laundering Automated System Validation

Fri, 01 May 2015 00:00:00 GMT

Anti-Money Laundering (AML) automated systems are used to detect patterns of unusual activity or deviations from expected activity. Some systems are rule-based and others are intelligence-based.

Rule-based systems establish thresholds and parameters and report those transactions that deviate from the parameters. Rule-based systems generally include single rules as well as multiple and overlapping rules. For example, a rule can be established to report any customer who made a cash deposit over a set dollar limit during a certain time period and also performed an outgoing wire transaction over a set dollar limit during that same time period. Intelligence-based systems are adaptive and can “learn” based on historical account activity; they can also compare that activity against predetermined peer group activity or other data. As more transactions and data are stored in the system, activity from a larger pool is analyzed and detection of outliers and unusual behavior can become more defined. This type of system is highly complex, making the validation process more complex as well.

Don't let your device run away with your data!

Mon, 27 Apr 2015 00:00:00 GMT

In light of recent cyber-attacks that focus on gathering personally identifiable information, regulatory emphasis is paying even more attention to how information is stored and distributed. Combined with the recent addition of mobile devices to your financial institution's landscape, this makes the need for security more prevalent than ever. Whether it is a BYOD (Bring Your Own Device) situation in which access to sensitive information is being gained with a personally owned device or a case in which the device is provided by the organization, you need to courier information in the most secure way possible.

Greater Research and Development Tax Credit Opportunities for Manufacturers: Are You Claiming the Credit You Deserve? - Recorded Webinar

Mon, 20 Apr 2015 00:00:00 GMT

For many manufacturers, the federal research and development (R&D) tax credit has been a valuable tax planning opportunity since it became part of the tax code in 1981. The R&D tax credit provides a dollar-for-dollar reduction in tax liability, allowing manufacturers of all sizes to reduce their taxes and increase cash flow, yet the R&D tax credit is still often overlooked.

The traditional definition of R&D conjures up images of lab coats, beakers and test tubes, and high-tech or pharmaceutical types of companies. The reality is that most manufacturers can qualify for R&D tax credits for things they do every day.

Changes to IRS regulations and recent developments now provide greater opportunities for companies to qualify for the credits. Definitions of R&D activities are broader, and as the list of qualifying activities grows, it is much easier for a wide array of manufacturers to qualify many of their activities as R&D.

During this webinar, you will gain a solid understanding of the R&D tax credit as well as the enhanced opportunities for your company to qualify. Highlights include:

A review of new changes to IRS regulations that expanded the types of expenditures that can qualify for the credit.
A close-up look at the types of activities that may qualify for the credit, including day-to-day activities.
An update on recent developments that make it easier to amend tax returns to claim the credit and take advantage of benefits possibly missed in prior years.
State versions of the federal tax credit that are continually increasing the benefit of the credit.

Recorded Webinar – Core System Replacement: It’s All About the People

Wed, 15 Apr 2015 00:00:00 GMT

An insurance-focused webinar on ensuring your next core system replacement is a success by leveraging a change management approach.

This webinar puts a new twist on the core system replacement project theme. A successful core system implementation is only achieved when individual people do their jobs differently – making a transition from their current state to their future state. Change Management is a tool for helping individuals make that personal transition and you’ll hear from both a change management expert and an industry professional as they tell their stories.

Listen on demand to this 1-hour webinar where we discuss:

The science behind People Change Management
The different approaches
The current state of the art
Becky Jimenez (Senior Manager, People Change Management) from CUNA Mutual Group will share the lessons learned from CUNA’s multi-year journey
And more!

If you’re considering a core system replacement, you need to manage the changes related to the people involved. Don’t miss this webinar – it could help you avoid project missteps or, worse, failure.

IT Examination Hot Topics - Recorded Webinar

Wed, 01 Apr 2015 00:00:00 GMT

This webinar covers IT examination hot topics based on FFIEC and interagency guidance. We revisit expectations for cybersecurity awareness presented in last August's recorded webinar. In response to cyber threats, regulatory examiners are beginning to take a new approach for their assessments. The webinar also covers mobile device management as well as summarize trends from various vendor security intelligence reports.

Top 10 Reasons to Objectively Review Your CDM

Thu, 26 Mar 2015 00:00:00 GMT

The topic of this month’s “Top Ten Revenue Cycle Opportunities” pertains to common reasons for hospitals to annually review their charge description master (CDM). Whether you are simply updating annual CPT code changes or conducting a full CDM review, expect to find issues that show you’ve been leaving money on the table. To determine whether your CDM/charge capture processes require an objective review, conduct your own assessment by answering “yes” or “no” to the following questions.

Final 501(r) Regulations

Thu, 26 Mar 2015 00:00:00 GMT

This is the third of a series of five information releases regarding these Final Regulations. The first article covered the general rules of the Final Regulations; the second article covered the community health needs assessment (CHNA). This article will focus on Financial Assistance Policies (FAPs) and Emergency Care Policies required under IRC 501(r)(4).

OCR HIPAA Compliance Audits: Are You Prepared?

Thu, 26 Mar 2015 00:00:00 GMT

How prepared would your organization be if tomorrow the Office for Civil Rights initiated a HIPAA privacy and security audit? The U.S. Department of Health and Human Services’ Office for Civil Rights (OCR) is preparing to implement its formal audit program, sometimes referred to as “Phase II,” and if you have been putting off preparing for the possibility of an audit, now is the time to ensure you’re ready, since any organization can be audited.

Health Care M&A Update: Q4 2013 Through Q1 2015

Thu, 26 Mar 2015 00:00:00 GMT

First quarter 2015 deal volume is running on par with the prior quarter but still lower than the third quarter of 2014. Median deal value fell across the health care industry to 9.1x EBITDA, marking the third straight quarterly decline. Lower sector multiples have followed broader market trends. Buyer appetite remains strong for health care acquisitions, and volume is expected to rise in the coming quarters.

Are You Systematically Prioritizing Your IT Investment?

Thu, 26 Mar 2015 00:00:00 GMT

For IT departments in today’s health care organizations, there is no shortage of projects. Typically the team’s time, resources, and talent are always in high demand. They work hard and put in long hours, but how do you know they are working on the “right things” at the “right times?”

Post-Acute Strategies for Critical Access Hospitals

Thu, 26 Mar 2015 00:00:00 GMT

Critical access hospitals (CAHs) are in a unique position related to post-acute care because of the cost-based reimbursement environment in which they operate. Most post-acute service offerings are not cost reimbursable from Medicare or Medicaid when provided by a CAH. In addition, providing or adding post-acute care services which are not cost-reimbursable can create financial disincentives due to potential negative effects on Medicare and Medicaid reimbursement for CAH services. The reimbursement effect is just one factor in making appropriate strategic decisions regarding post-acute care services.

Top Six Strategies to Extend Executive Bandwidth in Health Care

Thu, 26 Mar 2015 00:00:00 GMT

As a health care executive, you are faced with many challenges including navigating new payment systems, optimizing practitioner performance, integrating systems, building trust, and everything in between in the pursuit of delivering an exceptional patient experience at a reasonable cost. All of these efforts, in addition to fueling growth for the organization, can stretch your band to the point that it snaps! Here are six strategies to extend your bandwidth.

Simplifying Business Intelligence: A Strategy for Better Decision Making and More Effective Collaboration

Tue, 24 Mar 2015 00:00:00 GMT

Are you stuck in truly understanding your business performance and confused about how complex analytics can lead you to the insight you need? Have you invested resources in information systems only to be left wanting more from the information and reports?

To increase effectiveness and efficiency in decision making and to ensure an environment of collaboration, intuition just isn’t enough. Business intelligence (BI) is what gets you there, but it can easily become expensive and complicated. Learn how simplifying business intelligence can lead you to the insight you need, without the waste.

During this webinar we will examine the strategic purpose of BI, and its practical applications.

Highlights include:

How BI can bring clarity and focus to the critical few issues that matter.
How BI can help leaders solve their business problems, including disparate information systems and inefficient and ineffective decision making.
The most common BI applications.
The secrets to maximizing user adoption and sustainability.

Who should listen

Anyone wondering if BI is worth the investment
Anyone who wants to learn how to promote better decision making and collaboration
Anyone wanting to get more from their current BI system or data reporting
Anyone interested in creating data-driven management systems

SALT-ED Q&A: When is the proper time to contest the assessed value on my property tax bill?

Mon, 23 Mar 2015 00:00:00 GMT

Wipfli’s State and Local Tax Practice Group frequently addresses questions from clients dissatisfied with the assessed values on their property tax bills. If you disagree with your assessed value, now is the time to take action. Get the complete answer in this SALT-ED Q&A article.

Most Common Sales and Use Tax Audit Adjustments

Fri, 20 Mar 2015 00:00:00 GMT

During a sales and use tax audit, there are a variety of items the auditor may identify upon review and include in a list of adjustments. This article features some of the most common sales and use tax audit adjustments we see.

Commercial Real Estate Assessments: Are You Paying Too Much in Real Estate Taxes?

Fri, 20 Mar 2015 00:00:00 GMT

Understanding whether your commercial real estate has been appropriately assessed can be very complicated. This article will focus on assessment issues, valuation techniques, and payment of real estate taxes.

Managing Cybersecurity Risk: Be Proactive and Prepared - Recorded Webinar

Tue, 17 Mar 2015 00:00:00 GMT

With all of the high-profile data breaches in the news, conversations regarding cybersecurity have moved from the backroom to the boardroom. Every business has something to protect. Business plans, intellectual property, and customer lists are just as important to protect as obvious targets like credit cards, banking information, and health records, with potentially even more devastating consequences if compromised.

Cybersecurity: What does it mean for your manufacturing organization?

With the increased use of cloud and mobile technologies, the emergence of the Internet of Things, and as global competition increases, cybersecurity vulnerabilities and threats will rise. Investing in appropriate cybersecurity programs can significantly reduce your risk.

During this information-packed webinar, you will gain a solid overview of cybersecurity risks and what you should do to improve your cybersecurity resilience. Highlights include:

An overview of the cybersecurity threat landscape
Top hacker “attack” techniques
Cybersecurity risk management tips
Tools to manage your cybersecurity program

Seven Bonus Benefits From Security Risk Management

Sun, 01 Mar 2015 00:00:00 GMT

Most health care organizations clearly understand the reasons for having a formal risk management program, which includes periodic assessments and analysis. The HIPAA Security Rule requires it, Meaningful Use attestation requires it, and depending on your business, other regulatory or industry standards (i.e., Payment Card Industry) may require it. But aside from the obvious reasons, there are other benefits as well. Risk management can also benefit health care organizations in other less obvious yet equally valuable ways.

Top 4 Health Care Leadership Imperatives for Today’s “Engaged” Workforce

Sun, 01 Mar 2015 00:00:00 GMT

In leadership, you are only as good as your team; and your team is only “your team” if they are engaged and aligned. Here are the top four areas for health care leaders to invest their time in order to lead strong, engaged teams who achieve results.

Cybersecurity: Can You Confidently Answer Questions About Your Organization’s Preparedness?

Sun, 01 Mar 2015 00:00:00 GMT

With so many high-profile data breaches in the news, conversations regarding cybersecurity have moved from the backroom to the boardroom. Without question, every health care organization has something to protect. Business plans and intellectual property are just as vulnerable as obvious targets like health records and other personal information.

Final 501(r) Regulations

Sun, 01 Mar 2015 00:00:00 GMT

This is the second of a series of five informational releases regarding these Final Regulations. The first article covered the general rules of the Final Regulations. Read more: This article will focus on the Community Health Needs Assessment (CHNA) required under IRC 501(r)(3).

Wait—Before You File, Did You Take Advantage of the Tax Increase Prevention Act of 2014?

Sun, 01 Mar 2015 00:00:00 GMT

On December 19, 2014, President Obama signed H.R. 5771, known as the Tax Increase Prevention Act of 2014. The tax bill brought back into law over 50 tax benefits that had expired as of December 31, 2013. The President and Congress gave us only 12 days to take advantage of these tax breaks, as they were only extended to December 31, 2014. The Tax Increase Prevention Act of 2014 extended tax benefits for businesses and individuals.

Underwriting Policies and Potential Fair Lending Risks

Sun, 01 Mar 2015 00:00:00 GMT

Writing loan policies and originating loans require lenders to look at risks from all directions. While safety and soundness considerations are generally the focus when establishing a sound loan policy and underwriting guidance, in today’s environment, lenders should also consider reputation and fair lending risks. Many seemingly neutral policies established to protect lenders from delinquencies and default may be seen by some as risky from a fair lending perspective. Let’s look at recent news covering disability income and maternity leave in which it was determined that discrimination occurred based on the financial institutions’ underwriting practices.

Revision to NCUA’s Risk-Based Capital Proposal

Sun, 01 Mar 2015 00:00:00 GMT

In February 2014, the National Credit Union Administration (NCUA) proposed a new regulatory capital framework for credit unions that would add a requirement to maintain a minimum risk-based capital ratio. In January 2015, the NCUA issued a revised proposal for the risk-based capital framework, which is expected to be effective for credit unions beginning January 2019. The revisions in the proposal generally appear favorable to credit unions. Following are the key changes in the recently revised risk-based capital proposal.

Revised FFIEC BSA/AML Examination Manual Released

Sun, 01 Mar 2015 00:00:00 GMT

On December 2, 2014, the Federal Financial Institutions Examination Council (FFIEC) released the updated Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual, which was last updated in 2010. This article provides a brief overview of the revisions made throughout the new manual.

Policies, Procedures, and Best Practices Lead to Success

Sun, 01 Mar 2015 00:00:00 GMT

We talk to financial services industry executives across the nation on a regular basis and routinely hear them complain about the costs of laws, regulations, and increased oversight on the part of various regulatory agencies. One of the most frequently mentioned as a target of these complaints is the Dodd-Frank Act, which was designed to address inappropriate policies, procedures, and practices in various elements of our industry.

Checking the Pulse of Your Internal Audit Function

Sun, 01 Mar 2015 00:00:00 GMT

What is the pulse of the internal audit function within your financial institution? Over the years, the internal audit function has evolved from the role of verifying compliance with policy and regulations and testing controls to one of providing value to the institution’s governance, risk management, and internal control processes. The roles and responsibilities of the internal auditor and the audit committee have also expanded. Internal auditors have become a trusted resource for the audit committee and provide valuable information regarding the control environment, possible improvements, and the adequacy of corrective action.

Checking the Pulse of Your Credit Union’s Internal Audit Function

Sun, 01 Mar 2015 00:00:00 GMT

What is the pulse of the internal audit function within your financial institution? Over the years, the internal audit function has evolved from the role of verifying compliance with policy and regulations and testing controls to one of providing value to the institution’s governance, risk management, and internal control processes. The roles and responsibilities of the internal auditor and the audit/supervisory committee have also expanded. Internal auditors have become a trusted resource for the audit/supervisory committee and provide valuable information regarding the control environment, possible improvements, and the adequacy of corrective action.

Basel III Preparation

Sun, 01 Mar 2015 00:00:00 GMT

As all of us should know by now, community banks will fall under the new Basel III regulatory capital rules beginning this first quarter of 2015. We have already talked about the most significant changes Basel III will have on regulatory capital in past Accounting Insights, articles, and webinars (for more information, check out www.wipfli.com). So in this article, we will touch on a few last minute considerations to help prepare for the reporting changes.

Challenges and Tips for Strong Passwords

Fri, 27 Feb 2015 00:00:00 GMT

Passwords have been used since ancient times by sentries to allow a person or group to approach or “pass” by. Today, passwords are still the most common form of authentication to prove identity. Usernames and passwords are commonly used in the login process for computers, applications, websites, and ATMs.

But what makes a strong password? And how do we create strong passwords but still remember them? Download the free thought leadership paper now.

Personal Goodwill vs. Entity Goodwill: Understanding and Valuing the Differences

Tue, 24 Feb 2015 00:00:00 GMT

Personal goodwill issues often arise in valuation engagements and can be particularly contentious and confusing in cases of divorce. While any marketable goodwill from a business (typically referred to as enterprise or entity goodwill) represents value when dividing property between spouses, personal goodwill is often called into question. This is particularly true when one spouse has a professional occupation such as attorney, dentist, physician, architect, or accountant, as an example.

In these cases it’s important to segregate personal goodwill from entity goodwill in order to identify marital assets. Keep in mind, however, that whether or not personal goodwill can actually be part of marital assets to be divided varies by state.

This article discusses the factors that affect personal goodwill and drawing the line between it and entity goodwill.

Top 7 Security Tips for Law Firms

Tue, 24 Feb 2015 00:00:00 GMT

There has been a lot of press lately about hackers targeting the legal industry. We put together a list of the top seven security tips for law firms to help manage security risk.

Managing Service Provider Relationships

Thu, 19 Feb 2015 00:00:00 GMT

What impact could your service providers have on your operations, financial performance, reputation, legal liability, etc.? How well are they performing? Are they living up to their contractual requirements? Do you believe they will be able to continue to meet expected service levels? What security exposures do they have that put you at risk?

Accounting Standards: Change is coming. Are you ready? - Recorded Webinar

Tue, 17 Feb 2015 00:00:00 GMT

The only constant in the world of accounting standards seems to be change. The year 2014 was a prime example. Significant activity by the newly formed Private Company Council, ongoing debate over lease accounting, and of course, the new revenue recognition standards are just a few of the headline items that are or will be affecting the financial statements of manufacturers and distributors.

During this webinar we will discuss how the recently enacted, proposed, and pending accounting standards will affect you. Highlights include:

A review of the recent Private Company Council rule-making activity and how these new standards can benefit private companies.
An update on the continuing efforts to bring operating leases onto the balance sheet.
A close-up look at the upcoming revenue recognition standard, including how to prepare for and implement the sweeping new changes.

Effective Alignment of Regional Hospitals With Health Systems

Tue, 03 Feb 2015 00:00:00 GMT

Each month Wipfli’s service line leaders contribute insights to the Health Care Perspective Newsletter highlighting the top tips for improving your organization.

Smaller rural and critical access hospitals (CAH) are joining up with larger health systems at a fast clip across the country. There are a variety of strategic and financial reasons for consolidation, including access to capital, access to specialty physician networks, and improving negotiation leverage with insurers. Once the legal act of a merger has been completed, however, the real work of successfully managing these assets begins. Health organizations can rightly call themselves a “system” only if they can effectively allocate resources and clinical services between their hospitals and service areas.

The following are some of the top issues that health systems need to consider in the ongoing strategic planning and management of their regional and critical access hospitals:

Patient migration patterns and market share: For health systems that own and/or manage multiple regional/critical access hospitals, it is imperative to understand what services their patients are utilizing and where they are choosing to receive these services. As an example, how did service area patients utilize their local hospital versus the larger system hospital? What services are patients choosing to take directly to the system hospital versus receive locally at the smaller hospital? What volume was “leaking” outside the system completely that might be captured in the future? These migration patterns are important to understand because they will drive strategic and capital investment decisions.

Service line quality and profitability: Most regional/critical access hospitals provide a wide range of overlapping medical and surgical services (including OB). While this seems like a prudent strategy, it has left many smaller hospitals with low volumes and potential quality concerns in certain services. Health systems must look critically at the service lines each of their regional hospitals are providing and determine whether or not there is enough volume to provide consistent quality and profitability. For example, should a regional hospital be delivering babies when it only has 50 births a year? The answer depends on a variety of factors but is most influenced by staffing. Some CAHs have Family Practice physicians who also deliver babies. In addition, their nurses are cross-trained to handle OB. These hospitals can make a margin on the service because the providers and staff are cross-trained to provide both traditional medical/surgical and OB care. Understanding service line quality and profitability is critical in determining what services should be grown, maintained, or eliminated.

Health reform impact: As health reform continues to take hold, we are seeing a growing number of inpatient services being pushed to outpatient or home care. Many smaller regional hospitals and CAHs have an inpatient average daily census (ADC) of less than 10 per day and trending downward. As if low inpatient census weren’t enough, many of these admissions will be deemed “ambulatory sensitive” by CMS in the future. In other words, these admissions would not get reimbursed under new health reform regulations. Some CAHs Wipfli has worked with had up to 80 percent of their existing admissions in this “ambulatory sensitive” category. This is clearly a large risk for every CAH, with significant implications from both reimbursement and facility perspectives.

CAH mileage requirements: There’s been recent proposed legislation that would strip CAH designation from those hospitals located 10 miles or fewer from another hospital. Some health systems own multiple CAHs that are located within 10 miles of each other, and under this new policy one or both would lose their CAH status. Health systems in this situation must be prepared with contingency plans to quickly determine which of their hospitals should retain CAH status, which could be converted to a “super clinic” (with ED and diagnostics), and which could be shut down completely. The information gleaned from the steps above can go a long way toward making these difficult decisions.

Facility implications: Many regional/CAHs are 50 to 60 years old and are in need of significant facility upgrades. For health systems that own multiple regional hospitals, the annual capital required for maintenance and renovations can be daunting. The traditional process for allocating capital to their regional hospitals is often highly competitive, with each hospital “taking their turn” to receive bigger capital distributions from the system. A more effective approach to this process would be to look more holistically at the system’s regional hospital “portfolio” and allocate capital strategically and based on the information outlined above. As an example, converting an underutilized inpatient unit into a new OR suite or GI lab can be a worthy investment of capital. In this scenario, underutilized and low margin square footage is being converted to space that is typically a high margin driver for CAHs. Another example involves the use of swing beds. Many health systems take care of inpatients that could easily fall under the “swing patient” designation. Unfortunately, these patients often take up beds in the health system hospital (where reimbursement is less) when they could be just as easily be cared for closer to their home in a regional hospital or CAH (where there is significant bed capacity and reimbursement is higher). Health systems that can effectively triage and co-locate these swing bed patients to their CAHs would achieve a “win-win” for both the larger hospital and the CAH.

The health systems that are most effective at the planning and management of regional/CAHs take a more holistic and strategic approach to the allocation of resources and clinical services. Health system growth through mergers and acquisitions alone will not produce a healthy financial bottom line. Health systems must strive to better manage their regional and CAH assets to provide quality care at a lower cost. Following the outline above can assist health systems to begin down this path of mutual benefit for all stakeholders involved.

Contact the Author

John Dao

952.548.3377

jdao@wipfli.com

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Top Ten Service Pricing Tips

Tue, 03 Feb 2015 00:00:00 GMT

Each month, Wipfli’s Revenue Cycle team members contribute insights to the Health Care Perspective Newsletter highlighting the Top 10 revenue cycle opportunities we observe from our work with clients. This month’s insight pertains to our service pricing recommendations.

Be aware of your current competitors and their market position, price-sensitive services (typically higher cost and non-urgent services), and relative risk of volume shifts (possible opportunity for steerage).
Be aware of your emerging competitors and their market position, price-sensitive services, and relative risk of volume shifts. These shifts are real—particularly from Walgreens, CVS, and other retail outlets providing urgent care and chronic care management services, as well as from freestanding imaging providers that may be 30 to 60 miles away—close enough for your patients to drive for non-urgent services to save $500 or more. Insurance companies are encouraging the shift.
Understand your world: your charge structure, insurance contracts, payer mix, financial situation, relative market position, service mix, capital demands, impact of government shortfalls, community care requirements, and leverage in the market (service/quality/etc.).
Establish prices based on rational cost-based benchmarks and objective market data, but be aware there is usually a significant difference in facilities’ charges (by revenue code), often because of the difference in services provided at the claim level.
Perform price modeling:

Consider market and cost data—use the most current market-based data available (state claims data, Medicare data, etc.) at both the CPT level and the claim level for comparison.
Review claim information for top payers to understand the potential reimbursement impact of price changes before they are implemented.
Understand your key markup factors for pharmacy items, supplies, etc.
Consider a simplification of your chargemaster into bundled procedures as a way to control variability in pricing for common services.

Define the impact (by payer, by CPT code for high-volume services, by claim for high-volume comparable services) and compare to cost (incremental or variable cost for new business or business at risk of shifting).
Focus on the price-sensitive services first. Where are your largest risks?
Perform pricing analyses, at a minimum, annually. Consider multiyear adjustments to achieve your goals, since one-year shifts may be too drastic because your pricing strategy will need to ensure all your organization’s financial requirements are met.
Ensure pricing formulas are simple to update and easy to communicate to various stakeholders (including members of the general public) in a very transparent and accurate way.
Create patient accountability with a clear plan for timely payment of their financial obligation, before non-urgent services are rendered.

Contact the Authors:

Jane Jerzak

920.662.2821

jjerzak@wipfli.com

Vicki Mueller

920.662.2890

vmueller@wipfli.com

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Useful Data for Health Care: It’s a Journey

Mon, 02 Feb 2015 00:00:00 GMT

At a time when there is pressure on health care organizations to reduce expenses, staff are taking valuable time and energy preparing reports that require extraction, cleaning, matching data, and finally, collating information—just to find that another question arises from the resulting report. The cycle starts all over again, and instead of time spent on action (i.e., improvement), time is spent creating more reports. Data holds great potential to apply analytics and identify inefficiencies and best practices that can improve care and reduce costs, but most health care organizations have no solution for bringing together disjointed data sources for a comprehensive view of the business. Fortunately, there are affordable business analytics options available. Download and read the full article below to find out what these options are.

Making the Transition to Basel III a Little Easier - Recorded Webinar

Tue, 20 Jan 2015 00:00:00 GMT

Basel III is effective for community banks beginning January 1, 2015. These rules made some substantial, and sometimes complex, changes to regulatory capital calculations and requirements, and many banks are still trying to understand and appreciate the significance of those changes. This webinar was designed to make the process of changing to the Basel III rules a little easier.

Recruitment and Retention Strategies for Today's Manufacturer - Recorded Webinar

Mon, 19 Jan 2015 00:00:00 GMT

It’s no secret that finding and keeping good employees in manufacturing is tough these days, from front-line positions to professional and executive roles. For many manufacturers, it is impacting your ability to grow. With demographics working against us and ’poaching” at an all-time high, now is the time to revisit your strategies to attract and retain the talent you need.

While there is a skilled talent shortage, there are qualified candidates out there. You need to be looking in the right places, especially when attempting to recruit the millennial generation as baby boomers exit the work force. During this webinar we will discuss new approaches to the recruitment process that you should consider.

We will also review proven retention strategies to “close the back door” to help you keep the quality employees you really want. Manufacturers that embrace this challenge as an opportunity instead of a problem will benefit from the foresight and the effort.

2015 Medicare Payment Systems Changes: Understanding the Impact - Recorded Webinar

Wed, 14 Jan 2015 00:00:00 GMT

This webinar was recorded January 14, 2015.

On November 10, 2014, CMS issued the final rules that update payment policies and payment rates for services furnished under the Medicare Physician Fee Schedule (PFS), the Hospital Outpatient Prospective Payment System (OPPS) and Ambulatory Surgical Center (ASC) Payment System on or after January 1, 2015.

This webinar will provide you with an overview of Medicare’s final rules and changes for hospitals, rural health providers, and physician services most affected by the 2015 changes. We will also include highlights of the final 2015 Inpatient Prospective Payment System (IPPS) rule issued on August 4, 2014 which updates Medicare payment policies and rates for inpatient stays at general acute care and long-term care hospitals for FY 2015.

Among other important payment and regulatory policy updates, our panel of Wipfli professionals will help you make sense of these regulations by discussing the following:

Physician fee schedule, OPPS, and ASC payment updates
Primary care and chronic care management changes
Changes to global services and access to telehealth services
Items and services to be “packaged” or included in payment for a primary service
Off campus provider-based departments
Payment-related changes and coding updates including comprehensive ambulatory payment classifications (C-APCs)
Overview of the two-midnight rule, critical access hospital 96-hour physician certification, and requirements for coverage of Part A inpatient hospital claims
And finally, if applicable, the latest updates on any congressional fixes to the Medicare fee schedule and regulatory extensions that are scheduled to lapse on March 31, 2015

In addition, we’ll update you on new OIG work plan items. Join us as we review the newest Medicare reimbursement information. Learn what actions you need to take now to minimize any negative impact to your reimbursement.

Health Care Trends and Issues For 2015

Thu, 08 Jan 2015 00:00:00 GMT

With the New Year comes a fresh set of what we believe will be among the most important trends and issues for 2015 and beyond. A changing political landscape, continuing advancements in innovation and technology, a multipronged push for value, and the aging of the Boomers will be, in our view, key drivers of change in the health care environment. Pleases download the article below to read the article in its entirety.

Quarterly Health Care M&A Update

Thu, 08 Jan 2015 00:00:00 GMT

Each quarter Wipfli Corporate Finance Advisors will provide an update of health care industry merger and acquisition (M&A) activity. Download the Insight below for the M&A activity between fourth quarter 2013 through third quarter 2014.

Top 10 Tips From Charge Capture Review Audits

Thu, 08 Jan 2015 00:00:00 GMT

In performing Charge Capture Reviews, the detailed bill is compared with the patient record to ensure there is an order for every service charged and reported and that all other items charged are documented appropriately in the record. Each item is reviewed for validity and to confirm complete and accurate documentation exists to support the charge. But you may find more than you are looking for! There are some hidden gems found from performing Charge Capture Reviews. Download the Insight below to read it in its entirety and/or to print a hardcopy.

The Retail Health Care Frontier: Five Critical Success Factors in Selecting Optimal Retail Health Care Facility Locations

Wed, 07 Jan 2015 00:00:00 GMT

Each month Wipfli’s Health Care practice service line leaders contribute insights to the Health Care Perspective Newsletter highlighting their top tips for improving your organization.

Over the last decade, the health care industry has experienced a rapid shift toward a more retail-friendly, consumer-focused model. According to Accenture¹, the number of walk-in retail clinics is predicted to double in 2015. This follows on the heels of an already rapid expansion in retail health care over the past decade in the United States.

While consumer decision making can vary widely when it comes to purchasing health care services, data from research organizations such as Rand Health² are finding that the overwhelming trend in consumer behavior toward greater use of retail clinics falls into three categories: convenience, access, and price transparency. Put simply, patients are seeking the health care services that are offered in a convenient location, with easy access, along with competitive and transparent pricing.

While the most rapid growth in retail health care has been in the treatment of simple acute conditions and preventive care, there is growing evidence that the services offered in retail locations will continue to push the boundaries into more complex specialties such as orthopedics and sports medicine. As this trend continues, it is important that organizations, especially in metropolitan areas, position themselves to compete successfully in the retail health care market. The following five success factors have been identified as critical to the success of a facility location strategy:

Organizational Mission/Vision: Ultimately, an effective retail strategy should be driven by a health care delivery vision that ties retail expansion into its overarching organizational structure. Retail locations can often serve as main campus “deflators” and less expensive alternatives to main campus construction. Retail locations can also serve as an opportunity to expand market penetration in an existing or emerging location.
Service Strategy: Having a clear vision for the services that are going to be offered in a new retail location will ultimately drive the target population and therefore influence the ideal geographic location of the facility. Services such as urgent care, primary care, orthopedics, and sports medicine all lend themselves to a unique patient population. The scope of services such as ambulatory surgery, pharmacy, and imaging also influence ideal location characteristics.
Target Population: Depending on the services being offered in a particular retail health care facility, the target population will likely be vastly different. Urgent care locations lend themselves to more affluent, younger populations in metropolitan areas. Walk-in sports medicine concepts tend to locate in highly active, sports-oriented populations near large schools or sports complexes. Once the target population has been defined, the next step is to perform a detailed demographic evaluation to better hone in on the ideal geographical location for a new retail facility.
Competition: The service strategy of the facility can drive, or be driven by, the competition in a given location. Too often, organizations execute facility location strategies that are reactive in nature, responding to a competitor by duplicating a retail service in the same area. A reactive strategy can tie up limited capital resources in a saturated market, thereby delaying or possibly preventing expansion into new markets with more favorable opportunity.
Service Influencers: In the convenience-driven health care delivery model, it is important to consider the relationship a retail location will have to other services, providers, and referrers within and outside of the delivery system model. Having the vision of the geographical delivery model will help orient a preferred location for the new retail location.

Contact the Author

Nicholas Smith

952.548.3427

nsmith@wipfli.com

Sources:

Retail Clinic Counts Will Double Between 2012 and 2015 and Save $800 Million Dollars per Year, http://www.accenture.com/SiteCollectionDocuments/PDF/Accenture-Retail-Medical-Clinics-From-Foe-to-Friend.pdf, Accenture, 2014
Special Feature: Retail Clinics Play Growing Role in Health Care Marketplace, http://www.rand.org/health/feature/retail-clinics.html, Rand Health, 2014

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Accounting for Business Combinations: A Closer Look

Thu, 01 Jan 2015 00:00:00 GMT

In previous articles, we have addressed the high-level accounting guidance for business combinations. (See, for example, the September 2012 article titled Accounting for Mergers and Acquisitions.) When a financial institution undertakes a merger or acquisition, several additional issues may require accounting answers, some of which are addressed in this article.

Breaking Down the Annual Privacy Notice Amendments

Thu, 01 Jan 2015 00:00:00 GMT

It seems the Consumer Financial Protection Bureau (the “Bureau”) is constantly promising to reduce “unnecessary or unduly burdensome” regulations, but we have not seen results from its efforts—until now. When the press release came out in late October stating that the Bureau was publishing a rule to eliminate the annual privacy notice requirements, I was skeptical; in fact, I set it aside to wait for the small entity guide, FAQs, or whatever else might be released. However, when the very next day an especially proactive client asked how the final rule would impact them, I was forced to scan at least the last few pages of the final rule. I think I actually shouted “Hallelujah!!” Still skeptical though, it wasn’t until I had the opportunity to read the entire 90 pages of discussion that lead up to the 4 pages of actual changes to the regulation, when with my heart beating faster, I acknowledged that the Bureau had actually done it …. It had reduced unnecessary and unduly burdensome regulation.

Top Six Ways to Play Offense

Thu, 01 Jan 2015 00:00:00 GMT

How is your financial institution doing? Are you positioned for a record year ahead? Are you gaining new customers each week while also consistently providing additional products and services to your existing customers? Is your business model and organizational structure aligned with sustainable profitability in a manner that will be successful going forward? Is your team having fun while also being proactively coached and challenged? Are you playing offense in your markets? Indeed, these are all traits of the most successful organizations.

Top Ten New Year Resolutions for Credit Unions in 2015

Thu, 01 Jan 2015 00:00:00 GMT

Wow—it is hard to believe that another year has passed and 2015 is upon us. And what a year it has been. A lot has changed and a lot remains the same. In writing this article, I am reminded how things can turn on a dime (or in my case, an ankle). I am on the road to recovery from breaking an ankle in October, which required plates and screws and has resulted in a lot of immobility. It happened when I slipped on a frosty piece of grass, tumbling down a hill. Thank goodness for cell phones, a good neighbor, fabulous paramedics, and a great orthopedic surgeon!

Privately Owned ATMs and Money Laundering

Thu, 01 Jan 2015 00:00:00 GMT

Since the first cash dispenser was introduced in 1969, getting money when you need it has become a common convenience and an essential way we get our money. There are 2.2 million automated teller machines (ATMs) in the world—more than 400,000 in the U.S. alone. Privately owned ATMs can be found in convenience stores, restaurants, bars, and grocery stores in large urban and small communities today. Some privately owned ATMs are owned by the proprietor of the business; some are owned by independent sales organizations (ISOs), which own many ATMs and place them in businesses in your community.

Top Ten New Year Resolutions for Banks in 2015

Thu, 01 Jan 2015 00:00:00 GMT

Financial Institutions’ Unclaimed Property

Thu, 01 Jan 2015 00:00:00 GMT

Financial institutions have long been aware of the unclaimed property reporting requirements, but recent audit activity and investigations by a few Midwestern states have shown significant underreporting. What’s the significance of this issue? Minnesota, Wisconsin, and other states are actively increasing audit activity, including the hiring of third-party contingent fee auditors, and financial institutions are being targeted.

Unclaimed Property Reporting Requirements: Are You in Compliance?

Fri, 19 Dec 2014 00:00:00 GMT

Nearly every business has a legal duty to notify customers they are holding unclaimed property. In addition, they are required to file an annual report and remit unclaimed funds to the state. If your business hasn’t been taking these steps, be aware—the cost of noncompliance is steep, and the risk of audit is dramatically increasing.

Handling a Sales and Use Tax Audit: What You Don't Know Could Hurt You

Mon, 15 Dec 2014 00:00:00 GMT

You didn’t ask for it, but you were selected for and notified of a sales tax audit. Unfortunately, as you prepare for the actual audit, what you don’t know could hurt you. Learn insights and practical tips to help you avoid potential pitfalls.

Automating and Simplifying Your Sales Tax Compliance with a Sales Tax Technology Solution

Mon, 15 Dec 2014 00:00:00 GMT

In today’s environment, businesses face ever-changing and complex sales tax legislation. How can you stay current and file timely tax returns, especially if you do business in two or more states? A sales tax technology solution like Vertex SMB TaxCentral might be the answer. In this article, learn more about the key features and benefits of a sales tax technology solution.

SALT-ED Q&A: When do I pay taxes in another state?

Mon, 15 Dec 2014 00:00:00 GMT

A question frequently addressed by Wipfli’s State and Local Tax Practice Group is whether a business must file a tax return in another state. The question is actually answered by addressing whether a business has acquired “nexus” in a state. Read this informative Q&A article to get the complete answer.

Tips and Reminders for Smart Year-End Tax Planning - Recorded Webinar

Fri, 12 Dec 2014 00:00:00 GMT

Starting year-end tax planning early allows more time to put strategies in place to achieve your tax-saving objectives. As 2014 draws to a close, there still may be some last-minute planning opportunities for you to consider.

During this webinar we offer practical year-end planning tips and helpful reminders to consider yet for this year or to put on the top of your list for 2015 for minimizing your tax exposure and reducing your taxes. Highlights include:

Affordable Care Act planning. The Play or Pay provision is scheduled to take effect January 1, 2015. Are you ready?
Final repair regulations for tangible property repairs vs. improvements.
Depreciation-related considerations.
Manufacturers’ deduction, also known as the domestic production activities deduction or Section 199.
Tax credits. Tax credits reduce tax liability dollar for dollar, making them extremely valuable. Numerous credits are available, but we will highlight a few of the most valuable.
Business structure. Income taxation and owner liability are the main factors that differentiate one business structure from another. Some tax differences between structures may save you money and liability.

Sales Tax and Technology Solutions: Accepting the "Mission Impossible"

Thu, 11 Dec 2014 00:00:00 GMT

An often overlooked item in a software and technology implementation is the sales tax treatment of the transaction. This article features 10 tips to help you navigate the complex sales tax world of technology solutions.

Effective Wound Care Management: From Observation to Documentation - Recorded Webinar

Thu, 11 Dec 2014 00:00:00 GMT

Effective wound care management is a necessary aspect of resident care. This webinar provides administrators, DONs and nursing management with an explanation of wound care from assessment to documentation. Listeners will gain knowledge and tips that can be utilized in their facilities.

Learning Objectives:

At the completion of this webinar, each participant should be able to address the following aspects of wound care management:

Define assessment options for residents with wound care needs
Identify wound care options and preventative measures available

In addition, we will define documentation requirements for wound care.

Disruptive Physician Behaviors? Don’t Just Address Them, Change Them for Good

Wed, 10 Dec 2014 00:00:00 GMT

Every health care organization must address disruptive physician behavior or run the risk of silently supporting its continuation. However, addressing the problem and changing it are two very different and difficult endeavors. While formal policies and disciplinary processes are important measures, they can fall short of creating real and lasting change.

Behavioral change modeling is truly the key to correcting disruptive behavior. Read the full article to understand how to use behavioral change modeling by downloading it below.

Analytics and the Lamp Post: Illuminating Policyholder Retention - Recorded Webinar

Thu, 04 Dec 2014 00:00:00 GMT

An insurance-focused webinar about how predictive analytics can be used to determine factors that may cause customers to not renew policies.

You know you should be doing predictive analytics, but you don’t have a big budget. This was the situation one company was in as the company sought to determine if there was a way it could know in advance if policyholders would not renew.

In this informative webinar we’ll explore how one insurance company has been able to shed light on this key business question by capitalizing on a unique partnership with Wipfli and Dr. Justin Sydnor (UW-Madison Assistant Professor, Actuarial Science, Risk Management & Insurance).

In this free, 1-hour webinar you will learn:

How the team of partners was formed and how the responsibilities for answering key business question were divided
How the business problem was framed to ensure successful analysis
The results of the analysis to date, including an answer to the question: “Is there a difference between a $20 increase from $660 to $680 and $690 to $710?”
And more!

1099 Information Reporting Guide for Small Businesses for 2014

Wed, 03 Dec 2014 00:00:00 GMT

2014 INFORMATION REPORTING. Unless otherwise noted, most information forms are due to the recipient by February 2, 2015, and to the Internal Revenue Service by March 2, 2015 (March 31, 2015, if filing electronically – see Section II – ELECTRONIC FILING REQUIREMENTS for who must file electronically).

Detailed instructions for each reporting form can be obtained at the IRS website www.irs.gov or by contacting us.

Managing Fraud Risk in Your Organization: Be Prepared - Recorded Webinar

Thu, 20 Nov 2014 00:00:00 GMT

Occupational fraud is estimated to cost U.S. organizations five percent of gross revenue—a potentially devastating amount for any organization. Moreover, a down economy fuels all three components of the fraud triangle: need, opportunity and rationalization, thereby increasing your organizations’ risk of becoming a victim of fraud. Add to that the surge in cybercrime and navigating the fraud landscape has become increasingly complex.

During this webinar, we address the origins of occupational fraud risk, why that risk has increased, and what organizations are doing to manage the risk.

Learning Objectives:

The extent and variety of fraud risk facing organizations in today’s environment.
What are the factors which lead team members to perpetrate fraud on their organization?
What are the contributors that are leaving organization’s vulnerable to fraud?
What are organizations doing to mitigate fraud risk?

Compliance With The Affordable Care Act: Are You Prepared? - Recorded Webinar

Thu, 20 Nov 2014 00:00:00 GMT

The Affordable Care Act (ACA) includes a variety of provisions that reform the health care insurance market and encourage small businesses to offer health insurance. Yet understanding the various provisions and knowing which ones affect your organization can be overwhelming. In addition, guidance continues to be released, and delays of some provisions make it hard to keep straight what applies and when.

Are you prepared to comply with the ACA provisions?

During this webinar, you will get up-to-date information about the ACA and learn about the key requirements. We will help you understand the myriad of fees, taxes, health insurance plan design issues, and reporting requirements that currently affect your organization and will going forward. Highlights include:

Latest developments and a straight-forward summary of the law
Current compliance obligations including filing requirements and notices for employees
Play or Pay rules—how to determine who is a full-time employee and when you need to offer them health coverage to avoid penalties

The presenter also addresses what other companies are doing, what your organization needs to do, what you should be considering doing, and when you need to do it to help ensure compliance with the ACA requirements.

Managing Fraud Risk in Your Organization - Be Prepared! - Recorded Webinar

Wed, 19 Nov 2014 00:00:00 GMT

Occupational fraud is estimated to cost U.S. organizations five percent of gross revenue, a potentially devastating amount for any organization. Moreover, a down economy fuels all three components of the fraud triangle: need, opportunity, and rationalization, thereby increasing your organization’s risk of becoming a victim of fraud. Add to that the surge in cybercrime, and navigating the fraud landscape has become increasingly complex.

During this webinar, we will address the origins of occupational fraud risk, why fraud risk has increased, and what organizations are doing to manage the risk.

Learning objectives include:

Discover the extent and variety of fraud risks facing organizations in today’s environment.
Discern the factors that lead team members to perpetrate fraud on their organization.
Learn the contributors that are leaving organizations vulnerable to fraud.
Find out what organizations are doing to mitigate fraud risk.

Don’t Be the Next Victim: How to Protect Your Company’s Data and Other Valuable Information – A Recorded Webinar

Tue, 11 Nov 2014 00:00:00 GMT

There has been a significant increase in information security breaches over the past 12 months. As evidenced by the many high-profile data breaches and security incidents reported recently, that trend appears to be continuing.

Data breaches are among the most common and costly security failures in organizations of any size. The cost to organizations that have been compromised is staggering not only in terms of increased expenses, but in reputation as well.

An organization’s ability to manage and protect valuable and confidential information is critical to mitigating the risk of a data breach. During this webinar, you will gain an understanding of how to improve the security of your systems to reduce the risk of being compromised. Real-life situations will be examined as to what went wrong and how they could have been prevented.

Critical Compliance Tips to Help Make Your Retirement Plan Audit a Success - Recorded Webinar

Mon, 10 Nov 2014 00:00:00 GMT

Accounting Clarifications for Mortgage Loan Foreclosures

Sat, 01 Nov 2014 00:00:00 GMT

During 2014, the Financial Accounting Standards Board (FASB) issued two new Accounting Standards Updates (ASUs) that clarify the accounting for mortgage loan foreclosures. Both of these standards are effective for periods beginning in 2015 for most financial institutions. However, management may want to consider adopting either or both of these standards early, especially if the adoption would simplify the institution’s current practice.

2014 Tax Planning: What We Know and What We Don’t Know

Sat, 01 Nov 2014 00:00:00 GMT

If year-end tax planning was a major challenge in 2013, planning for the 2014 tax year may be next to impossible. With all the "Bush tax cuts" ending last year, one would think we would be in for a relatively smooth ride. However, with the additional Affordable Care Act requirements, the implementation of the Repair regulations, and the uncertain fate of the "extender legislation," there is a lot to think about!

Compliance Management Systems – Is Your Foundation in Place?

Sat, 01 Nov 2014 00:00:00 GMT

To build a solid, long-lasting house that can withstand aging, weather, remodeling, and last for generations, a contractor must use quality materials and maintain a high standard of workmanship. All the foundational components must be well-implemented so that together they support the house and any changes made to it down the road. The same is true with a compliance management system (CMS).

Getting Your Bank in Order Before It’s Marketed or Sold

Sat, 01 Nov 2014 00:00:00 GMT

While there are various metrics that correlate with value, there are also many things you can and should do to improve your bank’s performance before taking your bank to market.

The level of nonperforming assets can be a value inhibitor, so it is important to address. Obviously, the cleaner your bank is in terms of delinquencies and other real estate owned levels, the higher your pricing will be. A positive trend in nonperforming assets also helps, as will good documentation in all loan files.

FDIC Call Report Tips

Sat, 01 Nov 2014 00:00:00 GMT

As the FDIC call report has continued to expand from 18 pages in 1986 to 80 pages currently, so has the time commitment for its completion (estimated to have increased 73% during the same time period based on an industry association article). This inherently increases the possibility for errors. As you may be aware, the FDIC can assess civil money penalties of not more than $3,200 per day for false or misleading reports or information. Late filing fees range from $330 per day for a first offense to $1,100 per day for subsequent offenses. Based on recent Wipfli audits of call reports, we want to share with you some of our findings as well as tips we have learned to ensure your data is being reported accurately.

Cyber Attacks: Don’t Let Your Member Data Be the Next to Be Compromised

Sat, 01 Nov 2014 00:00:00 GMT

The news is once again both bleak and alarming: Client login credentials were compromised and used to access Experian credit report data. This type of breach has happened over 100 times–most recently in May involving Bluegrass Community Federal Credit Union in Ashland, Kentucky. While Experian and law enforcement are investigating how the breach occurred, Bluegrass is left with the burden of reassuring members that action is being taken to prevent this type of compromise from happening again. But is it?

To Bank or Not to Bank a Marijuana-Related Business

Sat, 01 Nov 2014 00:00:00 GMT

One of the most talked about Bank Secrecy Act (BSA) topics right now is whether or not to "bank" a marijuana-related business. The majority of the discussions involve three major areas: the contradictions between federal and state laws, how financial institutions can provide financial services to marijuana-related businesses, and how and when to file Suspicious Activity Reports (SARs) regarding these businesses. According to the National Conference of State Legislatures, as of August 2014, 23 states have legalized marijuana used for medical purposes. The decision of whether or not to allow marijuana-related businesses to be customers of an institution is truly a risk-based decision; however, prior to making the decision, a financial institution needs to become educated on the facts surrounding this type of business.

5300 Call Report Tips

Sat, 01 Nov 2014 00:00:00 GMT

As the NCUA 5300 call report has continued to expand from 12 pages in 1999 to 25 pages currently, so has the time commitment needed to prepare the report and the possibility for errors. As you may be aware, the NCUA can assess civil money penalties if a report is minimally late or contains unintentional errors up to a maximum of $2,000 per day. Based on recent Wipfli audits of 5300 call reports, we want to share with you some of our findings as well as tips we have learned to ensure your data is being reported accurately.

Unclaimed Property: It’s NOT a tax—it's worse! - Recorded Webinar

Fri, 31 Oct 2014 00:00:00 GMT

In 2013 unclaimed property was the third largest revenue source for Delaware, generating over $500 million. Unclaimed property is subject to state audits, which are often outsourced to third-party audit firms operating on a commission fee. Last year, a third-party auditor earned over $53 million in fees from Delaware alone.

As more states view unclaimed property as a revenue source, they have become more aggressive in pursuing unclaimed property and placing businesses not in compliance under audit. Nearly every state in the Midwest now has signed contracts with third-party audit firms.

Are you complying with unclaimed property reporting requirements? Every business holding unclaimed property is required to file an annual report and remit unclaimed funds to the state. In addition, dealing with multiple states is always difficult, and unclaimed property is no exception. All states have their own set of unclaimed property laws. As a result, definitions and reporting requirements vary by state. Bottom line, the cost of noncompliance is steep, and the risk of audit is dramatically increasing.

During this 60-minute webinar, we will:

Provide an overview of unclaimed property and the reporting requirements.
Identify the major types of unclaimed property.
Explain the sourcing rules of unclaimed property.
Discuss the dormancy periods.
Provide practical filing advice.
Discuss emerging trends and new property types.

The Digital Forensics Advantage: Expand Services, Increase Revenue, Maintain Happy Clients

Thu, 30 Oct 2014 00:00:00 GMT

Like all businesses, law firms must find ways to make themselves invaluable to their clients. One good business strategy is to proactively help clients manage and mitigate their risk.

Attorneys can better serve and strengthen client relationships by making critical recommendations for introducing digital forensics services in the business environment—before such services become a necessary part of litigation. Doing so allows firms to expand their practice offerings and tap into new revenue streams, all while helping clients protect themselves.

Protecting Data: 12 Best Practices to Help Prevent Disaster

Thu, 30 Oct 2014 00:00:00 GMT

Credit Unions large and small manage a goldmine of valuable data. Social Security numbers and other key information of members and employees make your organization an attractive target for identity thieves.

Unfortunately, once member data is lost or stolen, little can be done to "pull it back." At that point, efforts need to be directed to notifying affected members and managing, as best you can, the reputational impact to your business.

Having a multi-pronged approach to proactively protect your data is critical, as is triggering an incident-response plan in the event of stolen, lost, or otherwise compromised data.

Uncovering Undisclosed Assets or Income in Marital Dissolutions

Wed, 29 Oct 2014 00:00:00 GMT

An Unpleasant State of Affairs: Recognizing Trustee Mismanagement of Estates

Thu, 23 Oct 2014 00:00:00 GMT

Estates, otherwise known as trusts, are rife with the potential for trustee fraud, abuse and mismanagement. Given today’s economic pressures and the opportunities inherent in the trustee’s oversight responsibilities, the risk that assets may be targeted for inappropriate use are very real.

Most estates are administered outside of court or other supervision and oversight, leaving beneficiaries to monitor and regulate that an estate is being properly administered and its assets properly accounted for and preserved. Even when there is court oversight, it is generally performed at such a high level that wrongdoing can go undetected.

It’s no surprise then that fiduciary litigation is on the rise alongside today’s tough economic times as disputes between beneficiaries and their trustees become more and more commonplace. This is particularly true when substantial amounts of money are involved and family conflict is present.

USDA Financing: 2015 Update on Community Facilities Loan Programs

Wed, 22 Oct 2014 00:00:00 GMT

The USDA Rural Development Community Facilities program has been the mainstay of capital for rural health care providers seeking to rebuild or renovate. Without $6+ billion in loans distributed through this program over the past five years, hospitals, nursing homes, and assisted living organizations would not have been able to access the capital needed to reinvest in their facilities. Not surprisingly, the success of the program and the size of the loan portfolio, which has grown 500% since 2008, have brought changes in the underwriting standards for new applicants.

The most important development is the emphasis on “Public-Private” partnerships, which means that loan money available through the USDA should be paired with a loan from another source of funds to provide a package of debt. These other sources can include the USDA Community Facilities Guaranteed Loan program, tax-exempt or taxable bonds, and conventional loans and grants (e.g., Community Development Block Grant). The Public-Private partnership has the advantage of allowing the USDA to leverage the underwriting strength and servicing capabilities of another lender and minimize its risk or exposure. In other words, the Public-Private partnership provides a second set of eyes to evaluate the creditworthiness of the borrower and provide monitoring throughout the life of the loan. This is important because although the Community Facility loan portfolio has grown significantly, the number of USDA staff to monitor existing loans and process new applications has actually decreased.

Another significant change is that most loans must have interim financing during construction. Again, given the limitations of USDA staff and the risks during construction, it is prudent for the USDA to allow private lenders to provide construction loans. The interim loan is typically secured by the USDA’s obligation of funds to provide permanent financing post-construction, and there are a number of lenders who are very interested in providing this type of “bridge” financing.

The challenge to the borrower can be that other sources of funds don’t always understand the documentation, application process, and/or requirements that the USDA has for it private partners. It requires a translator who knows the languages of the bank lending, bond financing, and the USDA and who can provide the education needed to help all work together on behalf of the borrower.

Wipfli is well-versed in the current underwriting standards through regular communication with the USDA at the national and state levels. If you are interested in learning more about the program and what you need to do to secure financing, call us; we can help.

The Top Incident-Response Missteps and How to Avoid Them for Digital Forensics Success

Thu, 16 Oct 2014 00:00:00 GMT

Imagine the following events have come to your organization’s attention:

A midlevel employee is suspected of using his company-provided laptop, PDA, and smartphone to conduct illegal drug activities.
A skilled intruder has extracted sensitive customer information from your database.
A disgruntled consumer has unleashed a malicious code that’s destroying your organization’s data.

The actions your organization takes, and doesn’t take, in the face of such adverse events or threats largely determine whether critical evidence will be successfully collected. Take the wrong actions, and your company can face liability issues, risk a damaged reputation, and have difficulty defending and prosecuting its claims.

Moreover, laws regarding breach notifications are clear, but in the aftermath of an incident, compliance can become very complicated. A delayed or disorganized response only spells additional legal troubles and business headaches.

Organizations must be prepared at every level with an incident-response plan.

Digital Forensics: Putting Detective Skills to Work in the Corporate Sector

Thu, 16 Oct 2014 00:00:00 GMT

The digital age has opened doors to new opportunities and efficiencies for today’s businesses. Yet those same technologies that help organizations compete and succeed have also opened doors to criminals and abuse.

Whether it’s breaking the law or violating company policy, individuals from both inside and outside an organization can use digital media as tools and targets to perpetrate crimes, derail business, and create serious, costly disruptions. The evidence of compromised data can show up in everything from desktop computers and cell phones to MP3 players and cameras.

Finding and preserving evidence of unauthorized or criminal activity and evidence of compromised data is crucial. Without it, companies are unable to determine the full extent of damage or prove wrongdoing. They also lose the ability to further protect their resources and reputation. That delicate task of finding and gathering evidence requires the critical skills of digital forensics experts.

Six Excuses Organizations Use to Ignore Fraud Risk and Anti-Fraud Measures

Thu, 16 Oct 2014 00:00:00 GMT

Fraud: it happens.

It happens to organizations of all sizes and across every industry. It happens even to the best of organizations. And in almost every instance, organizations hit by occupational fraud say they never dreamed it would happen to them.

Thanks to research and reporting, we understand much about how fraud is committed and how it can be prevented and identified. Despite this, many organizations fail to implement proven anti-fraud measures like hotlines for the simple reason that they don’t believe it’s necessary.

Need a Forensic Accountant? Here’s What to Look For

Thu, 16 Oct 2014 00:00:00 GMT

The legal challenges of determining financial damages or wrongdoing are often delicate and complicated. Engaging a forensic accountant to provide litigation support or investigative accounting has become a prudent and valuable move toward successfully tackling those challenges.

But not every expert is suitable for every case, and being a competent accountant doesn’t translate into being an effective forensic accountant. Instead, a broader set of skills and specialized knowledge are required for the job. When selecting a forensic accountant, it’s important to examine these eight essential qualifications.

Forensic Accounting: Why Timing Matters to Successful Litigation

Thu, 16 Oct 2014 00:00:00 GMT

More complexity in the business world, more scrutiny, more fraudulent schemes and scandals. The litigious landscape has grown and, along with it, the demand for forensic accounting.

Forensic accountants provide assistance in legal matters by combining accounting, auditing, and investigative skills. They bring a blend of education and experience to help attorneys uncover truths and form legal opinions, assist in criminal investigations, and provide accounting analyses to help resolve disputes or determine economic damages.

Don’t Be the Next Cyber Attack Victim (Or Class-Action Lawsuit)

Fri, 03 Oct 2014 00:00:00 GMT

The news is once again both bleak and alarming: A recent hacker attack on Home Depot has affected more than 60 million customers and is estimated to result in at least $2 billion in fraudulent charges and may even reach $3 billion.

This is just the latest in a string of several high-profile data breaches that include Target, JP Morgan Chase, Dairy Queen, SUPERVALU stores, Bank of the West, and the Healthcare.gov website.

Hacking activity is on the rise as criminals relentlessly look for payment card information and personally identifiable information that can be used for identity theft. Although retailers and banks are primary targets, no industry is immune. That includes any businesses using ACH and wire transfer services. Ransomware attacks are also prevalent and a constant threat, but such attacks seldom get reported publicly.

Many cyber attacks take advantage of weak passwords on entry points into the network, such as remote access systems. Others exploit target systems that are missing software security updates or those that have been configured insecurely. If they’re successful and your organization becomes victimized, the overall costs of recovery can be astronomical in terms of actual dollars lost, the investment it requires to repair the damage, and the costs to repair your reputation.

Now is a prime time to examine your potential risks. Read the full article by downloading it below.

Top Ten Tips for Coder/Physician Collaboration

Fri, 03 Oct 2014 00:00:00 GMT

Each month, Wipfli’s Revenue Cycle Team contributes insights to the Health Care Perspective newsletter highlighting the Top 10 Revenue Cycle Opportunities we observe from our work with clients. The topic this month pertains to coder/physician collaboration.

Breaking down the barriers among the clinical/business staff and the front and back ends of the revenue process.
Engaging the physicians and soliciting their leadership throughout the process.
Educating physicians, clinical support personnel, and coding staff about their roles and partnering with one another.
Introducing the revenue integrity “conversation” into the day-to-day business of the practice.

In our experience, unbalanced and poorly defined roles and responsibilities among physicians, clinical support staff, and coding staff create repetitive problems. By addressing the following issues, you will experience the most immediate and substantive impact:

Ensure Physician Engagement

Physicians understand the importance of data accuracy on clinical outcomes. Ensure they also understand its importance to billing compliance, which typically leads to revenue improvements.
Stress that the team’s role is to help the physicians get the credit for the work they are already doing.
Show the physicians examples of how their work is not being accurately reflected in their documentation and the financial implications. Once physicians understand the importance of a team approach to coding, they often become champions of the process.

Make Sure Employees Understand Their Roles

Help the coders understand that sharing their expertise with physicians is more valuable than piecemeal coding work.
Coders can’t get inside a physician’s head and understand what was involved in the patient encounter strictly by reviewing the notes. Redirect coders to focus on higher-risk areas, and to mentor physicians to better understand the connection between documentation and coding rules.
Ensure your teams understand that accurate documentation is important for many reasons: improving care, ensuring compliant, accurate billing and prompt payment, and creating a high-quality patient experience.

Teamwork Requires Two-Way Communication

Some physicians have little role in the coding/documentation process and often coders “enable” this situation, which makes communication nonexistent or lacking a team approach. Physicians may be right in questioning coding results, but it must be done with a sense of teamwork.
Physicians who understand and respect the coder’s role, the complexity of coding efforts, and especially how their own documentation drives the ultimate coding are engaged and work as team members with their coders.
Clarified roles and improved communication create positive changes among coding staff. They no longer need to play mind reader; instead they become advisors and confidants to the physicians.
More direct and focused educational efforts, with continuing feedback to providers keeps things running smoothly.

Tangible Results

After initial clinic-wide coding education and subsequent one-on-one discussions between physicians and coders, there is typically significant improvement in E/M coding.
Physicians appreciate the coding staff’s ability to be more current in their conversation and become real partners in integrating documentation issues into day-to-day business discussions.
Clinical staff members have better working relationships with coding staff and overall documentation clarity improves.
When problems are identified, staff members have better processes and communication in place to resolve them.

In conclusion, by focusing your efforts on these areas for improvement, you will make a positive impact on compliance, you will better serve your patients, and staff engagement will improve. Improved efficiency and revenues will be your rewards.

Contact the Author

Jeanne Chapdelaine

952.548.3374

jchapdelaine@wipfli.com

Download the insight below to print a hardcopy.

Don’t Be the Next Victim: How to Protect Your Company’s Data and Other Valuable Information - Recorded Webinar

Wed, 01 Oct 2014 00:00:00 GMT

Data breaches are among the most common and costly security failures in organizations of any size. The cost to organizations that have been compromised is staggering not only in terms of increased expenses, but in reputations as well.

An organization’s ability to manage and protect valuable and confidential information is critical to mitigating the risk of a data breach. During this webinar, you will gain an understanding of how to improve the security of your systems to reduce the risk of being compromised. Real-life situations will be examined as to what went wrong and how they could have been prevented.

Repair Regs: IRS says they are here to stay... so what do they mean?

Tue, 23 Sep 2014 00:00:00 GMT

After nine years of back and forth, the IRS released the final Tangible Property Regulations on September 13, 2013. All taxpayers with depreciable property will be required to comply with these new regulations no later than the due date of their 2014 tax returns. Since nearly all businesses have some kind of fixed assets, virtually every business is affected by these new rules.

Four Most Common Retirement Plan Mistakes

Tue, 23 Sep 2014 00:00:00 GMT

Retirement plans are important in attracting and retaining talented employees. Ensuring your plan stays in compliance amid the many changing laws and regulations can be challenging. It requires a strong understanding of your plan document, formal policies and procedures regarding the operation of plan provisions, and constant attention. Some mistakes can be corrected easily, without penalty and without notifying the IRS. Some mistakes can be costly. Is your plan in compliance? This article discusses four of the most common mistakes.

ACH Update 2014 - Recorded Webinar

Mon, 22 Sep 2014 00:00:00 GMT

This webinar was recorded on September 17, 2014.

Electronic payments via ACH continue to evolve as technology and other factors change the way we do things. NACHA Operating Rules continually change as a result. This webinar will cover approved NACHA rule changes and give insight on issues we see financial institutions facing as a result of examiner scrutiny and the changing electronic payments environment.

This webinar will cover changes and updates in the following areas:

Return and NOC codes and rules
Prenotification processing
ACH security requirements
Non-consumer stop payments and authorizations
Person-to-person payments
New audit requirements
Originator and third-party sender documentation and file verification

IT Examination Hot Topics – New Expectations - Recorded Webinar

Mon, 08 Sep 2014 00:00:00 GMT

Recent FFIEC and interagency guidance will be the focus for your upcoming IT examinations. The guidance is in response to the growing threat vector for cybercrime. We have evolved from worms, viruses, spyware, and botnets to more targeted cyber espionage involving advanced persistent threats, dynamic trojans, and stealth botnets. Attacks have become blended involving combinations of physical, technical, and social engineering techniques. Many industry experts believe that there are even more sophisticated scams to come. As a result, regulatory examiners will be using new work programs and assessment tools.

In this webinar, we cover:

Building a strong security culture
Expectations for mitigating cyber threats
Incident response

Results-Driven Dialogue

Fri, 05 Sep 2014 00:00:00 GMT

Do you ever walk away from a conversation thinking: “That didn’t go like I planned?” Or have you ever felt that you just wanted to have a better outcome in some of your conversations?

Many of us are fairly effective at holding difficult conversations with people we know and trust and can engage in healthy dialogue (defined as the free flow of meaning). The real challenge comes when we hold conversations that involve high stakes, opposing viewpoints, and strong emotions. That’s when a conversation becomes “crucial.”

If you have a conversation that is not being held, or not being held well, and it is keeping you from getting results this article will help. It’s based on ground-breaking research in the book Crucial Conversations®: Tools for Talking When Stakes are High* by VitalSmarts ™. Download the article below to learn how you can have more effective conversations.

New IRS Repair Regulations Require Special Attention Now - Frequently Asked Questions

Thu, 04 Sep 2014 00:00:00 GMT

After nine years and significant back and forth, the IRS released the final Tangible Property Regulations, commonly known as the “repair regulations,” on September 13, 2013. All taxpayers with depreciable property are required to comply with these new regulations no later than the due date of their 2014 tax returns.

These far-reaching regulations affect more than just repairs and generally impact everyone who has depreciable assets. Get answers to the most frequently asked questions regarding these new regulations.

Hidden Capital – Do You Have Any?

Mon, 01 Sep 2014 00:00:00 GMT

Capital is king.

Over the last five or six years, I believe most financial institutions have come to realize capital is not only "king," but it is necessary to cover the risk in their institutions. When the Great Recession hit, capital provided a buffer for those institutions experiencing earnings issues. For those experiencing more significant issues, capital became critical, and they found out how hard and expensive it was to raise capital, especially when it appeared the bottom might fall out from an earnings or risk perspective. With the coming of BASEL III, capital will continue to be important for all institutions.

Board of Director Reports – Required and Industry Best Practices

Mon, 01 Sep 2014 00:00:00 GMT

Have you ever had an examiner or auditor ask you to provide a copy of a report that should have been presented to your Board of Directors and you asked yourself, “Was I supposed to provide a report to the Board on that?” Often when we visit a bank and ask for this information, the client gives us the deer in the headlights look, and we ultimately make a comment in our findings that no report was provided as required by either regulation or institution policy.

Managing and Mitigating Loan Participation Risk

Mon, 01 Sep 2014 00:00:00 GMT

An Interagency Statement issued in April 1997 lists some of the positive aspects of loan participations for originating financial institutions as enhanced liquidity, management of interest rate risk, capital and earnings, diversification, and serving the needs of customers. For purchasing institutions, revenue enhancement or loan growth may top the list of benefits, although diversification and other management benefits may also be realized. This seems like a win-win proposition for all concerned.

SAR Stats: A Change in How FinCEN Reports SAR Activity

Mon, 01 Sep 2014 00:00:00 GMT

The Financial Crimes Enforcement Network (FinCEN) released its long awaited SAR Stats in July 2014. SAR Stats replaces the SAR Activity Review: By the Numbers, which debuted in October 2000 and was published in April and October each subsequent year. The last release of the Activity Review was in April 2013. The purpose of the original SAR Activity Review was to provide financial institutions solid feedback on the volume and types of Suspicious Activity Reports and what was being done with them. SAR Stats examines only data that is contained in the updated FinCEN SAR Form 111, which became available in March 2012 but had a mandatory effective date of April 2013. SAR Stats has four sections consisting of Trending Now, SAR Narrative Spotlight, Sector Highlight, and Data Insider.

Two Major Changes to the 2014 NACHA Audit Requirements: Are You Prepared?

Mon, 01 Sep 2014 00:00:00 GMT

Every financial institution that sends and/or receives entries through the Automated Clearing House (ACH) is required to have an annual ACH audit that meets the minimum audit requirements of Appendix Eight of the NACHA Operating Rules. For 2014, there were two major changes to those audit requirements, and every financial institution should ensure compliance or expect an audit finding.

Continuous Improvement

Mon, 01 Sep 2014 00:00:00 GMT

How many times have you heard someone in your organization explain the process they are performing is done “because we have always done it that way?” While longevity in an organization can be a positive trait, it can also hold back the full potential of others as well as the organization. We need to be continually making process improvements within our financial institutions as the world, regulations, technology, and people continue to change.

Updated Tax Sharing Agreement: Required by October 31, 2014

Mon, 01 Sep 2014 00:00:00 GMT

The Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency, Department of the Treasury finalized the Addendum to the Interagency Policy Statement on Income Tax Allocation in a Holding Company Structure (“Addendum”) on June 12, 2014.

SALT-ED Q&A: My vendor is being audited, and I’m being asked for information. What should I do?

Mon, 01 Sep 2014 00:00:00 GMT

A concern frequently addressed by Wipfli’s State and Local Tax Practice Group relates to a client’s vendor being audited. This article answers the question, ‘My vendor is being audited, and I’m being asked for information. What should I do?'

Implementing the New Final Repair Regulations—What You Need to Know - Recorded Webinar

Wed, 27 Aug 2014 00:00:00 GMT

These far-reaching regulations affect more than just repairs and generally impact everyone who has depreciable assets. Although there are relief provisions for small taxpayers, no one is exempt from the new rules, and the IRS expects everyone to get into compliance this year. This may include changes to your internal processes, new annual elections, and filings of one or more IRS Form 3115, Application for Change in Accounting Method.

During this 60-minute webinar, we will:

Provide an overview of the new rules with an emphasis on those aspects of the regulations that affect middle-market and small businesses
Explain why you will be required to file at least one IRS Form 3115 for 2014
Identify the three main accounting method changes you may have to make
Identify internal processes that you will need to change
Identify which new annual elections you will want to consider and explain how the elections are made
Identify opportunities for missed deductions
Provide practical strategies for implementation

The Risk of Short-Changing Due Diligence in a Transaction and Integration

Fri, 15 Aug 2014 00:00:00 GMT

A transaction can be highly beneficial to an organization, allowing growth on top of a base of business versus starting from ground zero as with organic growth. When a company considers an acquisition, the transaction can and should be beneficial, or it shouldn’t be consummated. Experienced buyers including private equity firms and highly acquisitive strategic or seasoned buyers believe in the power and protection of due diligence: doing deeper dives, more comprehensive analysis, and a broader range of analysis. We have found less experienced buyers tend to focus on one or two hot points but fail to look holistically and deeply at the deal. They zero in on only the due diligence surrounding the financials and neglect real risks that lie in wait in operations, with personnel, and during all-important integration efforts. The risks inherent in these four categories can be toxic.

Growth at last: Have we finally picked up the pieces of the recession rubble?

Wed, 13 Aug 2014 00:00:00 GMT

A panel of business leaders from the Midwest recently sat down for a roundtable discussion about the current economic climate, business growth goals, changes in customer-defined value, and overall market competition. The group represented 10 different companies from a range of industries.

While each industry representative brought a unique perspective to the table, the group as a whole shared important market facts and candid insights into the state of the economy, as well as what to expect in the near future.

Top Eleven Medicare Bad Debts

Mon, 11 Aug 2014 00:00:00 GMT

Each month Wipfli’s service line leaders contribute insights to the Health Care Perspective Newsletter highlighting the top tips for improving your organization. Download the insight below for a list of 11 questions you can ask your bad debt preparer to ensure that the bad debts being claimed will hold up to a MAC audit.

Top Five Revenue Cycle Coding Self-Assessment Tips

Mon, 11 Aug 2014 00:00:00 GMT

Each month, Wipfli’s Revenue Cycle team contributes insights to the Health Care Perspective newsletter highlighting the top revenue cycle opportunities we observe from our work with clients. This month’s insight focuses on only five issues, but in more depth. The topic this month pertains to coding self-assessments.

Download our insight below and you can perform a quick checkup for your organization by ensuring the answer to each item is “yes.”

Beyond the Agreement: The Critical Importance of Managing Business Associate Risk

Tue, 05 Aug 2014 00:00:00 GMT

Business associates play an integral role within every health care organization. Their valuable assistance can range from straightforward janitorial services to very complex and integrated services, such as supporting electronic medical record systems.

But how do you know whether your business associates are taking the proper precautions to safeguard “your” patients’ protected health information (PHI), especially when those services involve access to PHI? A signed agreement is no assurance!

The HIPAA Omnibus Rule issued last year now requires business associates to comply with HIPAA and requires covered entities to obtain “satisfactory assurances” that their business associates have appropriate safeguards in place to protect against a breach of PHI.

Certainly, HIPAA has always included language requiring covered entities to ensure business associates safeguard PHI. However, the original language in HIPAA was a bit vague and somewhat weak. Well, that is no longer the case.

Download the article below to read more.

A New Day in Acute and Post-Acute Care Relationships – Recorded Webinar

Tue, 05 Aug 2014 00:00:00 GMT

This webinar was recorded August 5, 2014.

In this webinar, we share data from provider surveys which assess what senior living providers are currently doing to further their relationships with hospitals, other providers, and ACOs. We share the initiatives of hospitals and post-acute providers and their perceptions toward each other. Understanding this will help providers evaluate how to effectively collaborate and identify opportunities and threats, allowing providers to develop cutting-edge strategies in preparing for the changing health care world.

Compliance With the Affordable Care Act: Are You Prepared? - Recorded Webinar

Wed, 30 Jul 2014 00:00:00 GMT

Are you prepared to comply with the ACA provisions?

During the webinar, you will get up-to-date information about the ACA and learn about the key requirements. We will help you understand the myriad of fees, taxes, health insurance plan design issues, and reporting requirements that currently affect your organization and will going forward. Highlights will include:

Latest developments and summary of the law
Current benefits and compliance obligations including filing requirements and notices for employees
Play or Pay rules—how to determine who is a full-time employee and when you need to offer them health coverage

The presenter also will address what your organization needs to do, what you should be considering doing, and when you need to do it to help ensure compliance with the ACA requirements.

Software Selection: How to Reduce Your Risk When Choosing Core Systems

Wed, 30 Jul 2014 00:00:00 GMT

An insurance-focused webinar on reducing the risk when choosing your next core system software.

Core system replacement is not for the faint of heart. There are about 60 policy admin vendors, 70 claims system vendors, and approximately the same number of billing system vendors. Some are staying current and winning deals, some are going to be consumed by the others or simply go away. How do you navigate the vendor maze and make a quality choice for your company?

In this free, 60-minute session, we will help you:

Reduce the chance of making a bad choice of vendor and software
Get the business side of your company ready for the change
Understand where your time is best spent in the search (is it in the software itself, or in the choice of vendor and the implementation process?)

Who should attend: Anyone looking to reduce the risk of choosing a new core system technology.

This webinar is designed to help ensure that your core systems project is a success.

Concrete Terms - July 2014

Thu, 24 Jul 2014 00:00:00 GMT

Contractors can increase the money they make on change orders by including a labor rate schedule in the contract or by basing labor rates on those stated in the unit price section of the bid documents, not on the actual lower cost of labor.

In this issue of Concrete Terms, learn how to lighten the load of change orders too heavy on labor costs.

Roadmap to Technology Success: Don't Forget the Change Management - Recorded Webinar

Thu, 10 Jul 2014 00:00:00 GMT

Join Jeff Wulf, Partner and resident change management expert at Wipfli LLP, and Mark Stevens, Partner, Manufacturing and Distribution Consulting and Technology Integration, as they discuss how manufacturers can create a plan to quickly and easily integrate change management strategies into your next technology project, helping you unlock greater ROI.

In this 60-minute session, you will learn how to:

Create a change management plan that’s aligned with each stage of the technology project
Identify the key challenges and sources of resistance and how to quickly address them
Properly budget for change management projects
Put together a communications plan for project leaders

The Top 10 Pitfalls of Participating in the 340B Drug Pricing Program

Thu, 03 Jul 2014 00:00:00 GMT

Whether your organization already participates in the 340B program or is considering it, it’s important to understand the compliance risks and overall program challenges. This article lists the top pitfalls to avoid to ensure a well-run program.

Download the article below to read more.

Completing and Documenting a Suspicious Activity Investigation

Tue, 01 Jul 2014 00:00:00 GMT

Financial institutions may become aware of unusual or suspicious activity from a variety of sources, including manual transaction monitoring, automated Anti-Money Laundering (AML) software systems, law enforcement inquiries, and requests such as 314a requests, subpoenas, national security letters, or employee notifications. Once such activity has been identified, the incident or alert must be reviewed and investigated.

Some alerts require limited investigation and documentation, while others require expanded investigations and detailed documentation of the results. Alerting management is not a one-size-fits-all process, but enough information must be gathered, analyzed, and documented to make a determination whether a Suspicious Activity Report (SAR) should be filed or whether a “no SAR” file is necessary.

Effective Succession Planning Requires Robust Talent Assessment

Tue, 01 Jul 2014 00:00:00 GMT

The changing workforce and aging baby boomers are realities leading more clients to seek help in understanding which staff members will be able to fill key roles over the next five years. In addition, clients seek guidance on determining the depth of the talent pipeline. Succession planning is an important component of a company’s human resources strategy. More companies today are finding that their knowledge about talent is lacking and the pipeline may be inadequate. The key leadership questions being asked around talent assessment and succession are:

Do we have the right talent—with potential to move into the highest levels of leadership?
Are we focusing talent development on the right roles?
Are the views of the company consistent with the views and ambitions of the potential successor candidates?
How can we prepare and develop talent to be ready?

Revenue Recognition Changes

Tue, 01 Jul 2014 00:00:00 GMT

On May 28, 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) issued guidance on recognizing revenue from contracts with customers. While current accounting standards include detailed but different revenue recognition standards for different transactions and industries, FASB’s new standard, ASU No. 2014-09, Revenue from Contracts with Customers, establishes broad revenue recognition principles that can be applied consistently to all contracts with customers that fall under the scope of the standard.

New Regulatory Expectations to Address Cybersecurity Threats

Tue, 01 Jul 2014 00:00:00 GMT

On April 2, 2014, the Federal Financial Institutions Examination Council (FFIEC) issued notices warning financial institutions about the increase of attacks as a result of ATM cash-out fraud and distributed denial of service (DDoS) threats. Soon after on May 7, 2014, the FFIEC and the Cybersecurity and Critical Infrastructure Working Group held a webinar for CEOs and senior managers of community financial institutions to help raise awareness about the pervasiveness of cyber threats, as well as to discuss the role executive leadership should play in managing those risks.

ATM cash-out fraud, dubbed “unlimited operations” by the U.S. Secret Service, involves thieves using malware to gain Web-based access to ATM control panels to increase withdrawal and geographic limits. The malware is put in place by tricking employees using social engineering techniques. Then, fast and costly withdrawals are performed using fraudulent ATM, debit, and prepaid cards obtained through other attacks, usually during holidays and weekends when monitoring is limited.

On the Horizon: Combined RESPA-TILA Disclosures

Tue, 01 Jul 2014 00:00:00 GMT

On August 1, 2015, the CFPB’s much anticipated Truth in Lending Act/Real Estate Settlement Procedures Act (TILA-RESPA) combined disclosure rule takes effect. The revised disclosures will replace the multiple disclosures currently required individually by RESPA and Truth in Lending with a Loan Estimate Disclosure (Loan Estimate) and a Closing Disclosure. Many of the timing, tolerance, and redisclosure requirements remain unchanged.

This TILA-RESPA rule applies to most closed-end consumer credit transactions secured by real property, including credit extended to certain trusts for tax or estate planning purposes. Certain types of loans currently subject to TILA but not RESPA (construction-only loans and loans secured by vacant land or by 25 or more acres) will be subject to the TILA-RESPA rule’s integrated disclosure requirements. The rule will not apply to HELOCs, reverse mortgages, or chattel-dwelling loans, such as loans secured by a mobile home or by a dwelling that is not attached to real property.

Take Time to Revisit Your Bank Secrecy Act/Anti-Money Laundering Risk Assessment

Tue, 01 Jul 2014 00:00:00 GMT

If you have Bank Secrecy Act (BSA) management responsibilities, it is important for you to have a good understanding of the BSA/Anti- Money Laundering (AML) risk assessment process. Your financial institution’s BSA/AML risk profile is determined through the completion of a risk assessment, and you should update your risk assessment every 12 to 18 months or sooner, depending on your financial institution’s risk profile or changing risks. Management must effectively identify the risks across all business lines of the financial institution to implement a sound BSA/AML program to mitigate the risks identified. When developing a BSA/AML risk assessment, your financial institution must first identify its own unique and specific risk categories and then perform a more detailed analysis of those risks.

IRS Makes Massive Changes to the Capitalization of Certain Expenditures in 2014

Tue, 01 Jul 2014 00:00:00 GMT

In September 2013, the Internal Revenue Service (IRS) released final regulations governing what expenses can be deducted as repairs versus what must be capitalized and depreciated over multiple years. The regulations define the treatment of expenditures for acquiring, producing, or improving tangible property. These new regulations, commonly referred to as the “Repairs Regulations” or “Tangible Property Regulations,” went into effect January 1, 2014. Since nearly all businesses have some kind of fixed assets, virtually every business is affected by these new rules.

The fundamental concept of the new rules is property “improvement.” If an expenditure for work performed fits within the IRS definition of an “improvement,” then the costs must be capitalized. This also includes costs that facilitate the acquisition or production of the property (except for employee compensation and overhead costs). These rules apply to buildings, leasehold improvements, land and land improvements and also to other purchases, including computers, phone systems, vehicles, furniture, equipment, carpeting, and even spare parts.

Establishing Your Company’s Value: The Sooner, the Better - Recorded Webinar

Tue, 24 Jun 2014 00:00:00 GMT

A recent Pepperdine University survey reported that one in three engagements to sell companies in 2013 terminated without a deal. The main cause for approximately 20% of the terminated deals, as reported by intermediaries, was a valuation gap.

Business owners typically don’t discover the disconnect between what they believe their companies are worth and what the market realities reflect until they decide to sell. In some cases business owners will be pleasantly surprised at the market value realized. Too often, however, business owners perceive a higher value than the market will bear, resulting in a gap.

Given the high incidence of valuation gaps, owners would be wise to discover what their businesses are truly worth now and not five years from now.

The best way to drive a high exit value is to know that value as early as possible so strategic plans, budgets, and financial goals can be set to help drive to the targeted exit value by the desired exit date.

During this informative webinar, you will gain a solid understanding of:

The fundamental principles that drive value
Key attributes and risk factors buyers look for
Based on current market data, what is driving valuation premiums in the current market

Physician Practice Acquisitions: Paying Upfront for Practice Goodwill and Intangible Value Is a Sound Idea (and a Potentially Smart One Too)

Fri, 06 Jun 2014 00:00:00 GMT

The topic of paying goodwill and intangible value in hospital acquisitions of physician practices has become hotly debated. Questions continue to be raised whether goodwill or intangible assets should be considered in the purchase of a physician practice and whether they could be considered payment for referrals. Intangible assets and goodwill drive income in a physician practice and should be considered an important part of the acquisition because without the intangible assets, the practice has limited ability to generate income and limited value to a willing buyer.

If the physician practice didn’t have patients or didn’t have its workforce, value of the practice would be limited to its tangible assets. However, if a practice has patients and is an operating practice with experienced staff, value can be higher than the value of a practice’s tangible assets. When a hospital acquires a practice, the hospital is more interested in its intangible assets than tangible assets. I have never talked to a hospital that has said, “We want to acquire this physician practice because we really want their exam tables. That practice has the best exam tables of any other practice in the area!” Most buyers would agree the value lies in the trained work force, patient base, and established practice (going concern).

As appraisers, it is our job to put ourselves in the shoes of the buyer as well as the seller and arrive at a value the buyer and seller would agree to, without the compulsion to buy or sell and without consideration for value or volume of referrals. In my opinion as an experienced appraiser of health care practices, paying for goodwill and intangible assets in a physician practice acquisition is supportable as fair market value (FMV) and commercially reasonable.

Rates, Risks and Regulators - Recorded Webinar

Tue, 03 Jun 2014 00:00:00 GMT

With the Federal Reserve slowly starting to reduce asset purchases, we are left with two big questions. When will the Federal Reserve increase short-term interest rates? And how will the market’s reaction to this anticipated rate increase impact long-term interest rates? Our interest rate crystal ball is broken, so we cannot provide a specific timeline and discussion about how rates will move. What we do know is that managing interest margins is challenging, and we have some suggestions to help.

In this webinar, we discuss:

Investment portfolio management
Highlights of current regulatory issues
Effective corporate governance for the ALM process, including effectively making the process better, managing business risk, and dealing with regulatory expectations
Communicating and educating ALCO and board members
Deposit pricing strategies, including instances of abundant liquidity and potential increased loan demand
Loan pricing strategies

Ransomware: Coming to a Computer Near You?

Mon, 02 Jun 2014 00:00:00 GMT

If Ransomware were a movie, it would be a blockbuster with all the elements of a big-feature success: mystery, international intrigue, drama, even a bit of horror.

Unfortunately ransomware isn’t a major motion picture, but is instead a major malware reality and a business nightmare starring many small companies. Those of us in information security have seen this one multiple times and we know how it ends (spoiler alert: not well). In fact, Wipfli has witnessed an increase in the number of ransomware infections including the CryptoLocker virus. There are now reports surfacing of a similar malware called CryptoDefense.

What You Don't Know...

Mon, 02 Jun 2014 00:00:00 GMT

When your business grows to the point that you need to start hiring people, what you don’t know about employment practices and regulations can really hurt you.

At Wipfli, we’ve been helping small and new businesses with their human resource concerns for years, and frankly, “people” issues cause small business owners more consternation than just about any other area in business. The gut-wrenching experience of having to fire the first person you hired in good faith contributes to more sleepless nights than most business plan, sales, accounting, and inventory problems—combined! We’ve seen many businesses try to cut corners with their human resource concerns (both knowingly and out of ignorance), and it usually costs them plenty in the long run—in lost productivity, trust, customer relationships, and especially legal fees.

This article covers a few things you need to know as you add people to the payroll.

The Top 10 Truths About Information Security Risk Management

Mon, 02 Jun 2014 00:00:00 GMT

Much has changed since HIPAA first established standards for the use and disclosure of protected health information (PHI). With the advent of electronic health records now in the mix, providers that are covered entities or business associates under HIPAA have an entirely new and different level of responsibility for safeguarding information.

With this ever-changing landscape comes a host of uncertainty about how to best assess risk and ensure security is appropriately implemented across the organization (see Top 10 Myths Surrounding Security Risk Management). Despite the questions, there are several undisputed facts that can help guide covered entities and business associates in confidently creating a holistic information security risk management program.

In part two of a two part series, we present the top 10 truths about information security risk management.

Download the article below to read more.

Retirement Plan Audits: Staying Compliant and Avoiding Costly Corrections

Thu, 29 May 2014 00:00:00 GMT

We know you are looking for your retirement plan audit to be smooth and efficient. To that extent, we have brought together our subject matter experts to answer your most pressing questions and bring you best practices for staying compliant and avoiding added expenses related to your audit.

This 1.5-hour recorded webinar is packed with valuable information for the best outcome of your next audit. Topics include:

What are internal controls, and why do I need them for operating our retirement plan?
As the plan sponsor, how should I be selecting vendors and monitoring the plan recordkeeping and reporting functions?
What is the TPA’s SOC 1 report and as the plan sponsor, what do I need to do with it?
Why is the audit information request list so important to the audit process?
What does fiduciary responsibility mean and how does it apply to me as the plan sponsor?
If we find errors in our employee benefit plan, what does the IRS require us to do to fix those errors, when should we consult an ERISA attorney, and what are the repercussions if we don’t fix the errors?
What triggers a Department of Labor audit?

Employer-Owned Life Insurance Mistakes You Can Avoid - Recorded Webinar

Tue, 20 May 2014 00:00:00 GMT

Your business may be caught in a tax trap involving what could be one of the largest assets it owns.

Most businesses purchase life insurance for a variety of reasons: to finance buy-sell or stock redemption plans, to insure against the loss of key team members, or as part of a benefit plan. If the death benefit on a policy is ever paid to the company, it might be the company’s single largest asset.

Unfortunately for business owners, the tax rules surrounding “employer-owned” life insurance can be complex, and failing to follow them will result in major tax consequences. Perhaps just as important, businesses may miss out on opportunities to save taxes (and potentially create capital) when terminating life insurance policies.

During this webinar, you will gain a solid understanding of the various tax traps as well as opportunities associated with employer-owned life insurance:

Tax issues associated with incorrect ownership and beneficiary structures
Notice and annual filing requirements that trip up many businesses that own life insurance
Tax- and capital-saving strategies for acquiring and terminating life insurance contracts

How to Compete & Win With Customer Intimacy - Recorded Webinar

Wed, 14 May 2014 00:00:00 GMT

An insurance-focused webinar about innovating the customer experience for prospects, policyholders, and producers

The insurance industry today is more competitive than ever. To succeed, companies must consistently demonstrate real competitive advantage – in other words, differentiate in ways that are meaningful to their best prospects, policyholders, and agencies.

Apple differentiates on product innovation. Walmart does it with operation efficiency. You can do it with customer intimacy.

Our 1-hour webinar will provide you with smart insights about customer intimacy – what it is, why it’s embraced by prospects, policyholders and agents, why this approach is a more effective method of connecting with and maintaining policyholders, how to leverage technology to streamline the engagement process, and more. You will walk away with the ability to improve the customer experience and the inside track on competing more powerfully in your market.

We will cover these and other important points about customer intimacy:

The philosophy behind customer intimacy and why this way of doing business results in lasting relationships
How technology can be used to streamline the process of connecting with and retaining your best customers
How to zero in on your prospects’ and customers’ life stage needs and connect on that level

This webinar is designed for anyone in the Insurance Industry involved with serving prospects, policyholders and producers; and those in technology who enable their business community to succeed.

Mental Health Services: Revenue Cycle Improvement Strategies – Recorded Webinar

Tue, 13 May 2014 00:00:00 GMT

This webinar was recorded May 13, 2014.

If you're a mental health provider, listen to this webinar presentation to learn strategies for key revenue cycle improvements.

Our approach is to offer typical findings/observations from our client work
We use a one-hour “checkup” presentation approach

Emphasis will be on the areas we find often and that, once resolved, have the best return.

Managing Change in an Ever-changing Business Environment - Recorded Webinar

Tue, 06 May 2014 00:00:00 GMT

Change is constant and all around us—whether it’s implementing new technology, redesigning business processes, revising your organizational structure, or pursuing a merger/acquisition. Companies that most effectively manage the multitude of changes in their business environment will have a distinct competitive advantage today and in the future.

During this webinar, we will begin to demystify the concept of change management and provide the foundation for an approach to managing change in your organization. As a result, participants will gain solid insights into preparing your organization for one of the few certainties in business—change!

Webinar highlights:

Defining change management
Wipfli’s change philosophies
Change vs. transition
Understanding people’s resistance to change
Best practices
Change management tactics:
- Sponsor plan
- Communications plan
- Resistance management plan
Change management and project management
Sustaining change

Health Care Reform: Preparing for the Affordable Care Act - Recorded Webinar

Tue, 06 May 2014 00:00:00 GMT

Be prepared for the Affordable Care Act—it will affect every employer.

Every employer will be affected by health care reform with its impact on providing health insurance to employees. Understanding all the various provisions and knowing which ones affect an organization can be overwhelming. Employers should be planning NOW, early in 2014, for managing the significant financial and operational implications of this law—they cannot wait until July 1, 2014. It is a daunting task to understand the myriad of fees, taxes, health insurance plan design issues, and reporting requirements that will be applicable to each employer organization.

Learning objectives in this webinar include:

A summary of the provisions that are affecting employer’s health plans, including significant new taxes, penalties, and reporting requirements.
Determination of “applicable large employer” status and whether the “play or pay” rules apply and what that means in terms of full-time status of employees and who should be offered health insurance.
Learning about the state insurance “marketplaces” and how they affect employer health insurance coverage.
Options for offering health insurance coverage and related cost analysis and reviewing nonfinancial implications of changes.
How multiemployer union plans work into the equation.
What we are seeing employers considering for the future.

This webinar is intended for people in leadership roles, particularly Presidents/CEOs, COOs, CFOs, Human Resource Managers, and Board Members.

Establishing Your Company’s Value: The Sooner, the Better

Fri, 02 May 2014 00:00:00 GMT

Recently, a Pepperdine University survey presented some eye-opening findings about the importance of valuing privately held companies. Among them:

In 2013, one in three engagements to sell companies terminated without a deal. The main cause, as reported by investment bankers and business brokers, was a valuation gap in pricing.
In fact, valuation gaps (buyers and sellers in disagreement over the worth of a business) accounted for approximately 20 percent of the terminated deals.

The report also indicated that the majority of the privately held businesses surveyed were planning to transfer ownership interest in the next 5 to 10 years. Given the high incidence of valuation gaps, those owners would be wise to discover what their businesses are truly worth now and not five years from now.

The truth is that most owners of privately held companies have already formulated general ideas in their heads of what they believe their businesses are worth. Regrettably, as this survey suggests, many are wrong.

Planning for Basel III

Thu, 01 May 2014 00:00:00 GMT

Federal banking regulatory agencies finalized the Basel III rule in July 2013, which was already applicable at the start of 2014 for large banking organizations (banks and holding companies with more than $15 billion in assets). Community banking organizations (banks with less than $15 billion in assets and bank holding companies with $500 million to $15 billion in assets) will have to apply these new standards beginning January 1, 2015. If they haven’t already, management teams should start planning for Basel III implementation.

NCUA Risk-Based Capital Proposal

Thu, 01 May 2014 00:00:00 GMT

The National Credit Union Administration (NCUA) issued a proposed new regulation on February 27, 2014, entitled Prompt Corrective Action (PCA)—Risk-Based Capital. The proposed new regulation applies to all credit unions with over $50 million in total assets. The capital requirements for “new” credit unions (credit unions that have been in operation for less than 10 years and have $10 million or less in total assets) and credit unions with $50 million or less in assets would remain relatively unchanged from the current rules.

Under the proposed regulation, in addition to meeting the current requirement of maintaining a net worth ratio of 7% or above to be considered well-capitalized, affected credit unions would also need to maintain a risk-based capital ratio of 10.5%. The new risk-based capital ratio would essentially replace the current risk-based net worth (RBNW) requirement.

Capital Planning

Thu, 01 May 2014 00:00:00 GMT

Capital plans are becoming a “must have” in the management of banks. Whether a bank is facing a positive or negative outlook, a capital plan is either an industry best practice or a requirement by a regulator. And with the changing regulatory landscape, it is a good idea to review all aspects of a capital plan, starting with a definition of capital.

When Should You Force Place Flood Insurance?

Thu, 01 May 2014 00:00:00 GMT

On October 30, 2013, proposed rules implementing the provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 were issued. One of the provisions included in Biggert-Waters allows, but does not require, servicers to charge borrowers for force-placed flood insurance beginning on the day the flood policy lapses or coverage is insufficient. The servicer will, however, be required to reimburse the borrower for any time period for which a force-placed flood insurance policy and a borrower-paid policy overlap. This was a change from the previous requirement that prevented servicers from charging borrowers until 45 days after a notice was sent to the borrowers informing them that their flood policy had lapsed or was insufficient.

Wire Transfers: A Fraudster’s Dream and a Banker’s Nightmare

Thu, 01 May 2014 00:00:00 GMT

In recent years, the number of wire transfer fraud attempts has increased for all financial institutions, including smaller community institutions. There have been increased numbers of corporate account takeovers and hacked e-mail accounts. Weak or inadequate controls over your wire transfer department could make your institution susceptible to wire transfer fraud. What are the risks?

IRS Myth Busters

Thu, 01 May 2014 00:00:00 GMT

Should we live in fear? It’s not really a big secret that most people dread the thought of ever receiving an audit notice from the IRS. For the average taxpayer, it probably ranks up there with having to have dental surgery. Naturally, the IRS will not seek to relieve our fears since the more we fear the more likely we are NOT to mess with the IRS.

The best way a tax professional can help conquer the hold the IRS has is to educate the taxpayer by debunking mainstream myths and alleviating the fear and stress surrounding any interaction with the IRS.

Money Laundering and Terrorist Financing “Red Flags”

Thu, 01 May 2014 00:00:00 GMT

In today’s regulatory environment, it is easy to get overwhelmed with all of the busy work that goes along with Bank Secrecy Act (BSA) compliance. Currency transaction and suspicious activity reporting; OFAC screening; 314(a) searches; exempt customer, monetary instrument, and funds transfer recordkeeping; customer identification due diligence; and ongoing high-risk customer monitoring are all staple requirements of the BSA. These reporting and recordkeeping requirements can consume much of your day! Whenever I get frustrated with all of the BSA busy work, I remind myself of the primary purpose of the regulation, and it makes me feel better.

Top 10 Myths Surrounding Security Risk Management

Thu, 01 May 2014 00:00:00 GMT

Security risk management is not only a crucial part of safeguarding protected health information (PHI), but also a requirement under the HIPAA Security Rule. Risk management helps organizations identify risks to PHI and determine what controls need to be implemented to reduce the risk to an acceptable level. It also can be used to validate regulatory compliance and test effectiveness and adequacy of security controls. Lastly, it also helps preserve the trust of patients, insurers, employees, and the public.

In part one of a two part series, we present the top 10 myths surrounding security risk management.

Download the article below to read more.

Abila Fund Accounting Newsletter - Issue 1; 2014

Thu, 24 Apr 2014 00:00:00 GMT

This edition of the Abila newsletter features articles including:

A Closer Look at MIP Mobile
Grant Management Version 2014 Now Available

Rural Health Clinic Update – Recorded Webinar

Wed, 09 Apr 2014 00:00:00 GMT

This webinar was recorded April 9, 2014.

In this webinar, Jeff Bramschreiber presented an overview of the Rural Health Clinic (RHC) program, including legislative and regulatory updates. In addition, he provided overviews of RHC billing and RHC cost reporting. Jeff concluded his presentation by comparing and contrasting RHCs with Federally Qualified Health Clinics (FQHCs).

Listen to this webinar today by downloading the files below.

Health Care Professionals Should Consider Personal Financial Goals

Fri, 04 Apr 2014 00:00:00 GMT

Health care professionals are BUSY. No doubt about it.

They juggle many responsibilities: caring for patients, staying on top of new medical and scientific developments in their field, managing their practice in an ever-changing economic environment. All of these are of the utmost importance for the well-being of the health care professional and those who depend on his or her expertise.

Unfortunately, the also-important but perhaps less-urgent aspects of that professional’s own personal financial goals can easily be overlooked. It is common among many of them to not seriously plan for their own personal financial goals until later in life. The prognosis: this delay can cost them dearly.

Download the article below to read how to avoid these unnecessary delays.

Quantifying the Impact of Health Care Reform – Recorded Webinar

Tue, 01 Apr 2014 00:00:00 GMT

This webinar was recorded April 1, 2014.

Many hospitals and health systems are at a crossroads in how they are responding to health care reform. In many markets, demand for health care continues to grow and outpace capacity (even in inpatient settings). In these high-demand and high-utilization markets, many hospitals and health systems don’t have enough capacity to keep up with demand (beds, operating rooms, etc.). In response, some are considering new facility expansion projects that can cost hundreds of millions of dollars. This is obviously a significant risk when utilization is projected to decline nationally and health care reform measures are aimed at keeping patients out of the hospital setting. So what are they to do in these situations? Should they avoid construction in the hopes that utilization rates will drop as projected (meanwhile potentially losing market share and patient loyalty) or should they spend the millions on construction and risk not needing the resources in ten years? This is a dilemma that many hospitals and health systems across the country are currently faced with.

Section 179... one of those rare gifts

Mon, 31 Mar 2014 00:00:00 GMT

Most small businesses would like the ability to expense everything when purchased. Unfortunately, the way tax law is written, that isn’t always an option. Certain things purchased, such as buildings, machinery, vehicles, furniture, and equipment (but not land), are required to be spread over a certain number of years for expensing purposes called depreciation.

Spotting Variation: The Key to Greater Profitability

Wed, 26 Mar 2014 00:00:00 GMT

Variation—that is, the nonstandard and the unexpected—happens to every manufacturer despite best efforts to prevent it. Parts vary, processes vary, people vary. While every manufacturer recognizes that variation exists, most are unable to control it because they cannot identify where or when it occurs. Yet all agree on one thing: money is lost because of variation.

Variation is the enemy of profitability, efficiency, competitiveness, and growth. It leads to high costs, long lead times, late deliveries, and organizational frustrations. Perhaps nowhere is that frustration factor highest than when trying to pinpoint the exact cause of variation. By identifying variation and eliminating it, processes can become predictable and repeatable.

Unlearn to Relearn: The Secret to Sustaining Success

Wed, 26 Mar 2014 00:00:00 GMT

The secret to sustaining success is to be willing to unlearn—to change a previous approach that might have been successful—and learn a new way that is better aligned with your new situation.

Q&A: What are the foundations of a successful business intelligence platform?

Wed, 26 Mar 2014 00:00:00 GMT

What are the foundations for a successful business intelligence platform?

Business intelligence (BI) is all about discovery. Discovering that what you thought was true about your business isn’t necessarily so, and what you thought was not true about your business, really is true. We accomplish this by combining data elements from multiple sources and connecting the data in ways not previously possible, providing information for new insights, new thoughts, and new questions.

'Lean' Your Way to Better Productivity - Recorded Webinar

Tue, 25 Mar 2014 00:00:00 GMT

If you think you’re lean…you’re probably not! Lean is more than just flow or waste like you typically hear. Lean is about thought. Join us and learn how developing a “process mind” can transform your organization. Webinar features a discussion with Phil Kirby, lean expert and author of The Process Mind: The New Thoughtware.

In this webinar, you will learn:

How to transform your thinking about lean
How to integrate people and process thinking into everything you do
How to relentlessly drive waste from your operations
How to effectively gauge the success of your lean initiatives

Software selection is risky business…Even for the risk business

Wed, 19 Mar 2014 00:00:00 GMT

Your company is built on understanding risk. But the risk of shopping for policy administration, claims administration, and billing systems (core application systems) is different; a process that typically occurs once every 10 or 20 years.

Six risks that can sabotage your enterprise technology investment

Wed, 19 Mar 2014 00:00:00 GMT

In the last 20 years, enterprise technology has evolved to become a key component in most organizations’ basic ability to compete, grow, and thrive. In fact, nearly every industry relies on enterprise technology to support scale and growth.

Success With Succession: Fostering the Next Generation of Leaders - Recorded Webinar

Mon, 17 Mar 2014 00:00:00 GMT

Whenever a new generation enters the work force, speculation abounds as to what is going to be different and how these new professionals will change the work environment. In this webinar, we are going to explore generational differences and how these impact not only working relationships, but the use of technology, the definition of office, communications styles, and of critical importance, the management and development of individuals who will next lead your organization into the future.

Webinar highlights:

Differentiate succession and talent management
The process of talent management
The case for talent management
Shifting demographics
The many talented generations
Talent management cornerstones
Best practices
Writing and working the plan

Valuations and the "Service": Two First-hand Cases and Insights That Can Help Improve Reports

Fri, 14 Mar 2014 00:00:00 GMT

As a business valuations practice leader with nearly 25 years of experience, I have performed more than 2,000 business appraisals. In all those appraisals, I’ve dealt with the Internal Revenue Service (the “Service”) less than 10 times. Two of those times were in 2012.

What I learned from those two experiences sheds valuable light on how the Service is now reviewing minority and marketability discounts. It also creates opportunities to improve valuation reports.

This paper describes those firsthand experiences, shares key findings, and provides tips and insights for securing appropriate discounts in today’s review environment.

Collaboration and Decisions Systems - What Every Contractor Needs to Know: Leveraging Technology to Make Your Job Easier - Recorded Webinar

Wed, 12 Mar 2014 00:00:00 GMT

Mountains of spreadsheets and e-mail, but still can’t find what you need to win projects and manage them effectively?

You love some technology, but other technologies just seem to make things worse. You want it simple, to help win more jobs so you can make more money. You’re skeptical of new software since you don’t seem to use the software you already have. You know how to use Outlook, your smartphone, and Excel. You’re connected all the time, but you can’t seem to find what you need or get others to help you. If you could simply reduce the clutter and have everyone in the company on the same page so you could repeat your success, that would be great! We’ve got some ideas that have been proven to work with other contractors, using the stuff you already know. Let us show you.

During this informative webinar we will provide insights into leveraging technology (including tools that many companies already have in place such as Outlook, Excel, and tablets/smartphones) to help you become more collaborative, efficient, customer-centric, and profitable.

Who should attend?

This seminar is intended for people in leadership roles at contractors and specialty contractors, particularly those responsible for company growth, selling projects, and managing projects to successful and profitable completion.

Health Care Mergers and Acquisitions: How Transactions Involving Not-for-Profits Are Different

Thu, 06 Mar 2014 00:00:00 GMT

Transactions between health care organizations come in all shapes and sizes. When transactions involve a not-for-profit (NFP) organization as either the buyer or seller, which comprised the majority of health care merger activity in 2012 , there are unique valuation differences that must be taken into consideration.

Download the article below to read how NFP transactions are different.

CMS Recovery Audits Paused: An Opportunity to Reflect on Your Medicare Program

Wed, 05 Mar 2014 00:00:00 GMT

Recently, the Centers for Medicare and Medicaid (CMS) paused Recovery Audit Contractors (RACs). The reason for the pause is that the RAC contracts are complete and CMS is now reviewing new contracts for the next round of reviews. This gives you an opportunity to reflect on your Medicare program.

Download the article below to read more.

Goodwill Alternative and Other Accounting Updates

Sat, 01 Mar 2014 00:00:00 GMT

In January 2014, the Financial Accounting Standards Board (FASB) issued three new Accounting Standards Updates (ASUs). ASU No. 2014-02, Accounting for Goodwill, is applicable for all financial institutions except those considered public business entities. This standard allows entities to elect an accounting alternative to amortize goodwill on a straight-line basis over ten years, or less than ten years if the entity demonstrates another useful life is more appropriate. Institutions may elect the alternative as of the beginning of any interim or annual period for which financial statements have not been issued. Once this election is made, all future goodwill must also be accounted for following this alternative.

Trust Risk Assessments: A Fiduciary Must

Sat, 01 Mar 2014 00:00:00 GMT

Trust-related activities expose banks to many of the same risks encountered in traditional banking activities. For example, operating (transaction), strategic, legal, compliance, credit, settlement, market, liquidity, and reputational risks may be present both for trust departments and bank operations. Some risks may result directly from trust department or bank processes, while other risks may be inherent in the assets purchased or held in client accounts.

Call Report Late Filing Trends and Implications

Sat, 01 Mar 2014 00:00:00 GMT

By now, hopefully you have read the NCUA Letter No. 14-CU-03. Its subject was civil money penalties to be assessed for late Call Report and Profile submissions. The NCUA noted 1,075 credit unions filed their third quarter 2013 Call Report late. The chart below, from the NCUA, highlights the recent trends in late filings.

New Points and Fees Test for Qualified Mortgage and High-Cost Mortgages

Sat, 01 Mar 2014 00:00:00 GMT

Many of you have questions about what fees are included in the points and fees calculation for qualified mortgages and high-cost mortgages as well as how to determine the loan amount. It may seem simple at first; you have the numerator of the calculation being the points and fees, and you have the denominator being the total loan amount. But I am reminded of a statement in a television advertisement “no, no, no, not today.” The purpose of this article is to provide basic guidance; it is not intended to discuss all situations. You should review your particular case against the regulation to validate what to include in the fees for the points and fees and how to determine the total loan amount.

Due Diligence for Private ATM Owners or Operators

Sat, 01 Mar 2014 00:00:00 GMT

The number of privately owned or operated ATMs has increased over the past few years. The reasons businesses and individuals own ATMs varies. The ATMs generate income for their owners and require little time to maintain. In addition, they are convenient for business’ customers to obtain cash.

The ATMs may be beneficial to their owners, but can mean increased risk to the Bank that serves the owner. There are few regulatory requirements for the owners so nearly anyone can own one or 100. There is increased money laundering risk associated with the machines. Money from illegal activities can be used to fill the machine, customers make withdrawals and clean money is sent to the ATM owner or operator via ACH deposits to settle the transactions.

Continuous OD Fees Again? I Thought We Already Covered This!

Sat, 01 Mar 2014 00:00:00 GMT

It’s likely financial institutions can all agree that regulators have elevated the importance of overdraft fees in their examination scopes. They don’t like how depository institutions charge them, when they charge them, how much they charge for them, and sometimes even how they are defined. Regulators dislike the fees so much that institutions now have to be concerned whether the amount of fees and how they are charged could be considered a UDAAP issue in a regulator’s opinion. No institution wants that kind of negative publicity.

Are You Due For an Annual Interest Rate Risk Checkup

Sat, 01 Mar 2014 00:00:00 GMT

The Federal Deposit Insurance Corporation (FDIC) issued a letter October 2013 to financial institutions saying the agency is increasingly concerned that some banks and thrifts are not sufficiently prepared for volatility or a sustained rise in interest rates. The FDIC is reemphasizing the need for oversight by the board and management, policy frameworks and prudent exposure limits, effective measurement and monitoring of interest rate risk, and risk mitigation strategies.

Board Governance – The Top Ten Best Practices to Maximize Long-Term Performance

Sat, 01 Mar 2014 00:00:00 GMT

Board governance is more important than ever before with increasingly complex regulatory requirements, pressure on earnings, and the search for profitable growth. In an environment of both great challenges and great opportunities, the need for engaged and informed directors governing the financial institution is critical.

Due Diligence for Private ATM Owners or Operators - Credit Unions

Sat, 01 Mar 2014 00:00:00 GMT

The ATMs may be beneficial to their owners, but can mean increased risk to the Credit Union that serves the owner. There are few regulatory requirements for the owners so nearly anyone can own one or 100. There is increased money laundering risk associated with the machines. Money from illegal activities can be used to fill the machine, customers make withdrawals and clean money is sent to the ATM owner or operator via ACH deposits to settle the transactions.

Foreign Account Tax Compliance Act: What Domestic Financial Institutions Need to Know!

Sat, 01 Mar 2014 00:00:00 GMT

There has been increasing concern by the Internal Revenue Service (IRS) regarding U.S. taxpayers that use offshore investment structures to avoid reporting and paying U.S. income tax. The current withholding rules were determined to be insufficient to prevent this type of tax evasion. Consequently, the Foreign Account Tax Compliance Act (FATCA) was created. Under FATCA, U.S. withholding agents are required (effective July 1, 2014) to withhold federal income tax at 30 percent on specific payments to certain foreign financial institutions (FFIs) and non-financial foreign entities (NFFEs). It is imperative that U.S. withholding agents (including domestic financial institutions) understand and comply with the new withholding requirements.

Top Three Management Measures for a Healthier Loan Portfolio

Sat, 01 Mar 2014 00:00:00 GMT

Maintaining the overall health of your institution’s loan portfolio is a vital endeavor. Given the current weak economic conditions, it’s not unusual to discover that even properly underwritten loans may now be stressed by external factors.

There’s no better time to improve the vitality of your loan management efforts. As a whole, your institution must aggressively address gaps in risk management and adopt more “preventative care” measures. Reestablishing loan boundaries, redefining review practices, and refocusing efforts will ensure your institution has its risk management basics down pat.

Using Tax Credits and Incentives to Improve Cash Flow and Grow Your Business - Recorded Webinar

Thu, 20 Feb 2014 00:00:00 GMT

Could you be leaving money with the federal, state, and/or local government? The answer is probably “YES.”

Tax credits and incentives are tools used by federal, state, and local governments to attract or retain jobs and investments, stimulate innovation, and conserve energy. Unfortunately, many manufacturers may not be taking advantage of these tax credits and incentives and therefore are missing out on the benefits associated with them…most notably, improved cash flow.

During this webinar, you will gain a solid understanding of the various tax credits and incentives that exist and benefits associated with them. Key takeaways will include:

Overview of the most commonly used incentives such as jobs tax credits, investment credits, energy tax credits, research credits, grants, and expense reimbursement programs
Understanding of the availability of incentives, applicability to your business, and associated benefits
Steps or actions required to qualify for and/or claim incentives to help ensure your business takes advantage of them

Who should attend?

This webinar is designed for business owners, presidents, CEOs, CFOs, controllers, financial and accounting professionals, and other leaders with responsibility for the bottom-line performance of your business.

CAH Designation at Risk? Explore Viable Reimbursement Models – Recorded Webinar

Tue, 18 Feb 2014 00:00:00 GMT

This webinar was recorded February 18, 2014.

If a proposal by the Office of the Inspector General (OIG) is passed, rural hospitals that don’t meet distance requirements will lose their Critical Access Hospital (CAH) status—that represents nearly two-thirds or more than 800 rural hospitals. As a result, many rural hospitals are weighing their strategic, service mix, and other performance metrics. What will your hospital do?

Join us for this informative webinar, as we explore viable reimbursement models for your organization including:

Converting to a prospective payment system (PPS) hospital
Considering other Medicare PPS programs
Using financial performance metrics to evaluate your options

In this webinar, we’ll discuss how participating in a claims-level financial and reimbursement analysis can help you understand and determine your future reimbursement model options. We’ll walk you through a case study in which we combine a hospital’s billing data with key components of its Medicare cost report to provide financial analytics. You’ll see how the financial scenarios we generate are virtually limitless—from a high-level overview to a very detailed, in-depth analysis on the service or service line level. Plus, we’ll present these scenarios in layman’s terms, so you won’t need a background in finance to comprehend the data we present to you.

Listen to this webinar today to better understand your reimbursement options, brainstorm additional options, and more!

Goodwill Impairment Testing: Know the Fundamentals, Recognize a New Option

Wed, 12 Feb 2014 00:00:00 GMT

Subjecting goodwill to impairment tests so as to accurately reflect it on the balance sheet is an annual reality for many of today’s private companies. Meeting that requirement is often a time-consuming process.

The Financial Accounting Standards Board addresses how goodwill should be accounted for. FASB ASC 350 (formerly SFAS 142), Goodwill and Other Intangible Assets, provides a two-step process to test for and measure impairment of goodwill and other non-amortizing intangible assets. A more recent FASB update (ASU 2011-08) gives companies the option to conduct a qualitative assessment and potentially forgo the current two-step process.

Now, the FASB Private Company Council (PCC) provides another alternative that could actually save time and money (ASU 2014-02).

Fair value is defined in FASB ASC 820 (formerly SFAS 157) as, “The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” Carrying value is the book value on the balance sheet as of the test date.

Which method should your company elect? This article may help answer that question.

How to Manage Your Property Tax Liability

Wed, 05 Feb 2014 00:00:00 GMT

Property taxes are one of the largest recurring operating expenses associated with real property ownership. In addition, owners are often unaware of how their commercial property is valued by the local assessing authority. Property tax is the only tax subject to annual reviews, revisions, and negotiations.

For these reasons, it is imperative for business owners to understand the property tax assessment process and to regularly review assessments to determine if your property is fairly assessed or subject to excessive taxation.

Proactive management of your property tax liability can greatly impact your bottom line and positively affect profitability. Join us for this informative webinar as we provide insights on the following key areas and focus on what you need to know:

High-level overview of valuation methods and techniques used for estimating fair market values
Significance of external data sources such as sales comparables and market demand and how they affect the value of your property
Property tax assessment trends
Importance of reviewing assessments during times of economic change (depreciating and appreciating markets)
When and why a property tax appeal may be necessary
Tips for navigating the assessment review and appeal process

Who should attend?

This webinar is intended for commercial property owners, business executives responsible for paying property taxes, CEOs, CFOs, and others in your organization looking to gain valuable insights into property tax liability management.

Concierge Medicine in the Age of Health Care Reform

Thu, 04 Apr 2013 00:00:00 GMT

The term concierge medicine, coined in the 1990s, was controversial. It evoked fears of a two-tiered health care system in which only the wealthy were given preferred access and the poor had to wait.

Some of these arguments are still present as worries about primary care access grow amid expected physician shortages and 30 to 40 million newly insured patients entering the market through health care reforms. However, the concierge concept is getting a second look these days by independent physicians looking for a lifeboat to remain independent. It is also useful to recognize that some of concierge medicine’s most fundamental elements are already incorporated into the value-based payment methods being pursued by Accountable Care Organizations (ACOs).

Concierge medicine’s elitist image of the past is changing. Various stakeholders have a renewed interest in attributes of concierge medicine, including: 1) providers looking for a sustainable practice model from both a financial and lifestyle perspective, 2) patients wanting more personalized care at an affordable price tag and 3) payers and health systems seeking to reduce costs via improved population health.

Enhancing the Customer Experience and Increasing Profitability With CRM Technology - Recorded Webinar

Tue, 02 Apr 2013 00:00:00 GMT

With today’s economic climate and razor-thin margins, equipment manufacturers need to optimize every aspect of the customer life cycle. Many organizations are challenged with effective management of after-the-sale support. And the more complex the equipment, the bigger the challenge is. Lack of accessibility to complete customer, product/equipment, and warranty information can make it nearly impossible to optimize the customer experience and maintain profitability.

During this webinar, you will discover how you can move from silos of data, spreadsheets, databases, and random e-mails to having integrated, accessible customer life cycle information across your entire organization. Expected results such as improvements in productivity, reductions in errors, enhanced customer sales and service, and opportunities for stronger performance are addressed.

Learning objectives:

Understand how CRM technology can manage the complete customer life cycle from sales, production, and delivery to service after the sale.
Learn how you can streamline and automate a wide range of processes to better manage after-the-sale customer service and maximize service profitability.
See firsthand how Wipfli Connect for Manufacturing, a CRM solution built on Microsoft Dynamics® CRM, can put information in the hands of those who need it, when they need it, for real-time decision making.

What to Expect—2013 Wipfli National Training Conference - Recorded Webinar

Wed, 20 Mar 2013 00:00:00 GMT

To keep your funding and your doors open, you need to comply with the strict federal regulations. The Wipfli National Training Conference provides multiple sessions with detailed—yet easy to understand—information to help you comply with the regulations and manage your nonprofit even better.

The 2013 conference will provide you with:

Impactful compliance training
Best practices you can implement today
Real-life examples from nationally recognized trainers
Opportunities to interact with your peers

The conference is led by trainers who work with organizations like yours every day and offers interactive sessions, dialogue with your peers, and the opportunity to ask your important questions. Our nationally recognized trainers will provide you with the most comprehensive curriculum for professionals in nonprofit organizations.

Tips for Revising Your Physician Compensation Plan - Recorded Webinar

Wed, 20 Mar 2013 00:00:00 GMT

This webinar was recorded March 20, 2013

With the shift from fee-for-service reimbursement models to value-based structures, payers are beginning to reward accountability for clinical quality, population health, cost reduction, and patient experience. Similarly, physician compensation plans that pay clinicians exclusively for volume are evolving to incorporate incentives for improved outcomes and exceptional patient experience. Failure to make the changes necessary to move from volume to value could jeopardize the viability of health care organizations.

A solid compensation plan should incentivize physicians to redirect their efforts toward patient centricity and the shared goals for the practice beyond mere volume. Join us for this webinar as we discuss both the value and potential risks of transitioning your compensation model to meet the market demands of health care reform. Learning objectives include:

How to transition from volume- to value-driven compensation models, taking into consideration regulatory and compliance issues
How to view physician compensation plans as a strategic tool to improve the performance of the organization
How to incorporate quality metrics and patient satisfaction to guide physician payment incentives
How to build financial incentives to recognize and encourage productivity as well as active participation in administration, strategy and operational improvement initiatives
How to incorporate lessons learned from health systems and hospitals who use health care reform-minded models already

So Why Are You Doing This? Keys to Selecting New Core System Software - Recorded Webinar

Wed, 20 Mar 2013 00:00:00 GMT

This webinar was recorded March 20, 2013

Your current policy, billing, and claims core systems have served you well for 15 or 20 years, but like many in the industry, you find that they are constraining your business. These projects are hard and not done very often, so it is critical to start out right. Understanding “why” is the first key. What business needs are not fulfilled by the current system? That knowledge can guide the search. This webinar will suggest a practical approach to software selection. The presenters have frequently guided insurance companies in selecting software, and we will share what our collective experience has taught us.

We will discuss:

Keys to a successful hunt—what to bring and what to leave behind
How to hone in on what is most important
An Agile approach to software selection
The business and technology partnership
Determination of your success criteria
Commitment
Making the best choice and useful byproducts of the selection process—and the chosen software is only one of them!

The Devil Is in the Details

Thu, 07 Mar 2013 00:00:00 GMT

If highly trained NASA scientists and engineers can make costly mistakes, your project team can too. Avoid disaster with six project management lessons from a real catastrophe.

Movies about space missions that result in catastrophe can teach us a lot about how not to manage a project (the “successful failure” of Apollo 13 comes to mind). Yet there are actual space mission catastrophes—the loss of the 1999 Mars Climate Orbiter (MCO), for example—that also offer valuable lessons in preventing fundamental mistakes.

Buyer Beware: Section 382 Limitations to Tax Carryforwards

Fri, 01 Mar 2013 00:00:00 GMT

Corporations that are contemplating ownership changes and/or looking to acquire existing corporations need to be aware of Section 382 and the potential limitations associated with it, especially when the target corporation has significant NOLs and built-in losses. A corporation’s use of NOLs and built-in losses after an ownership change is limited annually by Section 382. Because the use of these tax attributes is limited, they may expire unused under the NOL carryforward rules. Buyers and sellers need to understand the implications of Section 382 on a potential business combination so that the value of the loss corporation is adjusted accordingly.

FASB’s New Proposal for Measuring and Reporting Credit Losses

Fri, 01 Mar 2013 00:00:00 GMT

On December 20, 2012, the Financial Accounting Standards Board (FASB) released for comment a proposed Accounting Standards Update (ASU) titled Financial Instruments—Credit Losses (Subtopic 825-15). The proposed ASU would require institutions to evaluate impairment of all financial assets not accounted for at fair value (“financial assets”), including debt securities and loans, based on the current estimate of contractual cash flows not expected to be collected on financial assets held at the reporting date.

Is the Board of Directors Receiving Accurate and Appropriate Information?

Fri, 01 Mar 2013 00:00:00 GMT

The reports provided to the board of directors are used to make important decisions regarding the direction of the financial institution. These reports are received by the board, analyzed, and used to develop appropriate steps to move the financial institution toward achieving its goals. Inaccurate reports could lead to incorrect conclusions and decisions regarding the financial institutions future.

Takeaways From Recent Bank Secrecy Act Enforcement Actions

Fri, 01 Mar 2013 00:00:00 GMT

The U.S. Department of the Treasury made history in December 2012 with the largest collective settlement in the department’s history. The settlement, totaling $875 million, was reached with HSBC Holdings plc (the U.K. holding company of HSBC Bank USA N.A.) regarding alleged violations of the Trading with the Enemy Act and the Bank Secrecy Act (BSA). The announcement comes in the wake of another high-profile enforcement action. The First Bank of Delaware was assessed a civil money penalty of $15 million, which amounted to nearly half of the bank’s total equity capital, for failure to adequately address BSA risk. The bank ceased operation in November 2012.

The Pulse of Banking M&A: 2012

Fri, 01 Mar 2013 00:00:00 GMT

The wave of activity that has been promised and predicted by just about everyone has yet to materialize, much less crest. While many are still talking, talk is all there is for the moment.

Physician Compensation: Crossing the Chasm from Volume to Value

Fri, 01 Mar 2013 00:00:00 GMT

We are in the midst of a monumental move away from the predominant fee-for-service reimbursement models in favor of structures that pay for value in health care. While fee-for-service reimbursement is expected to be a part of how health services are reimbursed for the foreseeable future, payers are beginning to reward accountability for clinical quality, population health, cost reduction, and patient experience. Physician compensation plans that pay clinicians exclusively for volume are evolving to incorporate incentives for improved outcomes and exceptional patient experience. Failure to incorporate these incentives could jeopardize the viability of provider organizations, whether large health systems or small independent practices.

Traditionally, physician compensation plans may have been viewed merely as a formula for dividing the physician compensation pie into individual slices. More recently, many health care organizations have found benefits in viewing their physician compensation program as a strategic tool to maintain or grow the size of the compensation pie by aligning incentives with key strategic initiatives. Organizations should be mindful about how their physician compensation plan can help their business stay relevant and nimble in the face of sweeping payment reform. If current strategic plans and/or compensation models are in conflict with the direction of health care reform, they must be updated.

Managing Your Tax Burden Through Accelerated Depreciation and Energy Deductions - Recorded Webinar

Wed, 27 Feb 2013 00:00:00 GMT

Many manufacturers purchased an existing property, constructed a new building, built out leasehold improvements, or renovated a building over the last 10 years. Because of the downturn in the economy since 2008, manufacturers, like most business taxpayers, had no need to accelerate their depreciation. However, as we come out of 2012 a lot of manufacturers are finding they need more depreciation to offset last year’s profits.

Cost segregation studies can help a company manage its annual tax burden through the proper classification of assets. Properly done, a study can result in additional accelerated depreciation deductions for tax advantages and improved cash flow.

This informative webinar that will provide you with a better understanding of the value of cost segregation and energy efficiency studies for your manufacturing facility. In addition, you’ll learn how easy it is to go back in time to do a catch-up cost segregation or energy efficiency study and capture all of the accelerated depreciation in the 2012 tax year.

Sage 100 Fund Accounting Newsletter – 1st Quarter 2013

Tue, 26 Feb 2013 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

Online Guides
Automating Reports with the Scheduler Module
Tech Tip

Manufacturers and Their Customer Relationships: Sales and Service Activities are Complicated, but They Can Be Simplified

Tue, 19 Feb 2013 00:00:00 GMT

For product/equipment manufacturers, managing the complete customer life cycle from sales, production, and delivery to service after-the-sale is challenging to say the least. Putting information in the hands of those who need it, when they need it is a must for any chance of success. That was the thought behind Wipfli Connect for Manufacturing, a CRM solution built on Microsoft Dynamics® CRM. From targeted marketing and prospecting, to qualifying, quoting and closing the business, through production visibility, delivery and service after-the-sale, Wipfli Connect for Manufacturing creates one simple-to-use interface across your entire enterprise. Eliminate the hunt for information…read on to learn more.

Patient Protection and Affordable Care Act (PPACA) Employer Mandate/Shared Responsibility Rules and Penalties

Thu, 14 Feb 2013 00:00:00 GMT

All employers are subject to the PPACA – private, public, non-profits and churches are all included. Our flow chart and information helps you determine the applicability of the Employer Mandate for YOUR business.

Concrete Terms — February 2013

Tue, 05 Feb 2013 00:00:00 GMT

General Condition Costs: How to compare, monitor, and negotiate the “black hole” of construction costs.

Contractors realize most of their customers do not understand which costs are included in General Conditions. Each contractor defines General Condition costs differently, making it even more confusing.

In a cost-plus fee project, contractors have an incentive to shift office overhead costs to General Condition costs as a method of increasing profit. Non-project costs become billable costs by inserting them in General Conditions. A contractor might also categorize some of the General Condition costs as direct costs to increase profit. Shifting costs out of General Conditions gives the appearance that General Conditions are lower, though the total project costs do not change.

Concrete Terms was created to give busy construction and real estate attorneys quick and practical information they can use to serve their clients.

Information Security: Fundamentals for Successful Security Program Management

Fri, 01 Feb 2013 00:00:00 GMT

It seems almost weekly there’s news of a security breach at a hospital or health care facility. Laptops are stolen or lost. Patient information is mishandled. Desktop computers are left vulnerable to malicious software or unauthorized access. The regulatory, legal, and reputational stakes are high for those health care organizations that find themselves confronted with an incident, while the public consequences are higher still.

There’s no better time than now to ensure your organization is mitigating the growing list of risks and threats to information security. This article looks at several leading types of health care breaches and reviews the core tenets of a successful information security program.

Governance Members’ Roles and Responsibilities

Tue, 29 Jan 2013 00:00:00 GMT

From expanding community need to reduced funding to regulatory scrutiny, the pressure has increased on nonprofit governance. Today’s boards of directors for nonprofit organizations face a mountain of industry challenges, all of which drive the importance of more proactive and prudent governance. This two-part series highlights some of the key points of governance and serves as a brief but practical review of the elements necessary for good stewardship and overall risk management.

The Governance Factor: Is your board on board?

Tue, 29 Jan 2013 00:00:00 GMT

Reaping Rewards With Sustainability in Small to Mid-Sized Manufacturers

Mon, 28 Jan 2013 00:00:00 GMT

Until recently it seemed that sustainability business practices were reserved for large manufacturers. However, companies of all sizes have started to successfully implement sustainability programs and are reaping economic and social rewards as a result. The bottom-line benefits of creating a culture of sustainability are real in terms of profit, market share, corporate reputation, and employee loyalty and retention. This white paper encourages small to mid-sized manufacturers to integrate sustainability into their business strategies. It offers ideas on the initiatives to consider and the pitfalls to avoid when implementing a program in order to create true business value for the long term.

Insurance and Manufacturing: Lessons in Software, Systems, and Supply Chains

Mon, 28 Jan 2013 00:00:00 GMT

Summary: By comparing insurance to manufacturing, companies can glean valuable insights on getting lean and agile with insurance product life cycle management.

Recently, my boss Steve and I were talking about his early career days with one of those Big 8, then Big 6, then Big 5, then Big 4 intergalactic consulting firms. Steve came out of college with an engineering degree, so it was natural to start in the manufacturing industry. Learning about bills of material, routings, design engineering, CAD/CAM . . . “Ah yes,” he recalled, “Those were heady days.” And all those vendor-packaged manufacturing ERP systems that were starting to take the market by storm.

Understanding the Impact of the 2013 Changes in the Medicare Payment System - Recorded Webinar

Thu, 24 Jan 2013 00:00:00 GMT

This webinar was recorded January 23, 2013

The 2013 Medicare Physician Fee Schedule final rule was published on November 16, 2012, in the Federal Register. With more than 1,300 pages, it’s a daunting task to read and interpret on your own. In addition, Congress is expected to make subsequent changes to the final rule prior to implementation on January 1, 2013. Let Wipfli help you make sense of the newest regulations affecting Medicare reimbursement for physician services. In this webinar, we’ll provide you with the following:

An overview of the Medicare final rule and key changes
Physician specialties most affected by the 2013 Medicare fee schedule
Update on the 2013 CF
DME face-to-face encounters
Value-based payment modifier initiative
Key coding changes (transitional care, preventive services, psychiatry, and more)

In addition, we’ll update you on 2013 OIG work plan items affecting physician groups, including hospitals that own and operate them.

Preparing for Provisions of Health Care Reform

Wed, 23 Jan 2013 00:00:00 GMT

Preparing for the Provisions of Health Care Reform will review:

Review of How We Got to This Point
What Employers Need to Know From Now Until 2018
- Short-Term Compliance and Planning
- Long-Term Compliance and Planning
What Employers Need to Do From Now Until 2018

Taking Advantage of Research and Development Tax Credits - Recorded Webinar

Tue, 22 Jan 2013 00:00:00 GMT

Many manufacturers overlook a tax incentive for research and development (R&D) activities because the tax law is so complicated. Others assume they are not large enough to qualify or simply do not view the activities they do as R&D activities.

Whether you are developing new or improved products or are a contract manufacturer producing parts or equipment to customer specifications, there’s a good chance you’re eligible to receive R&D tax credits for activities you do every day. In addition, not only can product development and improvement activities qualify for the R&D tax credit, but so can process development and improvement activities.

In this webinar, you’ll learn how to identify the types of activities and expenditures that can qualify for the R&D tax credit and how this can benefit your company by reducing the current and future cash outlays for taxes and potentially generating refunds for taxes previously paid. We will also address how the credits can generate cash flow even if the economy has negatively impacted your business and profitability is down. A key takeaway will include a review of the recommended documentation to substantiate the activities and expenses qualifying for the credit.

Innocent Spouse Relief: How IRS’s Softened Stance Can Affect Divorce and Post-Divorce Clients

Tue, 22 Jan 2013 00:00:00 GMT

The marriage vow “for better or worse” has long included the potential, unforeseen consequences of the jointly filed tax return. Filing a joint return creates an irrevocable election by each spouse to be jointly and severally liable for tax reported or reportable on the return. Even after divorce, each party’s statutory liability remains.

Getting relief from tax, interest, and penalties is no easy feat despite circumstances where spouses have no knowledge of understatements or underpayments or no financial control. Even for many spouses in abusive relationships, the IRS has remained steadfast in its enforcement.

Public Company Q&A: What are best practices for responding to SEC comment letters?

Thu, 17 Jan 2013 00:00:00 GMT

What are best practices for responding to SEC comment letters?

You just received a 10-page comment letter from the Division of Corporate Finance (DCF) of the SEC on a review of your most recent 10-K filing. What should you do?

Next Generation ERP Deep Dive Featuring Warehouse Management Efficiency - Recorded Webinar

Fri, 11 Jan 2013 00:00:00 GMT

A warehouse management system (WMS) is a key part of the supply chain and primarily aims to control the movement and storage of materials within a warehouse. During this deep dive session, presenters will explore how you can mobilize Microsoft Dynamics AX functionality in your warehouse to further automate the movement and storage of materials.

Join us to learn more about improving your warehouse efficiency through:

Mobile device options
Advanced warehouse functionality
Robust management functionality
User-friendly webclient and dashboards
Advanced logistics

This is the second of a two-part session on warehouse management. Part one addressed inventory setup, inventory storage, item pick and ship, quarantine management, and quality management. Click here to view webinar recording on warehouse management part one.

Health Care Trends and Issues for 2013

Wed, 09 Jan 2013 00:00:00 GMT

In 2013 and for the next several years to come, the overarching trend and strategy for health care delivery systems around the country will be clinical integration across the care continuum as efforts to achieve the Triple Aim of cost and quality of care, exceptional patient experience, and population health management accelerate. And while the pace of clinical integration will vary from market to market, particularly between rural and urban areas, common challenges will be faced and tactics will be pursued.

Bank and Holding Company Stock Buybacks: Being Vigilant About Value

Tue, 01 Jan 2013 00:00:00 GMT

We recently were the bearers of bad news to a bank client’s board of directors. We had to tell them that their stock, determined on a minority, nonmarketable basis, was not worth 160% of book value— the price at which they had been redeeming stock. “How,” they asked, “could our value decrease when we are still profitable and our book value has gone up?”

The 2010 Health Care Act Creates a New Tax Starting in 2013

Tue, 01 Jan 2013 00:00:00 GMT

Beginning January 1, 2013, the 2010 Affordable Care Act creates a new Medicare contribution tax on net investment income for individuals, trusts, and estates. For individuals, the tax is imposed when individuals have income greater than $250,000 for married filing jointly taxpayers or $200,000 for single taxpayers. The 3.8% tax is the lesser of the net investment income or the excess of the taxpayers modified adjusted gross income over the threshold. What is "net investment income" and what is "modified adjusted gross income"?

The Benefits of Tax Engineering for Cost Segregation and the 179D Energy Efficient Tax Deduction

Tue, 01 Jan 2013 00:00:00 GMT

Cost Segregation

A cost segregation study is an in-depth, engineering-based analysis of the costs associated with the acquisition, construction, or renovation of a building.

To Automate or Not to Automate – That is the BSA/AML Question

Tue, 01 Jan 2013 00:00:00 GMT

We are close to ten years since the enactment of the USA PATRIOT Act and many financial institutions, as well as regulators, are finding that using basic reports from core processing systems is becoming less effective and more cumbersome as people get smarter in how they launder money. Regulators are starting to push smaller financial institutions toward automating the process of gathering the data into a usable report structure.

Troubleshooting Some Loan Accounting Issues

Tue, 01 Jan 2013 00:00:00 GMT

Accounting for loans can be troublesome in many respects, especially when financial institutions must address issues not encountered on a regular basis. Wipfli has published various articles on nonaccrual loans, troubled debt restructurings, and other real estate over the past several years, but we thought it might be helpful in this newsletter article to bring together some of the more frequently asked questions in these areas.

Your TISA Disclosures Deserve Another Look - The Rest of the Story

Tue, 01 Jan 2013 00:00:00 GMT

In November we told a story of a bank with a situation on its hands that would have made any one of us anxious.

Basically, bank management received the news that none of us would have wanted to hear. “Yes, the finding from our recent exam is reimbursable. ‘Voluntarily’ reimbursable, of course."

This bank will have to look back six years for charges it imposed on its customers for being continuously overdrawn. The reason for reimbursement is because the bank’s Truth in Savings Act (TISA) disclosures did not adequately contain the information the customer needed to understand what a continuous overdraft fee was or when it would occur.

Global Cash Flow - Know Your Customer

Mon, 31 Dec 2012 00:00:00 GMT

Underwriting the primary entity that provides the source of repayment is essential to any cash flow analysis. Many borrowers own more than one entity and have credit relationships with more than one financial institution. These additional entities and credit relationships add layers of complexity to the analysis of the borrower’s financial position. Lenders need to fully understand the demands on cash and the potential constraints to access the cash to support the debt in underwriting these complex credit relationships.

Keeping Information Secure: From Vulnerability Assessments to Penetration Tests

Mon, 31 Dec 2012 00:00:00 GMT

Assessing the level of security risks and evaluating the adequacy of an organization’s risk management are keys to protecting information assets. Part of robust management includes the need to conduct vulnerability assessments and/or penetration tests. Knowing the difference between the available tests and their benefits can help your organization maintain its security confidence and compliance. This paper explores the range of commonly performed tests and the factors needed for success and outlines some key recommendations for testing.

Navigating Year-End Tax Planning in Uncertain Waters - Recorded Webinar

Fri, 21 Dec 2012 00:00:00 GMT

In recent years, year-end tax planning for businesses has been complicated by uncertainty. Last-minute tax bills have been the norm, and this year is no different. The transition from 2012 to 2013 has the potential to bring dramatically different tax rates and deductions. Will we or won’t we have a tax bill by December 31, 2012? What happens if tax legislation changes during 2013 are retroactive to January 1, 2013?

With the end of the year rapidly approaching, now is a critical time for you to focus on how to make the most of tax changes for 2012 and anticipated tax changes for 2013.

Throughout this webinar, we will identify potential year-end strategies for businesses and owners that exist in light of the major tax changes currently scheduled to take effect in 2013 and remind you of traditional year-end planning opportunities. Highlights will include:

Fiscal Cliff or Curve – What does it mean to you, and how will it impact your business?
Planning for Asset Purchases – This year or next?
Status of Tax Credits
Implementation of the Affordable Care Act
Payroll Update

Next Generation ERP Deep Dive Featuring Warehouse Management - Recorded Webinar

Fri, 14 Dec 2012 00:00:00 GMT

A warehouse management system (WMS) is a key part of the supply chain and primarily aims to control the movement and storage of materials within a warehouse. Transactions are the backbone of warehouse management and include shipping, receiving, putting away, and picking.

Join us for this information-packed, deep dive session to learn more about:

Physical and logical setup of inventory
- Not all items are equal, and they do not need to be treated as such
Physical receipt and storage of inventory
- Receiving inventory into the facility, then determining where to store or stage for future use
- Optimizing put-away based on bin location or size
- Improving efficiency with cross-docking
Item pick and ship
- Creating picking routes to support efficient order fulfillment
Quarantine management
- Keeping received inventory in a state where it can be inspected before being considered in the mainstream of available inventory
Quality management
- Performing specified quality tests on incoming inventory and assigning dispositions that move inventory into available status or a blocked status

This is the first of a two-part session on warehouse management. Part two will be presented in January and will dive deeper into the utilization of bar codes, hand-held devices, and radio frequency technology to further automate the movement and storage of materials.

Evolving Health Care Delivery: The Cultural Imperative

Fri, 07 Dec 2012 00:00:00 GMT

The fusion of major changes in the U.S. health care delivery system carries the potential for organizational meltdown. If delivery system leaders can recognize the fundamental changes to assumptions, behaviors, and systems required of their organization, it is possible to transform the culture and organization, and move successfully into the next generation of profitable, patient-centric health care. If they fail to properly handle the caustic elements of the change at hand, the chain reactions may be fatal.

In March 2010, the U.S. health care delivery industry experienced a system-wide “wake up call” when decades of uncontrolled cost increases, advocacy for process over clinical outcomes, and too much focus on fixing sickness versus maintaining wellness culminated in the Affordable Care Act (ACA). Adherence to Medicare CMS’s “triple aim” definition of an exceptional patient experience while lowering the cost per episode of care and maintaining the health status of a defined population is the new strategic/operational focus.

This article examines how a fundamental change in clinical culture will be necessary to achieve a new normal of patient-centered care—integration of processes into episodes of care (outcomes) with exceptional patient experiences. Leadership needs to embrace this kind of transformation in order to remain sustainable and relevant. Proactive reform requires the clinical integration of the preventative, diagnostic, and treatment services to a given population via a lower cost model that enhances desired outcomes, e.g. the “right care” at the “right time” in the “right setting” at the “right cost” with the “right outcome.”

Software Asset Management: Is your company prepared for a surprise audit?

Tue, 04 Dec 2012 00:00:00 GMT

Most companies run on lots of software. As a Microsoft® user, you accepted Microsoft’s terms and conditions when installing the software. (Remember that long list of legal writing that no one reads but simply accepts by clicking the “yes” button?) Part of such terms and conditions allow Microsoft® to conduct a review of installed licenses and compare them to the number of purchased licenses.

Sage 100 Fund Accounting Newsletter – Year End 2012

Mon, 03 Dec 2012 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

Introducing Sage Fund Accounting Version 2013
Common Year-End Questions
Tips for Closing the Fiscal Year

Senior Living Industry Trends and Health Care Reform -Recorded Webinar

Thu, 29 Nov 2012 00:00:00 GMT

This webinar was recorded November 29th, 2012.

Despite the economic and reimbursement challenges the senior living industry faces, the future of senior services and housing is bright. The growth of the 75-and-over population will dramatically increase over the next 10 years. The Minnesota senior living market continues to evolve in response to demographic trends and the uncertainties arising from health care reform. Although the Supreme Court has spoken, the debate over implementation of the Affordable Care Act will continue. No matter what ultimately comprises “health care reform,” the senior living industry will need to pursue business decisions and actions that position it to respond to these challenges.

In this webinar, we will provide an overview of senior living industry trends and health care reform’s effects on the senior living industry. Learning objectives include:

Gaining insight into population trends and projections, as well as future senior housing demands
Understanding current trends impacting consumer demand for senior housing and services
Increasing knowledge about health care reform and response strategies for senior housing and long-term care operators

International Tax and Reporting Considerations - What You Need to Know - Recorded Webinar

Tue, 27 Nov 2012 00:00:00 GMT

U.S companies doing business abroad face an array of international tax planning and reporting challenges. Tax codes and regulatory requirements are confusing at best. While the international tax and reporting regulations imposed on U.S. entities can be daunting, they can also be managed if careful planning consideration is undertaken. Join us for this informative webinar as we provide insights on key areas and focus on what you need to know.

Overcoming Newton’s Laws

Wed, 21 Nov 2012 00:00:00 GMT

Summary: Change is the only constant…but change is undeniably hard. To change successfully, organizations must overcome Newton’s laws or, rather, use the laws to their advantage. Technology and technology disciplines can help. Eight change-management steps can help ensure success.

What’s in a Name — When a Joint Venture is a Partnership - Part 2

Wed, 21 Nov 2012 00:00:00 GMT

In Part I of this two-part series, we discussed the popularity of joint ventures in the construction industry and how construction companies can determine when a joint venture they are part of rises to the level of a partnership. These construction joint ventures were compared to the Saturday morning cartoon series “Justice League.” Why? Because within the Justice League superheroes such as Superman, Batman, and Wonder Woman would come together to address a common purpose. Contractors come together in a similar fashion to effectively address projects that might be too complex or risky for any one contractor to address.

The complexities and risks associated with some joint ventures go well beyond the project site. For example, a myriad of complex tax issues often accompany the intentional or unintentional formation of a joint venture that rises to the level of a partnership for tax purposes. In Part II we will discuss what tax issues face a joint venture once it has been determined that a partnership exists for federal income tax purposes. All of the items to be discussed are identified as potential tax issues by the Internal Revenue Service.

What’s in a Name — When a Joint Venture is a Partnership - Part 1

Wed, 21 Nov 2012 00:00:00 GMT

Joint ventures can be an effective way to grow business while controlling risk; however, they should not be entered into without considerable thought.

Many of us likely remember the Saturday morning cartoon series “Justice League.” In it, superheroes such as Superman, Batman, and Wonder Woman would come together to address a common purpose or foe. This roster of superheroes would work in cooperation to address challenges that none by themselves could overcome. Working together as a team, they were able to leverage each other's unique skills, experiences, and knowledge. In essence, the Justice League was a joint venture.

Facility Modernization Webinar Recording

Fri, 16 Nov 2012 00:00:00 GMT

This webinar was recorded on November 13, 2012.

Below is a link to the recording of the webinar Wipfli co-presented with the Wisconsin Center for Assisted Living, a division of the Wisconsin Health Care Association, describing and explaining recently modified property payment provisions included in the 2012-13 Nursing Home Medicaid payment formula, and how they can be used to enhance the physical environment of residents as well as their quality of life.

Next Generation ERP Deep Dive Featuring Managing Products Within Your Organization - Recorded Webinar

Thu, 15 Nov 2012 00:00:00 GMT

Some organizations choose to manage products in a centralized fashion, while others choose a decentralized approach. Does your ERP software support either approach?

Many organizations have multiple warehouses in different areas of the country or world and must deal with a single product with different costs (possibly because of freight or manufacturing cost). Do you find it a challenge to manage the same item with different cost factors within one entity?

Also, elapsed time from initial product creation to the time a product can actually be acquired, made, used, and sold may be substantial. How do you manage products in this initial stage of life cycle?

If you have an entity that focuses primarily on distribution and another entity that produces products, how efficient is the product management of the same product as a sell type in one entity and a produced type in another entity? In this situation the same product would have different properties based on the selling or producing entity. Does your ERP software support this type of intercompany product management?

This webinar is designed to help you learn more about product management concepts and tools available in Microsoft Dynamics^® AX that can support your current processes and procedures.

Creating a Competitive and Defensible Pricing Strategy

Fri, 02 Nov 2012 00:00:00 GMT

Developing an effective pricing strategy is critical for today’s health care providers. Replacing annual across-the-board price increases with a defensible and competitive pricing strategy requires the ability to leverage market business intelligence (BI).

This article explores the fast and accurate opportunities for developing pricing at the service level using the BI tool QlikView with Wipfli’s pricing build-out application. Moving to a more sophisticated and speedy approach based on analyzing local and regional claims data can help providers establish pricing that improves profitability and supports transparency.

Current Sales and Use Tax Issues for Financial Institutions in Minnesota

Thu, 01 Nov 2012 00:00:00 GMT

As discussed in July’s newsletter, financial institutions are generally thought of as a service industry and services provided by financial institutions are typically not subject to sales taxes in most states. Financial institutions in Minnesota have traditionally had taxable sales in the regular course of business on items like coin sets, gold and silver bullion, premiums such as toasters and blankets, and surplus business equipment. However, a myriad of sales tax issues can arise in the area of repossessed assets and their subsequent sales to customers, in addition to use tax issues on vendor purchases used in the general course of business.

Goodwill Impairment Testing: From Simple Standards to Complex Compliance

Thu, 01 Nov 2012 00:00:00 GMT

For today’s banks, meeting the requirement for goodwill impairment testing can be a time-consuming process. Specifically, goodwill of a reporting unit should be tested at least annually.

FASB ASC 350 (formerly SFAS 142), Goodwill and Other Intangible Assets, includes a two-step process to test for and measure impairment of goodwill and other non-amortizing assets. But a recent FASB standard gives companies the option to conduct a qualitative assessment and potentially forego the required two-step process. Could your bank elect the option? Should it?

Minimizing Remote Deposit Capture Risk

Thu, 01 Nov 2012 00:00:00 GMT

Remote deposit capture (RDC) is gaining in popularity as a way for account holders to streamline daily operations and enjoy more timely access to their deposited funds. These accounts are generally more risky than standard transactional accounts since the account holder maintains sensitive information at their location and there is less oversight of the deposited items. However, knowing your account holder and knowing the capabilities of your RDC software can greatly minimize these risks.

No Consumer Complaints – Think Again

Thu, 01 Nov 2012 00:00:00 GMT

Many times when the management of a financial institution is asked to supply documentation of consumer complaints, the answer is, “we have none.” This can be pretty surprising to an auditor or examiner, especially in the current regulatory environment where the Consumer Financial Protection Bureau is soliciting consumer opinions on various topics, creating proposals, and/or requesting more information from consumers to create new regulations.

Your TISA Disclosures Deserve Another Look

Thu, 01 Nov 2012 00:00:00 GMT

When was the last time that you reviewed your TISA disclosures for compliance? I mean, really looked at and reviewed them?

Recently I received a phone call from an anxious banker who just had the examiners on site, and they were questioning an item contained within the bank’s TISA disclosure. What was making the banker anxious? The examiners were actually considering whether the Bank should reimburse its customers as a result of their finding.

Year-End Tax Considerations for Contractors

Wed, 31 Oct 2012 00:00:00 GMT

With the combined federal, state, and local effective tax rate potentially well in excess of 40% for many contractors (and the combined effective rate possibly even higher in the future), it is important for contractors to understand how taxes impact their available cash flow.

There is still time for contractors to act as the end of the year approaches. This article will highlight 10 tax strategies that contractors should discuss with their tax advisors.

State and Local Tax Filing Issues: What You Need to Know to Be in Compliance - Webinar Presentation

Thu, 25 Oct 2012 00:00:00 GMT

Tax jurisdictions across the United States are becoming more aggressive in identifying business entities that are not filing the necessary returns including state/local sales tax, income tax, gross receipts tax, franchise tax, and withholding tax. States are desperately looking for revenue and have added additional resources to identify businesses that are not in compliance with state tax rules and regulations. Presenters will not only cover the criteria states use when determining whether a company has a requirement to file state returns, but also address the potential risks a company faces by not filing the necessary returns.

How the Expiration of the Bush Tax Cuts & the Imposition of New Health Care Taxes will Affect You - Recorded Webinar

Thu, 25 Oct 2012 00:00:00 GMT

In an election year, taxpayers typically can rely on two truisms. First, “nothing gets done during an election year.” Second, “when all is said and done, more is said than done.” The operation of these statements usually provides taxpayers with a respite from the rigorous task of planning for pending tax law changes. The dormancy of this election year, however, also threatens to push our fragile economy back into recession. As a result, taxpayers must be aware of the pending changes, be prepared to act accordingly (and proactively), and make informed decisions about their tax situations.

Tax professionals generally agree that income, gift, and estate tax rates and rules will remain favorable through the end of 2012. However, it is expected that taxpayers will experience significant tax rate increases beginning in 2013. These increases result from the expiration of the so-called “Bush tax cuts” and from several yet-to-be-implemented tax changes provided in the 2010 Health Care Act.

During this webinar we discuss the uncertain environment taxpayers and their advisors face, what will and may happen, and how to plan effectively. In particular, the following topics are addressed:

Review pending tax law changes that will increase tax burdens on all taxpayers as soon as January 1, 2013
Examine the potential impact of key provisions of the 2010 Health Care Act on your business this year and in subsequent years
Propose new and time-tested planning strategies for all taxpayers including ways to take advantage of the temporary $5.12 million transfer tax exemption
Provide practical, common-sense suggestions for you to implement before year-end

Next Generation ERP Deep Dive Featuring Procurement and Sourcing Management - Recorded Webinar

Fri, 12 Oct 2012 00:00:00 GMT

In the procurement and sourcing process you identify suppliers, onboard suppliers as new vendors, maintain vendor information, create agreements with your vendors, order items and services, maintain purchase orders, and confirm receipt of products.

Some organizations perform these processes utilizing standard procedures, while other organizations take advantage of software tools to support the processes.

Software tools exist to support:

Onboarding of new vendors. Requests are created, submitted and approved.
Vendor management. Identification of categories, products, services, and certifications may be a two-way collaboration supporting more efficient communication of the various needs required by both you and your vendors.
Vendor collaboration in the form of electronic notifications and questionnaires.
Requests for quotation (RFQ) electronically submitted to one or more vendors. Vendors may then register responses on a portal. A buyer then may transfer the accepted RFQ to a purchase order.
Self-service vendor portal.

Join us to learn more about procurement and sourcing tools and the functionality available in Microsoft Dynamics® AX that can support your current processes and procedures.

Capital for Rural Hospitals: Is the USDA Financing the Only Option Available Today?

Thu, 04 Oct 2012 00:00:00 GMT

For the nation’s rural hospitals, access to capital has become more vital than ever. Investments in modernization and expansions are commonly needed, fueled by health reform, technology advances, and market changes.

To access capital, health care organizations must identify and evaluate the complete range of financing options available while recognizing that not all options are created equal. Rather than just comparing interest rates, hospitals must carefully weigh the risks, costs, limitations, terms, and the advantages and disadvantages that come with each option.

This article provides a straightforward guide for assessing today’s lending options, allowing rural hospitals to select the best financing strategies for their organizations’ futures.

Weathering the Times: Non-Economic Factors Affecting Your Company’s Ability to Weather Tough Economic Times - Recorded Webinar

Tue, 25 Sep 2012 00:00:00 GMT

While economic and other business conditions affect companies in various industries differently than in others, why do certain companies within the same industry seem to fare better than others when fighting the headwinds of unfavorable business environments? The answer may lie in how attentive a company is to its day-to-day challenges during normal times.

Notwithstanding the economic uncertainties all businesses face today, business is more complicated today than at any time in history. The challenges faced by businesses during normal economic times can be overwhelming. Those companies that pay proper attention to these challenges during normal times are likely to fare considerably better during tough economic times than others in the same industry that have not addressed these issues.

In this webinar we explore how noneconomic factors either positively or negatively affect your company’s ability to weather tough economic times. The following areas will be addressed:

The connection between business strategy and business success
Complexities or inefficiencies within the business model
Complexities created by the competitive pressure to offer the consumer more choices
How the balance sheet is managed
Maintaining an appropriate control structure
Systems and reporting capabilities
Understanding the cost of your product and where value is derived from an organization

Debt as Alimony: From Hoodwinked to Tax Consequences

Wed, 19 Sep 2012 00:00:00 GMT

More often in recent years, couples are divorcing with substantial debt that cannot be easily refinanced. In many cases, the parties agree to hold properties as tenants-in-common while the properties sell or until the loan can be renegotiated.

This arrangement and the inability to refinance have several consequences to both parties—that is, the paying spouse (the individual paying the loan) and the nonpaying spouse. And it can have significant tax consequences if not addressed in the divorce settlement.

Next Generation ERP Deep Dive Featuring Sales and Marketing Management - Recorded Webinar

Fri, 14 Sep 2012 00:00:00 GMT

You experience customer relationship management (CRM) every day. You are the target of marketing messages and strategies from companies worldwide...e-mail messages in your inbox, flyers in your postal mailbox, advertisements in printed publications as well as advertisements on television, billboards and online.

CRM is not a definitive theory. It is concepts, ideas and strategies. Experts do not agree on all the fine-points defining CRM. However, all the definitions are centered on three driving disciplines:

Knowing your customer
Acting on what you know
Learning from what you know

Not only does CRM advocate growing your existing customer relationships but cultivating new relationships with prospective customers as well.

During this webinar you will learn more about CRM and see tools to support the following:

Sales Force Automation – how sales associates track and share information they learn about customers
Sales Management – how sales associates are performing with regard to planned customer contacts, number of quotations generated, and achieving sales goals
Marketing Automation – how to create and execute marketing campaigns via email or direct mail and how to track follow-up and results of campaigns.

Assessing the Impact: New DOL Fee Disclosure Rules for Retirement Plan Sponsors

Fri, 14 Sep 2012 00:00:00 GMT

Congress’ nonpartisan Government Accountability Office (GAO) recently revealed that half of U.S. employers didn’t know if they, or their plan participants, paid investment management fees for their 401(k), 403(b), profit-sharing, or other ERISA-covered retirement plans. Well they know now.

The Department of Labor (DOL) has been working on the issue of fee disclosures over the past two years and as of July 1, 2012, retirement plan service providers are now required to clearly disclose the fees they charge retirement savings plans for services like investment management, recordkeeping, administration, and others. Calculating fees can be complex because several companies may be involved in maintaining a plan, resulting in layers of fees that may be paid by the primary plan sponsor (employer) and the plan participants (employees in the plan).

Plan service providers should have already disclosed their fees to employers under the new disclosure rules, and employers were required to share them with their plan participants by August 30. Those that have done so may be fielding a barrage of questions from their employees. However, the real demand for answers may come this fall and many employers may not be prepared to provide answers.

ICD-10-CM “101” – Starting With the Basics - Recorded Webinar

Wed, 12 Sep 2012 00:00:00 GMT

This webinar was recorded September 12, 2012.

With uncertainty surrounding ICD-10 implementation, practices have been hesitant to begin training their providers and staff. Although an official date has yet to be announced, we think the proposed October 1, 2014, date is inevitable. The goal of this webinar is to begin your education and make your “kickoff” planning less overwhelming. We will provide you with a fundamental understanding of ICD-10-CM coding conventions and guidelines, with an overview of the development, organization, and changes in coding structure, including a high-level view of each chapter. In addition, we will cover how to use “General Equivalence Mappings” (GEMs) and discuss best practices for rolling out provider education to ease your implementation process.

The 3Rs of Effective Boards: Relationships, Roles and Responsibilities - Recorded Webinar

Thu, 06 Sep 2012 00:00:00 GMT

This webinar was recorded September 6, 2012.

The long-term care and senior-living markets are constantly evolving and changing. In the past 10 years, the industry has undergone a boom-and-bust period. Long-term care organizations are impacted by regulations, shortfalls in public funding, market forces, plus, they have a business to run.

Board-governed organizations are unique, the board of directors has the responsibility of ensuring the organization stays in compliance with its bylaws, evaluating the effectiveness of management, and ensuring the organization is carrying out its defined mission.

Board members and executive directors will learn about best practices of a board through a case study of a nonprofit organization that changed its entire governance structure in 2010.

Mapping the Future with Strategic Planning

Wed, 05 Sep 2012 00:00:00 GMT

The future is bringing big changes for long-term care providers. Two trends are absolutely certain: elderly population numbers will increase and so will longevity.

Other changes are happening now and will most certainly continue. Consumers are shifting their preferences in what they expect from long-term care delivery. Regulatory requirements are ratcheting up while the availability of qualified staff continues to shrink. Costs are rising, while margins are tight and getting tighter.

Without a strategic plan, how will your organization meet the emerging needs of your community? Please read the attached article to learn about the importance of developing a strategic plan to provide your organization with a map to achieve future success.

Borrowing Short and Investing Long

Sat, 01 Sep 2012 00:00:00 GMT

When economic conditions change, they impact financial institutions’ balance sheets and income statements. Management needs to assess the impact of external and internal factors. Over the past decade, these factors have had a more profound impact than in the past. Credit losses have stressed many institutions. We are now in a period of relative calm and institutions are rebuilding capital as they try to manage through loan losses in an orderly fashion.

Cloud Computing Risks and Associated Financial Institution Strategies for Risk Mitigation

Sat, 01 Sep 2012 00:00:00 GMT

A gradual shift in delivery of information technology (IT) services is occurring. Service providers and clients are beginning to take advantage of the many benefits outsourcing services to the Internet (cloud) provides. With the power of virtualization and improved bandwidth availabilities, service providers are now able to offer traditional in-house services such as electronic mail hosting, file storage, encrypted file transfer, and data backup via the cloud.

Lending Limits and Applying Combination Rules

Sat, 01 Sep 2012 00:00:00 GMT

When your best and largest customers approach you for a credit request, of course you want to respond quickly and with confidence. You do not want your legal lending limit to create a difficult barrier, and you certainly do not want to be unsure of how to proceed. Title 12 of the Code of Federal Regulations, Part 32.5 governs national banks on this often confusing topic.

The Importance of a Call Back for Wire Transfers

Sat, 01 Sep 2012 00:00:00 GMT

Wire transfer fraud continues to be a concern for all financial institutions. A recent example with which we are familiar involved a fraudulent wire transfer exceeding $80,000. Fortunately, because proper procedures were followed by the institution, insurance covered the fraud loss.

The Pulse of Banking M&A: 2012 Mid-Year Review

Sat, 01 Sep 2012 00:00:00 GMT

When the banking industry said goodbye and good riddance to 2011, there was considerable confidence that bank merger and acquisition activity would improve with the new year. Clearly, any movement would be a vast improvement over such a dismal 2011. Still, most believed the rebound would be much quicker and more fervent than it has been. Finally, the promise of increased deal activity in both numbers and values is here.

Sage Nonprofit Solutions Newsletter - 3rd Quarter 2012

Wed, 29 Aug 2012 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

FINANCIAL REPORTING IN SAGE 100 FUND ACCOUNTING
3 MYTHS OF ONLINE FUNDRAISING
SUBMIT YOUR PRODUCT ENHANCEMENT REQUESTS

Understanding the ‘Triple Bottom Line’ Rewards of Sustainability Business Practices - Recorded Webinar

Tue, 28 Aug 2012 00:00:00 GMT

Sustainable business practices aren’t just for large manufacturers. Companies of all sizes are successfully implementing sustainability programs and reaping economic and social rewards as a result. Sustainability can have a sizable impact on what’s known as the triple bottom line (TBL), a term coined in the mid-‘90s that puts people and planet measurements alongside profits. This webinar will expose you to an introduction of what sustainability is from a broader perspective and the key concepts behind implementing sustainable business practices.

Improving Assisted Living Financial Performance

Wed, 15 Aug 2012 00:00:00 GMT

Many assisted living facilities are owned by entrepreneurs who have combined a passion for serving others with a passion for being financially successful. Nonprofit assisted living providers also need to achieve financial success to remain viable. In this thought leadership paper, the steps to achieving financial success are outlined, including leveraging industry benchmark levels, setting goals, tracking performance against these goals, and making adjustments when performance lags targeted levels.

Next Generation ERP Deep Dive Featuring Business Intelligence and Reporting - Recorded Webinar

Mon, 13 Aug 2012 00:00:00 GMT

The value of a business system is not about putting transactions in; instead it is about turning those transactions into information—into business intelligence (BI) to support faster, better business decision-making.

Previous generation ERP solutions often required bolt-on business intelligence applications or programmers with a deep understanding of the database structure. With Microsoft Dynamics AX 2012, business intelligence tools are embedded into the ERP solution and designed with you, the end user, in mind thus providing complex analysis capabilities without the need for software development.

The business intelligence solution in Microsoft Dynamics AX 2012 uses the Microsoft Business Intelligence solutions. Analyze the factors that affect your bottom line with flexible and customizable analysis tools. Share information throughout your organization where appropriate to make effective changes and improvements.

During this webinar, we will review the following major areas:

Microsoft SQL Server Reporting Services – Gaining instant access to information with built-in, standard reports and automatically generating custom reports.
Microsoft SQL Server Analysis Server – Driving actionable insights to people across your enterprise using easy-to-use online analytical processing and data-mining capabilities along with pre-configured data cubes for key business areas.
Microsoft Office Add-Ins to exchange data between your ERP and Microsoft Office solutions such as Excel and Word.
Pre-defined role centers to present relevant key performance indicators, graphs, charts, reports, links, and work lists based on a user’s role within your organization.

Not-For-Profit Hospitals: Valuation Approaches and Issues

Wed, 08 Aug 2012 00:00:00 GMT

Merger and acquisition (M&A) volume within the health care industry is on the rise. According to industry sources, health care M&A spending during 2011 reached $227.4 billion, representing an 11% increase over 2010.

The passage of the Patient Protection and Affordable Care Act and the current shortage of physicians have been key drivers behind the trend. As reimbursements decrease and reporting requirements increase, not-for-profit (NFP) hospitals are looking to collaborate, affiliate, consolidate, acquire and merge. With the need to modernize facilities, implement electronic health records, and establish Accountable Care Organizations (ACOs), such transactions will continue to escalate.

M&A transactions involving NFP hospitals are unique because NFP hospitals are mission-based versus profit-based, answer to their communities instead of shareholders, and may face requirements to justify their tax-exempt statuses. In addition, the Stark Law and the concept of “fair market value” add to the complexity and all these issues require hospitals to proceed with care when entering into an acquisition or affiliation.

With such strict laws and regulations guiding what can be paid when purchasing an NFP hospital, how does a business valuation fit into the complex mix? How does one value an NFP hospital and why is a valuation of an NFP necessary when cash is not necessarily changing hands between two NFP entities? This article addresses these questions.

Transition Planning: How to Plan and Prepare for Transition of Ownership - Recorded Webinar

Mon, 23 Jul 2012 00:00:00 GMT

When the time comes to transfer ownership of your company, proper planning is critical to ensure the continuation of your company as well as a smooth transition. This webinar provides an overview on how to plan and initiate a program for business transition of ownership.

Compliance in a Global Economy: Know Your Anticorruption Risk

Tue, 17 Jul 2012 00:00:00 GMT

Since the enactment of the Foreign Corrupt Practices Act (FCPA) of 1977 and the recent 1998 amendments to anti-bribery provisions, much has changed for industry. Our world has gotten smaller, and companies that never dreamed of international commerce opportunities are now conducting business in foreign markets or are supplying bigger operations that do. In either case, being familiar with the FCPA and understanding anticorruption risk management is absolutely vital.

Next Generation ERP Deep Dive Featuring Application Overview - Recorded Webinar

Tue, 17 Jul 2012 00:00:00 GMT

Join us for this high-level, thought-provoking overview of Microsoft Dynamics® AX Next Generation ERP. The overview will highlight and address business opportunities and challenges typical in manufacturing and distribution companies. Major areas to be discussed include:

Order to Cash – Encompassing customer relationships, collaboration within your organization to insure customer satisfaction, multi-channel sales tools, and centralized collection management
Supply Chain Planning – Utilizing multi-mode replenishment techniques including kanban, discrete and batch production, purchase and intercompany
Product Data Management – Life cycle and portfolio management for defined products as well as configured products
Production Planning and Scheduling – Utilizing resources, which affords much more flexibility than work centers, including finite, infinite, and drop-and-drag scheduling
Quality Management – Defining standards and testing procedures, and managing vendor performance and customer complaints
Logistics (Warehouse and Distribution Management) – End-to-end visibility throughout the supply chain
Hire-to-Retire – Managing company structure and positions across the entire organization including all tasks related to an employee’s career, compensation, benefits, time, and attendance
Expense Management – Automating the process and defining company policies

This webinar will demonstrate the possibilities of how a generation shift in your business software can provide new levels of capability, unmatched agility, and a compelling and empowering user experience in your organization.

Navigating the Uncertainty: Mid-year Tax Planning Strategies to Minimize Your Tax Liability - Recorded Webinar

Wed, 11 Jul 2012 00:00:00 GMT

While 2013 may seem a long way away, it will be here before you know it. Take time NOW to consider tax planning ideas while you have time to think and time to implement valuable strategies as the year progresses to a close. During this webinar, we will provide up-to-date tax information and share tax planning ideas to get you thinking about tax planning moves for the remainder of the year.

Economic Recovery: Leadership perspectives from the other side of the downturn

Wed, 11 Jul 2012 00:00:00 GMT

Most experts agree the economy has turned the corner. With a soft recovery underway, Wipfli sat down with 13 leaders representing a range of industries—manufacturing and distribution, financial institutions, insurance, health care, and construction—to talk confidentially about their post-downturn experiences. They shared the business lessons they’ve gained from the recent recession and identified the issues they consider to be their biggest challenges now that recovery is here.

The insights gleaned from our business panel offer a unique view of today’s recovery as well as a perspective on the economic expectations for the remainder of 2012, which can prove helpful to any business leader who’s forging ahead.

BSA Update

Sun, 01 Jul 2012 00:00:00 GMT

While the revisions to the alphabet soup regulations have been receiving most of the attention we cannot forget the importance of having a well-rounded and robust BSA/AML program. Typically community financial institutions have focused on simple structuring and other basic suspicious activity, in the design of the surveillance program.

Is Your Financial Institution Its Own Automated Clearing House (ACH) Originator?

Sun, 01 Jul 2012 00:00:00 GMT

When a financial institution originates entries as the originator, the institution is subject to the same ACH Rules as any other originator. The entries, files, authorization agreements, etc. associated with the institution’s origination of such entries are not required to be included in the annual ACH audit required by Appendix 8 of the ACH Rules. However, there can be significant rule violations and risk in these areas; therefore, entries for which the financial institution is its own originator should be included in either the annual ACH audit or other internal audit program.

Obtaining a Quality Business Valuation: A Critical Component of SBA Business Acquisition Loans

Sun, 01 Jul 2012 00:00:00 GMT

Small Business Administration (SBA) loans remain a viable and often welcome alternative for small businesses. That includes SBA guaranteed loan programs such as the 7(a). The loan programs provide financing for the transfer of existing small businesses when they might not be eligible for business loans through normal lending channels.

Public Company Q&A: Will the JOBS Act creation of Emerging Growth Company issuers spur increased IPO activity?

Sat, 30 Jun 2012 00:00:00 GMT

Will the JOBS Act creation of Emerging Growth Company issuers spur increased IPO activity?

A small company initial public offering (IPO) is an IPO smaller than $50 million. Somewhat startling to know: small company IPOs decreased from 2,990 in the period from 1991–1997 to 233 in the period from 2001–2007. In addition, in 1994 small company IPOs comprised approximately 80% of all IPOs, while in 2011 they were less than 20% of all IPOs. What has caused this dramatic reduction in IPOs, and what can be done to reverse the trend?

Concrete Terms June 2012

Tue, 19 Jun 2012 00:00:00 GMT

Trust but verify. How to know the costs are legitimate on every invoice in a cost-plus fee project.

Contractors may resist providing a reconciliation of costs for each line item of an invoice in a form that's easy for an owner to review. But owners should make it clear early in the process that they will require the necessary information before any payments are made. This issue of Concrete Terms offers recommendations on how to avoid conflict with the contractor throughout the project and reduce the risk of overpaying.

Concrete Terms was created to give busy construction and real estate attorneys quick and practical information they can use to serve their clients.

Sage Nonprofit Solutions Newsletter - 2nd Quarter 2012

Thu, 14 Jun 2012 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

New Auto-Close Encumbrances
Tips & Tricks: Adding New Users
Sage Summit 2012 Info

Patient-Centered Medical Home: What to Expect on Your Path to Becoming One

Wed, 06 Jun 2012 00:00:00 GMT

The Patient-Centered Medical Home (PCMH) has been proposed as a model for transforming primary care and improving efficiency and effectiveness in the health care system[1]. And as more insurance payors begin to reimburse through pay-for-performance, rewarding providers that deliver on the ‘triple aim’ – high quality, low cost and patient satisfaction, becoming one of the first-to-market providers with the PCMH accreditation can bring some significant market opportunities. However, for small community and rural providers who are dealing with a chronic shortage of health professionals, work in smaller practices with fewer resources (especially for the implementation of electronic health records), and lack administrative infrastructure, there are some real, but not insurmountable challenges.

This article will present an overview of the process for becoming a PCMH. We’ll address some of the challenges you can anticipate and prepare for, an understanding of what the experience is like from a provider who has already gone through the process, and some of the ways Wipfli can provide you with expertise and assistance to tackle the challenge.

[1] Wagner, Edward, H., Colman, Katie, Reid, Robert, J., Phillips, Kathryn, Sugarman, Jonathan R., “Guiding Transformation: How Medical Practices Can Become Patient-Centered Medical Homes, The Commonwealth Fund, Feb. 2012.

Effective Governance Design: Clarifying Board, Leadership, and Management Roles and Responsibilities – Recorded Webinar

Wed, 06 Jun 2012 00:00:00 GMT

This webinar was recorded June 6, 2012.

Governance is not easy to design because it is a somewhat inexact activity—part theory, science, and art, which leaves much room for interpretation in executing the roles of the board, leadership, and management. Oftentimes failed performance expectations occur because of poor governance design or a breakdown in structure, intent, process and/or communications, resulting in confusion over who—board or management—makes what decisions that must then be implemented. In this webinar, learn the differences among the board, leadership, and management functions from three distinct perspectives: roles and responsibilities, culture, as well as a process to improve how effectively these three groups work together.

The learning objectives for this webinar include:

Developing a clear understanding of the differences in board, leadership, and management roles and responsibilities.
Learning how to work together effectively in areas of overlap and optimizing each stakeholder’s strengths to create synergies.
Understanding group culture (how things are done) as well as formal and informal decision-making processes.

Need an Expert Valuation Witness? How to Make the Best Choice

Fri, 01 Jun 2012 00:00:00 GMT

You have a litigation case and need to retain an expert witness. You know an acquaintance you believe would be capable of accepting the engagement. How do you make certain you’re making the right choice?

From divorce cases to shareholders’ disputes, litigation cases often call for an expert witness in business valuation or tax analyses. When conducting a search for your next expert, consider these 10 key insights to ensure you select the right professional for the case.

Understanding the Economics and Compliance Requirements of Hiring Specialty Physicians – Recorded Webinar

Thu, 31 May 2012 00:00:00 GMT

This webinar was recorded May 30, 2012.

Historically, many Critical Access Hospital (CAH) administrators accessed specialty physician services through contracted relationships with their upstream hospital partners. The CAH leased office space to these physicians and in return, were able to offer their patients local access to specialty services. Recently, we’ve observed a trend of CAHs wanting to employ specialty physicians with the expectation that it will improve their bottom line. What many CAH administrators fail to recognize is that the variable and fixed costs of employing specialty physicians can be significant. Moreover, specialty physicians’ compensation arrangements may not always be structured in a way that both encourages efficient, high-quality delivery of care and complies with regulatory requirements.

In this webinar, we will provide an overview of where specialty physician compensation has been and where it’s headed. Learning objectives include:

Trends in physician compensation and how to transition from volume- to value-driven compensation models
Regulatory and fair market value considerations
How to properly evaluate the financial implications of a prospective specialty physician arrangement

As you contemplate employing specialty physicians in your hospital, you need to understand the compliance requirements and potential impact to your bottom line. Join us for this webinar as we discuss both the value and potential risks of transitioning your physician compensation model to future market realities.

Exploring the Next Generation of ERP - Recorded Webinar

Tue, 29 May 2012 00:00:00 GMT

Does your current business software align with your business challenges? Are the global industry trends impacting your business being met with your current software? If your answer to either of these questions is “no,” then spend an hour with us, and consider the possibilities of aligning with a Microsoft business solution.

Microsoft is committed to continually delivering powerful, agile, easy-to-use solutions that add value across an entire organization—today and tomorrow.

A powerful foundation that supports industry-specific and operational demands across your global enterprise means more value faster from your technology investment.
Agile software allows you to meet the ever-changing demands of your customers while streamlining your business processes and reducing your business risk.
Inherent simplicity via a Microsoft standard user interface helps drive user adoption, boost innovation, and lower the total cost of ownership.

Presenters will talk through global business and information technology trends and challenges while considering today’s needs and yesterday’s solutions. They will then address the possibilities of how a generation-shift in your business software can provide new levels of capability, unmatched agility, and a compelling and empowering user experience in your organization.

The Vision for QlikView.Next

Mon, 14 May 2012 00:00:00 GMT

The QlikView Business Discovery platform is well known for putting powerful capabilities in business users’ hands via a simple, highly compelling user experience. To stay ahead of the rapidly-evolving needs of information workers and organizations everywhere, we are in development on a whole new generation of the QlikView Business Discovery platform, code-named “QlikView.next.”

Looking for Additional Tax Deductions While Significantly Increasing Your Retirement Savings? Don’t Overlook the Advantages of a Cash Balance Plan.

Fri, 11 May 2012 00:00:00 GMT

As a successful business owner, you may find yourself in any of the following situations:

Searching for additional tax savings
Looking for ways to shelter more of your income for retirement
Looking for ways to “catch up” from financial hits your retirement assets may have taken in recent years or from delaying the start of saving for your retirement

Chances are that you already have a 401(k) plan that, depending upon your age, allows to you defer as much as $22,500 and, when combined with a profit sharing contribution, can give you the opportunity to shelter as much as $55,500 each year.

If so, don’t neglect taking a closer look at your retirement plan design strategy and, in particular, whether a cash balance plan might provide you with the opportunity to shelter two to four times that amount annually, on your way to accumulating as much as $2.5 million in additional money for retirement.

McReath v. McReath: Lessons Learned

Thu, 03 May 2012 00:00:00 GMT

On July 12, 2011, the Supreme Count of Wisconsin released its decision in the case of McReath v. McReath, Case No. 2009AP639. This case could change how valuations are performed for divorce settlement purposes. The underlying issues are the double counting of income utilized to value a practice and income utilized to calculate maintenance and the divisibility of personal goodwill. Following are highlights of the McReath case and potential steps that can be taken to avoid double counting of income in divorce situations.

Regulation E: Working with Disputes

Tue, 01 May 2012 00:00:00 GMT

As consumers rely on electronic transactions at an ever-increasing rate, It has become more critical for financial institutions to have sound procedures to handle the inevitable errors. This article is a synopsis of the error resolution requirements in 12 CFR 1005.11.

Hiring an Executive Coach = Big Results

Tue, 01 May 2012 00:00:00 GMT

Leading a financial services organization to top performance is difficult. You have the responsibility of the many people in your team, and being in a leadership position can be lonely. To complicate
matters, it can be tough to find someone who can give you an unbiased opinion of your performance, while also helping you to improve in the areas where you struggle. So where do you turn in order to get all of this?

Putting the Patient First: The Role of Clinical Integration - Recorded Webinar

Wed, 25 Apr 2012 00:00:00 GMT

This webinar was recorded April 24, 2012.

Traditionally, hospitals and physicians have pursued integration in order to achieve what, in many respects, were often mutually exclusive goals. Today, integration is being pursued with a common goal: delivering the right care at the right time, every time for every patient. On this journey, both hospitals and physicians are coming to understand that the benefits of integration come through mutually inclusive goals, and the options for physician alignment, not necessarily full integration, need to be considered within a different paradigm. The learning objectives of this webinar include:

Understand what is driving the need to consider clinical integration across the care continuum
Learn of the relationship between clinical integration and successful service line delivery across the continuum of care
Learn various models of alignment with physicians and how they support clinical integration and the desired outcomes
Understand how clinical integration can support and drive quality initiatives across the continuum of care

Discipline Without Punishment – Is It Possible? - Recorded Webinar

Tue, 24 Apr 2012 00:00:00 GMT

Does your corrective action process include progressive disciplinary measures such as verbal and written warnings, reprimands, probations, and unpaid suspensions? Interestingly enough, these processes were invented by unions, not management.

While the concept of discipline without punishment has been around for quite some time, it is often overlooked or even unheard of as a viable alternative to 'traditional' progressive discipline. The idea behind discipline without punishment is to ensure that employees fully understand 'the employment deal' and then take personal responsibility for upholding their part of the bargain. It does not involve punishment. It does, however, require an understanding of the consequences of individual choices and decisions.

Based on human resource “best practices” and the classic experience and research of author and expert Dick Grote, this webinar is designed for senior management, production managers and supervisors, and human resource professionals.

Join us for this informative webinar as we review the history of and problems associated with traditional disciplinary programs, the benefits associated with the discipline without punishment approach, and how you can implement this process in your organization.

Nine Steps You Can Take to Achieve Guaranteed Revenue Cycle Improvements

Fri, 20 Apr 2012 00:00:00 GMT

Read about the nine steps (less than 10) you can take to achieve guaranteed revenue cycle improvements. By simply improving a few specific procedures in your revenue cycle process you will positively affect BOTH your revenue and compliance. This is what we term “revenue integrity.”

Revenue integrity relies on good revenue cycle (data capture) processes from the first patient contact with your facility to claim payment. The processes function sequentially to generate a bill for every patient service. Each step adds vital information, contributing to the total picture of the care provided and the associated costs. If any of the steps in any of the processes are not functioning properly, inaccurate or missing data can result, leading to an incorrectly paid claim (or outright denial) and higher practice costs.

If you have limited resources, you can still focus on key areas. We have listed them in descending order of likely impact, but these efforts are interrelated. By resolving one, you will likely make others less problematic too.

Retaining Your Profits – Five Facts That Could Change the Way You Record Retainage Payable Under the Percentage of Completion Method

Tue, 17 Apr 2012 00:00:00 GMT

From a tax perspective, the construction industry can be one of the more difficult to comprehend. That’s due to the industry’s broad and extensive issues, to the complexity of the tax rules, and to the choices available for tax reporting. It is understandable that some great tax planning strategies get missed. Case in point is retainage payable under the percentage of completion method (PCM) of accounting.

Withholding retainages from subcontractors is common practice, but how retainage payable should be treated in calculating the completion factor under the PCM had been a point of contention between the IRS and contractors. While the related tax planning strategy in recent years has drawn less IRS scrutiny, the tax planning strategy is still often unknown to CFOs and controllers.

Patient-centricity: A Transformational Journey for Administrators, Physicians and Trustees - Part 2

Wed, 04 Apr 2012 00:00:00 GMT

Over the years of responding to market reforms working relationships between administrators, physicians, and trustees have become compromised by difficult discussions and contentious negotiations. This has often resulted in challenging, if not adversarial, relationships rather than collaborative partnerships. While each party has made contributions to respond and adapt to reforms in the past, the long-term impact of this current method of negotiated leadership has led to distrust, discord, and damaged working relationships. More importantly, this has led to a leadership crisis that jeopardizes many organization’s ability to respond to the current chapter of reform and focus on real patient-focused health care, that requires leaders to work together in weaving emerging cottage industries into a coordinated approach to deliver on the “triple aim”—high quality, low cost, and patient satisfaction.

In part one of this two-part article, we interviewed Perry Hanson, MHA, partner at Wipfli, and Ray Christensen, M.D., assistant dean for rural health at the University of Minnesota Medical School in Duluth. Hanson and Christensen shared their backgrounds and perspectives on traditional relationships among administrators, physicians, and trustees, which were characterized by each stakeholder’s training and existing model. In part two, Hanson and Christensen will address how administrators, physicians and trustees can collaborate more effectively by understanding cultural differences among each other, selected steps these three stakeholders need to take on their journey toward collaboration, and proven tools that they can use to deliver on requisite reforms. This article concludes the transformational journey by which administrators, physicians, and trustees can learn the skills necessary to become better business partners and work together to deliver exceptional patient-centric care.

Research Credits in Minnesota, an Often Overlooked Opportunity

Wed, 04 Apr 2012 00:00:00 GMT

We continue to see many companies with Minnesota operations that are either unaware of the opportunity to receive a refundable credit for research activities, have not realized the credit is now available for S corporations with the shareholders eligible to receive a refundable credit, have not realized the credit rate increased from 5% to 10%, or do not feel that their activities rise to the level required to be eligible for the research credit. The starting point for the calculation of the Minnesota research credit are the federal rules under Internal Revenue Code §41 and the corresponding Regulations. Minnesota then limits the qualified expenses to those incurred in Minnesota. Effective for tax years beginning after December 31, 2009, the research credit became a refundable credit and also became eligible to be claimed by flow-through entities where the credit flows through to the ownership group on the Schedule K-1.

XRM—Whatever the “X” is, it’s all about relationships - recorded webinar

Mon, 02 Apr 2012 00:00:00 GMT

In recent years “XRM,” or Anything Relationship Management, has become a commonplace acronym in the relationship management arena, but the concept is all but new. With the “x” indicating the management of ANY relationship beyond customer, it could include relationships with anyone or anything.

By leveraging today’s customer relationship management (CRM) systems as business application platforms or frameworks tailored to your dynamic business, XRM can truly become a reality in your business. In addition, with the flexibility to adapt quickly in an agile manner to the ever-changing business environment, more and more businesses are leveraging the power of XRM in the cloud.

Join us for this informative webinar to understand Manufacturing and Distribution XRM and what it can do for your business.

Market Research: The Basis for Strategy

Fri, 30 Mar 2012 00:00:00 GMT

Better performance has become nearly synonymous with cutting costs and staying lean. But performance is also defined by long-term growth and sustainability, which require smart planning based on sound research. To truly know your growth opportunities, you need to know your market.

In today’s environment, health care organizations must continually evaluate and adapt to changing market conditions. The real competitive edge is in knowing where the market is headed and responding accordingly. Research supplies that knowledge and helps organizations confidently establish direction and introduce new initiatives. The attached article highlights the importance of market research as the basis of informed decision making and sound strategy.

Taking Advantage of the Research Credit for Flow-Through Entities With a Tax Loss

Wed, 28 Mar 2012 00:00:00 GMT

Since 1981, businesses have been eligible for a federal tax credit (a direct reduction in the amount of taxes paid) for increases in their qualified research spending. Over the past 30 years, however, there have been a number of changes in how the credit is calculated and which activities qualify. Contrary to popular belief, the R&D tax credit isn’t limited to high-tech, biotech, and pharmaceutical companies. If your company is involved in any of the following, you may qualify for the research credit:

Design and/or manufacture of products
Production of parts to customer part prints or specifications
Custom design and build of machines for sale or use in operations
Development of new, improved, or more reliable products/processes/formulas
Design of tools, fixtures, jigs, molds, or dies
Development or application for patents
Development of software
Provision of engineering services
Provision of architectural services
Design/build contractors

Why Is the Wisconsin Super Research Credit So Super?

Wed, 28 Mar 2012 00:00:00 GMT

The State of Wisconsin allows a number of tax credits related to research activities for C corporations. The starting point for the Wisconsin credit is the Internal Revenue Code. Wisconsin piggybacks on IRC §41 and the corresponding regulations in determining what activities constitute qualified research and what expenses are eligible for the credit. Wisconsin then modifies the federal rules by limiting the qualified expenses to those expenses incurred in Wisconsin and to Wisconsin gross receipts in determining the base period percentage and base amounts.

President’s Budget: Estate and Gift Tax and Valuation Discounts Proposals

Fri, 23 Mar 2012 00:00:00 GMT

On Monday, February 13, President Obama released his fiscal 2013 budget which includes over 100 proposed tax changes. Of particular relevance to those involved in the gift and estate tax area is the provision to return the estate, gift, and generation-skipping transfer tax (GST) to levels in effect in 2009. In addition, proposals to limit valuation discounts for transfers of interests in family limited partnerships have again been proposed in the budget.

Patient-centricity: A Transformational Journey for Administrators, Physicians and Trustees - Part 1

Mon, 05 Mar 2012 00:00:00 GMT

In this two-part article, we interviewed Perry Hanson, MHA, partner at Wipfli, and Ray Christensen, M.D., assistant dean for rural health at the University of Minnesota Medical School in Duluth, to get their perspective on how administrators, physicians and trustees have come to this point in their transformational journey toward delivering exceptional patient-centric care. We will share what they learned from each other and how this can help others become better partners in responding to and leading reform efforts in the future. In part one, we will address the history and dynamics of these relationships and begin the journey of explaining why it’s necessary for these constituencies to collaborate for the benefit of the patient.

Anticorruption Compliance: Managing and Mitigating Risks in a Global Economy - Recorded Webinar

Mon, 05 Mar 2012 00:00:00 GMT

Often overlooked, particularly by privately held companies, violations of anticorruption regulations increasingly result in significant fines for organizations and fines and imprisonment for individuals. Join us for this webinar to better understand what the U.S. Foreign Corrupt Practices Act (FCPA) and U.K. Bribery Act are, how to determine if they apply to your organization, and the risks associated with violations to anticorruption regulations.

Sage Nonprofit Solutions Newsletter - 1st Quarter 2012

Mon, 05 Mar 2012 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

Grow Your Support with Email Marketing
New Sage Customer Support Portal
Name Change for Your Nonprofit Software

Exploring Home- and Community-Based Services

Mon, 05 Mar 2012 00:00:00 GMT

Today’s seniors want to live in their homes longer and more independently. According to an AARP survey, 85% of individuals 55 and older want to remain in their own homes for as long as possible. This movement to “age in place” is creating a growing trend of delivering a broad set of services and solutions to the elderly where they live, instead of moving aging populations to centralized points of care.

This article highlights the two most prevalent options for delivering home care services, the pros and cons of various home care program ownership models, case studies of each of these models, and the operational opportunities and risks of expanding into home-based community services.

Bank Buy-Sell Agreements: What is Your Plan?

Thu, 01 Mar 2012 00:00:00 GMT

Poorly crafted, ill-conceived, outdated buy-sell agreements—or worse, no agreement at all or just “what we’ve always done”— offer endless examples of board members who’ve set themselves up.

Many banks and boards endlessly twist in the wind of litigation, as if a tornado has taken its toll, after a “triggering” event activates a poorly crafted, ill-conceived, or outdated buy-sell agreement.

Seven Community Banking Issues to Address in 2012

Thu, 01 Mar 2012 00:00:00 GMT

Within the first couple weeks of 2012, I had conversations with several financial institutions about each of the topics discussed in our thought leadership paper from January 2011 entitled “Seven Community Bank issues to Address in 2011.” One CEO reviewed the article and responded in an e-mail, “Just read this . . . . Excellent and relevant advice, Andy . . . great article!!! Thank YOU for your partnership!!!”

Seven Credit Union Issues to Address in 2012

Thu, 01 Mar 2012 00:00:00 GMT

Within the first couple weeks of 2012, I had conversations with several financial institutions about each of the topics discussed in our thought leadership paper from January 2011 entitled “Seven Credit Union Issues to Address in 2011.” One CEO reviewed the article and responded in an e-mail, “Just read this . . . . Excellent and relevant advice, Andy . . . great article!!! Thank YOU for your partnership!!!”

Low-Income Housing Credits: A Primer

Thu, 01 Mar 2012 00:00:00 GMT

As many banks turn the corner from taxable losses to reporting taxable income and paying tax again, low-income housing credits may be an attractive investment. A well-structured low-income housing program could produce an internal rate of return ranging from 6 – 8%. (The return is in the form of a reduction in tax liability, not cash returns).

Bringing Meaning to the Budget Process

Tue, 28 Feb 2012 00:00:00 GMT

For senior living organizations, balancing the demands of providing high-quality resident care with ensuring positive financial performance has never been more difficult or more critical. Unfortunately, managers trying to save time in the short-term by hurrying over the details of the budget can miss opportunities, resulting in wasted time and resources.

In this article, we'll make the case for how effective budgeting is an important management tool for senior living department managers. We'll also:

Define some common financial management principles.
Outline the steps of a thorough budgeting process.
Provide some practical budget review guidelines.
Provide some nuts and bolts management tools that help nonprofit managers become more effective at managing their budgets.

Putting the Patient First: The Role of Clinical Integration

Fri, 03 Feb 2012 00:00:00 GMT

Traditionally, hospitals and physicians have pursued integration in order to achieve what, in many respects, were often mutually exclusive goals. Now integration is being pursued with a common goal: delivering the right care at the right time, every time for every patient. On this journey, both hospitals and physicians are coming to understand that the benefits of integration come through mutually inclusive goals, and the options for physician alignment, not necessarily full integration, need to be considered within a different paradigm.

This article will provide an overview of what’s driving the emergence of clinical integration, how physician alignment fits within the new paradigm, how at least one delivery system is organizing its providers to bend the cost curve, how to assess where an organization is meeting the needs and demands of its own market, and an understanding of how to get started on an involved and challenging process that is ultimately essential to an organization’s viability.

Concrete Terms February 2012

Thu, 02 Feb 2012 00:00:00 GMT

How to prevent contingency funds from being used for repairs, rework, or warranty work.

Competition is still fierce in the construction industry and contractors continue to look for methods to improve profit margins. A new trend is developing. Owners now need to lookout for charges contractors might bill them for repairs, rework, or warranty costs. This issue of Concrete Terms offers tips and ideas on the warranty language in the construction contract.

Concrete Terms was created to give busy construction and real estate attorneys quick and practical information they can use to serve their clients better.

Conducting a Community Health Needs Assessment: Beyond the Requirements - Recorded Webinar

Wed, 25 Jan 2012 00:00:00 GMT

Recent health care legislation has led to the formation of the Patient Protection and Affordable Care Act. The act sets forth a new requirement effective for tax years beginning after March 23, 2012, whereby all 501(c)(3) hospitals must report a Community Health Needs Assessment (CHNA) to the IRS every three years. Hospitals that fail to conduct a CHNA will face an annual penalty of $50,000 for every year of noncompliance. This webinar will provide a practical approach to conducting a CHNA and offer a perspective beyond the requirements for hospitals seeking to integrate the CHNA process into broader planning initiatives. Specifically, this webinar will address the following:

Overview of IRS requirements of a CHNA and hospital implications
The key components of a CHNA
Best practices for conducting a CHNA in compliance with IRS guidelines
Guidance on integrating the CHNA process into broader planning initiatives

Maximizing Value: How to Prepare Your Company - Recorded Webinar

Mon, 23 Jan 2012 00:00:00 GMT

Private Capital Markets Update: Middle Market Monetization Strategies

Owners of privately held, middle-market companies may be motivated to monetize all or a portion of their companies for a variety of reasons - from succession planning or retirement funding to providing ownership opportunities to management and more.

As you begin to explore this realm, many questions come into play. What alternatives are available to you when it comes to monetizing a stake in your business? Why, when, and how do you extract value?

This webinar will help you to gain an understanding of the big picture and the myriad of options available to you. We will provide an overview of the current merger and acquisitions environment and private market conditions. In addition, we will specifically discuss:

The buyer and investor universe - Who are they, what do they buy, and how do they value a business?
Maximizing value – The factors that can add significant value to your company
Private market transaction options
Steps to take now to prepare your company

This webinar is intended for business owners and senior management of privately held, middle-market manufacturing companies.

Medicare Reimbursement for Physician Services - 2012 Update - Recorded Webinar

Wed, 18 Jan 2012 00:00:00 GMT

The 2012 Medicare Physician Fee Schedule for 2012 final rule was published on November 1, 2011, in the Federal Register. At 1,235 pages, it’s a daunting task to read and interpret on your own. In addition, Congress is expected to make subsequent changes to the final rule prior to implementation on January 1, 2012. Let Wipfli help you make sense of the newest regulations affecting Medicare reimbursement for physician services.

In this webinar, we’ll provide you with the following:

Overview of the Medicare final rule and changes to date
Physician specialties most affected by the 2012 Medicare fee schedule
Revisions to the e-prescribe incentive program
New requirements for the Medicare Annual Wellness Visit
Facility rate reimbursement for physician services performed within the “three-day window” of an inpatient admission

In addition, we’ll update you on new OIG work plan items for 2012 affecting physician groups, including hospitals that own and operate them.

The Governance Factor: Is Your Board Onboard? (Part One)

Thu, 12 Jan 2012 00:00:00 GMT

From quality measures, to safety standards to regulatory scrutiny, the pressure has increased on health care leadership. Today’s boards of directors for nonprofit senior living organizations face a mountain of industry challenges, all of which drive the importance of more prudent governance.

This two-part article series highlights some of the key points of governance and serves as a brief but practical review of the elements necessary for good stewardship and overall risk management.

Governance Members’ Roles and Responsibilities (Part Two)

Thu, 12 Jan 2012 00:00:00 GMT

Today’s boards of directors for nonprofit senior living organizations face a mountain of industry challenges, all of which drive the importance of more prudent governance. Having sound processes for evaluating effectiveness and selecting members is central to success.

This two-part article series highlights some of the key points of governance and serves as a brief but practical review of the elements necessary for good stewardship and overall risk management.

How to get value out of your audit relationship

Wed, 11 Jan 2012 00:00:00 GMT

Do you feel like your annual financial statement audit is a costly exercise that adds little or no value to your business? If you do, you may be in need of audit process improvements. This article is designed to help ensure the dollars you spend with your audit firm both adds value and ultimately make your organization better. To do so, we are going to “debunk” several commonly held misconceptions about audits and auditors.

Health Care Trends and Issues For 2012

Wed, 04 Jan 2012 00:00:00 GMT

2012 and the rest of this decade will likely be the most interesting and challenging period in the history of health care delivery and financing. This is because it will be within this period that the health care cost curve may actually bend. The reason we believe this is quite simple: it has to. The current trajectory of the cost curve is unsustainable and has caused the financial oxygen to be virtually sucked out of discretionary spending. Fortunately, enough key stakeholders (providers, payers, employers, and the government, etc.) acknowledge and embrace that reality. Health care financing remains a zero sum game—one stakeholder’s revenue (e.g., provider) is another’s expense (e.g., payer, employer). So bending the cost curve will certainly carry with it significant financial implications, which is why, for example, we have been assisting our hospital clients in developing and implementing strategic financial plans to ensure the sustainability of their operations presuming they will receive Medicare reimbursement rates for their entire revenue stream.

While the future of the Patient Protection and Affordable Care Act (PPACA or “Affordable Care Act”) and the states’ various responses to it will be important, we believe the health reform legislation train has clearly left the station and it isn’t coming back any time soon. As it has to date, reform will remain largely local and market-specific.

Safeguarding Your Cash Flow: How your construction contract can put you at risk

Mon, 02 Jan 2012 00:00:00 GMT

Construction contracts for capital projects are exceptionally complicated. Most new building, renovation or expansion projects have many “moving” parts with numerous change orders along the way. Such intricacy can lead to billing errors, overpayments, and even hidden savings. Using construction compliance services can help an organization better manage capital projects, avoid unnecessary costs, and safeguard its all-important cash flow. This paper outlines some of the most common contract oversights, risks and consequences that can seriously jeopardize a company’s cash flow.

Building Better Cash Flow: How a cost segregation study provides the foundation

Mon, 02 Jan 2012 00:00:00 GMT

Cost segregation is the financial foundation of a successful building project. By conducting a systematic and thorough study of all direct and indirect costs associated with construction, assets can be properly classified for tax purposes benefiting the taxpayer. A good study should result in the ability to defer taxes and generate cash flow, while withstanding IRS scrutiny. This paper tells how a cost segregation study works, how to recognize a quality study, and how to determine whether a study is right for you.

Due Diligence for Technology Outsourced Solutions

Sun, 01 Jan 2012 00:00:00 GMT

Technology has contributed to the dramatic and rapid changes in the way financial institutions now do business. In just a few years, we’ve seen adoptions of online banking, electronic bill pay, check imaging,
branch and merchant capture systems, e-statements, and mobile banking. These services allow financial institutions to attract and maintain customers in a highly competitive environment and compete with larger institutions.

Reporting Requirements for Corporate Stock Redemption

Sun, 01 Jan 2012 00:00:00 GMT

The rules regarding 1099 information reporting evolve a little bit each year. In regard to capital transactions, it can be difficult to know if Form 1099-DIV (Dividends and Distributions) or Form 1099-B (Proceeds from Broker and Barter Exchange Transactions) should be filed when stock is redeemed. There is not always a hard and fast answer to this question. This article will discuss stock redemption reporting requirements, the definition of “broker” for purposes of filing Form 1099-B, and the new cost basis reporting rules for Form 1099-B that became effective January 1, 2011.

The Business Side of SCRA

Sun, 01 Jan 2012 00:00:00 GMT

The Servicemembers Civil Relief Act of 2003 (SCRA), which expanded the Soldiers’ and Sailors’ Civil Relief Act of 1940 (SSCRA), provides protections to active duty servicemembers, reservists, or members of the National Guard called to active duty, and dependents of the active duty servicemembers in limited situations. The intent is to delay, reduce, or suspend certain financial obligations, allowing servicemembers to dedicate their complete attention to their duties and relieve stress on them and their families during deployment. Examples of obligations covered by the SCRA include mortgage payments, credit card payments, termination of leases, and taxes. The most well-known protection limits the maximum interest rate charged on credit obligations acquired prior to military service or activation to six percent per year during active duty.

Are Your Clients’ Buy-Sell Agreements Ticking Time Bombs?

Tue, 20 Dec 2011 00:00:00 GMT

Poorly crafted, ill-conceived, outdated buy-sell agreements—or worse, no agreement at all— offer endless examples of business owners who’ve set themselves up to destroy their own wealth!

2011 Year-End Tax Planning Update, Strategies and Opportunities - Recorded Webinar

Mon, 19 Dec 2011 00:00:00 GMT

How do you plan for taxes in this year of incredible uncertainty? As 2011 draws to a close, manufacturers, like all business taxpayers, are confronted with year-end tax planning challenges. Yet now is the time to take advantage of planning opportunities resulting from the current economic climate, to step back and look at the big picture, and to position your company for the future.

During this webinar, we will provide up-to-date tax information covering the current tax legislation, as well as insights on what we think may happen and what is truly still up in the air.

In this webinar, we will discuss:

Key legislative changes impacting closely-held businesses—What is new and what is going away?
Payroll and reporting information for federal and some key states
Year-end tax planning strategies
Planning opportunities to consider as a result of the current economic conditions

This webinar is intended for business owners, CFOs, controllers, and accounting/bookkeeping personnel of small to medium-sized manufacturing companies.

Sage Nonprofit Solutions Newsletter - 4th Quarter 2011

Fri, 16 Dec 2011 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

Sage Fund Accounting Version 11
Year End Closing Tips
How to get Grant Funding in 2012

How Benchmarking Can Provide Guidance in Prioritizing Areas of Focus for Operational Performance Improvement

Tue, 13 Dec 2011 00:00:00 GMT

In this era of health care reform, hospitals must address the operational (clinical and financial) implications of reforming their care delivery system and determine whether their current operating model will sustain their mission. What the future will ultimately look like is yet to be determined. To be sure, operating models to support health care reform may differ, but the fundamentals such as cost, quality, utilization, and, to some extent, reimbursement remain at the core of each model as integration and alignment within hospitals and care delivery system, are re-defined.

To develop and deliver a quality driven, lower-cost model of care delivery, hospitals need to make strong commitments to real change. Success depends on their ability to fundamentally redesign processes in order to become more efficient and improve clinical outcomes. Operating more efficiently while improving clinical outcomes will have a positive impact on patient satisfaction that will in turn lead to satisfied physicians, non-physician practitioners, and support staff, leading to positive results in financial performance. While there are many tools that can be used to support the process change, benchmarking gives hospitals an effective way to measure and compare their performance against other organizations and themselves to support improvement initiatives.

This article provides information on leveraging benchmarking as a key tool for improving operational performance. Benchmarking can provide guidance to hospitals to help prioritize time and financial resources on initiatives to ensure operating performance meets clinical and financial targets and objectives.

Missing Persons: Helping Loved Ones Left in Limbo With Estate and Financial Matters

Wed, 07 Dec 2011 00:00:00 GMT

People go missing every day. You hear about them in the news, but you never think it could happen to your family. Until one day, it does. Our brother went missing June 7, 2004. In the aftermath of that unfortunate day, we discovered some hard truths about the law and the lack of information dealing with estate matters for missing persons. As a result of our experience—both as affected family members and as professionals familiar with the intricacies of estate planning—we’re sharing our findings so other professionals can be prepared to help their clients and others in the wake of a missing-persons case. We hope that never happens. But if it does, this information can help you play a vital role in serving, supporting, and guiding your clients and others in your sphere of influence through the difficult process.

The Forecast Calls for Cloud Computing – Part Two

Wed, 07 Dec 2011 00:00:00 GMT

Cloud computing offers tremendous benefits but not without risk. Here's what you should know before taking full advantage of the latest business solution.

Cloud computing has quickly become the solution-of-the-moment, offering cost reductions, flexibility, and efficiencies. Organizations that consider using cloud computing must be aware of potential pitfalls. Part two in this two-part series explores the necessary risk management that accompanies a move to cloud computing.

Presenting financial information to the board

Fri, 02 Dec 2011 00:00:00 GMT

A nonprofit board of directors has many responsibilities; one of the most important is their fiduciary responsibility. In order to fulfill this core responsibility, the board relies on the financial information provided by the finance department.

The finance department is responsible for providing accurate, reliable, and timely financial information, allowing the board to make their decisions. In some organizations, the board may enlist a finance committee to review and summarize the more detailed financial information. The following are some things for finance personnel to consider to ensure they provide the information to the board in the most effective way possible.

Health Care Reform Legislation: Preparing for New Delivery Models - Recorded Webinar

Wed, 21 Jul 2010 00:00:00 GMT

The Patient Protection and Affordable Care Act (PPACA) begins to establish the foundation for evolution toward new delivery system models. This recorded session will help participants answer critical questions and begin to prepare for the future.

Part one of four of an interactive webinar series on the health care reform legislation.

The ABCs of PCI: Are you compliant?

Tue, 20 Jul 2010 00:00:00 GMT

What is PCI? What does it mean to be PCI compliant? What is your company's exposure? What are the potential consequences for non-compliance?

Bob and John answer these questions and more in this short, pre-recorded presentation.

Lean to the future: How Brunk Industries addressed their new norm head on

Mon, 19 Jul 2010 00:00:00 GMT

There’s an emerging trend toward manufacturers employing flexible workforces beyond the shop floor. They are experienced professionals who understand manufacturing, operations, and business growth strategies. The traditional consulting model has changed and become more affordable than hiring permanent employees. Read how Wipfli helped Brunk Industries find new ways to get work done and drive out wasteful activities.

Understanding the Impact of the Proposed "Carried Interest" Rules

Mon, 19 Jul 2010 00:00:00 GMT

On May 28 of this year, the U.S. House of Representatives passed The American Jobs and Closing Tax Loopholes Act of 2010. Among other things, the act would add a new provision which will tax real estate professionals on their “profits interests” at ordinary income tax rates. The U.S. Senate is now considering this legislation. This article addresses the proposed carried interest legislation and its’ impact on the current real estate market.

Real Estate Owners May Be Missing Valuable Opportunity to Reduce Current Taxes - Recorded Webinar

Thu, 15 Jul 2010 00:00:00 GMT

Recent tax court cases and published IRS rulings have created an opportunity for real estate organizations to examine how they classify certain expenses, specifically repair and maintenance expenses. Understanding how the proposed regulations affect the acceleration of deductions could uncover an excellent opportunity for your organization to offset your current income, reduce your tax liability, and increase your cash flow.

Effective Senior Living Financial Performance Management Processes

Wed, 07 Jul 2010 00:00:00 GMT

Senior living providers are forced to juggle resources to manage in an environment of inadequate reimbursement, complex regulatory oversight, and difficult workforce issues. In addition, long-term care providers face the challenges of effectively integrating and managing residential-based services into the continuum of care, keeping pace with the latest technology innovations and opportunities, and adhering to other corporate compliance requirements. All of these challenges must be met while ensuring an organization achieves positive financial results.

Leveraging New Technology for the Opportunities Ahead: The Case for the Right ERP System

Fri, 02 Jul 2010 00:00:00 GMT

Older ERP systems allow you to collect vast amounts of information and numbers of transactions. But when it’s time to report on the data, you often lack user-friendly tools to retrieve and analyze it.

Wipfli partners with Microsoft® to bring you an ERP system with analytic tools so you can quickly search, filter, and understand your data. Business intelligence is built into the software, making it possible for end users to make better, faster decisions. The following stories demonstrate how Wipfli implemented an ERP solution to solve a range of business challenges for six of our clients.

Managing Construction Risks in a Difficult Economy

Wed, 30 Jun 2010 00:00:00 GMT

Capital projects have always been complex and expensive activities, but in the current environment, organizations are facing risks that are different from the ones they manage in their normal, day-to-day business operations. Many companies lack the expertise, manpower, and time necessary to successfully manage a capital project. Likewise, most organizations cannot justify adding personnel just to manage construction projects. Construction compliance services can provide the effective tools and industry experience to help an owner successfully manage each of the three phases of construction.

IFRS for SMEs: A Mini GAAP

Wed, 30 Jun 2010 00:00:00 GMT

International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB). They are considered the global standard for the preparation of public company financial statements. In July 2009, the IASB simplified the full IFRS to meet the needs of private, small and medium-sized entities (SMEs). As the U.S. considers adopting IFRS in the future, SMEs in the U.S. have the opportunity to convert now. Should they? This paper examines the pros and cons of doing so.

IFRS: What You Need to Know Now

Wed, 16 Jun 2010 00:00:00 GMT

There’s been quite the industry buzz over an impending move to replace our country’s longstanding accounting practices. The debate involves our Generally Accepted Accounting Principles (GAAP)—the gold standard here in the U.S.—and a decision on whether to drop them in favor of the practices used by many countries around the world—the International Financial Reporting Standards (IFRS).

Heard of it? Most companies have, but few understand the implications of adoption or what it could mean to their businesses.

To help, here’s an IFRS primer, along with the latest information on adoption developments.

Sage Nonprofit Solutions Newsletter - 2nd Quarter 2010

Wed, 16 Jun 2010 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

The Latest and Greatest with Sage MIP
PCI Compliance for Nonprofits
New Sage Online Community

Has Your Company's Fraud IQ Kept Pace with its Fraud Risk?

Wed, 26 May 2010 00:00:00 GMT

The downturn in the economy fuels all three components of the fraud triangle – financial pressure, opportunity, and rationalization.

This increases your company’s risk of falling victim to occupational fraud, and increases the need for extra vigilance and targeted strategies that proactively manage fraud risk.

Accountable Care Organizations – An Overview

Tue, 25 May 2010 00:00:00 GMT

With the advent of health care reform, one of the topics generating a great deal of discussion among providers is delivery system change—specifically, Accountable Care Organizations (ACOs). This article will answer several critical questions regarding ACOs.

Effective Cost Modeling for Service Line Planning

Thu, 20 May 2010 00:00:00 GMT

Published as a featured article in the May HFMA, Wipfli experts explain how a process-based cost model can permit accurate cost and resource modeling for service line planning at the process and the patient levels.

Hospital-Physician Leadership: Keeping the Promise to Deliver What Patients Want to Buy

Tue, 20 Apr 2010 00:00:00 GMT

State and national reform debates tend to focus on financing (insurance) and access (coverage) without much discussion of a patient’s experience as they pursue a desired health outcome (i.e., diagnosis, treatment). The value and importance of patient/consumer/customer satisfaction seems to often be lost in such debates.

Managing Lender Relationships

Mon, 19 Apr 2010 00:00:00 GMT

After the excitement of planning for a facility project is over, there is a sigh of relief, but it is brief. Construction begins and with it all the ups and downs that are an inevitable part of even the most carefully planned and monitored project. The end does come and finally your organization is ready to move in and relish all the hard work required to get to this point. But wait, the work doesn’t end, and in fact, from the perspective of the CFO, it’s just beginning… It’s time to start paying for the project.

Health Care Reform Impact and Response

Fri, 16 Apr 2010 00:00:00 GMT

Health care reform is a reality. Given significant changes coming immediately and in the years to come, it is essential that health care providers understand both the law’s potential impact and those actions that can help an organization fare better under these changes.

Enterprise Evolution: From silos of data to integrated, accessible information in your construction organization

Fri, 16 Apr 2010 00:00:00 GMT

Today’s economic climate presents daunting challenges for contractors. There’s an intense focus on finding projects—any projects—and winning them amid aggressive bidding in the market. Equally vital is better coordination of information between job sites and offices as well as mitigating risks on all fronts and maximizing profits. Gaining ground starts with managing and harnessing information using smarter technology. This paper discusses how construction organizations can break down ‘silos of data,’ shore up mobility and improve field communications by leveraging powerful and simple-to-use CRM technology especially designed for the construction and real estate industry.

Denials Management - Strategies to Increase Revenue

Wed, 14 Apr 2010 00:00:00 GMT

One of the most challenging tasks in the business office is tackling insurance denials. If not handled properly no payment will ever be made on that hospital service. This discussion will be directed to critical access hospital CEOs, CFOs, administrators, finance managers, CDM Coordinators and other executives. We will focus the discussion on key areas of denials management analysis, the most appropriate appeals process as well as staff education.

The Anatomy of Medical Practice Net Income—Article Three

Mon, 05 Apr 2010 00:00:00 GMT

This article addresses the first element of our discussion of the basic income formula—gross fees charged by medical service providers, also known as medical services production. Years ago, the American Medical Association (AMA) had what was called the Consulting Link. This AMA program recognized and recommended competent, experienced financial consultants to doctors and their medical practices. One of the questions on the application for membership went something like this, “If you were to provide a doctor with one, and only one, suggestion to help him become financially successful, what would be your one suggestion?”

Compliance Management: Front & Center

Mon, 05 Apr 2010 00:00:00 GMT

Compliance management, once considered a cost center, has been pushed to the forefront of banking in the past few years. The financial institution industry has seen an unprecedented change in the regulatory landscape with major revisions to lending and deposit regulations, as well as the creation of new regulations. Even the minor changes can create big ripples in how a financial institution documents and processes transactions, potentially changing fee revenue or increasing expenses. Given the current compliance landscape, it’s well worth discussing what a successful compliance management program should look like.

Employers Who Hire or Rehire Employees May Qualify for Important Tax Break

Fri, 02 Apr 2010 00:00:00 GMT

To help jump-start business hiring and investment, Congress passed, and the President signed, the Hiring Incentives to Restore Employment (HIRE) Act. The HIRE Act provides for payroll tax forgiveness and an employer income tax credit of up to $1,000 for qualified new hires. This provision may provide significant benefits to employers who previously laid off employees as a result of a lack of work or due to a change in the seasons. Employers who hire certain previously unemployed individuals may be eligible for a payroll tax holiday for the remainder of 2010 with regard to the employer portion of the 6.2% OASDI share of the FICA tax.

Dental Perspective - Spring 2010

Thu, 01 Apr 2010 00:00:00 GMT

How have you been feeling lately? Are you in tip-top shape, or do a few nagging aches and pains have you stressed out? Do you know if your blood pressure and cholesterol levels are healthy? Are there things that don’t feel quite right but you just can’t put your finger on it? Maybe it’s time for a checkup.

Does Your Health Care Organization Use Excuses to Ignore Fraud-Risk and Anti-Fraud Measures?

Thu, 01 Apr 2010 00:00:00 GMT

Fraud happens. It happens to health care organizations of all sizes and across every discipline. It happens even to the best of organizations. And in almost every instance, organizations hit by occupational fraud say they never dreamed it would happen to them.

The Patient Protection and Affordable Care Act: Key Provisions Affecting Individuals and Business

Thu, 01 Apr 2010 00:00:00 GMT

On March 23, 2010, President Obama signed into law H.R. 3590, the Patient Protection and Affordable Care Act (PPAC). A “follow on” bill, H.R. 4872, the Health Care and Education Reconciliation Act (HCERA) of 2010 modified the PPAC and adds a number of tax increases. President Obama signed H.R. 4872 into law on March 30, 2010, completing the Congressional overhaul of the U.S. health care system.

Many of the important provisions and all of the tax increases (except the 10% tax on indoor tanning services) take effect in 2013 and later. As a result, it may be several years before their real impact is felt.

The Act is the most significant domestic policy legislation passed in the last 40 years. It imposes new compliance obligations on businesses and increases tax and other costs for both businesses and individuals. Wipfli LLP can provide a wide range of services to help you deal with these changes, ensure that you are in compliance with the new law, and help you manage the resulting tax implications.

Shareholder Agreements: Address the Critical “What Ifs”

Fri, 26 Mar 2010 00:00:00 GMT

Perhaps you can relate to this scenario: An attorney drafts a document and little or no review by shareholders is done; maybe it gets signed; and then it gets filed until … a partner quits, someone is fired, a partner becomes disabled, a death or divorce occurs, there is a bankruptcy filing, or someone retires.

Buy-sell agreements are agreements by and between shareholders or partners of a privately held business that govern transfers of equity, valuation, and related steps. Buy-sell agreements are critical to the ultimate ownership succession of an entity. These agreements are generally entered into at the inception of the company or when new investors buy into an existing company.

Dental Practice Transition Planning and Market Analysis

Wed, 24 Mar 2010 00:00:00 GMT

The number of active dentists is projected to continue declining through 2020. Currently, approximately 4,000 new dentists graduate each year while close to 6,000 retire. In the United States, there are, on average, about 65 dentists per 100,000 population, a lower ratio in many locations than for other health providers such as primary care physicians.

To mitigate the risks of a declining pool of potential buyers and to maximize the opportunities that exist in the marketplace, it is crucial to have a transition plan.

Chargemaster Management Process Webinar

Wed, 17 Mar 2010 00:00:00 GMT

No hospital or facility wants to miss an opportunity for improving their cash flow. This discussion will be directed to critical access hospital CEOs, CFOs, administrators, department managers, CDM Coordinators and other executives; therefore, it will vary from the detailed coding and billing discussion typical with most chargemaster seminars.

Sage Nonprofit Solutions Newsletter - 1st Quarter 2010

Wed, 17 Mar 2010 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

Effective Financial Reporting
Internal Controls for Small Nonprofits
Sage MIP Version 10.2

When It Come to Customer Service, Zenith Helps Wipfli Put Clients First

Wed, 10 Mar 2010 00:00:00 GMT

Zenith Infotech and Wipfli: Managed Services Model Maintains Client Intimacy, Personalization.

Read how this all-encompassing managed services model allows Wipfli to help clients of all sizes to streamline processes, improve performance, and leverage the right technology.

Service Line Planning: Developing Service Lines in a Family Care Environment

Wed, 10 Mar 2010 00:00:00 GMT

Contrary to popular opinion, the 65+ senior population boom is not yet occurring. Senior services organizations need to understand that the majority of the seniors in the market for long-term care services are the traditional generation, commonly referred to as the silent generation. These seniors, born between 1922 and 1945, are the largest growing segment of the current market for senior services. The majority of the silent generation are, however, not affluent. Approximately 12% of seniors 65+ in Wisconsin earn less than $15,000 a year in household income, and approximately 61% earn less than $50,000 a year.

Budgeting and Benchmarking for Financial Success

Tue, 09 Mar 2010 00:00:00 GMT

Every nursing home needs a budget. Unfortunately, in many cases, managers are not given the tools to succeed in budgeting and managing their department’s financial performance. They do not have information regarding reasonable financial results for their department and are not provided with benchmarking information comparing their department’s performance to their peers.

Succession: Planning for a Leadership Transition

Thu, 04 Mar 2010 00:00:00 GMT

One of the most important decisions a hospital board of directors will ever make is who will lead the organization as its Chief Executive Officer. Each hospital’s circumstances are different, of course, so what factors are important to one, may not be to another. In this article, we will explore some of the issues we commonly see when assisting boards with planning for a leadership transition. Although we will concentrate on the CEO position, the process we describe can be utilized in any executive or leadership role.

Financial Service Line Planning: Considerations for Successful Alignment

Mon, 01 Mar 2010 00:00:00 GMT

In this article, we will explore the use of market and financial data to help hospitals develop a strategic focus on key service lines. The end point in this phase of service line planning is strategy formulation and service line business plan development— a road map for the future. What does the future tell us?

Accounts Receivable Best Practices Webinar

Thu, 25 Feb 2010 00:00:00 GMT

This webinar provides best practices related to billing and collecting accounts receivables. We will provide an overview of the accounts receivable process from beginning to end and offer key suggestions for success throughout our discussion. After the webinar, you will have the frame work to develop your own accounts receivable process to help you organization track and manage accounts receivables. This session will include a discussion of both nursing home and assisted living accounts receivable issues. We will specifically discuss some of the on-going issues related to Medicare advantage programs and Family Care.

The value of a strong business relationship with Wipfli radio advertisement

Wed, 17 Feb 2010 00:00:00 GMT

Lee Doerr, president of SPI Lighting, believes we are all in the people business. Listen to Lee emphasize the value of a strong business relationship.

SPI Lighting is a manufacturer and designer of innovative lighting fixtures

Wipfli's HR and IT services provide peace of mind radio advertisement

Wed, 17 Feb 2010 00:00:00 GMT

LoAnn Vande Leest, CNO and acting CEO of The Surgery Center, describes how Wipfli helps The Surgery Center focus on patient care, by providing human resource and IT services resulting in peace of mind.

The Surgery Center provides the highest quality outpatient surgical care.

Wipfli - A CPA firm who understands your business radio advertisement

Wed, 17 Feb 2010 00:00:00 GMT

Allan Weidler, vice president of finance at Usinger's Famous Sausage, describes the importance of engaging the annual audit with a CPA firm who understands your business.

Wipfli's trusted tax and business advisors radio advertisement

Wed, 17 Feb 2010 00:00:00 GMT

Mark Stoiber, co-founder and president of Sleep Wellness Institute describes the importance of having trusted tax and business advisors.

Sleep Wellness Institute is southeastern Wisconsin’s first independent sleep center.

Teaming with Wipfli's proactive business advisors radio advertisement

Wed, 17 Feb 2010 00:00:00 GMT

Gregory Groth, founder and chair at Tax Airfreight, describes the importance of teaming with a proactive business advisor.

Tax Airfreight is an air freight trucking company that transports industrial, commercial and retail goods.

Importance of having a creative business partner radio advertisement

Wed, 17 Feb 2010 00:00:00 GMT

Steve Hannah, CEO of The Onion, sarcastically describes the importance of having a creative business partner to solve complex business and tax matters.

The Onion is a national publication and website that offers award-winning news and views that readers can't get anywhere else.

Wipfli is building better lives long term radio advertisement

Wed, 17 Feb 2010 00:00:00 GMT

Tim Sullivan, board chair of the United Way of Greater Milwaukee, emphasizes the importance of outstanding corporate partners in building better lives long term.

United Way of Greater Milwaukee is a charitable organization committed to improving lives in their community.

Financial Planning - Helping You See the Big Picture

Fri, 12 Feb 2010 00:00:00 GMT

Do you picture yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached.

That's where financial planning comes in. Financial planning is a process that can help you reach your goals by evaluating your whole financial picture, then outlining strategies that are tailored to your individual needs and available resources.

The Anatomy of Medical Practice Net Income—Article Two

Thu, 11 Feb 2010 00:00:00 GMT

Every medical practice has its own set of conditions, some of which make the practice financially profitable and some of which hinder that success. The starting point in the journey to profitability won’t necessarily begin with the first line of the basic income formula. In fact, a medical practice may have no idea where its practice improvement efforts should begin.

Evaluating Financing Options Webinar

Wed, 10 Feb 2010 00:00:00 GMT

The requirements for accessing capital have changed significantly in the past year and organizations have had to make significant adjustments to expectations around the availability and cost of capital. Governmental loans and government-insured debt have taken center stage and the American Recovery and Reinvestment Act (ARRA) has supplied additional monies to existing and new lending programs to fill the gap left by traditional debt financing options. Comparing capital options has become more confusing than before given factors such as government paperwork, the reluctance of banks to offer long term rates, and the increased fees for underwriting and monitoring. This session will focus on real life examples of how healthcare organizations have made financing decisions, specifically the key factors in comparing options. There will be further discussion of how to effectively manage your financing team and what the board needs to know about making informed decisions about financing options.

Back to Retirement Basics

Mon, 08 Feb 2010 00:00:00 GMT

For the last several years, many Americans have questioned, “Will I ever be able to retire?”

Recent economic challenges have resulted in reduced retirement plan portfolio sizes and increased employee confusion and anxiety. According to a recent survey from Callan Associates, one of the largest independently owned investment consulting firms in the country, during 2009, “plan sponsors were consumed with managing poorly performing investments and helping participants navigate the market collapse.” The survey went on to say that sponsors plan to spend 2010 focusing on “strategic initiatives, including review of plan design and investment.”

Evaluating Financing Options

Mon, 01 Feb 2010 00:00:00 GMT

Health care organizations are receiving financing, even in today's more expensive and more onerous lending environment. That said, lenders aren't the only ones proceeding with caution. As a financial advisor that assists management and boards in evaluating financing options, I see increased diligence on the part of borrowers too. Even where there is a long term banking relationship, many organizations are conducting a competitive RFP process and asking detailed questions about terms and risks associated with the debt. The goal of this article is to review a few common beliefs on how best to evaluate debt options and conduct effective diligence.

Tax Ramifications of Debt Restructuring

Thu, 21 Jan 2010 00:00:00 GMT

You’ve finally managed to work out your debt issues with your lender and are feeling much more optimistic about the future. But wait – have you discussed the workout with your tax advisor yet? Whether your debt workout was as simple as a modification of debt terms or as unfortunate as a foreclosure, the resulting tax ramifications may surprise you – and not in a good way.

This article provides a brief introduction to the very complicated tax rules surrounding debt workouts.

Management of Swing Bed Program Webinar

Wed, 20 Jan 2010 00:00:00 GMT

Effective management of swing beds can significantly improve a hospital’s clinical and financial performance. Many rural hospitals are not maximizing swing bed utilization. They have implemented the program; however staff may not have a clear understanding of the regulations, billing rules, or how to manage swing bed services, resulting in lost reimbursement.

Sales and Use Taxes and the Bottom Line: How Nine Manufacturers Increased Their Cash Flow

Mon, 18 Jan 2010 00:00:00 GMT

Most manufacturers are knowledgeable about federal taxes, but state and local taxes become much more daunting. Sales and use tax laws are complicated and jurisdictions are many. Company resources are stretched thin, and expertise is hard to find.

Over the years, Wipfli’s dedicated group of sales and local tax experts has helped many manufacturers stay in compliance and save serious money by reducing exposure, obtaining refunds, and instituting proper filing practices. Read how Wipfli helped nine manufacturing clients.

Health Care Trends and Issues for 2010

Thu, 14 Jan 2010 00:00:00 GMT

As the New Year nears, it’s time for the Wipfli Health Care Practice to provide its view of major trends and issues for the coming year. As you may recall, our theme last year was the economic meltdown in the fall of 2008 and the resulting need for clear strategic financial planning, effective leadership, measuring and demonstrating quality and solid hospital-physician alignment strategies.

Group practice: “Is this what I signed up for?”

Mon, 04 Jan 2010 00:00:00 GMT

It seems more often than not hospitals get into the physician business without having first built a clear business plan around such a strategy. This is understandable since they most likely reactively got into it in the first place – a physician or medical group showed up at their doorstep and said they could no longer handle the declining reimbursement and rising costs, so “either buy us, or we’ll take our admissions elsewhere.”

Additional Research and Development Tax Credit Opportunities for Companies Using Molds or Dies

Wed, 16 Dec 2009 00:00:00 GMT

While the research and development (R&D) tax credit has been available since 1981, a court case issued on November 11, 2009, can have a significant positive impact for companies who either develop tooling or have tooling developed for them that requires them to modify the tooling for final use in production.

Eight keys for protecting yourself and your retirement

Wed, 09 Dec 2009 00:00:00 GMT

Building a nest egg for a comfortable retirement is a goal most people share. But protecting that nest egg is an often-neglected responsibility. Your investment returns, tax management, income, and retirement spending (expenses) are all considerations that can impact retirement success. This paper outlines the eight keys that can help you maintain a handle on your retirement for greater peace of mind.

The Anatomy of Medical Practice Net Income

Tue, 01 Dec 2009 00:00:00 GMT

Concerns about medical practice profitability are not new. So the recent release of the results of the July 2009 Medical Group Management Association (MGMA) questionnaire ranking members' most pressing practice management challenges will not surprise anyone. The top-ranked challenge this year is "dealing with operating costs rising more rapidly than revenues," which was ranked third in the 2008 questionnaire. The second-biggest challenge identified by MGMA members this year and last is "maintaining physician compensation levels in an environment of declining reimbursement." Similarly, per a Web poll taken by Medical Economics and reported in its August 21, 2009, magazine, 58% of physicians believe their 2009 compensation will be lower than 2008, 21% said it will be about the same, and only 16% thought it would be higher this year.

“If You Don’t Know Where You’re Going…” How Benchmarking Can Improve Your Network’s Financial Performance

Tue, 01 Dec 2009 00:00:00 GMT

“... Any road will take you there.” Truly successful hospital-sponsored provider networks thoroughly understand their financial and operating performance. They know what’s working and what’s not and have corrective action plans in place for continuous improvement. And they know what can be achieved.

A helpful first step towards fully understanding operating and financial performance is to conduct a comprehensive benchmarking analysis that compares the network’s financial performance, provider productivity and compensation, fees, and coding to industry/normative data.

Red Flags Rules Due Date Nears—Again

Mon, 16 Nov 2009 00:00:00 GMT

Are you feeling besieged, battered, and bewildered? No, not from the economic downturn, the bankruptcies, or the overstocked showrooms, but from the red flag identity theft rules’ impending implementation date. The implementation date originally set for Nov. 1, 2008 has been delayed three times to 2009 dates: May 1, Aug. 1, and Nov. 1. At the request of Congress members, the latest implementation date now extends to June 1, 2010.

Real Stories, Real Money: How Five Manufacturers Got Their Fair Share of R&D Tax Credits

Wed, 11 Nov 2009 00:00:00 GMT

You might be surprised to learn where research and development (R&D) tax credits are hiding in your business. Over the years, Wipfli has helped many manufacturers identify meaningful tax credits. Read how Wipfli helped five of them get the credit they deserved.

Concrete Terms November 2009

Wed, 11 Nov 2009 00:00:00 GMT

How to mitigate the risk of paying twice for work and materials charged by contractors and subcontractors.

Concrete Terms was created to give busy construction and real estate attorneys quick and practical information they can use to serve their clients better.

In this issue of Concrete Terms: When cash flow is tight, contractors, subcontractors and suppliers may use receipts from one project to pay other invoices—leaving some providers on a project unpaid. Learn how to prevent the unpaid suppliers from coming back to you for more.

How Benchmarking Can Improve Your Physician Group’s Financial Performance Webinar

Wed, 11 Nov 2009 00:00:00 GMT

“If You Don’t Know Where You’re Going…”

As the saying goes, “If you don’t know where you’re going, any road will take you there.” Truly successful physician practices and networks, whether independent or hospital-sponsored, thoroughly understand their financial and operating performance. They know what’s working and what’s not and have corrective action plans in place for continuous improvement. A helpful first step toward fully understanding financial performance is to conduct a benchmarking analysis that compares the network’s or practice’s performance to industry/normative data. When completed, leadership has a much clearer understanding of “gaps” that may require further examination. For example, if gross charges appear low relative to norms, after further analysis, it can be determined the extent to which the causes may be related to billing policies and procedures, fee levels, coding methods, provider productivity or some combination. Such an analysis also helps with determining what level of performance can be actually achieved, which further aids in the annual budgeting process.

Improving and Focusing Your Revenue Cycle: A Webinar for Medical Practices Webinar

Thu, 05 Nov 2009 00:00:00 GMT

This webinar will focus on the key revenue cycle functions within a medical practice. We will discuss specific focus areas to achieve the best return for the practice, as well as review solutions, challenges, and barriers to improving your revenue cycle. The goal of this webinar is to assist your practice in improving your revenue cycle today!

Express View Cost Modeling: Using Better Cost Information To Make Better Decisions Webinar

Wed, 04 Nov 2009 00:00:00 GMT

A hospital's need for reliable and useful cost information is greater than ever. Federal reform with its continuing pressure to reduce health care costs has been placing even greater pressure on hospitals. Payers are continuing to press towards transparent and value pricing. The economic climate has forced hospitals to increasingly review services to determine those to expand, those to control, and those to eliminate.

Determining unit costs of patient services has been problematic for the health care industry. Most hospitals still depend on costing methods that rely on imprecise averaging techniques, ignore the acuity differences of services (and patients), and completely disregard the impact of unused capacity in the development of unit costs. Furthermore, they are ineffective in supporting the service line, payor, and provider analyses needed to support strategic decision-making.

The Latest on USDA Lending

Tue, 03 Nov 2009 00:00:00 GMT

As part of the continuing series on capital access for health care organizations, this month’s spotlight is on United States Department of Agriculture (USDA) loans. The USDA has certainly filled a void in the credit market this past year with the disappearance of the tax- exempt bond market for nonrated organizations. In this article, we will review the relevant programs and some statistics on amount of available dollars and then discuss key features of these loans.

Lack of Simple Fraud Preventions Leads to Harsh Consequences

Mon, 02 Nov 2009 00:00:00 GMT

Occupational fraud within financial institutions takes many forms:

Cash thefts from the vault of a small branch location totaling $40,000 are concealed through manipulated “surprise” cash count procedures.
Cash thefts totaling more than $18,000 from multiple teller drawers of a branch location are concealed through the alteration of records.
A series of fictitious special program loans are created concealing losses in excess of $750,000.
A CEO circumvents system controls and steals over $650,000, affecting not only assets, but 89 customer accounts over a period of 6 years.
A financial institution participates in an indirect RV (recreational vehicle) dealer loan program and suffers a fraud loss of $3.7 million over four years due to internal control overrides.

These firsthand accounts are but a few of the actual fraud cases detected in Midwestern financial institutions in just the last year.

Concrete Terms September 2009

Sun, 01 Nov 2009 00:00:00 GMT

How to avoid overpayments on construction projects.

Concrete Terms was created to give busy construction and real estate attorneys quick and practical information they can use to serve their clients better.

In this issue of Concrete Terms: In this economy, contractors are looking at every area of a construction project for additional profit. Learn how to minimize risk early with good, solid controls, both in the contract language and construction processes.

Concrete Terms July 2009

Sun, 01 Nov 2009 00:00:00 GMT

How to mitigate the risk of a contractor or subcontractor bankruptcy during a construction project.

Concrete Terms was created to give busy construction and real estate attorneys quick and practical information they can use to serve their clients better.

In this issue of Concrete Terms: With the current economy taking is toll on the construction industry, building owners planning new projects need to know how to minimize the risks of working with financially unstable contractors. Learn steps to take to gather the right documentation and create relevant contract language before the work begins.

Express View Costing: Using Advanced Cost Modeling to Change Your Management Culture

Mon, 12 Oct 2009 00:00:00 GMT

In his thought provoking article “The Cost Conundrum” (The New Yorker, June 2009), author Atul Gawande reminds readers of our lawmakers’ aim to “bring (health care) costs under control.” Later on, the author concludes that few hospital executives have anything more than a vague notion of whether their organizations and providers are more or less efficient than their counterparts elsewhere.

Many hospitals, especially in recent years, have focused on transforming patient care processes to improve the individual patient’s safety and satisfaction (Transformational phase) while targeting greater overall quality. Typically, these efforts have focused both on culture change and on process improvement, ultimately crossing functional department boundaries to focus on improving customer and quality processes throughout the entire episode of care.

Eight companies, one tough economy: Reflections on new realities

Thu, 08 Oct 2009 00:00:00 GMT

A leadership roundtable provides valuable insights into how companies are surviving and where they expect to stand come recovery time. What can you learn from their experience?

Bank Lending in Today’s Capital Market

Thu, 01 Oct 2009 00:00:00 GMT

Many an organization has relied on banks, rather than the bond market, to supply capital for financing facility renovations or expansions. If you are considering a bank loan, you should know that the current banking situation reflects a new era. Pre-September 2008, money was cheap and easy to come by, with little due diligence, loose or minimal covenants, and insignificant ongoing monitoring requirements. Today’s world has changed dramatically and, according to a federal survey of banks, is not likely to improve until at least mid-2010. The survey reported that, 45% of the banks said they tightened lending standards over the last three months and expect standards to remain tighter through at least the second half of 2010.

Say Good-bye to Valuation Discounts

Fri, 25 Sep 2009 00:00:00 GMT

Major tax implications are on the horizon for wealth transfers, making it time to act.

Sage Nonprofit Solutions Newsletter - 3rd Quarter 2009

Mon, 21 Sep 2009 00:00:00 GMT

This edition of the quarterly newsletter features articles including: Budgeting That's a Breeze, Three Keys to Growing Your Donations, and Sage MIP Version 10.1 Update.

Denials Management – It’s a Team Function

Tue, 15 Sep 2009 00:00:00 GMT

Every health care organization struggles with denials management, whether it is due to ever-changing billing codes, contract issues, or staff error. The abundance of industry seminars on this topic speaks volumes on the insatiable quest for new and improved techniques. Denials management has become a crucial component for hospitals to stay in the “black” rather than the “red.” The creation of a denials management process remains one of the most overlooked opportunities for revenue increase, second only to a chargemaster review.

Dental Perspective - Fall 2009

Mon, 14 Sep 2009 00:00:00 GMT

In this issue:

A Global Approach: Aligning Your Personal and Professional Financial Strategies
Retirement Plan Restatements
Gain An Advantage: Tax Planning for Closely Held Business Owners
Start Planning for 2010

Financial Options: Market Update

Tue, 01 Sep 2009 00:00:00 GMT

By now we are all aware, that in terms of financing, there is a new world order. The traditional debt market for health care organizations, namely tax-exempt bonds, has disappeared as an option for all but the strongest credits. The result is that organizations with plans for replacement facilities, renovations, and expansions are either on hold or in search of financing sources never before considered.

Wipfli Webinar: Gaining Efficiencies & Reducing Risk by Leveraging CRM Technology

Thu, 13 Aug 2009 00:00:00 GMT

Today’s economic climate presents unique challenges for real estate development and property management firms. There is a stronger business desire to streamline operations, improve processes and optimize organizations. Gaining ground starts with managing and harnessing information using smarter technology.

Which is why Wipfli has collaborated with Microsoft to develop a powerful, new vertical solution for the CRE industry, one that uses Microsoft Dynamics CRM while also running inside Microsoft Outlook. This solution provides an integrated software suite designed to improve and support the management of all stages of real estate development and property management projects.

View this FREE webinar recording to discover how you can move from silos of data, spreadsheets, databases and random e-mails to having integrated accessible information in a centralized system.

The economic downturn...Is it fueling fraud in your organization?

Wed, 05 Aug 2009 00:00:00 GMT

When the economy declines, common sense dictates that fraudulent activity could increase. This sstrong correlation is confirmed in a recent study conducted by the Association of Certified Fraud Examiners (ACFE). Could it be happening in your organization? Read on for a frank reality check.

CRM Implementation: 7 Elements That Drive Success

Fri, 31 Jul 2009 00:00:00 GMT

Like any major initiative, a successful CRM program requires careful planning and forethought. But even the best-laid plans can be derailed by the realities of implementation.

Best Practices for EMR/EHR Software Selection

Fri, 24 Jul 2009 00:00:00 GMT

The selection of electronic medical record (EMR/EHR) or other enterprise application software is one of the most important decisions a health care organization will make. New application software that is responsible for clinical, patient, operational, and financial information will have a huge impact on the organization and its clinicians. Besides the financial investment, which is likely to be in the hundreds of thousands or millions of dollars, a well-implemented system will change workflow (business processes) of physicians, nurses, ancillary staff, and management. With an implementation timeline that typically stretches over 18 to 24 months for an enterprise system and a useful system life that can span 7 to 15 years, the collective impact on an organization is far from trivial. This is why it is so important to make sure the decisions about selecting an enterprise system are made carefully.

CRM: Finding the Right Growth Mix

Wed, 15 Jul 2009 00:00:00 GMT

Pursuing the right growth strategy is a crucial aspect of customer relationship management. Organizations are usually very good at defining their strategic objectives (increase revenue by 20%, improve margins by 3%, etc.). However, when it comes to outlining their growth strategies, many companies struggle to identify the best means for achieving growth.

Selling a closely-held business? Time to understand what impact the current economy has on value

Wed, 15 Jul 2009 00:00:00 GMT

The current economic environment has had a devastating impact on the stock market over the past year with a 45% decrease in value from March 2008 to March 2009. The stock market, which consists of similar companies to many closely-held businesses is often considered a proxy for change in value or private companies. Does that mean the value of closely-held businesses decreases 45% in one year? Not necessarily.

SOX: The times they are a changing....Are you ready?

Thu, 09 Jul 2009 00:00:00 GMT

Smaller public companies and non-accelerated filers grapple with plenty of priority initiatives. Most likely, compliance with Sarbanes-Oxley (SOX) 404 hasn’t been one of those hot priorities. In light of revised guidance, however, extensions for compliance have vanished. External financial auditors must now certify the effectiveness of internal controls over financial reporting (ICFR), regardless of a company’s size, starting with fiscal years ending on or after December 15, 2009. This paper provides practical recommendations and best practices for meeting that challenge.

Ten Ways to Pull Up Your SOX

Thu, 09 Jul 2009 00:00:00 GMT

You know when you have droopy SOX. You feel your program has become stale, your compliance cost is out of control, and you’re just plain neglected by your provider when it comes to best practices and client service. If you’re a Sarbanes-Oxley (SOX) 404 accelerated filer, it might be time for a wardrobe change. This paper offers 10 ways you can refresh your SOX compliance program and reduce your costs.

Enterprise Evolution: From silos of data to integrated, accessible information in your real estate organization

Thu, 09 Jul 2009 00:00:00 GMT

Today’s economic climate presents unique challenges for real estate development and property management firms. In response, there has been a general shift across the entire industry. The focus has moved from growth and gains to one of mitigating risks and preventing losses. A renewed commitment to ensure profitability has also taken center stage. Gaining ground starts with managing and harnessing information using smarter technology. This paper discusses how real estate organizations can gain efficiencies and reduce risk by leveraging powerful and simple-to-use CRM technology especially designed for the construction and real estate industry.

Guaranteed Revenue Cycle Improvements - To Increase Dollars and Decrease Risk

Wed, 01 Jul 2009 00:00:00 GMT

RAC audits are coming. Payer audits are continuing. Revenue is shrinking. Investments are tanking. Staffing is lean.

If ever there was a time for health care organizations to take full advantage of every employee minute and every step in every process, it’s now. The good news is that improving a few, specific actions will positively impact BOTH your revenue and your compliance and it will bring efficiencies, thereby improving how you use your lean staff.

CRM: Leading With Strategy

Wed, 01 Jul 2009 00:00:00 GMT

At its core, customer relationship management (CRM) is a very simple yet powerful concept: If a company organizes its business around customer needs and creates stronger relationships, it can increase customer loyalty and retention while optimizing its profitability and revenue.

Measuring Your Success

Fri, 19 Jun 2009 00:00:00 GMT

So, you’ve implemented the five Gold Standard principles discussed in “Put more ‘wow!’ in your service,” and now you’re thinking "How am I doing?” Taking a page from The Ritz-Carlton’s playbook can once again prove beneficial. Ritz management is meticulous about measuring performance. Of course, their metrics would be much different than what the automotive industry would require. But, understanding what metrics to use and benchmarking your performance is critical to continuing to "wow" your customers.

Assessing Your ERP System for Better Information & Decision Making

Thu, 18 Jun 2009 00:00:00 GMT

Effective, quicker decisions for equipment manufacturers and metal fabricators often start with access to better information. You’ll find insightful information in our paper, Assessing Your ERP System for Better Information and Decision Making. If you are a year or two away from purchasing a more effective ERP system, you’ll find this paper valuable. It discusses many issues manufacturers face when assessing current ERP systems, including benchmarking against competitors and evaluating new systems.

Illuminating Your Full Potential

Wed, 17 Jun 2009 00:00:00 GMT

Few manufacturers would say they successfully leverage the full potential of their organizations. Most companies are unable to extract and then unleash that potential. Yet all would agree using existing resources to accomplish more is a crucial objective. This paper examines the core elements necessary for generating and sustaining the additional capacity that can provide a manufacturer with a strong strategic advantage.

Realizing Your Growth Potential Through CRM: Seven Elements to a Successful Implementation

Wed, 17 Jun 2009 00:00:00 GMT

Like any major initiative, a successful CRM program requires careful planning and forethought. The best-laid plans can be derailed by the realities of implementation. A company could invest greatly, only to be disappointed when the results don't justify the expense.

When preparing to execute CRM, companies must focus their energy on basic organizational and change management issues. Often, it's not underestimating costs that negatively impact implementation; it's overestimating organizational commitment. Companies must also focus on their business processes and address technology concerns long before they're ready to launch.

Investment Mistakes: The 7 Deadly Sins

Mon, 15 Jun 2009 00:00:00 GMT

Investment mistakes happen. When they do, money is lost and so is confidence. Both seasoned investors and market newcomers make mistakes. This paper identifies seven of the most common errors that occur regardless of investment experience. Learning to recognize investing mistakes can help you avoid the pitfalls.

Six Perilous Moves That Can Derail Your Financial Future

Wed, 27 May 2009 00:00:00 GMT

Call it behavioral economics—when it comes to money, most people struggle to make rational, analytical decisions. Case in point: If everyone believes it’s important to save for retirement (and most of us do), why then do so few people save enough, if at all? Beliefs, attitudes, and myths can all interfere with logical money management. This paper examines six of the most perilous perceptions that can derail anyone’s financial future.

Put More "Wow!" in Your Service: What Dealerships Can Learn From The Ritz-Carlton

Thu, 07 May 2009 00:00:00 GMT

The word “service” has many definitions, one of which is “work done by one person or a group that benefits others.” We keep hearing that the U.S. is undergoing a transformation from a manufacturing economy – producing tangible goods – to a service economy – providing intangible services. Interestingly, when a sale is made at a dealership, you deliver both! But with the large number of competitors who can deliver a similar product, the greatest opportunity to differentiate your dealership from the pack is based on service.

When it comes to providing outstanding service, one name stands high above the rest: The Ritz-Carlton. The company has won numerous awards for providing outstanding service, including the prestigious Malcolm Baldridge National Quality Award twice, and has become the epitome of service excellence.

Learn how to create "wow" for your customers by examining the Ritz-Carlton's award-winning practices by downloading Brandt's thought leadership paper.

Leading in Extraordinary Times: Part 1

Mon, 04 May 2009 00:00:00 GMT

It isn't easy to lead in these times. Both substance and leadership style are vitally important. Your challenge is to make the right business decisions while keeping employee morale and motivation high. Addressing five key realities successfully can help define your leadership. Learn about the first two realities in this first of a two-part series.

Leverage Service Line Solutions to Survive the Current

Fri, 01 May 2009 00:00:00 GMT

Health care organizations have quite a few challenges to face given the current environment. However, with the adoption of a patient-focused approach to planning, quality care delivery, and management, providers can position themselves to ride out the current storm and succeed no matter what happens in the future.

Ten Myths About Financial Advisors

Fri, 01 May 2009 00:00:00 GMT

Ten popular myths help lower-quality advisors sell you their investment and insurance products. Knowing the truth about myths makes you less susceptible to the financial risks and consequences of these deceptive sales tactics.

End-User Adoption: The Key to CRM Success

Fri, 24 Apr 2009 00:00:00 GMT

It’s a point of frustration for many organizations—either employees simply won’t use the CRM system or they fail to even come close to tapping into the system’s full potential.

Of all the factors that can impede a successful CRM implementation, none is more critical than end-user adoption.

Dental Perspective - Spring 2009

Thu, 23 Apr 2009 00:00:00 GMT

In this issue:

Know Your Numbers and Deal With Facts - Your Annual Plan
Top Lessons From the Tax Filing Season
Quickbooks In the Dental Office

Talking 'Bout A Revolution

Mon, 20 Apr 2009 00:00:00 GMT

In-Memory analysis on 64-bit platforms ushering in a new class of powerful, affordable and easy-to-use Business Intelligence solutions ‘for the masses.’

In-Memory Analysis is poised to revolutionize the Business Intelligence (BI) industry as it becomes the predominate approach. The BI industry is a major focus for organizations making investments, and according to Gartner, “demand for fast queries against big datasets, coupled with lower-priced 64-bit computing will increase the use of in-memory technology.”

Five Ways to Thrive in Today’s Business Environment

Fri, 17 Apr 2009 00:00:00 GMT

Today’s business situation has never been more volatile, with the forecast appearing uncertain at best and dismal at worst. Business analysts, columnists, executives and management gurus are providing great advice on “how to navigate, survive and even thrive” in this environment.

QlikView Technical Overview White Paper

Fri, 17 Apr 2009 00:00:00 GMT

How QlikView in-memory analysis ushers in the next
generation of business intelligence.

Creating Strategies to Thrive

Tue, 14 Apr 2009 00:00:00 GMT

Thriving in this or any economy is not an accident. It is the result of hard work and planning. Creating and implementing strategic change is not easy, but you may be surprised at how easy it is to generate new strategic ideas if they are created and executed within the guide rails of the right framework. By prioritizing, piloting, performing, and conducting post-change monitoring during the course of your strategic change process, you will not just survive, you are likely to thrive.

The Aftermath of Downsizing

Wed, 08 Apr 2009 00:00:00 GMT

Downsizing is one of the most difficult decisions that an organization’s leadership has to make. There are a variety of factors that are involved in making the decision about which jobs to keep and which to eliminate. One item that should be addressed during the decision-making process is how will the work of the displaced worker be absorbed by the remaining work force.

Physician Alignment: Getting Your Medical Staff Engaged

Wed, 01 Apr 2009 00:00:00 GMT

The notion of physician engagement in the context of developing a sustainable hospital-physician alignment plan can be difficult for hospital CEOs and board members to properly comprehend. They often don’t appreciate that engagement is a process that takes time and can not be issue driven. In other words, engagement is not about talking to physicians when an issue is on the table, but about having a conversation with them all along the way. In an effort to better illustrate the concept, I thought I’d use an interesting parallel.

Two Top Tax Tips for Tough Times

Thu, 19 Mar 2009 00:00:00 GMT

The economic downturn has certainly presented dealerships with many challenges. But it also affords them several opportunities. Now is an excellent time to maximize the tax benefits available as a result of the current economic crisis.

You can start by reviewing and changing your entity structure. Having the right structure can save you tax dollars now and in the future.

Finally, Someone on Your Side - Guide To Understanding Fee-Only Advisors

Thu, 19 Mar 2009 00:00:00 GMT

More and more press has been given to "fee only" advisors over the last few years. While the term is intriguing to many investors, its implications may not be well understood. The focus of this paper is to shed some light on what "fee only" really means and what it can mean for you as a consumer of financial services.

Comparatively Speaking: Examining Best Practices and Benchmarks

Tue, 17 Mar 2009 00:00:00 GMT

Perhaps now more than any other time in history, it is imperative that dealerships operate at peak performance. Margins are slim and getting slimmer. Even when a dealership seems to be doing everything right, the returns still aren’t where they need to be.

Given the unprecedented economic environment, what exactly does qualify as peak performance these days? More importantly, wouldn’t you like to know what the high-performing dealerships in your market are doing to achieve and sustain their success?

The good news is you can.

Service Line Planning for Senior Living

Mon, 16 Mar 2009 00:00:00 GMT

As the first baby boomers turn 65, long-term care providers are trying to position themselves for continued and future success; although “success” in long-term care has frequently had a different meaning than in other industries. The current long-term care industry is fraught with inadequate reimbursement, cumbersome regulation, and staff shortages. Success has become synonymous with survival. Service line planning has the potential to help long-term care providers redefine success.

Strategic Partnerships for Rural Health Systems

Thu, 12 Mar 2009 00:00:00 GMT

An old adage says that if you have the money, expertise, and a customer base, you can generally get by without someone else’s help. Most rural health systems would prefer to do just that, but for many, it’s becoming increasingly difficult. Competition from regional health systems and physicians, new regulatory requirements, and aging infrastructure are creating additional demands. In rural communities, shortages of nurses, pharmacists, and laboratory, radiology, and other professional staff are compounding the problems. Faced with these dilemmas, many rural systems are looking at non-merger strategic partnerships with each other, local physicians, or their urban counterparts.

Quick Hit: Reassessing Your Property Values

Wed, 25 Feb 2009 00:00:00 GMT

The fair market value of your property may not be the same as it was last year. In the past, state manufacturing assessors may have increased the valued based on the overall increases in property values in the marketplace. Now with a declining market assessors may be reluctant to reduce those values to reflect the current market. Businesses may need to take affirmative action to ensure their 2009 assessment is reduced to reflect current property values and does not remain at higher historical values.

Finding Real Profits in Used-Vehicle Inventory

Wed, 25 Feb 2009 00:00:00 GMT

Vehicle inventory is at the heart of every dealership, and as a vital asset, it demands prudent management. In light of the current economic downturn, more and more dealerships are turning to used-car sales to help offset the decline in new-car sales, making inventory management all the more critical. This paper identifies the most effective measures for ensuring better inventory management and stronger profitability.

12 Steps to Chargemaster Success

Wed, 25 Feb 2009 00:00:00 GMT

With today’s economic uncertainty, health care organizations are tightening their belts and scrutinizing revenue. Given their limited resources, many hospitals can only focus on a few functional areas. Of course, it would be preferable to look at the entire revenue cycle from registration through collections—assessing data collection process and coding accuracy, determining effective pricing, and ensuring timely claims reimbursement. Because all these revenue cycle segments are connected, a problem within one segment creates a cascading negative effect. The benefit of a revenue cycle analysis is that by cleaning up these problematic segments, there are typically tremendous (cascading) improvements in performance, both in revenues and expenses.

Charitable Lead Trusts: The Time is Right

Tue, 24 Feb 2009 00:00:00 GMT

Despite recent economic turmoil, income and estate tax planning is more important today than ever before. One seldom-used but highly effective planning tool is the charitable lead trust (CLT). Today, a CLT presents a historic opportunity: to (1) save income, estate, and gift taxes, (2) leave a charitable legacy, and (3) transfer significant wealth tax-free.

Bridging the Gap Between Vision and Affordability

Mon, 23 Feb 2009 00:00:00 GMT

Health care is being hit hard by the current recession and most providers are seeing declining revenues and volumes. In an effort to save money, some patients are putting off higher margin elective procedures and others are responding to increased co-pays by not seeking care at all. In response, health care providers have cut thousands of jobs, minimized annual working capital expenditures, and either postponed or outright cancelled major construction projects. Many of these construction projects were desperately needed in order to upgrade or replace buildings that have reached obsolescence. These projects will now be deferred and when the time does come to renovate/replace, it will most likely be much more expensive.

Resources for Fueling Your Company's Resurgence

Fri, 20 Feb 2009 00:00:00 GMT

You know we’re in the midst of a global economic crisis. You know the impact the current conditions are having on your business. But do you know what steps you should be taking to ensure your company is standing strong and positioned for success when the tide turns? Wipfli’s premier experts in helping organizations survive and thrive in any economy – has identified the moves you should make now to ensure a prosperous tomorrow. Learn the best practices they are sharing with others struggling in today’s environment by downloading the “Resources for Fueling Your Company’s Resurgence” guide.

Troubled Economy – Surviving and Thriving Webinar

Fri, 20 Feb 2009 00:00:00 GMT

Presentation slides from the "How You Can Survive and Even Thrive In This Economic Environment" webinars held on February 10, 2009 and February 20, 2009.

Express View® Cost Modeling: Better View, Better Decisions

Fri, 13 Feb 2009 00:00:00 GMT

In the ever-evolving world of health care, providers need viable strategies to establish defensible pricing, competitive contracts, improved productivity, and profitable service lines. Speed and efficiency in obtaining information is essential to making better decisions. This paper identifies a superior solution for cost modeling and provides key considerations when assessing the value of cost information as the stakes escalate in today’s health care industry.

Successfully adapting to the new economy: Where to start

Thu, 12 Feb 2009 00:00:00 GMT

You don't have to look far to find the most recent economic report or the latest expert commentary. Everyone with a microphone is ready to tell you what is happening, but who will help you figure out what to do about it?

This document is a snapshot of the first steps you must take to successfully adapt to the new economy. Emphasis on new economy. It's not about holding down the fort until things return to normal. Doing so will prevent you from capitalizing on new opportunities. Consumer buying patterns have changed. Competitive positions are being altered. Behemoth companies that could never fail are now gone. We are doing business in a new, changed, economy, which means companies must evaluate if current operations can continue to exist.

Wipfli Webinar: 403(b) Audit Plan Requirements

Mon, 09 Feb 2009 00:00:00 GMT

Offering a 403(b) retirement plan to your employees is about to get a whole lot more interesting! Effective January 1, 2009, nonprofit organizations that offer employees ERISA-covered 403(b) plans will now be required to file an expanded Form 5500 annually with the Department of Labor. Additionally, large 403(b) plans will have to include an audited financial statement with their filings. Because nonprofits have never had to maintain comprehensive 403(b) plan records, this new requirement could be a daunting task, so we encourage you to begin preparing now. View this free webinar to learn about the types of 403(b) plans that are subject to the new audit requirement and what you can do now to get the plan's books and records in shape.

Guide to Getting Your Advisors to Talk to Each Other

Thu, 05 Feb 2009 00:00:00 GMT

In this age of highly complex tax, investment, legal, and personal planning challenges and rules, the need for coordination between your professional advisors has never been more critical. Unfortunately, much of this coordination falls on you - the client - the very person who was looking for help in the first place. This article focuses on how to get your key advisors to work together in addressing your needs.

The Troubled Economy: A Guide for Turbulent and Uncharted Waters

Tue, 03 Feb 2009 00:00:00 GMT

The economic crisis has forever altered the competitive landscape. Navigating the new realities and new economy requires quick and decisive action. To survive and thrive, companies must validate their business models, verify their vitals, and creatively explore new opportunities. Make the right choices now, and you can dominate your marketplace when the recovery arrives.

You Can Hope For A Better Economy, But Don't Wait For It!

Mon, 26 Jan 2009 00:00:00 GMT

We believe that the health care industry is in a period of discontinuous change. Certainly, the health care landscape has changed dramatically in the last six to nine months. Some recent changes, as well as expected future changes, will have far-reaching impacts on the industry.

Dental Perspective - Winter 2009

Thu, 15 Jan 2009 00:00:00 GMT

In this issue:

How to Survive...andThrive! Operating A Dental Practice In A Tough Economy
Turn Your Practice Into A Lean Machine
Eight Techniques for Resolving Conflict

The Importance of Independent Advice

Thu, 15 Jan 2009 00:00:00 GMT

Investors are better off when the receive independent advice. But the concepts of independent advice and independent advisors are very confusing to them. For example, most investors don't know the importance of independence or how to measure the objectivity of the advice or sales recommendations they receive from their advisors. Independence is further obscured by companies and advisors who have something to hide. They don't want investors to know their advice is tainted by self interests that increase company profits and advisor incomes. It's safe to say they are very skilled at hiding information they don't want investors to have.

Red Flags When Selecting an Advisor

Thu, 08 Jan 2009 00:00:00 GMT

Determining the quality of a financial advisor is a major challenge if you don't know the right questions to ask and good answers from bad ones. This challenge is more difficult than it appears because advisors have spent years perfecting sales pitches that make them sound like competent, ethical financial experts.

Implementing a Service-Line Plan – Leveraging the Balanced Scorecard

Mon, 05 Jan 2009 00:00:00 GMT

In a series of earlier articles, we explored the analysis, strategy, and design activities associated with a best-practice approach to service-line planning. These activities are critical to creating a strong base for service-lines. However, the hard work is yet to come. A popular statistic from Fortune Magazine is often cited when discussing strategy execution—by their estimate, only 5% of all strategic plans are implemented. service-line plans fall under this statistic—there may be activity, but the risk is that the end results fall far short of expectations.

Health Care Trends and Issues for 2009

Thu, 01 Jan 2009 00:00:00 GMT

As we look ahead to 2009, many of the issues that have been pertinent over the last three years remain as important as ever—solid strategic and financial planning, effective leadership, alignment between hospitals and physicians, the quality and safety of patient care, effective reimbursement strategies, performance improvement, and pay-forperformance. These issues are clearly the fundamental factors that are likely to affect hospitals for years to come, with shifting emphasis among these issues in any given year.

Developing An Employee Handbook

Mon, 29 Dec 2008 00:00:00 GMT

Most employers have some form of employee handbook. Handbooks serve many purposes. They can be a valuable communications and employee relations tool, presenting the philosophy of the organization, offering employee information, and establishing the working environment. Handbooks describe the employee benefits a company provides to its employees. Even if an employee doesn't take advantage of certain benefits, the policies can be a powerful motivator and an effective tool for reducing turnover.

Hospital Physician Alignment: The Path to Integration

Mon, 22 Dec 2008 00:00:00 GMT

So here’s the question: What is the goal of integration or any hospital-physician alignment strategy? Is it to protect and/or expand market share? Is it to protect and/or share in downstream revenue? Is it to secure a more stable provider platform? Is it to prevent duplication of services? Is it to better consolidate the delivery system so service offerings can be developed or leveraged? In much of our integration work over the years, it seems any one or more of those questions have served as the basis for pursuing greater hospital-physician alignment. But when it gets whittled down to its core, shouldn’t it be all about the patient? Shouldn’t it be about ensuring consistent and ready access? Shouldn’t it be about providing the highest quality of care with the least amount of variation? Aren’t those the ways to true indispensability in the market? We think so. The business case for integration and hospital-physician alignment comes down to a simple goal: to create the most effective and efficient community delivery system we possibly can.

What Do We Do With Our Nursing Home?

Mon, 01 Dec 2008 00:00:00 GMT

This article explores some of the myths and realities about owning a nursing home, as well as provide some hope for the weary, and in the end, provide some insight to assist management and governance in making educated decisions rather than uninformed and emotional decisions on this important topic.

Advance Decision Support Comes to Critical Access Hospitals

Mon, 01 Dec 2008 00:00:00 GMT

While the health care industry contemplates the uncertainty of the changes (and challenges) looming on the horizon—the arrival of new leadership in Washington and the “tough” days of our current economy—there remains a familiar challenge from the past; most hospitals, regardless of size, are increasingly concerned with how to grow their organization in the face of increased competition, decreasing reimbursement, and the need to stay current with physical plant and technology assets. Thus, the need for increasingly effective strategic planning and strategy execution is undeniable.

Consider the Advantages of Construction Compliance Services

Mon, 01 Dec 2008 00:00:00 GMT

There is quite a bit of commercial construction activity going on across the nation. Many of our clients and prospective clients are building offices, plants, schools, warehouses or hospitals, or they are doing major renovations of existing facilities. Capital projects are complex and expensive activities. In fact, a major construction project may also be exposed to major financial risks that are much different from those encountered in its day-to-day operations. Many companies lack the expertise, manpower and time necessary to successfully manage a capital project. Likewise, most organizations cannot justify adding personnel just to manage construction projects. Construction compliance services can ensure that a capital project is completed on time, to expectations, and within budget. With effective tools and industry experience, the right services help an owner successfully manage each of the three phases of construction.

Gain an Advantage: Tax Planning for Closely Held Business Owners

Mon, 01 Dec 2008 00:00:00 GMT

The business world is ever evolving and successful business owners know they must remain informed to keep up. Staying ahead of tomorrow’s challenges and competition requires looking for ways to gain an advantage. Don’t overlook tax planning. It could provide your next advantage opportunity.

Great Expectations for an Accountant

Mon, 01 Dec 2008 00:00:00 GMT

When it comes to accounting services, many manufacturing companies forgo clear expectations and relinquish control to the accounting firm they hire. Learn four ways to maximize your accounting service satisfaction and realize the full benefits that a trusted accounting relationship offers.

Does Your Workforce Have What It Takes?

Sat, 01 Nov 2008 00:00:00 GMT

Top-performing manufacturers recognize the importance of aligning talent with strategy, but ensuring that talent is doing all the right things in pursuit of overall strategy is an ongoing challenge.

Guaranteed Signs That Your Revenue Cycle Process Is Failing

Sat, 01 Nov 2008 00:00:00 GMT

Health care organizations that are on top of their revenue cycles grow profitably, generate cash flow, and have long-term confidence in their sustainability. In these continuing days of declining reimbursement and rising costs, can you really afford to leave any cash on the table, uncollected?

Trends in Physician Compensation Design

Sat, 01 Nov 2008 00:00:00 GMT

Many physician organizations are exploring new methods of compensating their physicians to better align physician compensation with organizational goals. In the past 10 years, physicians have seen incentives heavily weighted on productivity–see more patients, perform more procedures. In 2008, physician organization leaders are asking: Are there more effective physician compensation programs for our organization?

Healthcare Trends and Forecasts in 2009 Interview

Thu, 16 Oct 2008 00:00:00 GMT

Listen to the interview with Perry Hanson prior to the "Health Care Trends and Forecast in 2009" webinar that he presented for the Healthcare Intelligence Network.

The growing trend toward integrated care delivery systems can help the U.S. healthcare system refocus on its primary goals — providing coordinated care and returning patients to their optimal health status, explains Perry Hanson, partner with Wipfli, a national accounting and business consulting firm that provides consulting, tax and audit advice for the healthcare industry. Integrated care delivery can also help the U.S. reverse its current last-place rankings in quality, access and efficiency among the global health community, he adds. Citing the success of the medical home model of care in Minnesota, Hanson calls the patient-centered model a "beacon of hope" for a beleaguered healthcare industry. The full webinar can be purchased at http://store.hin.com/Healthcare-Trends-and-Forecasts-in-2009-a-November-5-2009-webinar-on-CD-ROM_p_213-3843.html.

Dental Perspective - Fall 2008

Wed, 01 Oct 2008 00:00:00 GMT

A discussion of top issues affecting your dental practice and key solutions. In this issue:

Are You Paid What You Are Worth? Fee differentiation principles provide guidance for annual fee adjustments
Tax Planning - It’s Never Too Early to Begin
Job Descriptions: The Unsung Hero of Effective HR Management Practices
Annual Fee and Wage Survey

A Practical Approach to Assessing Physician Supply

Wed, 01 Oct 2008 00:00:00 GMT

The nature of the anticipated physician shortage over the next 10-20 years has little to do with the number of physicians in the work force. In fact, “active” physicians per capita are expected to keep pace with the nation’s population growth. On the surface, it would stand to reason that as long as the number of physicians per capita is kept steady, the threat of shortage in the work force will be evaded. Unfortunately, the impending physician shortage the country faces today is far more convoluted and more difficult to track than in the past.

Increase Cash Flow with Cost Segregation

Wed, 01 Oct 2008 00:00:00 GMT

Your company’s real estate holdings compose a significant capital investment. By using a standard asset depreciation technique called cost segregation, your business can reap tax benefits and increase its cash flow.

Congress Enacts Military and Farm Tax Relief

Tue, 16 Sep 2008 00:00:00 GMT

Military families, farmers and ranchers are just some of the recipients of tax breaks in two new federal laws: the Heroes Earnings Assistance and Relief Tax Act of 2008 (the HEART Act) and the Food, Conservation and Energy Act of 2008. Congress authorized more than $3 billion in tax breaks in these two laws. Meanwhile, billions more in other tax breaks are pending in Congress, so it is shaping up to be a big year for tax legislation.

Strategic Financial Planning for Health Care Organizations

Mon, 01 Sep 2008 00:00:00 GMT

Organizational leaders are responsible for planning and ensuring their organization’s financial “health.” Leaders need to understand many factors in the financial planning process,including the following:

The Well-Managed Family Business

Mon, 01 Sep 2008 00:00:00 GMT

Family owned businesses often have a head start over other startups. Relatives already understand each other’s strengths, have longstanding emotional ties, and often share the same sets of values and vision. This familiarity can give them an enviable competitive advantage.

Ten Myths of Global Sourcing

Mon, 01 Sep 2008 00:00:00 GMT

Global sourcing plays a key role in today’s business environment. Nowhere has globalization had a greater direct impact than on manufacturing. Despite this fact, forging global business relationships is an intimidating prospect for many small and mid-sized manufacturers. Misconceptions about global sourcing can prevent many companies from exploring and leveraging the benefits of the global economy.

Fishing for the Right Message

Fri, 01 Aug 2008 00:00:00 GMT

Huh? What does a clownfish hanging out in a green anemone have to do with improving how effective our organizations are? More than you might think…

Best Practices for Software Contract Management

Fri, 01 Aug 2008 00:00:00 GMT

One of the most overlooked components of an enterprise software implementation occurs even before the vendor’s team steps foot in a facility. After spending months developing system requirements and carefully reviewing all the options to identify the software that is the best possible match, many organizations want to jump right into installation and training. While it is important to capitalize on the enthusiasm of the moment, an organization is also wise to take an appropriate amount of time to make sure the software contract with the vendor meets its needs. The following highlights some specific issues that should be addressed in a software contract.

Capital Improvement Financing Options: A Market Update

Fri, 01 Aug 2008 00:00:00 GMT

Over the past two years, many community hospitals have been preparing to access funds in the capital market for replacement or significant renovation.

Many investment bankers were saying that the period represented a great time to borrow, because the "yield curve" was flat and "credit spreads" were compressed. The flat yield curve meant that the interest rate for short-term borrowing (e.g., 5 years) were not much different than the long-term rates for 30 years. The spread compression meant that interest rates for hospitals with mediocre credit didn't differ very much from those with excellent credit.

What Can You Do Under 40? Tips for Changing Your Life and Others.

Wed, 30 Jul 2008 00:00:00 GMT

After being named one of Minneapolis/St. Paul Business Journal's 2008 Forty Under Forty, Nate Wenner shares 39 tips that could help you change your life or someone else's.

Foreclosed Assets

Mon, 28 Jul 2008 00:00:00 GMT

Accounting for transactions concerning foreclosed assets often requires research due to the complexity of the transactions or the infrequency with which they occur. This Accounting Insight is intended to help by summarizing the accounting rules for various foreclosed asset transactions.

Navigating Change in a Windy World

Tue, 01 Jul 2008 00:00:00 GMT

It seems that every time we pick up a newspaper or a business journal these days, we read about change: too much change, too little change, too fast change, too slow change. The message seems as clear as mud: Whatever you’re doing, it's the wrong thing.

Dental Perspective - Summer 2008

Tue, 01 Jul 2008 00:00:00 GMT

In this issue:

Investors’ Biggest Risk? This Information May Surprise You
Small Business Plan Design
Terminating Problem Employees

To ROTH or Not to ROTH Your 401(k)

Tue, 01 Jul 2008 00:00:00 GMT

Some years ago, we had a “penalty” tax for accumulating “too much” in a retirement plan. That potential “penalty” tax, plus the falling income tax rates, called for us to evaluate whether continuing income tax deferral with deductible retirement plan contributions was worthwhile. Ultimately, not many doctors chose to stop funding their retirement plans. Today’s question, “To Roth or Not to Roth Your 401(k)?” calls for a similar analysis.

Capital Improvement Financing Options: A Market Update

Tue, 01 Jul 2008 00:00:00 GMT

As the market undergoes ongoing changes, so do capital improvement financing options. Therefore, it is important to understand the current trends, their implications and possible solutions, in order to effectively navigate the current market.

What’s Your Dealership Worth? Guidelines to Setting a Price

Tue, 24 Jun 2008 00:00:00 GMT

When you consider selling your dealership, the first question that arises is, what is it worth?

Tracking Productivity and Efficiency

Mon, 02 Jun 2008 00:00:00 GMT

Proficiency, efficiency, productivity, unapplied time and lost capacity…

Do you really need to know this stuff? Absolutely! It is very important that service shop and collision shop professionals understand this “stuff.” Due to the nature of your business, such measurements can help you determine how successful you are at utilizing, managing, and selling your inventory - time!

Information Technology and Your Trust Department

Sun, 01 Jun 2008 00:00:00 GMT

When a bank evaluates and manages information technology (IT), it should not forget to include its trust department. Many institutions overlook their trust department when evaluating and managing IT issues, but a trust department has many of the same IT concerns as other departments of the bank.

Protecting IT: A Question of Risk, a Matter of Time

Sun, 01 Jun 2008 00:00:00 GMT

Information is often a company’s most significant and most sensitive asset. Protecting it, along with the integrity and availability of information systems, should be among an organization’s top priorities.

IRS Provides Rollover Relief in Retirement Account Mismanagement Case

Fri, 02 May 2008 00:00:00 GMT

The IRS is providing relief to taxpayers who have experienced problems with the management of their retirement accounts. In a private ruling recently, the IRS determined that one taxpayer, whose retirement funds had been mismanaged by two banks, was entitled to treat the amounts he received in court settlements against the managers as rollovers.

Top Lessons to Learn from the 2008 Tax Filing Season

Fri, 02 May 2008 00:00:00 GMT

Now that the 2008 filing season is over, it's a good time to take a look back and learn some lessons from this filing season that can help you next year. Many of this year's lessons arise each year, while others are unique to 2008. The following is a list of 10 top lessons individuals should learn from this just-completed tax season.

Getting Benchmarking Right

Thu, 01 May 2008 00:00:00 GMT

At its core, manufacturing success hinges on making better decisions than the competition. To do so, an organization must quickly assimilate and act on accurate information—information that reflects an in-depth understanding of both internal performance and the choices the competition is making to succeed in the marketplace.

Getting Back ATM

Thu, 01 May 2008 00:00:00 GMT

The effects of AMT on taxpayers

When Does a Gift Require a Gift Tax Return?

Thu, 01 May 2008 00:00:00 GMT

If you've made, or are planning to make, a big gift this year, you may be wondering what your gift tax liability, if any, may be. You may have to file a federal tax return even if you do not owe any gift tax. Read on to learn more about when to file a federal gift tax return.

Transparent Pricing in Health Care: Are You Ready?

Thu, 01 May 2008 00:00:00 GMT

In the future, the prices charged by a health care provider (along with the provider’s perceived quality) will increasingly shape the public’s perception of value.

Independent Living Apartment to Assisted Living (Residential Care Apartment Complex) - Conversion, Background, and Issues

Tue, 01 Apr 2008 00:00:00 GMT

Many senior independent living apartments in Wisconsin are experiencing chronic, longer term vacancies due to several factors—not the least of which is the aging population that has not grown as significantly in the past 10 years as it will in the next 20. To resolve the occupancy issue, many senior independent living operators should consider the strategy of conversion to a Residential Care Apartment Complex (RCAC), which is a regulated and licensed assisted living alternative in Wisconsin.

Tax Planning in an Era of Falling Interest Rates

Tue, 01 Apr 2008 00:00:00 GMT

Falling interest rates and the current slowdown in the economy are having a widespread affect on today's economy and individuals' financial resources, from savings accounts to personal loans and credit card debt. The drop in interest rates that has occurred over the course of the last few months has also produced strategic tax planning opportunities for individuals contemplating certain types of asset transfers.

Pay for Performance: The Basics of a Good Plan

Tue, 01 Apr 2008 00:00:00 GMT

A well-structured PFPS enhances all aspects of employee performance to support the dealership’s business, strategic and financial objectives. It’s not uncommon for chronically unprofitable dealerships to go cash-flow positive within a few weeks of implementing a well structured PFPS.

Dental Perspective - Spring 2008

Tue, 01 Apr 2008 00:00:00 GMT

In this issue:

Keys to a Successful Practice Transition
Determining Value: What is My Practice Worth?
The Importance of Soft Skills in Leadership
Solution Highlight: Benchmarking for Performance Improvement

Is Your Trust Department Fulfilling its Fiduciary Responsibilities?

Sat, 01 Mar 2008 00:00:00 GMT

Has your financial institution been granted fiduciary powers, and does it exercise the fiduciary powers it has been granted? If you answered yes, your trust department is subject to an annual audit.

Physician Flight to Security: Using Service Line Planning as an Alignment Strategy

Sat, 01 Mar 2008 00:00:00 GMT

This is the first of three articles. Together, these articles are intended to show the benefits of service line planning and identify critical steps necessary for successful implementation.

Microsoft Dynamics CRM 4.0 Optimizing and Maintaining Performance

Thu, 28 Feb 2008 00:00:00 GMT

This white paper complements other resources that are specific to optimizing and maintaining the components that make up a MS Dynamics CRM implementation. This document provides relevant context for each topic, information on maintaining and optimizing that component specifically within the MS Dynamics CRM implementation, and links to related resources for additional guidance for a particular environment.

Benchmarking – “Best” Practice Makes Perfect

Fri, 01 Feb 2008 00:00:00 GMT

Practices use benchmarks to improve their performance. Benchmarking will show how you stack up to others as well as how you stack up to where you should be, including where you exceed and where you fall short.

Are Early Filers More at Risk of Being Audited?

Fri, 01 Feb 2008 00:00:00 GMT

Often, timing is everything, or so the adage goes. From medicine to sports and cooking, timing can make all the difference in the outcome. What about with taxes? Does timing play a factor in raising or decreasing your risk of being audited by the IRS? For example, does the time when you file your income tax return affect the IRS's decision to audit you?

Some individuals think filing early will decrease their risk of an audit, while others file at the very-last minute, believing this will reduce their chance of being audited. And some taxpayers don't think timing matters at all.

Family Care 101: A New Era in Managed Long-Term Care

Fri, 01 Feb 2008 00:00:00 GMT

Family Care is a managed-care alternative for long-term care services. It began in 2005, although there have been five pilot Family Care projects operating since 1999, and is currently being expanded statewide.

What is Family Care? This article contains information about Family Care that is pertinent to providers who are making the decision about whether to contract with Family Care/MCOs. A future article will detail the reimbursement in Managed Care for assisted-living facilities and nursing homes, and other services covered by Family Care.

AML Vigilance Requires a Sound Program

Fri, 25 Jan 2008 00:00:00 GMT

In the years since the Bank Secrecy Act (BSA) was first introduced, CEOs and boards of directors have lamented the regulatory burden and the high cost of implementing protection against anti-money laundering (AML). Yet the consequences of noncompliance are likewise costly—severe enforcement actions and civil and criminal penalties, not to mention damage to an organization's reputation.

Health Care Trends and Issues for 2008

Tue, 01 Jan 2008 00:00:00 GMT

Each year, the Wipfli Health Care Practice takes a look at the pertinent issues that shape business decisions in the health care industry. This year, our focus is on hospitals and physicians and four major areas we think will have the greatest impact on the industry in 2008. As we look at the landscape of our ever-changing industry, there are many issues that occupy the thinking of health care leaders, but the following appear to loom as the most significant for the coming year:

Dental Perspective - Winter 2008

Tue, 01 Jan 2008 00:00:00 GMT

In this issue:

Where Are You Headed - North, South, East, or West?
Wealth Management: Aligning Your Long-Term Strategies
The Importance of Soft Skills in Leadership

Capital Gains Year-End Planning: Still Time to Make a Difference

Mon, 03 Dec 2007 00:00:00 GMT

Year-end tax planning for capital gains and losses becomes more complicated as Congress changes capital gains rates from year to year. Certain techniques have always made sense.

By Design or By Default: Your Culture Is in Your Hands

Sat, 01 Dec 2007 00:00:00 GMT

Culture is one of those hard-to-get-your-arms-around concepts. We all know it exists and that it encompasses so many elements it’s hard to know just where to start. There is a culture in your hospital, whether you do anything about it or not, so we might as well be intentional about it and get the most out of our efforts. Here is our working definition of culture:

“The shared beliefs, values, customs, and behaviors of a set of people or an organization as viewed from both the outside and the inside.”

This gives us something to work with. This article will expound briefly

on all of these elements but will also look at the overarching principle

of Leadership in relation to Culture—you cannot have one without the

other.

Critical Access Hospital Medicare Cost Report - Annual Checkup

Sat, 01 Dec 2007 00:00:00 GMT

This checklist is a tool for evaluating your Medicare cost report, assuring proper reimbursement for your hospital, and potentially boosting your overall financial performance.

Eight Reasons to Revisit Your Compliance Program

Thu, 01 Nov 2007 00:00:00 GMT

For some financial institutions, revisiting issues of compliance may seem like déjà vu all over again. (“Wasn’t testing performed just last year?!”)

Why Do We Need Enterprise Risk Management?

Thu, 01 Nov 2007 00:00:00 GMT

For the last few years, enterprise-wide risk management has been a buzz saw ripping through corporate America and the world. The opinions of corporate managers range from "Enterprise risk is not required, therefore not needed" to “Oh My Gosh! How am I going to do this on top of everything else I need to do?”

Maximize Labor Sales: Managing Productive Capacity and Forecasts

Thu, 01 Nov 2007 00:00:00 GMT

Are you accurately measuring and forecasting your productive capacity? Many dealerships fail to conduct necessary in-depth analyses, often resulting in false forecasts. In fact, labor sales reports may not reveal the entire picture; what could appear to be a great month, in reality may not be cause for much celebration.

Medicare/Medicaid Reimbursement Pitfalls of the Skilled Nursing Facility

Thu, 01 Nov 2007 00:00:00 GMT

The case mix indices were recently published for Wisconsin SNF Medicaid residents as were the new Medicare rates. Many facilities noted that their Medicaid rate dropped significantly from 2006 and their overall average Medicare rate per day either dropped or remained stagnant.

Wisconsin case mix indices range from 0.629 to 1.840. With the December 31, 2006, picture date, 187 facilities decreased, 4 facilities stayed neutral, and 205 facilities increased. However, due to the reallocating of funds and failure at the budgetary level, it is expected that as of the December 31, 2007, picture date, the July 1, 2008, rates will show significant decreases in Medicaid per day rates with some facilities forecasted to lose as much as $10 per day in Medicaid revenue.

Mining Revenue Cycle Opportunities in Health-System-Based Medical Practices

Thu, 01 Nov 2007 00:00:00 GMT

When it comes to actually integrating the new units, system leaders often find the unfamiliar medical practice business model a challenge: Should incoming practices be left to operate as they have been? If not, which clinic areas should be consolidated with hospital operations? When? How?

Dental Perspective - Fall 2007

Mon, 01 Oct 2007 00:00:00 GMT

A discussion of top issues affecting your dental practice and key solutions. In this issue:

Year-End Tax Planning for Your DentalPractice
Evaluating and Monitoring YourRetirement Plan: Does Your Plan Measure Up?
Aligning Performance Management and Compensation Systems
Solution Highlight: Fee Schedule Review and Volume Impact

Minimizing Construction Risk for Hospitals

Mon, 01 Oct 2007 00:00:00 GMT

Hospitals have only a small margin of error when performing major construction and replacement projects. A single mistake in planning or oversight in project management may be enough to send a construction job into a tailspin that costs millions to resolve. When planning for the development of new facilities, hospitals must dedicate appropriate time for planning and decision making before any shovel is put to the ground. The planning should be grounded in the key foundations and issues described in this article. This will ensure facility investment decisions are sound and will provide the most value into the future.

Physician-Hospital Integration: The Consolidation Continues…

Mon, 01 Oct 2007 00:00:00 GMT

In the last month, the Twin Cities’ medical market heard the news that two of the area’s larger private, multispecialty groups were in merger discussions with Integrated Delivery Systems (IDS): Aspen Medical Group (160 providers) with Allina and Columbia Park Medical Group (87 physicians) with Fairview Health Services. A September 7, 2007, Minneapolis Star Tribune article stated that "other clinic groups are said to be looking for larger partners.”

Wipfli’s Health Care group is concurrently conducting integration projects in 10 states. The August 2007 release from the Center for Studying Health System Change (HSC) reported “the proportion of physicians in solo and two-physician practices decreased significantly from 40.7% to 32.5% between 1996-97 and 2004-05.”

"Reasonable" Compensation is a Hot Button for IRS

Mon, 06 Aug 2007 00:00:00 GMT

In order to be tax deductible, compensation must be a reasonable payment for services. Smaller companies, whose employees frequently hold significant ownership interests, are particularly vulnerable to IRS attack on their compensation deductions.

Reasonable compensation is generally defined as the amount that would ordinarily be paid for like services by like enterprises under like circumstances. This broad definition is supplemented, for purposes of determining whether compensation is deductible as an ordinary and necessary expense, by a number of more specific factors expressed in varying forms by the IRS, the Tax Court and the Circuit Courts of Appeal, and generally relating to the type and extent of services provided, the financial concerns of the company, and the nature of the relationship between the employee and the employer.

Alternative Hospital/Physician Strategies to Create a More Effective and Efficient Community Delivery System

Wed, 01 Aug 2007 00:00:00 GMT

Mainstream thinking has been that a clinic must be owned and operated by the hospital in order to qualify as a department of the hospital and, therefore, provider-based reimbursement. However, with a wellstructured professional-services agreement that properly allocates responsibilities for management and employment of nonphysician staff and describes the appropriate areas of integration, both administrative and clinical, together with fair-market-value building and equipment leases, a clinic can retain a reasonable level of independence and still achieve significantly improved financial performance. Such improvement in financial performance does not have to be delivered at the expense of the hospital’s operating margin, as is so often the case with service-line joint ventures. By assessing the requirements, benefits, and costs connected with provider-based reimbursement, hospitals and physicians can pursue truer integration for the community’s benefit while not abdicating a clinic’s independence, which is so important to so many physicians.

Physician Incentive Programs to Broaden Rewards

Wed, 01 Aug 2007 00:00:00 GMT

Most medical practices, independent and hospital-owned, exclusively weight their physician incentive programs on the productivity of the physicians. Their income distribution formula (IDF) will pay more to those physicians who see more patients, produce more revenue or work relative value units (wRVUs), or have higher collections from their services. Unfortunately, the result of these productivity-only based plans often creates an individual approach to care delivery, when a group approach is far better.

Deposit Accounts: Addressing Market and Pricing Issues

Wed, 01 Aug 2007 00:00:00 GMT

Every financial institution must develop plans to increase deposit growth. One of the keys to developing a sound strategy is to understand customers’ banking and savings activities, behaviors, and patterns.

Preparing for a Capital Financial Project: A Checklist

Sun, 01 Jul 2007 00:00:00 GMT

This article discusses 10 key “checklist” points that are essential to the success of any major financing project, which is defined here as a new capital project involving a level of financing that will have significant implications to future operations for a period of several years.

Dental Perspective - Summer 2007

Sun, 01 Jul 2007 00:00:00 GMT

In this issue:

Wipfli and Dental Practice Advisors: A New Relations hip is Forged
Eliminating Vulnerabilities: Keeping Your Network Safe
Employee Handbooks: An Effective Communication Tool
Solution Highlight: Dental Team Assessment

The Leadership-Focused Organization

Fri, 01 Jun 2007 00:00:00 GMT

This article is designed for organizations that want to make a serious commitment to becoming high performers or sustaining their current efforts to reach new peaks. Whether performance improvement efforts are currently underway or you are just starting the journey, this article contains valuable insights and an organizational framework to help you move beyond acceptable performance to extraordinary accomplishments.

Understanding Strategic Risks

Fri, 01 Jun 2007 00:00:00 GMT

Strategies are hypotheses based upon a number of assumptions. Every single element of strategy can be influenced—to some extent—by uncertainty. While the concepts of risk and uncertainty commonly conjure images of what could go wrong, the idea of managing strategic risk includes consideration of seizing opportunities as they arise. This article introduces strategic risk; for simplicity, we are focusing on threatening risks.

No Bright Line Between Businesses and Hobbies

Thu, 03 May 2007 00:00:00 GMT

Businesses benefit from many tax breaks. If you are in business with the objective of making a profit, you can generally claim all your business deductions. If your deductions exceed your income for the year, you can claim a loss for the year, up to the amount of your income from other activities. Remaining losses can be carried over into other years.

These are very generous tax breaks and sometimes people establish a business to generate losses. They have no intention of ever earning a profit. Other times, they genuinely hope to earn a profit but never do.

The IRS calls these activities "hobbies." Expenses from these activities are never deductible in excess of any income that is declared earned from them. Recently, the IRS issued a new warning in the form of a Fact Sheet (FS-2007-18) to educate taxpayers about the differences between a for-profit business and a hobby.

Four Popular Approaches to Health Care Performance Improvement

Tue, 01 May 2007 00:00:00 GMT

This article provides a brief, high-level overview of four performance tools and techniques. Please note that entire books could be written on any of these approaches; this article is intended only to give you an idea of the options that are available.

Health Care Leadership - Creating Synergy at the Top

Tue, 01 May 2007 00:00:00 GMT

Health care organizations seldom reach their full potential without strong leadership at both the board and executive level. High performing organizations not only have strong leadership in these key areas but also have significant synergy between the board and senior leadership in virtually all areas of their responsibilities. In essence, they function as well-practiced teams when it comes to competency and overall outcomes.

Joint Expansion Efforts: A Road Map for Success

Sun, 01 Apr 2007 00:00:00 GMT

Wipfli’s health care business consultants often work with organizations that want to expand their marketplace footprints and service offerings. These new initiatives often take the form of “joint ventures” between hospitals and physicians.

Joint expansion efforts take a significant amount of thought and leadership to be successful. Two significant challenges in getting the entire team “on board” include physician buy-in and board of director buy-in. Obtaining both of these critical elements demands significant organizational and leadership skills, resources, and hard work on the part of the project steering committee.

The Strategic/Business Case for a Community-Based Integrated Health Delivery System

Thu, 01 Mar 2007 00:00:00 GMT

This article will explore the driving forces behind the increasing number of community-based health delivery system integrations and their optimal design. Over the last 20 years and continuing into the future, the profession of practicing medicine has changed dramatically, with decreasing reimbursement and an emerging consumer demand a more comprehensive “value proposition” than previous patients have demanded. This article delves into the fundamental changes happening to patients, physicians, and the community hospital, resulting in a community-based integration as an optimal model to service the health care needs of a population.

The Strategic/Business Case for a Community-Based Integrated Health Delivery

Thu, 01 Mar 2007 00:00:00 GMT

Over the last 20 years and continuing into the future, the profession of practicing medicine has changed dramatically, with decreasing reimbursement and an emerging consumer demanding a more comprehensive “value proposition” than previous patients have demanded. This article delves into the fundamental changes happening to patients, physicians, and the community hospital resulting in a community-based integration as an optimal model to service the health care needs of a population.

Focus on Revenue Cycle Improvements

Thu, 01 Feb 2007 00:00:00 GMT

Revenues are shrinking...and most health care organizations believe they’ve squeezed about as much as they can out of expenses. This means there is heightened pressure to seriously look at revenue cycles to improve efficiency, make sure every service is being billed, and ensure that every payment is as good as it can be.

Driving for Results: Taking a Disciplined Approach to Business Planning

Thu, 12 Oct 2006 00:00:00 GMT

Winning in today’s tough market requires a solid game plan, one that consists both of an offensive approach (gross generation) and strong defensive measures (expense control). In fact, cost cutting is a necessary part of any disciplined plan, and most dealerships can benefi t by taking a more strategic approach. For starters, focus on the critical areas that represent the best opportunities for cuts. They include personnel (both head count and pay plans), variable expense, policy (that notorious catch-all category), advertising, and floorplan interest expense. Then stay on the defensive by working cost cutting into your overall business planning.

Check Your Credit Report

Mon, 03 Jul 2006 00:00:00 GMT

There’s no denying it: errors can and do appear in credit reports. That’s why Wipfli and the Wisconsin Institute of CPAs recommend requesting a copy of your credit report at least once a year. You should also check your credit report several months in advance before applying for a mortgage, an auto loan, a job, or renting an apartment.

IRS Creates Safe Harbor for Heavy Equipment Dealers

Fri, 03 Feb 2006 00:00:00 GMT

Many businesses have special tax concerns that are unique to their industry. The general rules in the Tax Code can have unintended consequences. To respond to these problems, the IRS created the Industry Issue Resolution (IIR) program.

The IIR program examined a tax problem that heavy equipment dealers were experiencing and recommended some changes. As a result, the IRS has enacted a safe harbor for heavy equipment dealers that use the replacement cost method when calculating the cost of their inventory.

Surviving Divorce: Protect Yourself Financially

Mon, 01 Aug 2005 00:00:00 GMT

Divorce not only dissolves a marriage; it dissolves a financial relationship. For some who may not have had much experience in money matters, the financial aspects of ending a marriage can be overwhelming. Wipfli and the Wisconsin Institute of CPAs offer the following advice to help people experiencing a divorce protect their financial future.

Let Your College Savings Grow Tax Free

Fri, 01 Jul 2005 00:00:00 GMT

When should you begin saving for your children’s college costs? Given that the price tag for higher education, now nearly $13,000 a year for a public college, increases at about twice the inflation rate, the short answer is sooner rather than later. A few minutes with a calculator will help fuel this sense of urgency, if you’re not already feeling it. Then, the danger becomes denial and the lost opportunity that results from failing to devise a workable strategy to meet the challenge. I, therefore, recommend that families empower themselves by learning first about the tax-advantaged college savings options available to help ease this financial burden.

The Family Business: Built to Last?

Fri, 01 Jul 2005 00:00:00 GMT

By now, it’s a familiar statistic: nearly two-thirds of family-owned businesses do not survive the founders’ generation. And while that appears to be a bleak figure, research bears out that family-owned companies overall typically have qualities that give them the edge over nonfamily ones.

Many studies have been conducted to determine what contributes to long-term, family-owned business success, and what factors are prevalent in those that fail to make it past the second generation. Here are some commonly held findings to help you understand what makes or breaks the family biz, in order to sustain your own entrepreneurial success for generations to come.

IRS Targets High-Income Taxpayers to Close Tax Gap

Sun, 01 May 2005 00:00:00 GMT

Confronted with a widening tax gap -- the difference between taxes owed and taxes paid on time -- the IRS is putting more resources into enforcement, and new audit figures show it.

Supreme Court Shields IRAs in Bankruptcy

Sun, 01 May 2005 00:00:00 GMT

In a big victory for taxpayers, the Supreme Court has unanimously found that individual retirement accounts (IRAs) are beyond the reach of creditors. The decision protects the retirement savings of individuals who file for bankruptcy protection.

Tax Penalties: How Much Can a Mistake, or Worse, Cost?

Sat, 01 May 2004 00:00:00 GMT

You should beware of fancy footwork when it comes to estimating, filing, and paying federal taxes. One misstep can lead to harsh penalties. Willful or fraudulent mistakes can generate criminal sanctions as well.

Navigating CTR Form 112 on the BSA E-Filing System

Tue, 15 Dec 2015 00:00:00 GMT

As of April 1, 2013, the BSA e-filing system on FinCEN’s website requires electronic filing for all CTRs and requires financial institutions to utilize CTR Form 112 to file these mandated reports.

While the purpose of the CTR form has not changed, some data fields have been updated to allow additional information to be provided. Questions have been raised about expectations of what is to be reported on the new form and how information should be presented. We have identified 10 frequently asked questions, and we answer them here.

Managing Cash Flow Through Tough Economic Times

Mon, 14 Dec 2015 00:00:00 GMT

This webinar was recorded on December 10, 2015.

This recorded session provides hospitals with an approach to manage revenue cycles so that the potential reduction in payments from ICD-10 implementation will be minimized. We discussed recent changes in the health care industry that impact hospital revenue cycles. An overview of the revenue cycle, best practices, and key performance indicators will help your hospital prepare for any downturns in claim payments.

Following this session, you will be able to:

Identify several current factors in the health care industry that will have a direct or indirect impact on the hospital revenue cycle.
Develop action plans to combat potential payment reductions due to ICD-10 implementation.
Implement revenue cycle best practices to attain optimal performance and maintain compliance.
Define key performance indicators for your revenue cycles and manage this information to identify aberrant or marginal processes.
Describe those processes that will enable your hospital to balance receivables and payments effectively.

Preventive & Detective—Are the Controls in Place?

Mon, 14 Dec 2015 00:00:00 GMT

Internal controls are an integral part of every institution and are used to guide operations, promote efficiency, safeguard assets, and avoid errors and irregularities. Internal controls are of two types: preventive and detective.

1099 Information Reporting Guide for Small Businesses for 2015

Mon, 14 Dec 2015 00:00:00 GMT

Unless otherwise noted, most information forms are due to the recipient by February 1, 2016, and to the Internal Revenue Service by February 29, 2016 (March 31, 2016, if filing electronically – see Section IV. – ELECTRONIC FILING REQUIREMENTS for who must file electronically).

ICD-10: So You Think the Dust Has Settled…

Tue, 08 Dec 2015 00:00:00 GMT

Health care providers have been preparing for the changeover to ICD-10 and now that the October 1, 2015, deadline has passed, everyone can sit back, relax, and breathe easier . . . right? Not exactly. There is still work to be done. There are expected and unexpected challenges that still need to be addressed, documentation that must be refined, and there is ongoing education that must be provided to coding professionals. Continue reading to discover six areas that need your attention now more than ever.

Top Four Traits of Innovative Health Care Leaders

Tue, 08 Dec 2015 00:00:00 GMT

Within the health care industry, innovation and leadership are terms that go hand in hand. The role of an innovative health care leader is to stimulate team members to create new ideas that provide the best possible outcomes for patients and the communities in which they reside. There is no “one-size-fits-all” leadership approach that will work with the rapidly changing dynamics in health care. In order to stay ahead of the innovation curve, health care leaders must accomplish a few things really well in their organizations. Continue reading to learn about the top four traits of innovative health care leaders.

Accounting for Mergers and Acquisitions

Tue, 01 Dec 2015 00:00:00 GMT

Accounting for business combinations can be problematic, but a little bit of planning will go a long way to ensure it goes as smoothly as possible.

So, You’re Thinking About Brokering Mortgage Loans

Tue, 01 Dec 2015 00:00:00 GMT

Many financial institutions have already become brokers of mortgage loans rather than or in addition to being direct lenders. There are various reasons: lack of underwriting expertise, lack of compliance expertise, lack of experience to perform certain agency-related lending such as VA or FHA loans, or plain old compliance fatigue.

Field Exams: How Your Financial Institution Can Benefit

Tue, 01 Dec 2015 00:00:00 GMT

Just as current lending practices have evolved, so has the focus and importance of field exams. In the recent recession, many financial institutions have seen a significant decline in the profitability of their customers and therefore have had to rely on collateral for repayment. Upon liquidating the assets, many financial institutions have found the collateral to be inadequate to satisfy the outstanding debt and, consequently, have suffered significant losses.

Get Acquainted with Chronic Care Management Services - Recorded Webinar

Tue, 24 Nov 2015 00:00:00 GMT

This webinar was recorded November 18, 2015.

This recorded webinar provides an overview for hospitals and clinics of the Medicare coverage, coding, and billing requirements for CCM services. We defined the term “clinical staff” and listed the most common chronic conditions. We also described the CCM components, including staff availability, continuity of care, and comprehensive care plan elements, along with an overview of the EHR requirements, coding and billing guidance, and payments for CCM services.

After listening to this session you will be able to:

Understand the coverage requirements for CCM services and give examples of eligible chronic conditions.
Define the term “clinical staff” and define qualifying staff time and supervision requirements.
Evaluate and describe the EHR requirements, assign the appropriate CPT code for CCM services, and understand the professional and facility payment rates assigned to CCM services.

Executive Compensation Review: It’s That Time of Year Again!

Thu, 19 Nov 2015 00:00:00 GMT

Across the country, board Compensation Committees are again gearing up for the annual review of CEO compensation, made more challenging by regulatory guidelines and the ongoing need for risk- assessed compensation. The movement toward more active and engaged board participation on executive compensation is appropriate and coincides with “leadership/governance lessons learned” over the past seven years.

A Service Level Agreement Primer: Optimizing Outcomes

Mon, 16 Nov 2015 00:00:00 GMT

In today’s technology-driven business culture, there are a number of concerns regarding service expectations from suppliers/providers to customers/end users. As a result, it is becoming increasingly necessary for both sides of the service equation to carefully evaluate how the delivery of services can impact performance and the bottom line.

Born out of the growing need for a formal contract, service level agreements (or SLAs) can help establish agreed-upon performance metrics between technology service providers and end users. Some of the most frequent users of SLAs are telecom companies, Internet service providers, and IT service providers. While many SLAs are established between companies and external suppliers, they are becoming increasingly popular between departments within the same company, such as between the IT department and internal customers.

The point of an SLA is to clearly state service expectations and therefore minimize potential issues between both parties. By mastering the ins and outs of SLAs, service providers and end users alike can experience the freedom and security that comes with shared understanding and well-defined performance metrics.

This white paper provides a conceptual overview of SLAs, shows how they can be used, and explores samples of the roles and responsibilities of involved parties. The examples herein are based on SLAs for internal departments within health care organizations but can easily be applied to any workplace environment.

Managing Cybersecurity Risk: Top 5 Tips for Manufacturers - Recorded Webinar

Mon, 16 Nov 2015 00:00:00 GMT

Cybersecurity is becoming vitally important in the manufacturing industry today. Manufacturers are recognizing the need to better protect their manufacturing data and systems as well as sensitive customer, supplier, and product information. But what should you be doing to protect your company’s information? It can seem overwhelming and complicated.

Where do you start? How do you prioritize? How do you break it down into actionable steps?

This information-packed webinar will provide a solid overview of cybersecurity risks, and you’ll glean 5 actionable tips and key strategies to help mitigate risk. We’ll help you determine where to start based on your biggest areas of risk – and we’ll help you understand how to identify that – and give you tools to manage your cybersecurity program.

Who should attend?

This webinar is intended for business owners, CEOs, COOs, CIOs, and other professionals in your organization responsible for cybersecurity; or would be impacted if your systems were breached.

Multifaceted Benchmarking: Financial Performance Benchmarking

Fri, 13 Nov 2015 00:00:00 GMT

Profit margins for senior living providers who serve Medicaid and low income individuals are razor thin. Without a solid financial plan, an effective budget, and timely response to operational and industry changes, a senior living facility will struggle to survive.

The first step in the financial planning process is to determine the strategic and financial goals for your facility. When determining your financial goals, it is important to keep in mind short- and long-term strategic objectives as well as more immediate concerns such as debt covenants, which often include minimum levels for the debt service coverage ratio and days cash on hand.

Continue reading to learn how to build a solid financial plan, an effective budget, and respond appropriately to operational and industry changes for your senior living organization.

So You Think the Dust Has Settled…

Wed, 04 Nov 2015 00:00:00 GMT

Now that the October 1, 2015, deadline has passed, everyone can sit back, relax, and breathe easier . . . right? Not exactly. While most of the long-term care profession was prepared and ready, there is still work to be done. There are expected and unexpected challenges that still need to be addressed, there is documentation that must be refined, and there is ongoing education that must be offered to coding professionals.

Continue reading to learn more about anticipated billing challenges, loss of productivity, provider documentation, coding guidelines, EHR and other technologies, and continuing education in response to new ICD-10 regulations.

There’s Good News When Accounting for Goodwill

Mon, 02 Nov 2015 00:00:00 GMT

That time of year is approaching: audit season. Companies everywhere are closing their books and reconciling accounts, and some are deciding how to record any business combinations that might have occurred during the year. For many, the accounting guidance on business combinations and the recognition of any associated goodwill or intangible assets has been confusing to say the least. And financially costly. And a time-drain.

As a result, the questions from businesses to auditors have typically been the same: “Do I really have to do all those steps? Can’t I just call it all goodwill and amortize it over 10 years?” In the past, the answer from auditors was always “no.”

That’s now changed. The good news is that the FASB heard concerns and in response issued ASU 2014-2 and ASU 2014-18. This guidance is meant to simplify and reduce the costs of accounting for business combinations and the recognition of any associated intangible assets. It applies to all entities except public companies (as defined with the Codification) and not-for-profit entities.

Expense Report Fraud: How It Happens and How to Fight It

Mon, 02 Nov 2015 00:00:00 GMT

Expense reporting is a common and necessary business practice. It’s also commonly abused, and in extreme cases, used to conduct fraud. In fact, the Association of Certified Fraud Examiners (ACFE) reports that the estimated median loss from expense reimbursement fraud in 2014 was $30,000. In addition, ACFE findings show that individuals perpetrate such schemes for at least two years before being discovered.

When you also consider that nearly every employee within a business has the opportunity to submit expense reports for reimbursements, you begin to further understand the magnitude of this threat.

Accounting for Technology: Properly Allocating the Costs of Internal-Use Software

Mon, 02 Nov 2015 00:00:00 GMT

Sooner or later, every business or organization upgrades the software it relies upon. When that need arises, planning is needed to ensure all goes smoothly. Likewise, planning is needed to ensure that the accounting for that next upgrade also goes smoothly. Identifying which costs to expense and which to capitalize, before beginning any upgrades, will make reporting much easier on you and your accountant.

Adopting the New-and-Improved Inventory Reporting Guidelines

Mon, 02 Nov 2015 00:00:00 GMT

Recently the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-11 to simplify the ways certain businesses report inventory. The new standard requires businesses that use the first-in, first-out (FIFO) or average cost methods to measure inventory to now use the lower of cost or net realizable value (NRV) instead of the lower of cost or market value. Most, but not all, stakeholders welcome this change.

Don’t Forget About the Escrow Cancellation Requirements Effective October 3, 2015

Sun, 01 Nov 2015 00:00:00 GMT

While you might be aware of the Loan Estimate and Closing Disclosure changes effective October 3, 2015, did you also know that the Consumer Financial Protection Bureau’s Integrated Mortgage Disclosure rule includes an Escrow Closing Notice disclosure requirement that is effective October 3, 2015, as well?

Bring Your Own . . . Device

Sun, 01 Nov 2015 00:00:00 GMT

The time has arrived to land on a plan

When one year ends and another begins, it is often time to consider implementation of new plans. As 2016 approaches, those of us responsible for overseeing information technology will undoubtedly be sought out by employees who are looking to connect their new personal mobile computing devices to the corporate network. The concept of integrating a device that is not owned by the financial institution into the corporate network for the purpose of accessing corporate data has been coined “Bring Your Own Device” (BYOD). In case you have not heard the news, the mobile devices that are now part of our everyday lives are not going away, and consumers are driving the increased usage.

Community Bank 2015 Year-End Tax Planning

Sun, 01 Nov 2015 00:00:00 GMT

Year-end tax planning for 2015 will once again be challenging for community banks due to potential beneficial extensions of provisions in the tax laws (known as extenders) that are expected to pass but haven’t been voted on yet. Numerous provisions may be in the extender package including:

50% bonus depreciation
Enhanced Section 179 expensing of $500,000 (vs. the current $25,000)
Shortened built-in gains tax periods for subchapter
S corporations

Although many in the House and Senate support these measures, there is disagreement on how to pay for them. Throw in the politics related to the upcoming election and it only increases the uncertainty. Most likely, it is expected that in very late December Congress will enact a short-term extenders package that will be retroactive to January 1, 2015, and be effective through December 31, 2016.

FASB Project Update

Sun, 01 Nov 2015 00:00:00 GMT

The Financial Accounting Standards Board (FASB) is currently working on a number of accounting standards that will have significant impact on the financial institution industry, and it looks like these projects will be completed by the first half of 2016. The following article provides a status update and the anticipated completion date for each project.

Since 2005, FASB and the International Accounting Standards Board (IASB) have been working on standards to improve and simplify the accounting and reporting for financial instruments. Financial instruments are specifically defined in accounting principles generally accepted in the United States (GAAP) and include assets and liabilities such as securities, loans, deposits, borrowings, and derivatives.

Amortization and Accretion Regulations and Their Effect on Trust and Wealth Management Accounts

Sun, 01 Nov 2015 00:00:00 GMT

In 2010, the Internal Revenue Service (IRS) issued final regulations on the reporting of sales of securities and their related cost basis. Those regulations became effective for less complex fixed income securities acquired on or after January 1, 2014, that impact amortization and accretion requirements for broker dealers. These requirements vary depending on the type of bond, the issue date of the bond, and the date the bond was purchased.

Prior to January 1, 2014, a taxpayer was required to amortize tax-exempt bonds and report original issue discount (OID) annually. The taxpayer was required to make an election to amortize taxable bonds. Market discount was reported at the time of disposition unless the taxpayer elected to recognize annually.

Board Governance for the New World of Banking

Sun, 01 Nov 2015 00:00:00 GMT

Following the financial crisis and the effects of the latest economic cycle, the OCC adopted risk governance guidelines in September 2014 with “heightened expectations” for risk management for banks with assets of $50 billion or more. In July 2015, the Basel Committee on Supervision released guidelines for corporate governance principles for banks with an emphasis on the importance of effective corporate governance for the safe and sound functioning of banks. It stresses the importance of risk governance as part of banks’ overall corporate governance framework and promotes the value of strong boards and board committees together with effective control functions.

While these guidelines apply to larger banks with over $50 billion in total assets, we anticipate these principles will spill over to regulatory expectations for community banks. Given the likelihood that these guidance principles will affect the regulatory evaluation of community banks, we believe it is good business practice to be aware of these regulatory guidelines and consider ways now to align board governance policies and practices with these heightened expectations where feasible. While we recognize the difficulty smaller banks have in complying with expectations for much larger organizations, there are some practical ways to incorporate these governance principles in community banks.

Why Boards Are (or Should Be) Discussing Mergers or Acquisitions

Sun, 01 Nov 2015 00:00:00 GMT

The recent recession brought significant change to the community banking industry, and in many ways, it is not going back to the way it was. With bank failures primarily over for this economic cycle, there are several different factors forcing boards to think about mergers or acquisitions.

Geographic Targeting Orders

Sun, 01 Nov 2015 00:00:00 GMT

A Geographic Targeting Order (GTO) is an order issued by the U.S. Treasury, generally via the Financial Crimes Enforcement Network (FinCEN), requiring any U.S. domestic financial institution or nonfinancial trade or business that exists within a targeted geographic area to report on cash transactions greater than a specified value. GTOs only last for a limited period of time. Originally, each order lasted 60 days; however, under Section 353 of the USA PATRIOT Act, such orders have been extended up to 180 days. It is also not uncommon to have GTOs renewed, particularly if evidence of money laundering or terrorist financing persists. Although GTOs are not uncommon, they rarely make the news, save for two recent notable orders.

Health Savings Accounts – Not Just for Customers

Sun, 01 Nov 2015 00:00:00 GMT

Financial institutions are always looking for cost savings. Combine that with the recently enacted health care reforms, which could result in health benefits being even more costly for employers, and financial institutions have a great reason to revisit Health Savings Accounts! Health Savings Accounts (HSAs) provide a more cost-effective method for employers to provide health insurance while offering employees a tax-favorable way to fund future medical needs.

Strategic Planning – A New Era!

Sun, 01 Nov 2015 00:00:00 GMT

Strategic planning has never been more critical to the continued success of any financial institution. Recent publications by the various regulatory agencies affirm the need for ongoing, deliberate corporate governance, which includes strategic planning at both the Board and executive levels. Over the past years, we have facilitated innumerable strategy sessions focused on the challenges and opportunities of both organic and non-organic growth, along with the ongoing challenge of attracting and retaining the next generation of internal leaders and of customers as the national demographics change dramatically. More boomers are retiring from the workplace; seeking succession for their businesses and the transfer of wealth in the coming decades is unprecedented. Focused, customized, and high-level strategy discussion is paramount on at least an annual basis, but as importantly, on a monthly or quarterly basis. Implementing and fully executing fluid, strategic solutions is the duty of every board member and every senior executive.

Empirical evidence indicates that most board members and financial institution executives know implicitly that their institutions could be more effective at developing strategy and implementing/executing strategic planning outcomes.

Thriving in the New World: The Importance of Strategic Leadership

Sun, 01 Nov 2015 00:00:00 GMT

“Management is doing things right; leadership is doing the right things.” -Peter F. Drucker

Since the historic economic downturn, core assumptions in the financial services marketplace have come into question and, subsequently, change abounds. Sustainable strategies for long-term profitable growth with leadership that ensures execution remain the key determinants of success . . . along with a little luck, some growth opportunity in the marketplace, and the ability to attract and retain not only internal talent but the next generation of customers.

Master Planning and the Supply Chain in Microsoft Dynamics® AX

Thu, 29 Oct 2015 00:00:00 GMT

Microsoft Dynamics^® AX is a comprehensive enterprise resource planning (ERP) solution designed specifically for mid-market enterprises. It provides you with a solid foundation to collaborate successfully with your customers, partners, employees, and suppliers--all so you can achieve higher results and gain a competitive advantage.

Microsoft Dynamics^® AX supports your entire business with robust, comprehensive functionality spanning manufacturing and distribution, as well as management for your supply chain, projects, customer relationships, and human resource. With help in financial management and business analysis, Microsoft Dynamics^® AX empowers you to grow quickly and run your business the way you want.

Features

Provide operational flexibility enabling you to adapt solutions to suit your individual manufacturing processes
Support connectivity between your departments, across sites, and with your supply chain partners
Provide real-time insight into production schedules, capacity planning, material planning, shop floor activities, production costs
Adopt new sourcing and production strategies to improve performance

Benefits

Optimize your sourcing and production processes
Increase speed and efficiency and boost results
Increase customer satisfaction with connectivity
Monitor performance and cost and implement changes when needed
Manage your manufacturing resources for increased profitability
Secure the freedom to grow into new markets or operate globally

Multistate Payroll Tax Reporting Requirements: Are you prepared for an audit? - Recorded Webinar

Tue, 27 Oct 2015 00:00:00 GMT

Employers face ever-increasing challenges in today’s workplace environment. More employers are:

Drawing their work force from an expanded geographic area.
Creating roles that require employee services in different geographic locations.
Working to create more flexible work arrangements to help retain key employees while meeting business needs.

While these activities are often vital to business survival and growth, they often create both unforeseen complexity and liability in the payroll area. For businesses with operations in multiple states or that employ residents of other states, navigating the applicable payroll tax laws can be a nightmare.

Would you be prepared for an audit?

State and local taxing authorities have become far more sophisticated and aggressive in their efforts to seek out employers that are not in compliance with their jurisdiction’s laws. During this webinar, presenters shared their insights on some of the top things to look out for when paying payroll taxes in multiple states and will provide necessary information about the requirements and regulations to help you maintain compliance. Topics addressed include:

Multistate payroll withholding
Unemployment reporting
Vendor withholding requirements
Local tax issues

Presenters also provided tips in dealing with this complex area and the status of efforts to provide relief for the business community.

This webinar is only available in PDF format.

Telemedicine Services: Understanding Billing, Documentation, and Compliance – Recorded Webinar

Tue, 04 Feb 2014 00:00:00 GMT

This webinar was recorded February 4, 2014.

Health care services have traditionally been conducted face-to-face with exchange of information between provider and patient. Today, advanced technology has ushered in changes to how, when, and where patient care can be delivered, because of the following:

Many patients prefer to communicate with their provider online.
Patient portals allow for immediate access to their medical information.
Providers can collaborate about patients via telemedicine, which has become a cost-effective alternative to face-to-face patient services.

As a result, the opportunity for telemedicine services is growing rapidly—faster than reimbursement is allowing for.

Health care providers and coding professionals must understand the billing, documentation, and compliance requirements for providing and billing telemedicine services. During this webinar, we will offer an overview of telemedicine services, focused on the “basics” for rural providers, including:

Benefits of Developing a Telemedicine Program
Remote patient monitoring for an array of conditions and programs
Medicare Coverage
Coding and Documentation
Billing and Reimbursement
Challenges
Strategies for Success

Protecting Your Identity in the Digital Age

Tue, 04 Feb 2014 00:00:00 GMT

It’s been estimated that every 3.8 seconds someone in the United States has his or her identity stolen. In 2012, 12.6 million consumers in the United States—or more than 1 in every 20 consumers—fell victim to identity fraud. What’s more, one out of every five victims claims his or her identity was being used for up to four years before the crime was discovered.

Today’s rapid technology advancements have enhanced our lives, but such advancements have also exposed our personal information to an increased risk of theft. The threats are compounded given that so many children and older citizens are carrying devices that either contain sensitive information or can be accessed easily. With so much personal data out there and so many clever thieves, is it simply inevitable that each of us could become a victim sooner or later?

Maybe, maybe not. This much is true: Most people do little to protect themselves, which dramatically increases their odds of becoming victims. By using a comprehensive checklist of easy-to-follow guidelines, you can improve your security odds and avoid becoming part of the growing statistics.

The Top 13 HIPAA Deficiencies Discovered in 2013 OCR Audits

Thu, 30 Jan 2014 00:00:00 GMT

If you think HIPAA compliance is old news, think again. The Department of Health and Human Services’ Office for Civil Rights (OCR) piloted its audit program between 2011 and 2012 and found some disturbing weaknesses. OCR announced in September that it’s launching its permanent audit program in 2014.

This time around, health care covered entities won’t be the only ones audited by OCR either. Business associates and their subcontractors who have been entrusted with protected health information (PHI) are also liable for compliance with the new HIPAA Omnibus Rule and, therefore, are subject to being audited.

In light of this news, health care organizations should evaluate their organization’s compliance with HIPAA by completing an annual risk assessment, updating their policies and procedures, and educating their work force, as well as revisiting their existing business associate agreements.

Download the article below to read more.

Understanding the Impact of the 2014 Medicare Payment Changes – Recorded Webinar

Wed, 29 Jan 2014 00:00:00 GMT

This webinar was recorded January 29, 2014.

On August 2, 2013, CMS issued the final 2014 Inpatient Prospective Payment System (IP PPS) rule, which updates payment rates for approximately 3,400 acute care hospitals and 440 long-term care acute hospitals in the United States. On November 27, CMS issued hospital outpatient department and ambulatory surgical center policy and payment changes (OPPS). And on December 10, the final 2014 Medicare Physician Fee Schedule rule was published. Let Wipfli help you make sense of all these regulations.

Among other important payment and regulatory policy updates, this webinar will provide you with the following:

Overview of Medicare’s final rules and changes for hospitals, rural health providers, and physicians
Services most affected by the 2014 changes
Revisions to key incentive programs
Significant coding and billing changes such as the current five levels of hospital clinic visit (facility) codes being replaced with a single code describing all outpatient clinic visits.
Discussion on direct supervision rules and therapy cap application to CAHs
New requirements for coverage of Part A inpatient hospital claims (i.e., “two-midnight” rule) formalizing requirements for physician orders and certifications and expanded guidelines to justify medical necessity of an I/P
Implementation of the Disproportionate Share Hospital (DSH) calculation
And finally, if applicable, the latest updates on any congressional fixes to the Medicare fee schedule and regulatory extensions that have lapsed (i.e., low-volume adjustments, MDH, etc.)

Building a Successful Business Intelligence Strategy - Recorded Webinar

Tue, 28 Jan 2014 00:00:00 GMT

Manufacturing Business Intelligence: Discovery at Your Fingertips

What is business intelligence all about? Discovery! Discovering that what you thought was true about your business isn’t necessarily so and, on the flip side, discovering that what you thought was not true about your business really is true. The true power of business intelligence comes from combining data from multiple sources and connecting the data in new ways not previously possible, which creates new insights, new thoughts, and new questions.

Your business intelligence platform must meet two foundational concepts: (1) it must match how people think; and (2) it must have a clearly defined purpose. Thoughtful consideration of both of these dimensions is the first step to a successful business intelligence program.

How People Think: The thought process people engage in when consuming, interpreting, and acting on data, dashboards, and information.

Clearly Defined Purpose: A defined and agreed-upon purpose for the business intelligence platform drives how the data and information will be obtained, presented, and used for making decisions and, most importantly, taking ACTION.

Join us for a discussion on business intelligence and demonstration of a real-world dashboard application used to make strategic, operational, and tactical discoveries. We will begin with an introduction of our best practices framework for building your business intelligence strategy, followed by a walk-through of a real-world business intelligence solution.

Learning Objectives

Understand the foundational concepts of a successful business intelligence program.
Review of the best practices framework for building your program.
Role play walk-through of an executive dashboard.

Insurance Options for Managing Fraud Risk

Wed, 15 Jan 2014 00:00:00 GMT

This webinar was recorded January 15, 2014.

Fraudsters don’t invest their ill-gotten gains. If you don’t have insurance you likely won’t get any recovery from a fraudster. The ways in which your organization meets its objectives have grown dramatically, leading to a growth in the risks to the organization. While insurance options exist to mitigate these increased risks, the variety of insurance options and subtle differences can make choosing appropriate coverage a challenge for any organization. We’ll discuss the variety of insurance coverage, and some frequently overlooked options, which can significantly increase the likelihood of recovery from a wrongdoer’s action.

Learning Objectives:

1. What types of insurance coverage is available to mitigate various fraud risks.

2. Special considerations and coverage options that apply to fraud oriented coverage.

3. How does insurance fit in to your risk management philosophy?

Health Care Mergers and Acquisitions: How Transactions Involving Not-for-Profits Are Different

Wed, 15 Jan 2014 00:00:00 GMT

Transactions between health care organizations come in all shapes and sizes. When transactions involve a not-for-profit (NFP) organization as either the buyer or seller, which comprised the majority of health care merger activity in 2012, there are unique valuation differences that must be taken into consideration.

Transactions involving NFP organizations are different from for-profit entities because NFP entities don’t have shareholders or individuals benefiting from the proceeds of a sale. When an NFP entity sells to another NFP entity, how the price is negotiated and where the proceeds (if any) go is quite different. When an NFP is involved in either side of the transaction, there are different considerations and legal requirements that must be met. This article examines the valuation considerations of the three potential transactions.

Interest Rate Risk Update

Mon, 13 Jan 2014 00:00:00 GMT

On December 19, the Office of the Comptroller of the Currency (OCC) issued its Semiannual Risk Perspective, and the FDIC issued Winter 2013 Supervisory Insights. While your bank may or may not be regulated by either the OCC or the FDIC, there are several key observations that you should be cognizant of regarding interest rate risk.

Multistate Tax Update Plus Practical Tips to Minimize Exposure and Be Compliant - Recorded Webinar

Tue, 07 Jan 2014 00:00:00 GMT

This webinar was recorded January 7, 2014.

States and local jurisdictions are desperately searching for revenue and have added more resources to aggressively identify businesses that are not filing the necessary tax returns or underpaying their taxes. Construction and real estate entities are doing business in more states and are often targeted by state and local government agencies for noncompliance with tax return filings because of licensing or registration issues with different agencies.

When overlooked, missed state tax return filings can cost you the profit margin on your out-of-state contract—and then some. A seemingly small amount of tax due along with interest and negligence penalties can quickly grow over time and turn into a bigger headache for the company. In general the statute of limitations does not begin to toll until actual returns are filed with a state taxing agency. States can go back six, eight, or more periods when the proper tax returns have not been filed. Are you compliant when it comes to filing property tax, withholding tax, sales and use tax, and income and franchise tax returns in the states you conduct business in? Are your customer contracts worded in a manner that would allow you to recover unpaid taxes for prior years?

During this informative webinar, presenters not only covered multistate tax return filing requirements, but also suggested solutions on becoming compliant with state tax issues.

Competing For……and Winning….the Next Generation of Insurance Leaders

Tue, 07 Jan 2014 00:00:00 GMT

With Boomers retiring in record numbers, the need to be proactive in attracting young talent is more imperative than ever before. However, many companies are not doing enough—if anything—to encourage the next generation of insurance leaders. In fact, when it comes to developing strategies to recruit the best and brightest, the insurance industry continues to lag behind other industries.

1099 Information Reporting Guide for Small Businesses for 2013

Fri, 03 Jan 2014 00:00:00 GMT

2013 Information Reporting Guidelines. Unless otherwise noted, most information forms are due to the recipient by January 31, 2014, and to the Internal Revenue Service by February 28, 2014 (March 31, 2014, if filing electronically – see Section II – ELECTRONIC FILING REQUIREMENTS for who must file electronically).

Detailed instructions for each reporting form can be obtained at the IRS website www.irs.gov or by contacting us.

More Regulatory Guidance for Troubled Debt Restructurings

Wed, 01 Jan 2014 00:00:00 GMT

In October 2013, financial institution regulatory agencies issued Interagency Supervisory Guidance Addressing Certain Issues Related to Troubled Debt Restructurings. In this release, the agencies reiterated that modifications of problem loans are often in the best interest of both the institution and the borrower and can lead to improved loan performance and reduced credit risk. This release does not contain any new guidance, but it addresses certain problem areas the agencies are uncovering in some financial institutions. To read the interagency guidance, visit http://www.federalreserve.gov/bankinforeg/srletters/sr1317a1.pdf. Following are some of the highlights from this guidance.

Bank Secrecy Act – The Bottom Line

Wed, 01 Jan 2014 00:00:00 GMT

Regulators and auditors are finding common themes in Bank Secrecy Act/Anti-Money Laundering (BSA/AML) examinations and audits. The focus of this article is to share some of those with you so they can be addressed prior to your next examination or internal audit.

How Much Counseling Does One Borrower Need?

Wed, 01 Jan 2014 00:00:00 GMT

Currently there are only two Home Ownership Counseling Notices required. They are required by the Housing and Urban Development Act of 1968 (12 U.S.C 1701x) (the “Act”), but come January 10, 2014, three new counseling disclosures must be added to compliance procedures for financial institutions.

How to Create and Protect Your Passwords

Wed, 01 Jan 2014 00:00:00 GMT

Top Ten New Year’s Resolutions for Financial Institutions in 2014

Wed, 01 Jan 2014 00:00:00 GMT

As we look back at 2013, I remind myself it is always easier to play Monday morning quarterback and determine what I should have said or done to help our clients, prospects, and associates navigate the financial institution world we live in. I am also one to NOT make New Year’s resolutions because inevitably I set the bar too high and by the fifteenth bowl game, I have already broken most of them.

It’s Time to Start “Playing Offense”

Wed, 01 Jan 2014 00:00:00 GMT

It’s been a wild ride the last several years for community financial institutions. The economy has been a roller coaster, the regulatory environment has presented numerous challenges, and many institutions have had to overcome credit, capital, and succession planning dilemmas.

What Does Basel III Mean to Your Deferred Tax Asset?

Wed, 01 Jan 2014 00:00:00 GMT

You might be wondering why a tax alert is discussing the new Basel III regulatory capital regulation. The reason is the regulation determines how much of your deferred tax asset can be used in your regulatory capital amount. We all know that the amount of capital you have is extremely important to the overall strategy of your bank.

Liquidity Rule Requirements for Credit Unions – Effective March 31, 2014

Wed, 01 Jan 2014 00:00:00 GMT

On October 24, 2013, the National Credit Union Administration finalized a new rule 12 CFR § 741.12, Liquidity and Contingency Funding Plans (the “liquidity rule”). The new liquidity rule, which is based on a three-tiered framework, requires all federally insured credit unions to formalize their liquidity and contingency funding plans by March 31, 2014. The new liquidity rule does not apply to corporate credit unions.

Health Care Trends and Issues for 2014

Tue, 31 Dec 2013 00:00:00 GMT

As we stated in last year’s Trends article, we believe that for the next several years the overarching trend and strategy for health care delivery systems around the country will continue to be clinical integration across the care continuum as efforts and incentives to achieve the Triple Aim—bending the cost curve, delivering an exceptional patient experience, and improving population health—will accelerate. While the pace will vary from market to market, particularly between rural and urban areas, common challenges will be faced, and tactics will be pursued. With that as a backdrop, download the article below to read what we believe to be key observations and trends for 2014.

Planning Now to Manage Your Tax Liabilities for 2013 and Beyond - Recorded Webinar

Tue, 17 Dec 2013 00:00:00 GMT

Unlike year-end 2012, planning for year-end 2013 is not burdened by the uncertainties over the extension of the Bush tax cuts or the political drama that took place.

Nevertheless, the 2013 tax year will be tough on many taxpayers because of the recent tax law changes that will impact your planning strategies as well as the lingering ambiguities related to health care reform.

Join us for this information-packed webinar for a summary of what happened this year and the key tax provisions businesses must tackle. You’ll gain a better understanding of how new tax rates, deductions, capitalization rules, and tax credits figure into your tax bill for 2013 and 2014. Specifically:

Learn how the 3.8% net investment income tax impacts your business return.
Learn highlights from the 300+ pages of final repair and maintenance regulations (and examples) that impact your decisions to expense or capitalize an item.
Learn about new incentives including state deductions and tax credits available to help manage your tax liabilities and improve your cash flow.

Abila Nonprofit Solutions Newsletter – 4th Quarter 2013

Thu, 12 Dec 2013 10:00:00 GMT

This edition of the quarterly newsletter features articles including:

Introducing New Features in 2014
Common Year End Questions Answered
The MIP Brand Name is Back
Forward Together 2013 Conference Recap

Understanding How the New Repair Regulations Will Impact Your Business - Recorded Webinar

Thu, 12 Dec 2013 00:00:00 GMT

In September 2013, the Internal Revenue Service issued final regulations that will dramatically change how you must deal with repairs and maintenance expenditures. The new regulations contain many rules that go way beyond repairs. They affect all taxpayers that acquire, produce, or improve tangible property. Most importantly, the new regulations contain numerous provisions that significantly change the interpretation of previous law and undoubtedly differ (often significantly) from current methods you use. Because the new regulations are effective January 1, 2014, taxpayers need to quickly determine how to implement the new rules.

During this 60-minute webinar, we will:

Provide an overview of the new rules with an emphasis on those aspects of the regulations that affect middle-market and small businesses
Explain the significance of a “unit of property” and “building systems” and how those concepts apply to buildings and other large assets
Explain how the new disposition rules operate to allow current deductions for retired structural components of a building
Explain the application of de minimis expensing provisions to small and middle-market businesses, including what you must do now
Illustrate a limited planning opportunity that may provide benefits for 2012 and 2013
Provide practical strategies for implementation

Positioning Your Organization to be a Vendor/Partner

Thu, 05 Dec 2013 00:00:00 GMT

When it comes to health care reform, providers have an increasingly clearer sense of what’s coming. Changes are already underway, and payers are driving much of the overall transformation. Now health care groups have to develop the right strategies to compete in this new era, and even small to midsized organizations would be wise to align their initiatives and endeavors with payers.

In a dynamically changing market where value and quality will carry even greater importance, provider accountability is critical and health care organizations in every size market—urban, suburban, or rural—must be ahead of the game. Strategically, this means aligning efforts based on what the market values. Generally, that often translates into these three objectives:

Improving health, quality, and outcomes across a designated population
Reducing costs
Delivering an exceptional patient experience

But what are the best ways to pursue these objectives when there are seemingly endless strategies and tactics? Where should your organization start? Download the article below to read more.

Managing Construction and Capital Projects – Are You Handing Your Contractor a Blank Check? - Recorded Webinar

Wed, 04 Dec 2013 00:00:00 GMT

This webinar was recorded December 4, 2013.

Most managers understand the importance of developing and using strong internal controls to manage the day-to-day activities of their business. They rely on the internal controls to protect company assets from unscrupulous employees and vendors. Yet when it comes to spending millions on construction or other significant capital projects, too many organizations attempt to manage the financial risk with the same controls they use in their day-to-day business. This webinar will help you to reduce the financial risks of major capital projects by:

Identifying the risks and implementing controls to mitigate them for each of the three phases of construction: preconstruction, construction, and project closeout.
Explaining the methods contractors use to earn gross margins of eight percent or more when the contract limits the construction fee to two and one-half percent.
Using examples of overcharges commonly found in each component of construction: labor, materials, subcontractor costs, contractors’ equipment, insurance, and change orders.

Transitioning to ICD-10: Are You Ready? – Recorded Webinar

Tue, 03 Dec 2013 00:00:00 GMT

This webinar was recorded December 3, 2013.

It may seem like October 1, 2014 is far away, but the magnitude of work that needs to be completed, including advanced planning and education, for a smooth transition to ICD-10 should not be put off. Do you know where your health care organization stands on the CMS-recommended implementation timeline? Do you know where to get the right tools and implementation guides to continue tracking your progress or to even get started? This webinar will assist health care organizations of all sizes determine where they are on the recommended timeline in order to meet the fast-approaching deadline for transition to ICD-10. It’s not too late to get on track to meet the implementation deadline if you start soon.

During this webinar, we will present a basic overview of ICD-10 and the Six Phases of the Implementation Checklist, which include:

Planning
Communication and Awareness
Assessment
Operational Implementation
Testing
Transition

This webinar will provide you with the right tools and information to better position your organization to achieve its goal of transitioning to ICD-10 by October 1, 2014.

Fiduciary Review and Year-End Planning for 401(k) Retirement Plans - Recorded Webinar

Wed, 30 Nov 2011 00:00:00 GMT

The end of the year is upon us, and with that come planning opportunities for employer-provided 401(k) retirement plans. Take this opportunity to learn about important year-end planning tools that can be put in place to help highly compensated employees defer maximum dollars to their retirement plans. Next year will also bring about much-needed change to the world of 401(k)s, with increased fee disclosure rules beginning January 1, 2012. We also take time to review the investment markets and talk about how plan fiduciaries can help ensure employees are given ample resources and education to make prudent investment decisions.

Learning objectives include:

Plan Fees: Who Pays for What? - Review new disclosure requirements to participants, along with a discussion about investment advisory fee models (bundled vs. unbundled)
Year-end Planning Opportunities - Understand what options are available to highly compensated employees (HCEs)
Retirement Plan Investment Approach - Discuss appropriate investment options for a 401(k) retirement plan and review fiduciary requirements of 401(k) plan sponsors
Employee Education - Ensure employees receive proper help and resources to make appropriate investment decisions

This webinar is designed for business owners and human resource and accounting personnel with responsibility for oversight of a qualified retirement plan.

Untying the Knot: The Taxing Consequences of Marital Dissolution, Part 2

Wed, 23 Nov 2011 00:00:00 GMT

Divorce changes people, especially their financial and tax statuses. Couples and their attorneys must be aware of the many “taxing consequences” of marital dissolution in order to make prudent decisions and plan accordingly.

Several examples of financial factors, asset distribution, and their tax consequences were explored in part one of this series. But untying the marital knot is often a complicated process. Here are additional insights to help you better prepare your clients for fair negotiations.

Metrics and Measurements: Converting Data into Information to Drive Focus

Mon, 21 Nov 2011 00:00:00 GMT

Dwight Cody presented "Metrics & Measurements: Converting Data into Information to Drive Focus" at the 4th Annual MindSurf conference in Bloomington, Minnesota on October 18, 2011. Below are the materials from his well-attended session, which focused on the what's and how's of putting metrics and measures in place to drive desired behavior and actions for results.

See below to download a PDF copy of his slides, as well as the short video clip he used during the presentation.

Removing the Cloud From Cloud Computing - Recorded Webinar

Thu, 17 Nov 2011 00:00:00 GMT

Chances are good that you have seen or heard about “the cloud” or “cloud computing.” It is everywhere. Pick up any business publication or visit almost any IT website or blog, and you’ll be sure to see talk about cloud computing. And while cloud computing is definitely all the rage, it is no passing fad.

Yet what exactly is cloud computing, and what does this mean from a business owner’s perspective? Beyond the technical talk, this Web presentation focuses on:

The basics of cloud computing
Why this topic is important for real estate and contractor organizations
The benefits and challenges of cloud computing
How the cost of cloud computing compares with the traditional approach for buying hardware and software
The security implications that you should be aware of

This webinar is intended for construction and real estate organization owners, CEO’s, IT leaders, executives, and others in your organization looking to gain valuable business insights into cloud computing.

The Forecast Calls for Cloud Computing – Part One

Thu, 17 Nov 2011 00:00:00 GMT

The newest buzzword is here to stay. What you should know before taking full advantage of the latest business solution.

Keeping up with capacity and capabilities is a constant IT balancing act, one that comes with investments in personnel, infrastructure, and software licensing. Cloud computing has quickly become the solution-of-the-moment, offering cost reductions, flexibility, and efficiencies. Organizations should consider using cloud computing, but they must also understand its usefulness and be aware of potential pitfalls. This two-part series explores the benefits and risks that come with cloud computing.

Delivering the Experience Patients Want to Buy: The Value of an Organizational Compact Within Health Care

Thu, 10 Nov 2011 00:00:00 GMT

The Patient Protection Affordability Care Act represents substantial changes for the delivery of health care. In response, health care organizations must focus significant effort on enhancing the patient experience. To do so requires social changes within health care organizations and a need to forge new relationships with physicians. This newsletter suggests using social mechanisms for reengaging physicians to meet post-reform health care expectations and help reestablish their roles in the journey toward ultimate patient satisfaction.

OCC Issues Guidance Telling Banks To Keep Their Foreclosure House Clean

Tue, 01 Nov 2011 00:00:00 GMT

On June 30, 2011, the Office of the Comptroller of the Currency (OCC) issued Supervisory Guidance 2011-29 that outlines the OCC’s expectations for national banks in their handling of the foreclosure process. The guidance comes two months after the release in April 2011 of the Interagency Review of Foreclosure Policies and Practices issued by the Federal Reserve, the OCC, and the Office of Thrift Supervision that details the findings of a review of 14 of the largest mortgage servicers.

Social Media - Does It Scare You?

Tue, 01 Nov 2011 00:00:00 GMT

If you believe that you can avoid social media—you can’t. Your financial institution can choose not to participate, but that doesn’t mean people are not talking about your financial institution or the services you provide. Information about your organization is being spread instantaneously throughout the world. These comments, whether intentional or inadvertent, can have a significant impact. The most serious risk is avoiding it altogether.

Unfair, Deceptive, or Abusive Acts or Practices (UDAAP)

Tue, 01 Nov 2011 00:00:00 GMT

Generally, financial institutions focus on banking laws and rules; however, regulators lately have been applying a Federal Trade Commission Rule as a basis for criticism of perceived or real unfair or deceptive acts or practices. 15 USC 45(a)(1) states, “Unfair methods of competition in or affecting commerce, and unfair or deceptive acts or practices in or affecting commerce, are hereby declared unlawful.” For purposes of the rule, the term “unfair or deceptive acts or practices” includes such acts or practices that
cause or are likely to cause reasonably foreseeable financial injury.

A Layered Security Approach for Internet Banking Risk Management

Tue, 01 Nov 2011 00:00:00 GMT

The Federal Financial Institutions Examination Council (FFIEC)released a supplement to its “Authentication in an Internet Banking Environment” guidance on June 28, 2011. This supplemental guidance reinforces the previous guidance originally issued in 2001that was updated in 2005. The latest release has been triggered by the need for additional layers of security because of an increasingly hostile online banking environment.

Public Company Q&A: Given the volatility of today's stock market, what should a private company be considering if an IPO is the preferred liquidity event?

Mon, 31 Oct 2011 00:00:00 GMT

Given the volatility of today’s stock market, what should a private company be considering if an IPO is the preferred liquidity event?

During the dot-com bubble years of the late 1990s, management of many private companies used the strength of the stock market as a successful liquidity event, one that also made their executives very wealthy, on paper. The euphoria of a successful public offering quickly disappeared for those companies that were not well positioned to be public when the tech bubble burst in the early 2000s.

Is Your Back Office Working For You or Against You?

Thu, 13 Oct 2011 00:00:00 GMT

There are many tasks required to run a business beyond the provision of day-to-day services to residents. “Back office” tasks do not bring in income and can significantly increase or decrease the costs to run the business. The challenge is to find the most cost- and time-efficient means to accomplish these tasks so that the business runs smoothly and profits are maximized.

Estate Planning: Opportunities Are Right for Leveraged Gifting

Tue, 11 Oct 2011 00:00:00 GMT

Transferring assets when values are low relative to other times and circumstances can save substantial gift and estate tax dollars for families. This is especially true as values rebound or increase significantly following the transfer. Seems pretty simple, right? Unfortunately, not so much so when it comes to convincing leery clients of that, especially in volatile market times like we’ve been experiencing.

Economic turmoil has created tremendous financial volatility and lots of fiscal challenges for business owners. But the downturn has an upside. A “perfect storm” consisting of a floundering economy, market volatility, and reduced values makes now the ideal time for many privately held companies, in particular, to transfer assets. Gifting when values are low can be the silver lining in this perfect storm’s cloud.

Compliance Insight: BSA Form Revisions

Mon, 10 Oct 2011 00:00:00 GMT

BSA forms have been revised to reflect updated regulatory citations. The revised forms must be used after September 30, 2011. The Currency Transaction Report (CTR) and Suspicious Activity Report (SAR) that should be used after September 30, 2011, are dated March 2011. The date on the Designation of Exempt Person (DOEP) form was not updated, and the revised version is still dated August 2005. However, the instructions to the DOEP have been updated with Regulation X citations.

The Wisconsin Budget Bill—How will it affect Wisconsin businesses? - Recorded Webinar

Wed, 28 Sep 2011 00:00:00 GMT

In June, Governor Scott Walker signed Wisconsin’s 2011-2013 budget bill (Budget Bill) into law. The Budget Bill implements significant changes to corporate and individual income taxes, as well as changes to sales and use tax.

For Wisconsin manufacturers, it is important to understand the key provisions in the Budget Bill, the opportunities the Budget Bill provides, and the pitfalls to avoid as you prepare your Wisconsin tax return.

This webinar is intended for any individual involved with the preparation of your company’s Wisconsin income tax returns. It is also intended for individuals interested in learning how the Budget Bill will impact your Wisconsin tax liability, including accounting professionals, controllers, CFOs, CEOs, and business owners.

The Importance of Updating Beneficiary Designations

Wed, 28 Sep 2011 00:00:00 GMT

In the U.S. Supreme Court decision of Kennedy vs. Dupont on January 26, 2009, it reminds us that sometimes “whenever” never gets here, and the results can sometimes be tragic.

Keys to a Successful Senior Housing Project in Wisconsin - Recorded Webinar

Tue, 20 Sep 2011 00:00:00 GMT

Are You Exposed? Five Key Measures for Reducing SALT Audit Risk

Fri, 16 Sep 2011 00:00:00 GMT

As the current economic climate forces states to be more aggressive in their search for revenue, tax audits are on the rise. Given the complicated nature of state and local income and sales taxes, it’s no surprise many taxpayers live in fear of an audit. Numerous companies have no idea of their exposure until they find themselves sitting across the table from an auditor discussing an assessment.

If you’ve ever worried that your company might one day face a big assessment, you should know there are things you can do right now to evaluate and reduce your company’s exposure in the event of a sales and use tax audit.

Home Health and Hospice: Can You Afford to Do It? Can You Afford Not to? - Recorded Webinar

Wed, 14 Sep 2011 00:00:00 GMT

Are you considering taking a New Direction into Home Health and Hospice? Home Health and Hospice programming may be options to consider, as providers contemplate new directions for their organizations in 2011 and beyond! This presentation examined the regulatory, clinical, market, and financial information needed to consider when making this type of programming decision.

During this webinar recorded September 8, 2011, the speakers provided the participants the opportunity to:

Examine the current regulatory requirements for Home Health and Hospice Agencies.
Discuss the initial licensure process for Home Health and Hospice Agencies.
Identify resources needed to effectively launch a Home Health or Hospice Agency.
Explore the Quality Assurance processes needed to ensure ongoing compliance for Home Health and Hospice programs.
Examine necessary strategic planning steps when considering programming expansion.

Are Fringe Benefits Taxable?

Thu, 01 Sep 2011 00:00:00 GMT

Fringe benefits are an essential tool for employers. They comprise a significant portion of an employee’s total compensation package and are instrumental for attracting and retaining valuable employees. Given their importance, it is necessary for both employers and employees to understand the related tax implications. Most fringe benefits are considered taxable compensation by the IRS and must be included in the employee’s taxable wages, unless it is specifically excluded; however, nowhere in the Internal Revenue Code or accompanying regulations is the term fringe benefit concisely defined.

Disaster Recovery/Business Continuity Plan Testing

Thu, 01 Sep 2011 00:00:00 GMT

Are we prepared for a disruption to our operations? Do we understand our critical operational functions? Have we identified all the interdependencies for our critical operations? Will our contingency plan work? Do our employees understand the plans, their responsibilities, and will they be able to execute them? These are the types of questions that worry executive management and those responsible for IT.

Garnishment of Accounts Containing Federal Benefit Payments

Thu, 01 Sep 2011 00:00:00 GMT

With all the focus on the major regulatory changes (Regulation Z, RESPA, appraisals, etc.), a rule affecting the way you process garnishments slipped through the cracks and became effective May 1, 2011. We wanted to provide a brief synopsis of this rule.

Sage Nonprofit Solutions Newsletter - 3rd Quarter 2011

Thu, 01 Sep 2011 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

Human Resource Management
I'm Holding You Accountable
Sage Disaster Recovery Program for Nonprofits

Understanding and Mitigating Technology Risks in Business Today - Recorded Webinar

Thu, 01 Sep 2011 00:00:00 GMT

Understanding the risk related to technology is not often an easy task, nor an enjoyable one, given the “black box” nature of information systems to most organizational leaders. This webinar is designed to provide you with an understanding of the common risks associated with business technology today.

Purchase Price Analysis: A Vital Step to Tax Advantages and Better Cash Flow for Real Estate Transactions

Thu, 01 Sep 2011 00:00:00 GMT

By conducting a thorough purchase price analysis, new building owners can properly classify assets for tax purposes, benefiting them with deferred taxes and improved cash flow. Given all the variables that accompany the purchase of an existing facility, undergoing an analysis is critical. This paper provides key insights that can help ensure a purchase price analysis delivers value and withstands IRS scrutiny.

Untying the Knot: The Taxing Consequences of Marital Dissolution, Part 1

Fri, 26 Aug 2011 00:00:00 GMT

For couples at the crossroads of divorce, financial matters become a large and often dominating part of negotiations. Despite the intense focus on money matters, a few significant financial issues can easily get overlooked.

One such matter is the tax implications that follow divorce. Without proper planning, those consequences may cause more anguish than the divorce itself.

Couples and their attorneys should fully understand the “taxing consequences” that follow marital dissolution. It’s an important consideration when dividing assets and ensuring couples will have enough cash to cover those consequences.

Here are some examples of common assets that are often divided between spouses and other financial factors typically addressed during divorce, along with important tax consequences inherent in each. Also included are insightful tips to help you better prepare your clients for fair negotiations.

Summary of Differences Between S Corporations, C Corporations, Partnerships, and Limited Liability Companies (LLCs)

Thu, 11 Aug 2011 00:00:00 GMT

One of the most important and often overlooked decisions business owners make is determining under what structure their businesses will operate. This chart summarizes the differences between S corporations, C corporations, partnerships, and limited liability companies (LLCs).

S vs. C: Forming a Corporation With Tax Advantage in Mind

Thu, 11 Aug 2011 00:00:00 GMT

One of the most important and often overlooked decisions business owners make is determining under what structure their businesses will operate. Unfortunately, most small business owners do not understand the significance of this decision and default to using a regular C corporation. However, in nearly all cases, the business owner will generate more tax benefits by electing to operate as an S corporation, rather than as a C corporation.

Enhance Business Performance in Critical Access Hospitals - Recorded Webinar

Thu, 11 Aug 2011 00:00:00 GMT

Today’s health care industry is rapidly evolving with new health care reform service models, reduced reimbursements, and a competitive environment for critical access hospitals. When opportunities arise, organizations must be prepared to analyze the financial impact of business alternatives and make decisions regarding service opportunities with care partners. More importantly, organizations need to understand operational costs and identify opportunities to reduce the cost of care delivery to be effective.

Enhance Operating Effectiveness With Accurate Information

Information is the key to success, helping you understand both organizational performance and areas for improvement. What areas of care delivery generate the greatest costs? Which generate the greatest revenue? The ability to look across labor, facilities, and supply costs and contrast these to the care acuity of service areas is integral to your bottom line. Health care organizations have a high percentage of hourly employees; therefore, automating time capture and reducing errors associated with manual entry are necessities. The abilities to assign staff to multiple care areas, apply overtime rules, and effectively manage payroll are required to manage costs.

Wipfli has responded to these growing information needs in health care. Leveraging our Microsoft partnership, we are providing organizations with an integrated Microsoft Dynamics^® GP solution. This solution enables you to manage financial, payroll, human resources, and supplies information needs across the enterprise. Your customized solution is implemented with the industry expertise of Wipfli’s health care technology resources.

Optimize Your Organization

Join us for a webinar that will help you discover how you can move from silos of data in various spreadsheets, databases, and random e-mail to having integrated and accessible information across your entire organization. Microsoft Dynamics GP reporting capabilities make information easily accessible and organized to support business decisions based on real-time data. You can expect results such as reductions in errors and improved performance monitoring.

Learning Objectives:

Review industry trends and challenges driving the need for improved financial reporting.
Learn how you can streamline business processes and leverage workflow to better manage operations.
See firsthand how the Microsoft Dynamics GP solution from Wipfli can improve productivity by delivering reliable, real-time data.

Is There a Merger or Acquisition in Your Future? Understand the Effects of SFAS 164 on Accounting

Thu, 11 Aug 2011 00:00:00 GMT

Mergers, acquisitions, and affiliation activities of not-for-profit (NFP) health care entities has increased significantly in recent years because of the current health care environment and the need for entities to work together.

Standards governing how NFP entities account for mergers and acquisitions have changed with SFAS 164 (codified as ASC 958-805 Not-for-Profit Entities: Mergers and Acquisitions) which became effective for years ending after December 15, 2009. Under the new regulations, if one NFP acquires or essentially obtains control over a target NFP, that target NFP’s assets and liabilities would be recorded on the acquirer’s balance sheet at “fair value.” This is quite different from the previous rules whereby the assets and liabilities would have been recorded at their carrying (book) value.

Community Health Needs Assessment: When to Seek Outside Help

Thu, 04 Aug 2011 00:00:00 GMT

The Patient Protection and Affordable Care Act of 2010 requires all tax-exempt hospitals to conduct and submit a Community Health Needs Assessment (CHNA) to the IRS starting in 2012. The law requires hospitals to also develop implementation plans to address identified needs and report on progress. This article explores some of the potential pitfalls of a homegrown assessment along with the benefits of seeking outside assistance for some or all aspects of the CHNA.

Multifaceted Benchmarking: Establishing Market Position and Strategies

Mon, 26 Oct 2015 00:00:00 GMT

As the population over the age of 65 becomes an increasingly larger portion of the U.S. population and health care reform is fully implemented, impacting the senior living industry, competition will heat up to meet the growing demand for senior housing and services and the needs of the local health care systems. Consider it a two front approach to the market. You will need to be attractive to your future customers, and you will need to be just as attractive to your referral sources, the health systems in your area. Such competition and environmental changes can breed innovation by accelerating your facility’s strategies for growth, capital improvements, and systems enhancement and integration.

In order to compete effectively for market share, senior living facilities must understand their market positions in comparison to their competitors. Benchmarking against others is essential to identifying opportunities and improvements. But what factors should you benchmark in order to establish, grow, and sustain your market position?

One of the best ways is by understanding consumers’ expectations and changing medical needs, understanding the local health system’s need for benchmark data, exploring trends in senior living facility design and services, and then assessing your own systems and processes and facilities and amenities accordingly.

Continue reading to learn more about market-related benchmarks, quality benchmarks, and strategies to increase your overall profitability.

Read the first article in this series: Multifaceted Benchmarking to Achieve Effective Financial Performance.

Read the second article in this series: Multifaceted Benchmarking: Clinical Quality and Integration

Read the third article in this series: Workplace Culture Is Based on Employee Engagement and Retention

Health Care M&A Update: Third Quarter 2015

Mon, 26 Oct 2015 00:00:00 GMT

Middle-market deal volume rose sharply in the third quarter of 2015 to 107 transactions from 86 during the second quarter. Median LTM valuation multiples declined sharply to 7.6x, trailing EBITDA. Although expressed demand remains solid, an increase in the supply of businesses exploring a sale, combined with poor equity market performance and increased volatility, contributed to a reduction of transaction valuations. Consolidation among insurance will continue to propel transaction activity across the sector.

Continue reading to learn more about M&A activities among health care providers.

Small Health Care Providers’ Responsibility to Sustain an Information Security Program: Who’s in Charge?

Fri, 23 Oct 2015 00:00:00 GMT

IT security is a hefty undertaking for large health care organizations and an even bigger challenge for smaller health care providers. But what about building a strong, comprehensive organizational information security/risk management program to keep information private, readily available to those who need it, and safe from tampering? That’s an even greater feat, one that comes with even broader responsibilities which directly impact the business.

Too many health care organizations hold a narrow view of information security. Perspectives range from just physical/facilities security (“guns and guards”) to purely technology (it’s IT’s responsibility). Yet the responsibility isn’t about alarming doors, managing firewalls, or resetting passwords. It’s much more comprehensive. And it isn’t about handing off the duties to an IT person as another responsibility. It’s much more holistic.

Working With an Accounting Expert in Personal Injury Cases, Part 2: At What Cost Care?

Fri, 23 Oct 2015 00:00:00 GMT

This article is a continuation of our informational series devoted to working with accounting experts in personal injury cases. The first article (published in July 2015) assessed the role of an accounting expert in calculating lost earnings. We will continue our examination of personal injury cases with a look at life care plans and calculations of present value of medical costs.

Penny Wise and Pound Foolish? The True Costs of Inadequate Gift Return Disclosure.

Fri, 23 Oct 2015 00:00:00 GMT

Sooner or later, those of us who serve clients in gift and estate planning and administration are asked, “Why should I spend all that money on appraisals, valuations, and the like? It’s clear to anyone who looks at my estate/property/gift what it’s worth!”

Sometimes the standard answer is, “Because it’s what the rules require,” or “Because that’s what our firm requires in order to sign your return.” These answers ring a bit hollow in the ears of a fee-conscious client.

Now you can add another response: Because failure to adequately disclose gifts means the IRS is allowed to assess a gift tax at any time, indefinitely!

A recently released IRS field attorney legal advice memorandum (Number 20152201F May 29, 2015) provides a cautionary tale to clients. It’s proof that the dark side of failing to comply with the gift tax return disclosure regulations means that the statute of limitations for a gift tax assessment is a bell that never tolls.

Has Cybersecurity Moved up the Priority List in Your Small Health Care Organization? Here’s Why It Should.

Wed, 21 Oct 2015 00:00:00 GMT

This year’s survey from the Healthcare Information and Management Systems Society (HIMSS) offers more sobering news on privacy threats. In it, two-thirds of health care organizations said their organizations had recently experienced a “significant security incident.” The impacts of those incidents were as follows:

62% resulted in a limited disruption of IT systems with limited impact on clinical care and IT operations.
21% resulted in a loss of patient, financial, or organizational data.
8% experienced a significant disruption of IT systems, while another 8% had damaged IT systems.

Despite the fact that respondents reported using, on average, 11 different technologies to secure their environments, the majority felt only an average level of confidence in their ability to protect their IT infrastructure and data!

It’s Not About First Product/First State, It’s About Last Product/Last State

Wed, 21 Oct 2015 00:00:00 GMT

An insurance-focused discussion about getting the last product, last state implemented in your new Policy Admin System (PAS) to actually achieve the business case.

Implementing a new PAS is a very big deal; it can be an exhaustive and lengthy process (oftentimes years) with significant costs associated with it, both in terms of the implementation itself and of lost opportunity (at least until it is live everywhere). Maybe the biggest challenge is turning off the old system.

In this recorded webinar, we discuss how to mitigate the risks of a PAS switchover, plus:

Steps you can take to get to “last product/last state” sooner and more efficiently
Actions that will improve the entire switchover process
How to minimize the time required to run dual systems
How to avoid costs of retraining and retooling
Don’t miss this chance to do your PAS switchover right: sign up for this webinar today!

Demystifying Out-of-State Sales Tax Registration

Tue, 13 Oct 2015 00:00:00 GMT

When most entities are formed, they register for the various tax registrations (withholding, sales, income, and unemployment) in their home state. Over time, as business expands, they have sales to customers in other states. Usually, there is no formal review of whether or not registration for additional taxes is necessary until there is a resident employee in a new state.

Companies should be reviewing their sales tax filing requirements in other states regularly, even long before they hire their first out-of-state employee. We find that companies may not think this is necessary because of two misunderstandings that occur with regard to filing requirements.

Selling a Business: Have You Proactively Addressed State and Local Tax Issues Before the “For Sale” Sign Goes Up? - Part Two

Tue, 13 Oct 2015 00:00:00 GMT

Most of the time, state and local tax is not at the forefront when a business owner or management team puts a company up for sale. In Part One of this article from July 2015, we focused specifically on addressing sales and use tax issues because these typically draw the most attention when selling or buying a company. In this article, we will address the remaining state and local tax types, including employment tax, property tax, unclaimed property, and state income/franchise tax, and the impact they have on selling or purchasing a business.

Cost Segregation Studies: Understanding the Application of Income Tax Analysis to Property Tax and Sales Tax Reporting

Tue, 13 Oct 2015 00:00:00 GMT

Many companies have cost segregation studies performed when they have new construction projects. These studies are valuable because they segregate costs into shorter depreciable lives to maximize income tax depreciation deductions in the early years.

However, to get the most state-tax-favorable treatment for your construction project, it is important to understand the potential integration between the cost segregation study and sales and property taxes. Understanding your study will ensure that your company will use the information from the study to properly report both sales/use and property taxes. Used properly, the cost segregation study may also provide valuable substantiation for property and sales tax opportunities available to your organization.

Increasing the Return on Investment of Your Construction Project: Ten Questions to Ask Yourself to Help Manage State and Local Tax Issues

Tue, 13 Oct 2015 00:00:00 GMT

Successful construction and remodeling projects involve a significant investment of time and effort to ensure the project goes smoothly. Project champions have responsibilities for design, contractor selection, cost control, financing, and so on. There is no doubt that these and other activities are critical to the long-term success of the project, but have your project champions considered state and local taxes? This month, we share some questions that should be on your project management checklist as you contemplate and begin a significant construction project.

SALT-ED Q&A: Are You a Manufacturer? Attain Your Manufacturing Classification for Tax Savings Benefits

Tue, 13 Oct 2015 00:00:00 GMT

Q: How do I verify or apply for manufacturing status?

A: To claim the Wisconsin Manufacturing and Agricultural Credit, manufacturers must be classified as a manufacturer for property tax purposes. Therefore, it is important to verify that you are classified as a manufacturer in all Wisconsin locations in which qualified production income is generated.

The Need for ‘Organizational’ Information Security

Tue, 06 Oct 2015 00:00:00 GMT

A common problem in health care today is that information security is perceived as only a technology issue. It actually requires the attention of and input from organizational leadership. Why is it, then, that the responsibility for information security management in health care organizations is often consigned to the information technology staff?

Continue reading to learn four supporting justifications for having the CISO manage information security outside of IT.

Should a Financial Institution Be Registered for Sales and Use Tax Purposes? Are You Next on the List for an Audit?

Thu, 01 Oct 2015 00:00:00 GMT

Generally financial institutions are thought of as a service industry. Services are generally not subject to sales taxes in most states. However, recently more financial institutions have had to deal with repossessed assets. While there are no sales tax issues with the repossession of real property, there can be issues with the repossession of personal property.

Workplace Culture Is Based on Employee Engagement and Retention

Tue, 29 Sep 2015 00:00:00 GMT

Staff turnover rates in the senior living industry continue to be increasingly high. Losing employees impacts your facility tremendously by decreasing the quality of care, decreasing resident satisfaction, and increasing recruitment and retention costs.

Continue reading for tips to increase employee engagement and retention at your senior living facility.

Read the first article in this series: Multifaceted Benchmarking to Achieve Effective Financial Performance.

Read the second article in this series: Multifaceted Benchmarking: Clinical Quality and Integration

Looking for Additional Tax Deductions While Significantly Increasing Your Retirement Savings? Don’t Overlook the Advantages of a Cash Balance Plan

Tue, 29 Sep 2015 00:00:00 GMT

As a successful medical professional, you may find yourself in any of the following situations:

1. Searching for additional tax savings.

2. Looking for ways to shelter more of your income for retirement or.

3. Looking for ways to “catch up” from financial hits your retirement assets may have taken in recent years, or from delaying the start of your saving for retirement due to student loans and children’s education.

Chances are that you already have a 401(k) plan that, depending upon your age, allows you to defer as much as $24,000, and when that is combined with a profit sharing contribution, you have the opportunity to shelter as much as $59,000 each year.

Continue reading to learn how a cash balance plan may be a viable option for you.

Recruiting in Today’s Changing Market

Tue, 29 Sep 2015 00:00:00 GMT

We all know how hard it is to find good people in today’s marketplace. This is even more apparent in the highly competitive health care industry. How organizations recruit top talent is changing daily as the candidate pool shrinks and qualified candidates become harder to find. Not long ago, running an ad in the local newspaper and posting to the big job boards yielded all the candidates organizations could ever need. This is no longer the case. As the demographics of the candidate pool continue to change and the use of social media increases, it is time to rethink how to recruit in today’s market.

Continue reading to uncover new strategies that your health care organization can use to recruit top talent.

Coding for More Than Insurance Reimbursement

Tue, 29 Sep 2015 00:00:00 GMT

You are currently experiencing some of the most significant and painful changes to how you collect patient service data with the implementation of ICD-10, the increasing focus on cost and quality, and the dependence on providers to effectively use electronic health records (EHR) all happening at once. You are no longer coding simply for insurance claims payment purposes. Codes are now used for severity adjustment, quality of care assessment, case mix management, public health surveillance, patient safety evaluation, and even marketing efforts. As a result, health care organizations that focus on capturing the most specific and accurately coded data for each patient encounter are collecting powerful information about their patients’ status and condition over time. Certainly, this is important for providing the best care to their patients, but it’s also key to ensuring their practices remain profitable as the Affordable Care Act continues to unwind.

This feature article pertains to charge capture and coding tips that are designed to ensure that your coded information truly reflects the services you are providing. You can perform a quick checkup for your organization by ensuring the answer to each of the eight items is “yes.”

Change Is Good: Discovering the possibilities - Recorded Webinar

Mon, 21 Sep 2015 00:00:00 GMT

Be better tomorrow than you are today!

Every manufacturing company has processes they perform daily or multiple times during a day. How effective, efficient, and lean are those processes? This recorded webinar uncovers methods to discover and solve problems as a team that drive innovation, increase efficiency, and ultimately reduce costs.

Collaborate to generate ideas, promote self-discovery and ownership to solve process challenges and come up with working solutions. We talk about guiding your team through this discovery by slowing down the process, which allows your employees the time, space, and permission to think differently about their work while gaining new perspectives on the tasks at hand. Your employees begin to understand the flow from a different perspective, one that allows them to refine the process by eliminating non-value-added steps, keeping information moving, and arriving at decisions more quickly.

Your organization can evolve, improve, and change through collaboration and problem solving around a common purpose. The energy of your team and the commitment to being better will drive change to make continuous improvement contagious and provide more value to your customers.

Who Should Attend?

This recorded webinar is intended for business owners, senior management, and supporting business management professionals interested in discovering solutions that drive innovation, increase efficiencies, and reduce costs.

Medical Identity Theft Is on the Rise—and Going Higher

Wed, 09 Sep 2015 00:00:00 GMT

Forget Target and other big retailers. The real targets for today’s criminals are health care organizations. Earlier this year, an annual study published by the Ponemon Institute

and the Medical Identity Fraud Alliance highlighted the increasingly alarming rates of medical identity theft: Two million Americans were victims of medical identity theft in 2014, an astounding 22-percent increase from the previous year.

Read the full article below to learn more about identity theft and its impact on the health care industry.

The NEW FFIEC Cybersecurity Assessment Tool: What Your CEO Needs to Know - Recorded Webinar

Fri, 04 Sep 2015 00:00:00 GMT

Cybersecurity is at the top of the minds of bank execs and regulators alike. Cyber-attacks are relentless and occur with alarming frequency, and financial institutions are one of the primary targets. The reality is 100% protection is not possible. There are thousands of ways attackers can compromise security and they only need to be successful once.

Banks must become familiar with this tool since it will become part of future regulatory examinations. This session reviews what your senior management and the Board of Directors need to know about cybersecurity and how to be prepared for new regulatory scrutiny.

TRUST: The Most Powerful Innovation in Health Care

Thu, 03 Sep 2015 00:00:00 GMT

As a health care leader in an ever-changing world, you know the importance of constantly rethinking the way you deliver care. In order for health care organizations to survive, they must consider how to transform traditional health care by harnessing the power of innovation.

Innovation in health care is similar to that in other industries. It takes into account a complex “ecosystem” of stakeholders and addresses how they interact with their environments to achieve a desired outcome. In health care, that desired outcome is shifting from managing diseases to attaining and sustaining a higher health status. In order to accomplish this, you need to look at health from both a social and behavioral perspective. This starts with building trusting relationships across the entire health care delivery system. Trust means the ability to depend on each other to achieve a common purpose. In the health care realm, patients, providers, and other stakeholders are all dependent on each other to achieve population health. Trust is widely recognized as being central to the successful doctor-patient relationship.

So how do you innovate in building trust? Read the article below to learn about three key steps to hold yourself, your providers, and your staff accountable.

Multifaceted Benchmarking: Clinical Quality and Integration

Thu, 03 Sep 2015 00:00:00 GMT

Previously, benchmarking for senior living facilities was just about the financials. Today, benchmarking consists of so much more than financial numbers.

In this continuing article series, we will explore the four critical benchmark categories senior living and post-acute providers must address in order to succeed in today’s wildly dynamic marketplace (and that’s putting it mildly).

Read the first article in this series: Multifaceted Benchmarking to Achieve Effective Financial Performance.

Chronic Care Management (CCM) Services—Not Just Professional Services

Thu, 03 Sep 2015 00:00:00 GMT

Beginning this year, Medicare began paying separately for non-face-to-face care coordination services furnished to Medicare beneficiaries with multiple chronic conditions. These services have been overlooked by many hospitals as a “professional-only” service, thus missing a revenue opportunity. Read the article below to learn more about ways to enhance your existing policies and procedures.

GAAP and Financial Reporting: An Update on Important Developments - Recorded Webinar

Fri, 22 Nov 2013 00:00:00 GMT

The landscape of generally accepted accounting principles (GAAP) and financial reporting for private companies is constantly evolving and changing. It’s critical for Individuals responsible for financial reporting to stay up to date on existing changes and stay ahead of the curve on pending or potential changes.

What are the latest changes that may affect your organization, and what financial reporting matters may be important for you to consider? Join us for this informative GAAP update webinar designed to address those key changes and the impact they may have on your financial reporting and, in some cases, your operations. Presenters will provide details on the changes in accounting standards as well as the practical implications to your organization.

Learning Objectives:

Get an up-to-date look at recent changes in GAAP and financial reporting for private companies
Review practical options available to companies related to recent changes
Understand the landscape of future accounting changes
Become familiar with the forces affecting private company reporting

New Credit Card Protection Rules: Going Beyond Checkbox Compliance

Fri, 22 Nov 2013 00:00:00 GMT

If your organization collects, stores, transmits, or processes credit card information, the New Year ushers in some new rules.

Updates to the Payment Card Industry Data Security Standard (PCI DSS) were released in November 2013 and become effective January 1, 2014. Issued by the PCI Security Standards Council, the recent updates include some additions, enhancements, and best practice guidelines to help properly secure online payments and transaction systems. Merchants and organizations will have until the end of 2014 to achieve compliance with many of the new updates and until mid-2015 to comply with certain additions to the standard.

HITRUST Assessment: Exploring the Benefits - Recorded Webinar

Thu, 14 Nov 2013 00:00:00 GMT

This webinar was recorded on November 14, 2013.

Ensuring the security of protected health information has never been more critical than it is today. As your organization works to comply with ever-evolving security regulations, pending federal audits, and the risk of breaches, where will you turn for assistance and assurance?

The Health Information Trust Alliance (HITRUST) Common Security Framework (CSF) is one of the health care industry’s most widely adopted risk frameworks. It enables you to:

Obtain an independent, third-party assessment that meets the HIPAA Security Rule’s risk assessment requirement
Identify areas of risk and obtain a remediation plan
Improve your security confidence and lower your risk of a security incident or breach of PHI
Take your security program to the next level through certification
Ensure strong vendor management
Be benchmarked against other health care covered entities or business associates of like size and business purpose

With the adoption of electronic health records (EHRs) and health information exchanges (HIEs), the growing threat of medical ID theft, and the increased emphasis on individual privacy, you need proper security controls in place. You also need to comply with multiple requirements on several fronts—and those requirements keep changing.

Learning Objectives:

What or who is HITRUST?
What sets HITRUST apart from other risk assessment frameworks?
The importance of risk management beyond regulatory compliance
Federal audits: Why a risk assessment has never been so important
How Wipfli utilizes HITRUST to help clients with assessing risk

Sales and Use Tax - Minnesota Update - Recorded Webinar

Thu, 14 Nov 2013 00:00:00 GMT

It’s easy to get lost in ever-changing sales and use tax laws, and the state of Minnesota is no exception. Minnesota recently enacted numerous changes to its sales tax laws that affect all businesses, large and small. Most law changes went into effect on July 1, 2013, with some changes extended out to become effective in March and August next year. Many of the new sales taxes fall on business-to-business transactions, but as with most law changes, there will be “exceptions to the rule.”

This update covers in detail the complex changes to the Minnesota sales and use tax law. Key topics include changes in the treatment of repair services, warehousing services, software, capital equipment purchases, nexus rules, and more.

Please note that CPE credit cannot be awarded for viewing recorded webinars.

Revenue Cycle Opportunities for Critical Access Hospitals - Recorded Webinar

Tue, 12 Nov 2013 00:00:00 GMT

In this webinar we present revenue cycle opportunities for critical access hospitals (CAHs), including:

Common Misunderstandings Consulting Firms Have of CAHs
Common Misunderstandings CAHs Have of CMS Instructions
Bundling Payments versus Bundling Charges
Revenue Opportunities for Inpatients and Outpatients
Keys to Maximizing Revenue Opportunities

Minimize Your Taxes With Research Credits

Tue, 05 Nov 2013 00:00:00 GMT

This webinar was recorded November 5, 2013.

R&D Tax Credits: Opportunities and Pitfalls

Many companies overlook a tax incentive for research and development (R&D) activities because they apply their own definition of R&D and do not view many of the day-to-day design and development activities as R&D. In our experience, many of the day-to-day activities of design/build contractors and mechanical design, engineering, and architectural services may qualify for this incentive. In addition, others assume they are not large enough to qualify for the credit or simply do not view the activities they do as R&D.

In this webinar, you will learn how:

To identify the types of activities and expenditures that can qualify for the R&D tax credit.
The R&D credit can benefit your company by reducing the current and future cash outlays for taxes and potentially generating refunds for taxes previously paid.
R&D credits can generate cash flow even if the economy has negatively impacted your business and profitability is down.

In addition to the R&D credit information, don’t miss out on a review of the recommended documentation to substantiate the activities and expenses qualifying for the credit.

Who should attend?
This webinar is intended for CFOs and controllers. To maximize the benefit of the webinar, we also recommend including operations executives directly involved in design and development activities.

Presenter:

Scott Schumacher, Partner, Wipfli LLP

Interest Rate Swaps Revisited

Fri, 01 Nov 2013 00:00:00 GMT

Interest rate swaps and other similar hedging instruments are not new. They have been a well-accepted financial tool in the banking industry for years. With the likelihood of rising market interest rates, these instruments have begun to receive attention again.

Selecting and Managing an Automated Surveillance System

Fri, 01 Nov 2013 00:00:00 GMT

As the size, complexity, and nature of customer relationships have evolved, so have the skills of money launderers and other criminal elements whose true purpose is to use the financial system to disguise the source of their cash. The risk for money laundering and terrorist financing increases as terrorists and money launderers get more sophisticated in figuring out ways to infiltrate the U.S. financial system. To mitigate this risk, more and more financial institutions are implementing automated monitoring systems also known as automated surveillance systems, to assist with ongoing customer due diligence and enhanced due diligence to ensure account profiles are current. These systems also assist in complying with the requirement for the internal controls component of the Bank Secrecy Act and provide the ability to make monitoring risk-based.

Beware of Hackers

Fri, 01 Nov 2013 00:00:00 GMT

Lurking in the shadows . . . .or wearing business suits in an office . . . computer hackers are among us, and we might not even know when one is watching us!

Creating High-Functioning Leadership Teams, Part 2

Wed, 30 Oct 2013 00:00:00 GMT

Leadership is a critical factor in securing success for today’s health care organizations. Now more than ever before, organizations depend greatly on high-functioning leadership teams. Creating and sustaining those teams demands considerable effort. It requires the implementation and cultivation of five key elements—trust, creative conflict, commitment, accountability, and finally, a focus on results.

In part one of this series, the elements of trust and creative conflict were explored and explained. Both are vital in building a foundation that supports strong teamwork and a healthy work environment. In part two of this article we will discuss the remaining three steps in the high-functioning pyramid, including the important role leaders play in guiding their teams to success, how team members play an equally important role, and how ultimately high-functioning teams produce RESULTS!

Please note: this article is the second in a two-part series.

It Is NOT Too Late to Take Advantage of Accelerated Depreciation and Energy Deductions From the Past, Present, and Future

Thu, 10 Oct 2013 00:00:00 GMT

Many developers, retailers, and manufacturers have purchased an existing property, constructed a new building, built out leasehold improvements, or renovated a building over the last 10 years. Because of the downturn in the economy since 2008, developers, retailers, and manufacturers, like most business taxpayers, had no need to accelerate their depreciation. However, as we come out of 2013, a lot of taxpayers are finding they need more depreciation to offset last year’s profits. Cost segregation studies can help a company manage its annual tax burden through the proper classification of assets. Properly done, a study can result in additional accelerated depreciation deductions for tax advantages and improved cash flow. This informative webinar will provide you with a better understanding of the value of cost segregation and energy efficiency studies for your commercial or manufacturing facility. In addition, you’ll learn how easy it is to go back in time to do a catch-up cost segregation or energy efficiency study and capture all of the accelerated depreciation in the 2013 tax year.

Payroll: Getting it Right or Getting Penalized

Tue, 08 Oct 2013 00:00:00 GMT

When it comes to payroll, every business, regardless of size, is responsible for understanding the government’s regulations and definitions. With a solid understanding, companies can then minimize penalties and/or mitigate the risk of exposure to private lawsuits. However, employers aren’t always compliant with regulations or fully aware of their overall responsibilities.

Payroll processing is a burdensome task for many small businesses. It’s an onus that’s further compounded by federal, state, and local tax regulations that change regularly—often without notice. When an error, however unintentional, is uncovered, the IRS and state agencies are mostly unforgiving.

The most common payroll categories in which errors are most often found include:

Payroll tax deposits (not paying on time; incorrect amounts)
Tax agency requirements (failure to obtain proper federal and state identification numbers)
Social security (not staying up to date on the current social security tax rate)
Garnishments and child support (mishandling)
Third-party sick pay
Fringe benefits
Classification of employees versus 1099 contractors
Exempt versus nonexempt
Overtime rules
Group term life insurance coverage

Error number seven is particularly relevant today. The problem of misclassifying workers is so rampant that the federal government has enacted a new multi-agency initiative to bring in past due revenue. And the penalties for misclassifying are significant.

Provider-Based Reimbursement on Thin Ice

Thu, 03 Oct 2013 00:00:00 GMT

Hospitals that own and operate medical practices often achieve higher Medicare reimbursement for physician, diagnostic, and other ambulatory services through “provider based” status. However, as Medicare reimbursement reductions are evaluated by the Centers for Medicare and Medicaid Services (CMS) and budget-minded federal policy makers, the reimbursement differential for many services delivered in provider-based settings may be eliminated. Therefore, organizations that depend on the more favorable reimbursement for provider-based services to offset the cost of providing care to Medicare beneficiaries may find it necessary to make substantial changes in future operating expenses to remain financially viable in an ever-changing health care marketplace.

Managing Your Property Tax Liability - Saving Tax Dollars and Improving Your Bottom Line - Recorded Webinar

Wed, 25 Sep 2013 00:00:00 GMT

Property taxes are one of the largest recurring operating expenses associated with real property ownership. In addition, owners are often unaware of how their commercial property is valued by the local assessing authority. Local real property tax is one of the few taxes subject to annual reviews, opinions, assumptions, and negotiations.

For these reasons, it is imperative for manufacturers to understand the property tax assessment process and to regularly review assessments to determine if your property was over-assessed and subject to excessive taxation.

Proactive management of your property tax liability can greatly impact your bottom line and positively affect profitability. This informative webinar will provide insights on the following key areas and focus on what you need to know:

High-level look at valuation methods and techniques used for estimating fair market values
Significance of external data sources such as comparable sales and market demand and how they affect the value of your property
Property tax assessment trends
Importance of reviewing assessments during times of economic change
Why and when a property tax appeal may be necessary
Tips for navigating the assessment review and appeal process

More Wisconsin Businesses to Qualify for Tax Savings Through Research Credit

Thu, 19 Sep 2013 00:00:00 GMT

Until recently, the Wisconsin research credit was available only to C corporations. As part of the Wisconsin Budget Bill that was recently enacted, the availability of the research credit has expanded significantly and is now available to be claimed by S corporations, partnerships, and sole proprietorships for tax years beginning after December 31, 2012. This will provide an opportunity for businesses in Wisconsin to reduce their tax liability by claiming the research credit.

Abila Nonprofit Solutions Newsletter – 3rd Quarter 2013

Fri, 13 Sep 2013 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

Working with User-Defined Fields
Sage Nonprofit is Now Abila, Inc.
First Annual Abila Customer Conference in November

Concrete Terms - September 2013

Mon, 09 Sep 2013 00:00:00 GMT

How to motivate contractors to complete the project

Upon substantial completion of a construction project, the owner, architect, and contractor perform a walk-through inspection to make sure all work has been completed and with no visible defects. During the process, a punch list, or list of deficiencies, is prepared to document issues contractors are to address to complete the project. Since they normally have been paid nearly the total contract amount before the walk-through is performed, contractors seldom see a financial incentive to complete the work.

In this issue of Concrete Terms, learn how to motivate your contractor to complete the project.

Valuation or Calculation of Value? What’s the Difference?

Mon, 09 Sep 2013 00:00:00 GMT

Clients often ask, “Do I need a Conclusion of Value as determined in a Valuation engagement, or will a Calculated Value as determined in a Calculation of Value engagement suffice?” The answer? It depends. Let’s start by examining what’s required in each engagement.

A Valuation engagement and report that result in an expert Conclusion of Value, are governed by the professional and reporting standards of several professional organizations—among them, the American Institute of Certified Public Accounts (AICPA), the National Association of Certified Valuation Analysts, and The American Society of Appraisers (ASA). While each professional organization’s standards differ in some regard from one another, there is a great deal of consensus on the level and extent of research and analysis that must be performed in order to render a professional Conclusion of Value.

Injection and Infusion Coding and Charge Capture – Recorded Webinar

Wed, 04 Sep 2013 00:00:00 GMT

In this webinar we present important information you need to understand about documentation principles, key definitions, and both injection and infusion coding and reporting. In addition, we provide coding examples and have time for questions.

Is S-Corporation Status Still the Right Choice for Your Bank?

Sun, 01 Sep 2013 00:00:00 GMT

The S corporation is one of the most common forms of business structures used by community banks. In the past, it was not difficult to see why a community bank might choose to make the S-corporation election. One of the major benefits of electing S-corporation status was the tax advantages that it had relative to C corporations. As a C corporation, income is taxed at the corporate level and AGAIN at the shareholder level upon distribution, resulting in double taxation. As an S corporation, income is taxed only once at the shareholder level. This is a significant tax benefit for an S corporation!

Removing the “Cloud” from Cloud Computing - Recorded Webinar

Tue, 27 Aug 2013 00:00:00 GMT

Yet what exactly is cloud computing, and what does it mean from a business owner’s perspective? Beyond the technical talk, this webinar will focus on:

The basics of cloud computing
Why this topic is important for manufacturing and distribution organizations
The benefits and challenges of cloud computing
How the cost of cloud computing compares with the traditional approach for buying hardware and software
The security implications you should be aware of
When is the right time to consider moving to the cloud

Cybercrimes: Is Your Business Insured?

Fri, 23 Aug 2013 00:00:00 GMT

When an individual’s credit, ATM or debit card is lost or stolen, federal law limits a consumer’s liability for unauthorized charges. Likewise, federal laws generally limit an individual’s liability for unauthorized electronic funds transfers and other fraudulent transactions to a personal bank account.

But when a business ‘s bank account is compromised as a result of cybercrime, or when a business becomes a victim of Automated Clearing House (ACH) fraud, those organizations are often shocked to learn they’re left holding the bag for the amount of the unauthorized transactions. Unlike individual consumers, businesses aren’t protected and they don’t get their money back.

Cybercrimes are on the rise and the FDIC has seen an increase in reports of unauthorized electronic transfers made from bank accounts held by small businesses. According to the National Cyber Security Alliance, cyber-attacks cost small and medium-size businesses an average of $188,242 and almost two-thirds of victimized companies are forced out of business within six months of being attacked.

Implementing and maintaining a cyber-security plan is key, but businesses should also consider adding cybercrime insurance to their overall risk strategy.

Is Junior Capital an Option to Fuel Growth and Value? - Recorded Webinar

Tue, 06 Aug 2013 00:00:00 GMT

As an owner or member of senior management of a privately held middle-market company, are you seeking to fuel growth and value? Junior third-party capital—either subordinated (also known as mezzanine) debt or institutional equity—can be useful to companies in a variety of ways. It is beneficial to understand when raising junior capital can create incremental shareholder value and how various types of junior capital can enhance and impact businesses going forward.

When exploring this realm, many questions come into play: What types of junior capital are available? Who provides these investments, and how are they structured? When selecting junior capital, how do I know which type makes the most sense for my company and its shareholders?

During this webinar, you will gain an understanding of the big picture and the myriad of options available. We will provide an overview of the different types of junior capital available, including Mezzanine debt and institutional equity, and will specifically discuss:

Sources of junior capital
When each type of junior capital is typically used
Typical investment structures
The current environment for each type of junior capital

Establishing Your Legal Structure: Deciding What's Best for Your Senior Living Organization

Tue, 06 Aug 2013 00:00:00 GMT

Senior housing is the country’s largest growth industry, and the numbers of senior living facilities are on the rise. There are many choices that accompany the launch of a new senior living facility. Among the biggest startup questions is what legal structure is best? Is it best to operate under an S corporation, a C corporation, or a Partnership/Limited Liability Company (LLC)?

The short answer is, it depends. Each option comes with tax implications and a number of business benefits or drawbacks. Whether starting a new facility or reevaluating an existing one, this thought leadership paper includes some of top differences in corporate structures you should be aware of, along with their relevance to the long-term care industry.

Enhance Business Performance in Long Term Care - Recorded Webinar

Thu, 28 Jul 2011 00:00:00 GMT

Today’s health care industry, with its evolving health care reform service models, reduced reimbursements, and a competitive environment for senior care, presents challenges. When care opportunities arise, organizations must be prepared to quickly analyze the financial impact of accepting residents of varying payer types and to make decisions regarding service opportunities with care partners. More importantly, organizations need to understand operational costs and manage cost-per-resident-day effectively.

Enhance Operating Effectiveness With Accurate Information

Wipfli has responded to these growing information needs in health care. Leveraging our Microsoft partnership, we are providing organizations with an integrated Microsoft Dynamics® GP solution. This solution enables you to manage financial, payroll, human resources, and supplies information needs across the enterprise. Your customized solution is implemented with the industry expertise of Wipfli’s health care technology resources.

Optimize Your Organization

This webinar, recorded July 28, will help you discover how you can move from silos of data in various spreadsheets, databases, and random e-mail to having integrated and accessible information across your entire organization. Microsoft Dynamics® GP reporting capabilities make information easily accessible and organized to support business decisions based on real-time data. You can expect results such as reductions in errors and improved performance monitoring.

Learning Objectives:

Review industry trends and challenges driving the need for improved financial reporting.
Learn how you can streamline business processes and leverage workflow to better manage operations.
See firsthand how the Microsoft Dynamics® GP solution from Wipfli can improve productivity by delivering reliable, real-time data.

Dodd-Frank July 21 Deadline "To Do" List

Thu, 14 Jul 2011 00:00:00 GMT

July 21, 2011, is not only the first anniversary of the passing of the Dodd-Frank Act, but also the effective date of several provisions of the Act which will impact financial institutions. Are you prepared? Here’s a brief summary of the regulatory changes that you must comply with on or before July 21.

Looking Ahead: The Role of Governance in Quality Improvement

Thu, 07 Jul 2011 00:00:00 GMT

The board of directors’ role at health care organizations has transitioned greatly since its early days as representatives for philanthropic and educational initiatives. Today’s board members have significant responsibilities in operational and strategic planning to ensure quality health care environments.

The growing scrutiny around health care reform has increased urgencies toward quality improvements, cost reductions, and patient satisfaction. As a result, board governance must become more robust or face costly consequences. Governing boards must make the quality of care and patient safety top priorities to ensure their organizations’ success.

This article helps boards define their governance role within the quality equation amid this new reform-driven era, with concepts for applying consistently robust governance practices in order to maintain quality and safety.

Building a Mobile Strategy - Recorded Webinar

Fri, 24 Jun 2011 00:00:00 GMT

As a manufacturer, could you benefit from mobile applications and technology? Do you have a mobile strategy? Which platform is right for you? Which applications can make your workers most productive? These are all important questions.

Mobile computing is the fastest growing area of information technology. The explosive adoption of smart phones and tablet PCs make practical mobile solutions a reality. Employees can access sophisticated applications and crucial data while on the move and, in doing so, be productive virtually anywhere.

This webinar provides a nontechnical understanding of the current state of mobile computing—the available technologies and examples of how it is being used and how it might improve your business.

Overdraft Protection Guidance

Thu, 23 Jun 2011 00:00:00 GMT

In November 2010, the FDIC issued final guidance regarding overdraft protection programs that is the culmination of recent regulatory focus on the perceived poor practices by financial institutions in relation to automated overdraft programs. Even though your financial institution may not be regulated by the FDIC, it may be prudent to develop a program that will be compliant with the FDIC requirements in the event your primary regulator or the new Consumer Financial Protection Bureau adopts a similar plan.

Troubled Debt Restructuring: An Accounting Update

Thu, 23 Jun 2011 00:00:00 GMT

In April 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2011-02, A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring. This ASU provides some clarification as to when a loan modification or restructuring is considered a troubled debt restructuring (TDR).

Sage Nonprofit Solutions Newsletter - 2nd Quarter 2011

Wed, 08 Jun 2011 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

Introducing Sage Grant Management
Testing the Waters with Social Media

Lease Accounting: How will the proposed changes affect you? - Recorded Webinar

Mon, 30 May 2011 00:00:00 GMT

In August 2010, the Financial Accounting Standards Board (FASB) issued the original exposure draft of a new accounting standard related to lease accounting. While the FASB and the International Accounting Standards Board (IASB) continue to make changes and the proposed standard has not yet been finalized, the pending changes to lease accounting rules will create a profound and lasting effect on all businesses, including manufacturers. Until the final standard is released, we do not know what the ultimate impact will be; however, we do know the direction in which the FASB and IASB are heading.

In the proposed standard, the accounting model for leases would change to a “right of use” model in which a lessee would recognize an asset representing its right to use the leased asset. As a result, many leased assets will be recorded as an asset by the lessee, even if they would be treated as an operating lease under current accounting standards.

During this webinar, participants gain an understanding of how these proposed changes might affect your financial statements, so you can begin planning now for the impact the rules will have on your organization and the way you conduct business.

Presenters provide a brief history of lease accounting, highlight the major changes proposed, review lease accounting from both lessee and lessor perspectives, and address the likely impact these proposed changes will have on financial statements.

Window of Opportunity Closing for Taxpayers with Foreign Bank Accounts or Investments in Foreign Mutual or Other Similar Pooled Funds

Fri, 20 May 2011 00:00:00 GMT

The Internal Revenue Service has dramatically increased its focus on offshore tax reporting. At the same time, it has clarified the definition of accounts for which an annual disclosure form must be filed. If certain conditions are met, you must disclose your financial interest in or signature authority over your foreign bank, mutual, or other similar pooled fund account. Disclosure is made on Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts, commonly known as the FBAR. This Alert highlights several alternatives the IRS has laid out for you to "fix" prior omissions.

Winning Projects Before They Become Projects: How CRM technology is making a difference - Recorded Webinar

Fri, 20 May 2011 00:00:00 GMT

Today’s economic climate and competitive bid environment present daunting challenges for general and specialty contractors alike. When opportunities present themselves, contractors must be organized, better prepared, and more coordinated in their project pursuits. More importantly, contractors need to be better aware of potential project opportunities before they become project opportunities. During this webinar discover how CRM technology, including Wipfli Connect for Contractors, is a valuable tool and helping make a difference.

Board Governance: What does it mean?

Thu, 19 May 2011 00:00:00 GMT

Board governance in the governmental industry is becoming a difficult task for many entities as funding levels for governments remain flat or are even decreasing in some cases. As governments struggle to provide the same level of service to their citizens, boards are getting heavily involved in the overall strategy and even day-to-day operations of the government. Since all the board members come from varying backgrounds and experience, we are seeing a lot of boards struggling to figure out what they should - and should not - be doing.

Most of the issues regarding board governance focus on three key areas: relationships between the board and the staff; roles and responsibilities of the board; and lastly, correlation between the effectiveness of the board and overall effectiveness of the organization.

Harnessing Technology to Manage and Win Grants

Thu, 19 May 2011 00:00:00 GMT

For many grant-funded organizations, acquiring, managing, and reporting on grants is a time consuming and inefficient—yet vital—part of daily operations. Too often, talented staff must spend more time composing spreadsheets to allocate funds and project future performance than actually focusing on improving those programs or spreading the word about their organization’s mission. This can be a serious disadvantage in the current funding climate, where grant-funded organizations face increased competition to win grants and are striving to provide more financial evidence of accountability to grantors. Fortunately, today’s grant management technology enables you to automate processes to manage your existing grants, and gives you an edge for winning others. Most importantly, it saves you time—so you can focus more of it on your mission.

Improving operational and clinical performance: The role of modeling and process change

Thu, 05 May 2011 00:00:00 GMT

As a provider of healthcare services, what keeps you up at night? For many, it is the combination of today's economics, ongoing competition, and health care reform legislation. All of these are creating market shifts and requiring continued changes to the care delivery system.

Physician-hospital integration: A primer on the Medical Group process

Thu, 05 May 2011 00:00:00 GMT

Independent group practices know that the one constant is change. Today, however, the pace of change is rapidly increasing and challenging the sustainability of private group practice independence. To learn the questions that must be confronted, download our Thought Leadership Paper by David D. Rothschiller, MBA, FACMPE, Executive Director - St. Paul Heart Clinic and Perry Hanson, MHA, Partner - Wipfli LLP.

Troubled Debt Restructurings

Mon, 02 May 2011 00:00:00 GMT

Many financial institutions are finding it necessary to modify loan terms for the benefit of borrowers who are unable to make payments according to the original loan terms because they are experiencing financial difficulties. These are commonly referred to as troubled debt restructurings (TDRs). In April 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2011-02, A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring. This ASU helps clarify when a loan modification or restructuring is considered a TDR.

Don't Lose Sight of the Small Stuff

Sun, 01 May 2011 00:00:00 GMT

As spring has sprung, so have many changes to the regulatory
environment. As always, some of the smaller changes seem to be
masked by the larger, more time-consuming, and complicated
regulatory changes. We have compiled a string of smaller events
already effective, upcoming, and proposed as a guidance tool for
financial institutions. Some of the changes require discrete
amendments, while others may be more cumbersome.

Don’t Lose Sight of the Small Stuff

Sun, 01 May 2011 00:00:00 GMT

As spring has sprung, so have many changes to the regulatory
environment. As always, some of the smaller changes seem to be
masked by the larger, more time consuming, and complicated
regulatory changes. We have compiled a string of smaller events
already effective, upcoming, and proposed as a guidance tool for
credit unions. Some of the changes require discrete
amendments, while others may be more cumbersome.

FDIC Assessment Changes

Sun, 01 May 2011 00:00:00 GMT

In FIL-8-2011, the FDIC announced it adopted a final rule implementing the Dodd-Frank Act’s dividend provisions, amending the deposit insurance assessment base, changing assessment rates, and revising the risk-based assessment system for large institutions. As a result of the changes, nearly all institutions with less than $10 billion in assets will pay smaller assessments.

Normalized Compensation: For Divorce and Beyond

Wed, 27 Apr 2011 00:00:00 GMT

For most business owners, the business represents the primary or only source of income. The amount of income an owner takes varies widely and can be completely discretionary. Some take little or no salary, while others pay themselves large annual sums. In addition, owners have discretion on other expenses that may benefit them personally which could be considered compensation (automobiles, country club memberships, etc.).

As a result, when performing a business valuation of a controlling interest in a company, adjustments are typically made to the owner’s actual compensation and benefits to “normalize” compensation and benefits. Normalized compensation is best defined as what the company would have to pay if it were to hire a replacement for the owner’s operational role or roles within the company.

Such adjustments for normalized compensation and benefits, however, may differ when a valuation is performed for the purposes of divorce.

Calibrating Consistency: Improving Rater Reliability in Performance Management - Recorded Webinar

Mon, 25 Apr 2011 00:00:00 GMT

All of us can identify with teachers who were “hard” or “easy” graders, as well as with some who were consistently fair. The workplace is no different. Replace “teacher” with “manager,” and you have the same situation, and you can see how it undermines management effectiveness and credibility with employees.

During this webinar, we explore the HR “best practice” of calibration–the process of ensuring that performance management is conducted consistently–between managers and across the organization.

Learning objectives include:

Gain an appreciation of the impact of rater inconsistency–what happens when managers aren’t on the same page in defining “meets” or “exceeds” expectations on performance reviews
Understand the benefits of conducting calibration sessions with your managers
Review tools and processes for developing and implementing a calibration process
Identify common mistakes and process pitfalls and how to address them constructively

Concrete Terms April 2011

Wed, 20 Apr 2011 00:00:00 GMT

How to avoid overpriced change orders.

Owners review contract documents for their project with an eye on reducing risks. But they often overlook change orders, unaware that each change order is a separate contract within a contract. This issue of Concrete Terms offers tips and ideas to modify contract language to help make sure change orders are reasonably priced.

Concrete Terms was created to give busy construction and real estate attorneys quick and practical information they can use to serve their clients better.

QlikView's Pragmatic Approach to Metadata

Mon, 18 Apr 2011 00:00:00 GMT

Metadata is an important element of BI software deployments. Prospective customers frequently ask us how the QlikView Business Discovery platform handles metadata and how much work is involved. This QlikView Technology White Paper describes how QlikView delivers metadata in a way that truly supports management oversight and control — yet is simple and straightforward. QlikView’s metadata approach can quickly and easily lead to improvements in QlikView process governance, troubleshooting and support, application development, data change analysis, and capacity planning.

Mix Up the Game and Realize Greater Profitability - Recorded Webinar

Mon, 28 Mar 2011 00:00:00 GMT

In today’s ever-changing and competitive business environment, it is critical that companies apply nontraditional thinking to the traditional approaches typically used when managing and operating their business. While traditional approaches work, it does not necessarily mean they are the most effective, efficient, or cost-effective. In many instances, the traditional approach may actually be the most expensive option. For example, using a departmental approach to the core functions of a business may actually cost more in inefficiencies than taking a value stream approach.

Applying lean fundamentals to all aspects of a business, not just the shop floor, can uncover numerous opportunities to increase efficiency, effectiveness, and ultimately profitability. This webinar focuses on defining several key areas where companies often experience a variety of costly issues and/or errors. Presenters look at how some businesses are choosing to take nontraditional approaches to address those issues and missed opportunities, and how those different approaches can help increase profits.

What Is Your Bank Really Worth? - Recorded Webinar

Wed, 09 Mar 2011 00:00:00 GMT

Bank valuations have gotten more complicated in light of recent developments in the industry. Whether a valuation is being completed for the board of directors, a buyout, goodwill impairment, gifting, or another purpose, you should have an understanding of the process, the terms, the definitions, and how various attributes affect the value of your bank.

In this webinar, you will learn why the value of your bank may not be worth what you thought and why the valuation rule of thumb you’ve always used may no longer apply.

Has Your Fraud IQ Kept Pace With Your Fraud Risk? - Recorded Webinar

Thu, 03 Mar 2011 00:00:00 GMT

Occupational fraud is estimated to cost U.S. organizations 7 percent of gross revenue – a whopping $994 billion in 2008 based on estimated U.S. Gross Domestic Product. Moreover, the down economy fuels all three components of the fraud triangle: need, opportunity and rationalization, thereby increasing your organization’s risk of occupational fraud.

This webinar addresses the origins of occupational fraud risk, why that risk has increased in today’s challenging economy, and what your organization can do to protect itself from this increased risk.

Attendees will learn:

The extent of the fraud risk facing organizations in today’s environment.
What are the factors which lead team members to perpetrate fraud on their organization?
How has the down economy increased the risk of occupational fraud?
What can an organization do to mitigate its fraud risk?

This webinar is intended for owners, senior management, risk officers, internal audit, compliance, accounting and finance staff or anyone charged with safeguarding organizational assets in your organization.

Sage Nonprofit Solutions Newsletter - 1st Quarter 2011

Thu, 03 Mar 2011 00:00:00 GMT

This edition of the quarterly newsletter features articles including:

How Do I Track That?
How to Hire a Great Nonprofit Accountant

Keys to a Successful Senior Housing Project in the Minnesota Market - Recorded Webinar

Thu, 03 Mar 2011 00:00:00 GMT

Population trends and the aging of the silent generation, the generation demanding senior housing today and for the next 10 years, continue to be a focal point of the nation’s economy, the senior housing market, as well as the commercial real estate industry.

Despite economic and reimbursement challenges the senior living industry faces, the future of senior services and housing is bright. The growth of the 75 and over population will dramatically increase over the next 10 years. Demographic trends and forecasts demonstrate that the Minnesota senior housing market could be a significant opportunity for development. Development will need to increase over the next decade to keep up with the growing elderly population.

During this webinar, presenters will review industry and population trends and projections, market forecasts, the state of the senior living industry in Minnesota, as well as share their insights on the areas of Minnesota, in particular the Twin Cities, which show promise for senior housing development. Webinar attendees will be introduced to the key steps necessary to identify a successful project, as well as a number of different product types emerging and being developed in Minnesota.

Executive Compensation: Under Scrutiny Today and Tomorrow

Tue, 01 Mar 2011 00:00:00 GMT

If your board of directors has not had recent discussions regarding executive compensation, it should. Executive compensation is a hot topic, is in the line of sight of the regulators, and as such, deserves time on the board agenda.

From SAS to SOC: What You Need to Know About the End of the SAS 70

Tue, 01 Mar 2011 00:00:00 GMT

Since 1992, companies that provide business process outsourcing and data services, also known as service organizations, have utilized Statement on Auditing Standards No. 70 Service Organizations reports, commonly known as SAS 70s, to meet the independent assurance needs of their stakeholders. Customers, or user entities of the goods and services provided by service organizations, and those customers’ financial statement auditors (user auditors), have come to view the SAS 70 report as the de facto standard for independent assessment and assurance of a service organization’s internal control design and operating effectiveness.

Repairs vs. Capital Improvements to Buildings

Tue, 01 Mar 2011 00:00:00 GMT

Although Congress has been very generous in creating tax incentives for investments in personal property—such as Sec. 179 expensing and bonus depreciation—it hasn’t changed the 39-year depreciable life of nonresidential real estate for two decades. As a result, whatever expenditures are capitalized to a building will be depreciated for tax purposes over a period that will extend beyond most taxpayers’ working years.

Good “Accounting” News for SBA Lenders

Tue, 01 Mar 2011 00:00:00 GMT

In June 2009, the Financial Accounting Standards Board (FASB) issued Financial Accounting Standard No. 166, Accounting for Transfers of Financial Assets (now referred to as Accounting Standards Codification Subtopic 860-10), which was effective for most entities beginning January 1, 2010. Among other changes, this standard limited the situations when a “sale” of the guaranteed portion of a Small Business Administration (SBA) loan (“SBA loan sales”) to a third party could qualify as a sale for accounting purposes.

Wipfli: Insights

To Redisclose or Not to Redisclose—That Is the Question

Maximizing Owners' Retirement Plan Benefits

Have You Completed Your Fair Lending Risk Assessment?

The Importance of Updating Beneficiary Designations

Proposed Changes to the FLSA Overtime Regulations and the Actions Financial Institutions Should Take

Is it Time to Revisit Your de Minimis Capitalization Policy?

The FASB Plans to Clean up Business Combination Accounting Rules

FASB Votes to Defer New Revenue Recognition Standard by One Year

Using the Research Credit to Reduce the Effective Tax Rate

Is Your Holding Company Thinking Strategically?

Examiners and Your Institution’s BSA/AML System

Ask Both: What Can Your ACH Audit Do for You . . .And What Can You Do for Your ACH Audit?

Business Intelligence: Discover Your Company’s Untapped Potential - Recorded Webinar

Multifaceted Benchmarking to Achieve Effective Financial Performance

ACA Compliance and Form 1095-C for Great Plains - Recorded Webinar

Affordable Care Act Health Insurance Information Reporting for Small Businesses - Recorded Webinar

Top Ten Questions Regarding Provider-Based Clinics

Six Key Behaviors to Achieve Value-Based Care

Is Your Back Office Working for You or Against You?

Simplify and Standardize With Microsoft Dynamics® Lifecycle Services - Recorded Webinar

It Is Time to Get Serious About Strategic Planning

Cloud Computing: Ideal for Small Businesses

The Fundamentals of Incident Response Management Plan

Health Care M&A Update: First Half 2015

Five Mistakes Companies Make In Managing Customer-Provided Exemption Certificates (Is Your Company Guilty?)

Minnesota Provides Up-Front Sales Tax Exemption on Capital Equipment

SALT-ED Q&A: How do I avoid paying sales tax on the purchase of exempt items?

Selling a Business: Have You Proactively Addressed State and Local Tax Issues Before the “For Sale” Sign Goes Up?

Cybercrime in Manufacturing: You’re Next

Affordable Care Act Health Insurance Information Reporting: Are You Prepared? - Recorded Webinar

Recap and Review of the NEW FFIEC Cybersecurity Assessment Tool

Succession: Planning for a Senior Living Leadership Transition

Succession: Planning for a Hospital Leadership Transition

Basel III Final Rule

Do’s and Don’ts: Insider Internal Revenue Service Tips

Personal Devices in the Workplace: Managing Information Security Risks

Aligning Performance Management and Compensation Systems

How Does Your Compliance Management System Rate?

Internal Controls and Fraud Prevention

Don’t Lose Your S-Corporation Status!

How Does Your Compliance Management System Rate? (Credit Unions)

Are You Getting the Most Out of Your ERP Efforts?

Conflict Minerals: Understanding and Complying With Section 1502 of the Dodd-Frank Act - Recorded Webinar

Recent Gift Tax Decisions: Favorable Impacts on Pass-Through Entities

Gone But Not Forgotten: An Employee Handbook… For Managing Former Employees

Health Care Affiliations and Acquisitions: Understanding Market and Value Drivers and Legal Diligence Requirements – Recorded Webinar

Security Asset Management: An Ounce of Prevention

Health Care Reform: Understanding and Preparing for the 2014 Provisions - Recorded Webinar

Sage NonProfit Solutions Newsletter – 2nd Quarter 2013

Enhancing Collaboration and Knowledge Sharing in Your Business - Recorded Webinar

Deciding on Financing Options: What’s Available and Best Practices in RFP Creation and Evaluation – Recorded Webinar

Hospital-Physician Affiliations and Transactions: How Fair Market Value and Commercially Reasonable Standards Apply

Affordable Care Act

Third-Party Payment Processors – Mitigating Risk

"Troubleshooting” Some Loan Accounting Issues – Part 2

Concrete Terms — May 2013

Senior Housing: Trends and Opportunities Within the Fastest Growing Market

Retention Strategies for Keeping Your Best Employees - Recorded Webinar

Employer Provisions of Health Care Reform: Are You Prepared? – Recorded Webinar

Dodd-Frank Act and Financial Institutions – The Measured Approach

Preparing For Your Next Information Technology Examination

Physican-Hospital Integration Case Study

Social Media - What is it, who's using it, and why? - Recorded Webinar

Is the SBLF Right for Your Community Bank?

Concrete Terms January 2011

Sourcing Strategies to Optimize Your Organization - Recorded Webinar

Seven Community Banking Issues to Address in 2011

Health Care Trends and Issues for 2011

Is ‘Cloud Computing’ or ‘Hosting’ an Option for Your Organization? - Recorded Webinar

Year-end Planning: The Good to Know and The Need to Know - Recorded Webinar

Covered With Life of Loan Coverage?

Seven Credit Union Issues to Address in 2011

Cancellation of Debt and Form 1099-C Reporting Requirements

The Future of Lease Accounting and Revenue Recognition - Recorded Webinar

Sage Nonprofit Solutions Newsletter - 4th Quarter 2010

QlikView Product Roadmap

Uncovering the Unrecorded: Finding Hidden Assets in Divorce

Annual Coding Updates Webinar

Patient-Centered Medical Home: A Foundation of True Health Reform