Healthcare

The health care industry is transforming like never before. Lumsden McCormick has worked closely with many hospitals, physicians’ groups, and long-term care facilities, as well as numerous nonprofit health and human service agencies, throughout New York State. From community-based home health care agencies and clinics to regional health care systems, we offer valuable insight and exceptional expertise to the rapidly changing health care industry.  

Managing Risk, Improving Cash Flow

Our health care auditors and consultants will assist you to manage risk, find state reimbursement opportunities, and improve cash flow. Through our leadership in the Healthcare Financial Management Association (HFMA), our affiliation with the BDO Alliance USA, and a working knowledge of the New York State Department of Health (NYSDOH), Office of Alcoholism and Substance Abuse Services (OASAS), Office for People With Developmental Disabilities (OPWDD), Office of Mental Health (OMH), and the State Education Department (SED), we understand these increasingly regulatory environments and proactively offer practical solutions to even your most complex issues.

Our health care services include:

Audit and Assurance Services

  • Audits, reviews, and compilations of financial statements
  • Accounting systems, policies, and procedures
  • Consolidated Fiscal Reports (CFRs)
  • CMS 2552-10
  • CMS 2540-10
  • CMS 1728-94Institutional Cost Report (ICR)
  • Long-Term Home Health Care Program - LTHHCP
  • Ambulatory Health Care Facility - AHCF
  • Residential Health Care Facility - RHCF-2 and RHCF-4
  • Employee benefit plan audits
  • Forecasts and projections
  • Operations and internal control audits
  • Single Audits and Yellow Book audits
  • U.S. Department of Housing and Urban Development (HUD) program audits


Tax Services


Consulting Services

  • Bonding and other financing
  • Debt capacity
  • Due diligence - mergers and acquisitions
  • Fraud prevention, audits, and investigations
  • HIPAA compliance
  • Reimbursement
  • Medicare
  • Medicaid
  • Insurance companies
  • Appeals
  • Affiliations
  • Salary surveys and benchmarking

 

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Firm Resources

For more information about our accounting and consulting services for the health care industry, contact Michael GrimaldiJill Johnson, or complete the form below.

Services Leaders

Michael Grimaldi

Michael J. Grimaldi, CPA

Partner
Jill Johnson

Jill M. Johnson, CPA, CFE, CITP, FHFMA

Partner
Elizabeth Krause

Elizabeth S. Krause, CPA

Manager

Upcoming Events

Webinar Series Part IV: IRS Audit - Coming Soon Near You

Webinar Series Part IV: IRS Audit - Coming Soon Near You

July 14, 2021

The executive branch is looking to increase revenue for the IRS. Translation: expect to see an increase in the number of IRS audits being performed, including industries not traditionally targeted.

Learn More
Webinar Series Part V: Changes to Lease Accounting and How it Impacts Your Business

Webinar Series Part V: Changes to Lease Accounting and How it Impacts Your Business

July 27, 2021

The accounting for leases is changing significantly. The required implementation of FASB ASC 842 will mandate that most leases are included on the balance sheet as a right-of-use asset, with a corresponding lease liability. The new standard will impact nearly all commercial businesses and nonprofit organizations and is effective for annual reporting periods beginning after December 15, 2021.

Learn More
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