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BlumShapiro has assembled a team of healthcare professionals who have extensive experience with nursing homes, assisted living facilities, residential care homes and other senior housing providers. We understand your many challenges, particularly financial audit and cost reimbursement maximization. We can assist you with our extensive consulting services which can be customized to meet your specific needs.

Some of the many consulting services we provide include:

Internal Audit Services

BlumShapiro offers effective and efficient internal audit solutions to long-term care providers. Our team has extensive experience providing internal audit services to our healthcare clients, as well as providing financial statement audit and consulting services. You will be able to make meaningful management decisions with confidence. That’s because you will be aligned with a knowledgeable and experienced team who takes time to review your operations and provide you with the information you need.

Compliance Audits

Healthcare organizations are increasingly burdened by regulatory compliance requirements. The consequences of non-compliance with these regulations can be onerous. BlumShapiro’s compliance professionals can provide your organization with the following:

  • Comparison of organization practices against industry benchmarks
  • Employee training program assessments
  • Assessment of cost allowability determination processes

Interim Management Services

If your organization finds itself in need of an interim CFO, CCO or internal audit director, BlumShapiro has experienced professionals that can help lead your organization until a permanent replacement is determined.

Our professionals have served in several significant interim positions, including terms as interim chief financial officer for long-term care providers, interim chief corporate compliance officer for a major tertiary acute care hospital and as interim controller for a managed care provider.

Certificate of Need Assistance

When you're planning to change the configuration of your facility, the state's regulatory systems may need to examine the change. We will assist you with the application process and attend hearings. We can provide services for all stages of the approval process.

Cost Control Studies

Where are your major costs coming from? Are small expenses adding up to more than they should? We can use benchmarking, data mining and practical industry experience to help you analyze where your costs are coming from and how to control them.

Financial Forecasting, Budgeting Consulting and Assistance with Financing Issues

If you're considering a facility or service expansion, you need to understand the financial impact on your business and determine how you will pay for it. Through our client-specific forecasting model, we will analyze profit and loss, cash flow and key covenant requirements for your organization on a baseline, as well as incorporating assumptions. Make educated decisions on your business future by securing an in-depth cost analysis.

HIPAA Compliance Assistance

The federally legislated 1996 Health Insurance Portability and Accountability Act (HIPAA) covers a myriad of healthcare issues. HIPAA means different things to different businesses. Security and privacy of health data; setting standards for electronic healthcare transactions; and Medicare and Medicaid fraud and abuse issues are just a few of the many areas incorporated into this expansive bill. We will provide you with guidance on the compliance issues relevant to your business.

Medicaid and Medicare Cost Reporting

Like tax returns, state and federal forms are getting more complex. Completing them accurately is critical. With cost analysis and reporting a key component of these filings, completion in a compliant manner has taken on great scrutiny. Through our preparation methodology we will help you submit the necessary data.

Operational Consulting, Organization Studies and Revenue Maximization

How does your organization rate when compared with similar ones? We can provide comparative data to help you understand cost structures of like organizations, advise you on how to make your business work more efficiently and determine if there are ways you could be operating more profitably.

Reimbursement Consultation and Assistance

We help clients understand Medicaid and Medicare reimbursement regulations. When issues arise or when third party audits occur, we work hand-in-hand with our clients to clarify these issues. With significant experience dealing with state regulators and contracted auditors, we can provide you with reasonable solutions to resolve your issues.

Strategic Planning Services

If you're thinking of expanding into a new business area, strategic planning will help you determine and weigh the pros and cons. Healthcare is an ever-changing business now revolving around healthcare reform, revisions to Medicare and Medicaid, policy and business alignment and expansion and integration. Strategic planning can help your organization determine the potential benefits and risks as you operate in this changing environment.

Third Party Billing Consultation

We will show you how to set up and maintain efficient billing systems when you're dealing with Medicare, Medicaid and insurance companies.

Real Estate Cost Segregation Studies

IRS rulings may prove advantageous to accelerating depreciation of your costs for land, property and capital expenses. Our tax consultants can advise on the benefits of a review of these costs.

Ownership/Transition Planning

What are the tax implications of selling or passing on your business? Through this planning process, we will analyze your federal and state income tax returns, as well as sales and use, property and employment taxes. We will be able to identify areas of potential tax exposures, as well as potential opportunities.

Repairs and Maintenance

IRS clarification provides taxpayers the ability to re-classify capital expenditure providing increased cash flow for eligible organizations. Revenue procedure 2009-39 allows for an automatic accounting method change. These changes provide eligible taxpayers the opportunity to expense repairs and maintenance rather than depreciating them over time. BlumShapiro is uniquely positioned to provide you with the expertise to analyze your situation and determine the benefits that can be realized through this provision.

Contact our Long-term Care Services Team for more information:



Advisors | Auditors | Consultants | CPAs – BlumShapiro is one of the premier Healthcare CPA firms in New England and a Top 100 CPA Firm in the U.S. Our professionals serve medical and dental practices, hospitals, skilled nursing and long term care facilities in Boston (MA), Hartford (CT), Cranston (RI), Shelton (CT), Quincy (MA) and Newton (MA) with audit, tax and business consulting services. We are members of the Association of Long Term Care Managers, Connecticut Assisted Living Association, Healthcare Financial Management Association and the Rhode Island Healthcare Association.