In 2021, Congress passed the Corporate Transparency Act. Although the intent of the law was to combat money laundering, tax fraud and other illicit activities, in practice the majority of our clients will experience another reporting requirement to keep track of and potential for large fees for non-compliance.

Watch Wendy Kelly and Brannon Moncrief discuss the changing world of DSOs and learn how the current economic environment may be affecting your practice value.

If you received funding from the Department of Health and Human Services (HHS) under the Provider Relief Program (PRF) between July 1, 2020 and December 31, 2020 then you are now eligible to begin your reporting process.

Make 2022 the year you find financial peace of mind.

We have put together a list of some last-minute items to think about before the year ends to ensure you have taken advantage of everything you can this year. Not all points will apply to you, but the list is worth reviewing to ensure items are not forgotten about.

Active patients can be defined as patients seen for any reason throughout a set period of time in the practice, typically the previous 12 to 18 months. It takes years to acquire an active patient base and should be treated as one of the most critical numbers in your practice. We usually see a healthy, active patient base maintained at around 1,600 patients per hygienist.

Earlier this month, we let you know about a new round of provider relief funding for healthcare providers offered through the Health Resources and Services Administration (HRSA).  Applications for this fourth round of funding opened yesterday.

The Health Resources and Services Administration has recently announced an additional round of funding for medical and dental practices. These payments would be in addition to rounds one, two, and three of the provider relief fund payments issued to many of our clients last year.

The second draw of the Paycheck Protection Program (PPP) ended on May 31, 2021. Many of our clients were eligible to apply for a second draw of funding. If you are one of those lucky individuals, you likely are now eligible to apply for forgiveness for your second draw.

In the flurry of financial assistance that arrived in 2020, many of our clients received funding Health and Human Services(HHS) Provider Relief Fund (PRF). The Department of HHs removed the dates for reporting requirements late last year, but we have been made aware that there will indeed be reporting requirements for anyone who received funding under this program.

The majority of our clients have applied for and been granted forgiveness for PPP Round 1. This should be a straightforward and fairly simple process with your bank. If you have not done so already, now is the time to get this application done.

We have recently seen a tremendous increase in unemployment insurance fraud throughout the country and, unfortunately, have recently experienced this first hand at our firm.