Accounting abracadabra

Galloro, Vince
October 2011
Modern Healthcare;10/3/2011, Vol. 41 Issue 40, p30
Trade Publication
The article reveals that as part of the promise of the U.S. healthcare reform law, the U.S. Financial Accounting Standards Board (FASB) issued a new rule in its generally accepted accounting principles (GAAP) requiring healthcare organizations to deduct bad debt from gross patient revenue and transparency on the organization's process of collection. It adds that this will make bad debts disappear from healthcare organizations' income statements and will make it part of net patient revenue.


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