TITLE

Accounting abracadabra

AUTHOR(S)
Galloro, Vince
PUB. DATE
October 2011
SOURCE
Modern Healthcare;10/3/2011, Vol. 41 Issue 40, p30
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
66631830

 

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