FASB Issues New Rules for Reporting Gifts-In-Kind

In September 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-07, Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets. The intent of this new standard is to expand transparency around nonfinancial gifts received in-kind, including how those gifts are used and how those gifts are […]

Seven Steps to Handle a Down Economy

The COVID-19 pandemic has had many ramifications. One of these has been a down economy that has affected many sectors of our society — including medical practices. Physicians have felt the effects as patients have lost jobs and health insurance, been reluctant to visit doctors’ offices because of fear of infection and shifted to saving […]

Get Ready for Your Closeup: Embrace Telehealth

Many physicians have increased their use of telehealth during the COVID-19 crisis. Clinic visits dropped by almost 60% in March and have remained low since then. By April, the Commonwealth Fund cited that about 30% of outpatient visits were now occurring on a virtual platform. It is clear that the COVID-19 pandemic has accelerated the […]

What You Need to Know About the SECURE Act

In late 2019, the first significant legislation related to retirement savings since 2006 became law. Whether you offer your employees a 403(b), a 401(k), a 457(b) or no retirement plan, the Setting Every Community Up for Retirement Enhancement (SECURE) Act includes provisions that could affect you and your employees. Related Read: SECURE Act: New Tax Incentives […]

Relief for Health Care Businesses Under the CARES Act

No one is immune from the financial impact of COVID-19, and those in the health care industry have felt its effects more than most. As the pandemic continues, Congress has passed several bills offering financial relief to individuals and businesses, including health care providers. One of the most significant pieces of legislation is the Coronavirus […]

How’s Your Revenue Cycle?

Do you know whether your practice’s revenue cycle management system is functioning at its peak potential? If not, your practice might be headed for trouble. To keep your practice financially healthy, you may want to assess the system’s strengths and weaknesses to make sure it is operating in a way that will maximize revenue and minimize waste.

Effective Governance — How Important is It Really?

Board Operations The value of an involved board of directors (governance) cannot be emphasized enough.  Any well-run organization, whether for-profit or not-for-profit, has a layer of controls beyond management to ensure that there are appropriate checks and balances over management’s responsibilities.  This also means that governance should be completely independent from management.  In other words, […]

Five Ways to Improve Practice Efficiency

The concept of work efficiency is rife with adages such as “work smarter, not harder” and “arrive early, leave late.” While certainly meaning well, these statements are vague. As such, I present to you five specific ways you can improve the efficiency of your medical practice: Get Paid for What You Do You should make […]

Should You Accept That New Grant?

Grants are among the most important funding sources for many not-for-profits. It is easy to understand why so many organizations are quick to accept every new grant that comes their way.

All Eyes on Performance: How to Make Data Analytics Work for You

Your not-for-profit organization is accountable to many constituents, including donors, volunteers and the people you serve. A surefire way to demonstrate your effectiveness is through the use of data analytics. With facts at your fingertips, your organization can show the world how you are meeting your goals in community outreach, program activities, fundraising and more. […]

Your Employee Handbook: It May Be Time for a Tune-up

An employee handbook sets the stage for many scenarios — from paid time off allowances, to performance reviews and termination procedures. As certain situations arise, knowing the rules can prevent surprise, confusion and resentment on both sides of the table. This article discusses the types of updates that may be required, including some recent regulatory and legislative actions and trends.

Look Before Determining Executive Compensation

When a not-for-profit sets the salary for an executive director or other key individual within the organization, the board of directors wants to make sure it is paying what is necessary to attract or retain the most qualified, capable individual for the position. This blog explains the steps that charitable organizations should take to be sure that compensation is “reasonable” in accordance with IRS standards.

Board Meetings: Time to Go Virtual?

Regularly scheduled board meetings are a necessity, but not every meeting has to be conducted in person. Virtual board meetings — ranging from conference calls to videoconferencing — can offer significant benefits for both organizations and their board members. This article describes both the advantages and disadvantages virtual meetings pose to busy board members.

Health Care Group Newsletter – Summer 2021

ORBA’s Health Care Group Newsletter provides ways to help improve the telemedicine experience in physician practices. The newsletter also looks at some of the features medical websites should have to ensure effectiveness and notes the importance of using marketing techniques to attract and retain patients.

Health Care Group Newsletter – Winter 2020

Our Health Care Group’s Winter 2019 Newsletter offers advice on removing inefficiencies and operating in a consumer-driven culture.

Health Care Group Newsletter – Winter 2019

Our Health Care Group’s Winter Newsletter offers insight on improving the efficiency of your practice, including tips on how to create a fair wage structure.

Not-For-Profit Group Newsletter – Summer 2018

Will the Tax Cuts and Jobs Act Make Your UBIT Jump? LAURENCE SOPHIAN, CPA, MBA As the new tax bill worked its way through Congress last fall, not-for-profits across the country raised their voices high to share concerns about its disincentives for charitable donations — as well as the proposed repeal of the Johnson Amendment. […]

Not-For-Profit Group Newsletter – Spring 2017

ORBA’s Not-For-Profit Group Newsletter is a quarterly publication focused on effective not-for-profit organization management. The Spring 2017 issue includes two articles: “Using Audit Techniques Can Help You Shape Your Future” and “Newsbits: Spring 2017.’”

Not-For-Profit Group Newsletter — Summer 2016

ORBA’s Not-For-Profit Group Newsletter is a quarterly publication focused on effective not-for-profit organization management. The Summer 2016 issue includes two articles: “When Investment Income Counts as UBI” and “Newsbits: Summer 2016.’”