Wednesday, June 24: Know the Rules 

COVID-19 has created revenue and expense pressures as well as market challenges. Get the latest accounting and compliance updates along with insights into the status of capital markets, strategies for financial forecasting and beyond. 

Information on CPE credits

Day at a glance

10:00 – 10:50 a.m., CT Joe Fifer Opening Session and Introduction 
10:50 – 11:40 a.m., CT Featured General Session
11:40 a.m. – 12:00 p.m., CT Break
12:00 – 12:50 p.m., CT Concurrent Sessions
12:50 -1:00 p.m., CT Break
1:00 – 1:50 p.m., CT Concurrent Sessions
1:50 – 2:00 p.m., CT Break
2:00 – 2:50 p.m., CT Concurrent Sessions

Session Descriptions

Opening Session: Your Challenge, Our Mission (GS1)

The year 2020 brought a new challenge to healthcare in the form of a global pandemic. HFMA remains committed to supporting our members through all the professional challenges they may face. In this session, you'll hear from HFMA President and CEO Joe Fifer as he provides an update on the state of the industry, including an examination of the impacts of COVID-19 at various levels, the contributions and sacrifices being made by healthcare leaders and frontline clinicians, and a look forward to the transformation opportunities ahead. The session will include information about the COVID-19 resources available to HFMA members.

Date and Time

June 24, 10:00 – 10:50 a.m., CT

Capital Market Outlook (GS2)

This session will discuss the impact of the coronavirus on Moody's ratings and the forward-view on credit post containment and re-opening. You'll also examine recent rating activity and the incorporation of federal and state support in credit analysis. Finally, Ms. Goldstein will share Moody's longer-term implications of the pandemic, largely the weakening economy, expectations for rising uncompensated care, and the effect on financial leverage and debt burdens.

Date and Time

June 24, 10:50 – 11:40 a.m., CT

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It Takes a Community: Understanding Costs with the L7 Model (A02)

Standard cost accounting using ratios of cost to charges (RCC) offers minimal value. In this session, you’ll explore the framework for assessing your current cost accounting methodology, understanding the accuracy of your cost data, and benchmarking against peers with the HFMA-Strata L7 Cost Accounting Adoption Model. Panelists from provider organizations will review their organizations’ experience accessing accurate cost data by using advanced cost accounting, as measured by the L7 Model.

Date and Time

June 24, 12:00 p.m. – 12:50 p.m., CT

Accounting Update (A01)

This overview of current and proposed financial reporting requirements from various groups includes recent actions from GASB and FASB and explores impacts on your financial reporting. The session also includes a review of the latest HFMA Principles & Practices Board discussions and actions.

Date and Time

June 24, 12:00 p.m. – 12:50 p.m., CT

How Do Hospitals Respond to Private Equity Physician Deals? (A03)

While hospitals have myriad competition for affiliation transactions with direct hospital and even larger group competitors, the advent of private equity deals has created another formidable challenge. This session not only presents the PE model with real world examples, it offers an alternative explanation of a "PE-like" model for hospitals. The session will provide practical examples of how hospitals may counteract and respond to PE transactions by not only providing alternative and analogous structures, but by also considering legal and regulatory issues. The attendees will afterward possess definitive strategies with legally sanitized parameters to compete with PE deals.  

Date and Time

June 24, 12:00 p.m. – 12:50 p.m., CT

Compliance in the New World (B01)

This session will offer a review of new legal and compliance issues in the pandemic, as well as explore other issues of major legal importance that deserve focus.

Date and Time

June 24, 1:00 – 1:50 p.m. CT

Managing Healthcare Risks Through Internal Audit (B02)

Learn how to leverage an internal audit function at your healthcare organization. Whether your organization already engages in internal audit activities, is considering an internal audit function or you want to learn about the role of an internal audit, this session will help you take a risk-focused approach to developing an internal audit plan.

Date and Time

June 24, 1:00 – 1:50 p.m. CT

CARES Act Accounting Implications (C01)

The CARES Act provided a number of different funding streams to healthcare providers in a very short amount of time. This left the industry with many questions regarding appropriate accounting and financial reporting for these funds. Former P&P Board Chair and Moss Adams Healthcare Practice Leader, Brian Conner and current P&P Board member and EY Partner, Dave Wiessel will break down the implications and provide guidance on all CARES Act funding as well as the impact on other ongoing and future accounting updates.

Date and Time

June 24, 2:00 – 2:50 p.m., CT

Stark and AKS Changes: New Opportunities, New Compliance Challenges (C02) 

The new Stark law and Anti-Kickback Statute changes provide exciting new opportunities to providers to better coordinate care.  But with these new opportunities come new areas of compliance that will need to be addressed.  This session will provide attendees with ideas on how to address those compliance challenges.

Date and Time

June 24, 2:00 – 2:50 p.m., CT