The effects of COVID-19 create numerous hospital financial management issues. One specific issue is hospitals maintaining financial stability. As the United States adjusts to the pandemic, hospitals have the burden of navigating their purpose, mission, and values while maintaining operations. The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) is a comprehensive bill that includes provisions that financially assist healthcare providers. Nevertheless, as with all federal assistance, compliance with specific conditions is required. As the pandemic continues, if hospitals accept federal help to stabilize finances, awareness, and increasing training to comply with federal guidelines is crucial.
Connie Zhang Associate Editor Loyola University Chicago School of Law, JD 2018 Your healthcare may come from an accountable care organization, and you may not even know it. That could soon change now that the IRS has denied one commercial accountable care organization (ACO) the tax-exempt status granted to most nonprofit health care providers. …