Employers and HR managers have repeatedly expressed their dismay about missing out because their Work Opportunity Tax Credit applications weren’t handled professionally.
Home Health Care agencies are all looking for ways to increase their revenues. The Work Opportunity Tax Credit (WOTC) is the most overlooked mechanism for an improved bottom line in the industry. The Work Opportunity Tax Credit is a federal credit that allows companies to claim $2,400 to $9,600 for each eligible new hire. Completing a simple form for each new hire could earn your company hundreds-thousands of dollars in federal tax credits.
A debate has been brewing over the past few years surrounding the Center for Medicare and Medicaid Services (CMS) mandatory and voluntary bundled payment programs. The eventual goal is to shift healthcare providers from fee-for-service payment models to those that are value-based, the most popular being mandatory and voluntary bundled payments. Click to read it all!
Michael Markowitz of TC Services USA joins the podcast in a truly educational episode. He discusses how his company helps agencies take full advantage of the Work Opportunity Tax Credit (referred to commonly as WOTC). This incentive pays an employer $2400 per new employee hired - as long as the new employee meets certain criteria. Within the post-acute healthcare industry, Michael figures less than 10% of employers are taking advantage of this credit. We try to figure out why more companies are not doing this, and he has some good insights as to why. He also lays out the internal machinations of how the red tape works, and how his company helps take the scissors to that.
This is a very straightforward topic and something can impact you and your organization today.
Michael's company website: http://www.tcservicesusa.com/
Michael's software website: http://www.wotcsoftware.com
Curaport's website: http://www.curaport.com
Barrett Daniels, my friend and CEO of NextStep Advisor, checks in and talks about the convergence of Healthcare, Wall Street and the IPO world.
We talk about why there are not more 'prominent' Healthcare IPO's and stocks with sex appeal, what makes a healthcare company ready for an IPO, we take a brief foray into politics as it relates to healthcare, and discuss reverse mergers (I was really lost at this point).
We even somehome manage to talk about the cinematic classic Grease 2.
http://nextstepadvisory.com/ (Barrett's company)
With the New Year in full swing have you implemented A/R practices that will allow you to meet the goals you have ahead? Do you have your “finger on the pulse” of your business? And what will you be measuring this year?