|We are proud to exclusively present this extraordinary development opportunity.
This 11.3 acre (491,967 square foot) unique development opportunity is located in the heart of Miami-Dade County within blocks of the nexus of the Palmetto (826) and Dolphin (836) Expressways. With frontage on Park Drive and NW 82 Avenue, the site is perfectly positioned to provide a Senior Living and Healthcare Services Community for the mid-market retiree or active and working senior.
The proposed site plan includes a full-spectrum of services and amenities to allow residents to enjoy a fully-independent lifestyle while knowing that they have any resource they may need from Primary Care Physicians and Specialists to Diagnostics and Therapy, from Independent Living to Assisted Living and Memory Care, from Skilled Nursing to Rehabilitation Hospital and Physiatry Services. In short, residents can rest assured that their needs are met.
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In April 2012, The Centers for Medicare and Medicaid Services (CMS) awarded Figliozzi and Co., a CPA firm from Garden City, NY, the contract to audit compliance for Meaningful Use for those facilities that received payments from CMS. Under this program, CMS can recoup incentive payments made under the program, and even refer providers for civil and criminal penalties if there is evidence of fraud. Figiozzi, describes itself as ”an experienced group of accounting and auditing healthcare professionals. We specialize in the audits of healthcare facilities to determine compliance with Medicare and Medicaid regulations.” They will also make sure that these facilities are eligible Medicare providers.
A few years ago, we reported the high increase in lawsuits filed against home health agencies by their Home Health Aides (“HHAs”) claiming that the HHAs were not paid time-and-a-half for hours worked above the forty-hour work week. This type of lawsuit cost home health agencies large sums of money attorney’s fees defending the lawsuits. Agencies that did not settle with the HHA and fought the case were faced with the possibility of having to pay damages equal to three times the overtime wages not paid and the HHAs’ attorney’s fees.
This article addresses some of the important issues facing a physician in the sale of all or part of a practice. Each practice and transaction is different and thus a complete discussion of all of the possible issues in a sale would be extensive and beyond the scope of this article.
As a general rule, medical practices are acquired through asset purchase agreements for liability and tax reasons. Great attention should be given to the tax ramifications of the sale of the practice which may require some planning prior to the sale in order to minimize taxes. Greater attention should be given if the practice will survive in the form of a merger or its assets will be transferred to another entity in which the practioner has an interest. In some cases, the structure of the merger may be tax free. Some of the most important tax decisions will be made early on by deciding the form of business entity of the acquiring company. The decision to employ a C Corp., S Corp. Partnership or Limited Liability Company require an analysis of each entity’s pros and cons.
- Skilled nursing care on a part-time or intermittent basis. Skilled nursing care includes services and care that can only be done safely and correctly by a licensed nurse (either a registered nurse or a licensed practical nurse). The services must be reasonable and necessary for the treatment of your illness or injury.
- Home health aide services on a part-time or intermittent basis. A home health aide doesn’t have a nursing license. The aide provides support services for skilled nursing care. These services include help with personal care such as bathing, using the toilet, or dressing. Medicare doesn’t cover home health aide services unless you are also getting skilled care such as nursing care or other therapy from the home health agency. The home health aide services must be part of the care for your illness or injury