Local Office Blogs

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September 8, 2015

This year's Super Women in Business Awards was a memorable event recognizing the Mid-South's most influential women in business.  As a sponsor of the awards since its inception in 2012, we are proud to spotlight women playing a role in the success of their businesses and helping make the Memphis community a success through their involvement.

The awards luncheon was held at Hilton Memphis on Friday, August 28th. With 450 people in attendance, the crowd was energized as each Super Woman took the stage to accept a plaque and pink cape as well as to share ten words that described their idea of a "Super Woman," their award dedication, or their commitment to the city of Memphis. Though each woman's words were thoughtfully crafted, many chose to say more than their allotted ten words, and in doing so, donated a women’s clothing item for each word over ten to the DeNeuville Learning Center. Perhaps the most memorable selection came from Estella Mayhue-Greer of Mid-South Food Bank (pictured above right) when she said "To my family, you are the wind beneath my cape!"

For a full list of this year's Super Women in Business, click here.

For more information on CBIZ Women's Advantage and its impact on the Greater Memphis community, please contact Linda Lauer at llauer@cbiz.com or Megan Murdock at mmurdock@cbiz.com.

September 3, 2015

The FASB has proposed significant changes to the reporting requirements for Not-For-Profit entities in the Accounting Standards Update (ASU), Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities. Organizations subject to this update will be required to change the presentation of their financial statements in order to meet the new standards.

A significant modification included in the proposal would require reporting under a standard operating measure in the financial statements. Included in this proposal is a change that would affect the current classifications of net assets which include permanently restricted, temporarily restricted, and unrestricted to be replaced with only two categories: net assets with donor restrictions and net assets without donor restrictions. Not-for-profit organizations will also be required to report expenses by both the nature and function of the expenditures.  The proposal allows for the presentation of expenses by function and by nature on the face of the statement of activities, as a separate statement, or within the note disclosures.

Other changes include the required use of the direct method for the cash flow statement presentation of cash provided by operating activities and classifying cash flows consistently with the classifications used in the statement of activities.   

Comments on the proposal will be accepted on the FASB website until August 20. If you have questions regarding these proposed changes or not-for-profit financial reporting requirements, feel free to contact me, Jason Pittman, at jpittman@cbiz.com or one of my colleagues at CBIZ MHM Memphis.

Further information about the released exposure draft can be found on the Mayer Hoffman McCann, P.C. website.

September 1, 2015

The Memphis Office of CBIZ MHM hosted a lunch seminar on "How DOL Enforcement and Recent Litigation is Impacting Your Employee Benefit Plan."

Co-Presenters for the seminar included Linda Lauer, Co-Attest Practice Leader and Lead Managing Director, and Jennifer Kiesewetter, Attorney and Managing Partner of Kiesewetter Law Firm, PLLC.

Linda and Jennifer reviewed the recent Department of Labor (DOL) enforcement actions and court cases to help benefit plan sponsors develop best practices in plan administration.  In addition, the presentation looked at how the DOL’s inspection of audit firms has impacted plan sponsors. According to a recent EBP Audit Quality Study published by the DOL, nearly 4 in 10 EBP audits in the 2011 plan filing year contained major deficiencies and failed to meet regulatory standards making it even more important for companies to conduct thorough due diligence when selecting an auditor for their plan.

For more information on recent DOL activity and how it impacts your employee benefit plan, contact Linda at 901.685.5575 or llauer@cbiz.com.

September 1, 2015

Several of our past articles have focused on hospital employment of physicians and the related issue of physician compensation.  As we are all aware, any compensation arrangement between a hospital and physician must meet a litany of regulatory constraints, mainly those implicating the Stark Laws, the Anti-Kickback Statute, and the IRS regulations of not-for-profit entities.  Often, hospitals find the easiest way to avoid problems with Stark and the Anti-Kickback Statute is to meet the employment exception.   However, we have encountered a number of situations where a traditional employment model does not meet the needs of the physicians or the hospital.  In this article, we will discuss an alternative to traditional employment of physicians, a Professional Services Agreement ("PSA").  A PSA relies on the personal services exception and is gaining popularity for reasons discussed below.

Overview of a PSA Relationship

A PSA model allows a physician practice to remain intact, while assigning to the hospital the right to bill and collect professional fee-for-service revenue. The hospital then compensates the physician practice for the clinical services at a Fair Market Value rate.  As a result, the hospital becomes the practice's sole source of professional revenue and the hospital is then responsible to negotiate contracts and collect payments from third party payors and patients.

Typically, all clinical providers (physicians and non-physician providers) remain employed by the physician practice. The structure of the PSA payment can be customized to the needs of the parties, but is generally based upon work relative value units ("wRVUs") and a defined conversion factor, as agreed upon by the parties. It is important to consider what items will be reflected in the wRVU conversion factor. The rate can be set to include only compensation for professional services rendered, or can be "built up" to include consideration of benefits such as payroll taxes, retirement benefits and malpractice. 

In addition to professional clinical services, the hospital may choose to contract for support services and overhead from the physician practice. Support services and overhead can be structured in a variety of ways to allow the necessary resources to provide clinical services.  For any such services or costs contracted through the physician practice, we typically see a Management Services Agreement or other contract.

The hospital has the option of purchasing hard assets from the practice, or leasing them, at fair market value.  Likewise, the hospital can either employ the non-clinical staff directly, or lease them from the physician practice. In addition, the hospital can directly assume overhead expenses, such as rent, utilities, billing fees, supplies and malpractice, or reimburse the physician practice for appropriate expenses. Such expenses can be reimbursed based upon actual invoice cost, set at a "not to exceed" reimbursement, or can be paid directly by the hospital. Any expense that will not be directly controlled by the hospital should be addressed in an agreed upon budget and reviewed annually. 

Reasons to Consider a PSA

Many physicians are reluctant to enter into a full employment agreement for a variety of reasons. Some physicians find that PSAs are advantageous because they are able to keep their physician practice entity and maintain some level of control over the following:
• Distribution of physician compensation
• Retirement benefits and other discretionary expenses/benefits
• Leverage from other physicians and mid-level providers

In addition, similar to employment, the risk of collections is transferred to the hospital and the physician practice is insulated from payor contracting, payor mix and indigent or charity care.

Hospitals benefit from a PSA model because it allows them the opportunity to align with physicians in situations where employment has not been a viable option.  Hospitals often view the PSA model as a transitional model, with the hope of future employment. 

Compliance and Fair Market Value

Due to the numerous regulatory constraints discussed above, in addition to Fair Market Value considerations, it is critical to include legal counsel and valuators during the transaction process.

The PSA model is one of many alignment strategies available to physicians and hospitals. PSAs can take many forms, and contemplating the appropriate structure is complex. However, when appropriately structured, implemented and administered, PSAs may serve as a good alternative to traditional physician employment.

In future articles, we will expand on various strategies in aligning hospitals and physicians in the ever-changing, complex and highly regulated world of health care delivery.

The CBIZ Kansas City Healthcare group has more than 100 years of combined experience helping Hospitals and Health Systems form strategic relationships with their physicians. Our experience enables us to work with our clients considering the goals of the various constituents, in light of the regulatory constraints such as Stark, the Anti-Kickback Statutes and the IRS.

September 1, 2015

CBIZ MHM Tampa Bay partnered with Hill Ward Henderson and Merrill Lynch for a DOL Roundtable earlier this month at Capital Grille. This seminar provided practical information to be aware of as it relates to the integrity of employee benefit plans.

The panel of speakers included the following:

The main takeaways from the roundtable were how the DOL is taking action against plan sponsors, highlights of recent litigation involving benefit plans, and best practices to ensure plans are in compliance. Additionally, Jenny reviewed the recent EBP Audit Quality Study published by the DOL which revealed that nearly 4 in 10 EBP audits in the 2011 plan filing year contained major deficiencies and failed to meet regulatory standards.  This study’s findings make it even more important for companies to conduct thorough due diligence when selecting an auditor for their plan.

For more information regarding how DOL enforcement is impacting your employee benefit plan, contact Jenny Matasic at 727.572.1400 or jmatasic@cbiz.com.

August 31, 2015

August 27, 2015

Moira House, Director of Operations for the Memphis office, has been named a finalist for Human Resource Practitioner of the Year.  Sponsored by the Memphis Chapter of the Society for Human Resource Management (SHRM), this award is given to an individual that has demonstrated significant impact to the Human Resource function- specifically recognizing examples of strategy implementation that have directly contributed to firm achievements, innovation and unique approaches to addressing key business issues, and quantifiable contributions to overall business strategy.

Eustis Corrigan, Senior Managing Director, commented "Moira has brought a more intensified focus to our office on diversity and other human resources issues. She is clearly an expert in her field and has a great way of communicating with others. Her creative thinking in terms of performance management and goal-setting has set a new gold standard for our office that other practices within the firm are following."

In her role for the Memphis Office, Moira partners with key practice leaders to increase growth, profitability, efficiency and effectiveness. Further, she adds strength to our risk management focus to ensure an effective plan is in place to mitigate all areas of possible risk to our employees, business information, physical assets and finances. Moira oversees Human Resources as well as direct the workflow of administrative services to our internal and external clients.

To attend the HR Excellence Awards on September 9, visit the SHRM website for more details.

August 25, 2015

The Memphis office of CBIZ MHM partnered with the Memphis Business Journal for the fourth annual Super Women in Business Pre-Event Party on August 18th.  Linda Lauer, Lead Managing Director & Co-Attest Practice Leader, welcomed the crowd to the event and gave her personal support for the Awards, as well as the recognition it gives to the Mid-South's leading women decision makers. The 2012-2014 classes of honorees were also invited to mingle and network over drinks and hors d'oeurvres.

This year, the event was held at Sissy’s Log Cabin, a fine jeweler new to Memphis. More than 60 professionals enjoyed the luxurious jewelry and watches on display throughout the venue. Sissy’s jewelry experts were also available to provide insight into the quality and craftsmanship of their selection.  To make the event even more fun, this year’s Super Women were able to pick out any jewelry to wear and have their professional portraits taken.
Lauer, Executive Board member for CBIZ Women's Advantage, offered her insight: “It’s always great having a chance to interact with these amazing women at an event like this. This environment allows us to step away from the big awards and have the opportunity to socialize and network in a more personal setting. This is one of my favorite Memphis Business Journal events, and I look forward to hearing from these successful Super Women at the awards luncheon on Friday.”

It was certainly a glamorous night, and 60 of the Mid-South's most influential business women shined. To view this year's list of Super Women in Business click here. If you'd like more information on the CBIZ Women's Advantage, please contact Linda Lauer at llauer@cbiz.com.

August 25, 2015

CBIZ MHM Tampa Bay understands the challenges of operating in the nonprofit sector, and we provide the support that makes it easier for you to focus on core functions. Below are some of the exciting things happening in our national and local Not-for-Profit practice.

  • Monthly e-Newsletter – CBIZ & MHM publishes the Not-for-Profit Viewpoint, a monthly e-newsletter on the subjects affecting the NFP industry.  The latest newsletter featured topics such as Top Audit Risk Points and How to Triage a Website Breach.
  • National Webinars – CBIZ & MHM produce complimentary, CPE-certified webinars.  One webinar of note coming up on September 17 will focus on “Controlling and Managing Healthcare Costs – Practical Guidance to Maximizing Value.”
  • Local Roundtables – As new guidance and regulations are issued, we regularly respond with in-person education opportunities for the Tampa Bay area.  Most recently, we produced a 3-part breakfast series on the new OMB Uniform Guidance for recipients of federal funding.
  • Forbes America’s Best Employers – CBIZ was recognized this year as the #1 Accounting Employer in America by Forbes.  Additionally, our Tampa Bay practice was recognized again by TBBJ, Tampa Bay Times, and Florida Trend as a Best Place to Work.  What does this mean to you?  We focus on recruiting and retaining the best talent, so our clients get the best of the best on their engagement teams.
  • Board Governance Presentations – Our professionals regularly make presentations to NFP Boards of Directors on best governance practices. These 1-2 hour presentations cover best practices, board member roles and responsibilities, and fiduciary risks and liabilities.
  • Tampa Bay Business Journal’s Outstanding Board of Directors Awards – In appreciation for the service Boards of Directors provide to NFPs like yours, consider nominating a valued Board member in TBBJ’s newest awards.  CBIZ & MHM are proud to sponsor these awards.  Nomination information can be found here.

If you would like to learn more about any of these specific items or have questions for our NFP experts, contact Craig Gilman at cgilman@cbiz.com or Tracey McDonald at tracey.mcdonald@cbiz.com.

August 21, 2015

The Tampa Bay office of CBIZ MHM celebrated the first half of the year with food, beverages, and the beach at our summer party. The main objective of the summer party is to say “thank you” to our team members.

All employees were invited to the annual Summer Party event hosted by the social committee. Employees and their families gathered at the Hilton on Clearwater Beach for a day filled with fun and games despite the rainy weather.

For more information about how you can join our Tampa Bay team and participate in our team building activities like Summer Party, visit our Careers page.


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