Provider services and solutions

Financial performance: Tax

The challenge

In a post-Sarbanes-Oxley world that demands increased transparency and faster financial close cycles, the success of a healthcare organization’s tax function depends largely on the effectiveness of its people, supporting processes, and data systems. Additionally, it is important for organizations to continually assess financial risks and liabilities, and to establish a culture of knowledge sharing between their finance and tax departments. To do more with their existing resources, organizations need to arrive at a flexible yet thorough solution that addresses the operating performance of their tax function.

How we can help you

• You should increase the sophistication of your tax strategies and bring world-class expertise to your tax plans and policies.
• We possess extensive knowledge of tax, compliance and business issues specific to the healthcare industry. We can apply our knowledge and methodologies to help formulate tax plans and policies to manage your local, state, federal, and international tax obligations. We can design a tax organization and specify personnel roles and reporting lines to fit tax management smoothly into your financial processes.
• We can manage the transition of your tax and financial processes with regard to health reform.
• To reduce tax exposure, your internal controls and information infrastructure should support strategic tax planning.
• We can assess tax risk and remediate shortcomings in your internal controls. We can develop a technology architecture to support enterprise-wide tax processes.
• We can configure your enterprise resource planning system to facilitate tax accounting and reporting.

Common services include

• Apply tax, compliance, and business requirements specific to the healthcare industry to local, state, federal, and global tax plans and policies
• Design and transform your tax accounting processes
• Design a tax function organization with role descriptions and reporting hierarchies
• Evaluate and configure tax provision technologies
• Develop technology architecture to support an enterprise-wide tax function
• Evaluate vendors for third-party tax technology solutions
• Configure an enterprise-wide reporting strategy for tax efficiency
• Assess risk and remediate internal controls deficiencies
• Improve the financial close and tax-related period-end processes
• Integrate post-merger finance and tax functions
• Provide IFRS operational readiness support