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Future pension accounting changes — implications for hospitals
The prospect of pension accounting change on the horizon- coupled with rising pension costs, lower utilization rates, declining payment, and the convergence of sectors and organizations within the health industries- has created a perfect storm for hospitals and health systems, many of which are wondering if now is the time to make changes in their benefit plan strategies.
Whether following the guidelines of the Financial Accounting Standards Board (FASB) or the Government Accounting Standards Board (GASB), hospitals may face potentially significant changes in pension accounting requirements, which would affect their statement of operations and increase the time, effort, and cost to comply with periodic financial reporting requirements.
© 2011 Reprinted with permission from Healthcare Financial Management Association , Copyright 2011
Whether following the guidelines of the Financial Accounting Standards Board (FASB) or the Government Accounting Standards Board (GASB), hospitals may face potentially significant changes in pension accounting requirements, which would affect their statement of operations and increase the time, effort, and cost to comply with periodic financial reporting requirements.
© 2011 Reprinted with permission from Healthcare Financial Management Association , Copyright 2011
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