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February 1, 2016 marks the 50th anniversary of the Credit Management Company’s founding. CMC was started in a small office with a few employees in 1966. Five decades later, Credit Management Company is a trusted accounts receivables management company, with nearly 100 employees and clients all over the country.
With the New Year fast approaching, your hospital is undoubtedly preparing for the Internal Revenue Service’s new 501(r) statute. The statute affects nonprofit hospitals that are covered by 501(c)(3) and includes community needs assessments, limitations on charges and written policies and procedures. Organizations that fail to meet the requirements outlined by the IRS may have their tax-exempt status revoked. This post will focus on the impact on your billing and collection process and is for general reference purposes only.