ASC 606 – revenue recognition affects all entities that enter into contracts with customers to transfer goods or services for the transfer of nonfinancial assets. Healthcare providers are no exception. This four-part webinar series will help your healthcare organization better understand the objectives and requirements of ASC 606 and will prepare you for the implementation and next steps of the new standard.
Upcoming webinars in this series
April 6, 2017 | Noon ET / 11 a.m. CT
ASC 606 allows organizations to use a portfolio approach as a practical expedient to account for patient contracts as a collective group. This webinar will focus on the following,
- What constitutes a portfolio under the guidance of the new revenue standard
- How this can be applied to your organization
- Considerations for various self-pay portfolios
This webinar is relevant for all providers who anticipate using the portfolio approach.
May 17, 2017 | Noon ET / 11 a.m. CT
The adoption of ASC 606 has implementation issues that are specific to continuing care retirement communities (CCRC) or life care providers. This webinar will discuss,
- Implementation issues, including accounting for monthly fees and nonrefundable fees under different contract types
- Financing component considerations for refundable and nonrefundable entrance fees
- The impact this will have on the obligation to provide future services and use of facilities
- Contract acquisition costs
This webinar is relevant for CCRC providers.
Previous webinars in this series
Step one of ASC 606 requires determination of whether or not there is a contract; step three is then determining the transaction price. This webinar discusses potential implementation issues for steps one and three related to self-pay patients, including uninsured patients and self-pay balances arising from co-pays and deductibles.
Understand a general overview of ASC 606 and its impact for healthcare providers.