BTerrell Group Blog

Dallas-based solutions provider sees 50 percent growth in its first year following the introduction of Workforce Go! HRMS integration built for Intacct users

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The healthcare industry is feeling the impact from a widespread shakeup due to new legislation, changing business models, and increasing costs.  These and other powerful industry disruptions are creating a pressure-filled situation that is fueling the need for big changes, which is causing many healthcare systems to look to technology for solutions.  According to “IT Outsourcing (ITO) in the Healthcare Payer Industry – Annual Report 2015: Go-to-Market Strategy for Healthcare IT,” the global healthcare ITO marketplace, including both payer and provider, is expected to grow as much as 12% between 2014-2020 in response to this marketplace disruption.

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Businesses have had several years to get to know the ins and outs of Affordable Care Act (ACA) reporting – although you aren’t alone if you still aren’t ready for the pending deadlines given regular updates on the act itself.  The required IRS forms are available, but the data required for them can be confusing and complicated to gather, especially with disparate business systems.  Is your business as ready as you think it is? 

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Many employers are breathing a sigh of relief with the great news that there are a few extensions for the Affordable Care Act (ACA) reporting requirements.  According to “IRS Extends Deadlines for Health Plan Information Reporting Under the ACA,” posted on NatLawReview.com, insurers, self-insured employers, and applicable large employers have an additional two months to prepare and deliver ACA reports to employees and three months to transmit those filings to the IRS for tax year 2015.  Specifically, the IRS Forms 1095-C that were to be delivered to employees by February 1, 2016 have a new deadline of March 31, 2016 (the same grace was given to carriers for sending Form 1095-B, by the way).  The ACA reports that are to be submitted to the IRS (Forms 1094-C by employers and Form 1094-B by carriers/self-insured employers) are now due on May 31, 2016 for paper filings and June 30, 2016 for electronic filings.

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Robert Reid, CEO of Intacct recently participated in the Expert Interview Series hosted by Josh Bland.  As discussed in “Technology Advice Expert Interview with Rob Reid,” Reid shared his thoughts on the importance of reliable, accurate financial data, the cloud, and why Intacct is targeting the mid-market.  Reid suggests that today’s best-in-class enterprise resource planning (ERP) solutions, including Intacct, are far easier to use, offer time-saving automations, and offer the operational data that is needed to gauge the health of your business, above and beyond traditional GAAP metrics.   In addition, these solutions offer a higher return on investment than other business technology.

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