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At least 19 recordsLinked to original sources
PubMed1990

Hospitals must pay property taxes on leased equipment unless a contract states otherwise.

A not-for-profit hospital has decided to rent medical and office equipment instead of purchasing the items. Under the terms of the lease, the hospital is required to reimburse the supplier for any property taxes on the equipment covered by the lease. The lessor has billed the hospital for personal property taxes assessed by the county government. The hospital materials manager is concerned that the hospital isn't able to claim its usual tax exemption since it didn't purchase the equipment and can't claim to be the owner of it. In this dialogue, Dr. Decker discusses this problem and offers some possible solutions.

Equipment and Supplies, Hospital↗
PubMed1984

Unrelated business income tax: an update.

To meet spiraling costs, tax-exempt hospitals increasingly are operating businesses unrelated to direct patient care. Knowing which activities may be open to challenge by the Internal Revenue Service (IRS) is essential to avoid the unrelated business income (UBI) tax. Three criteria must be met for an activity to be taxable as UBI: It must constitute a trade or business; It must be regularly carried on; and It must be unrelated to the organization's exempt purpose. The Internal Revenue Code and IRS rulings clearly exclude the following areas from UBI taxation: Activities performed by unpaid volunteers (e.g., hospital auxiliaries' fund-raising dinners and bazaars and the operation of thrift stores); Operations conducted for the convenience of the organization's members, students, patients, or employees (e.g., gift shops, cafeterias, coffee shops, parking lots, lounges, vending machines, pharmaceutical sales to inpatients and emergency room outpatients, and research activities for students' benefit; The sale of merchandise that has been received by gift (e.g., flea markets, baked goods sales, book sales, and rummage sales); Investment income such as dividends, interest, annuities, royalties, certain rents, and capital gains from the sale of investment assets; Gifts or contributions made directly to the facility; and Bingo games that are conducted commercially. Areas which may be subject to UBI taxation, or in which there have been controversial or contradictory court rulings, include: Pharmaceutical sales to the public or private physicians' patients; and Laboratory services provided to private physicians for treating their patients. IRS private letter rulings, though not precedential, have excluded from UBI taxation the x-ray income from a hospital's branch facility and rental income from property leased for use as a clinic or medical office building that is substantially related to the hospital's exempt functions. Private letter rulings have subjected to UBI taxation the income for a professional standards review organization's private review activities and debt-financed income from property that is not substantially related to the organization's exempt purpose.

Commerce↗
PubMed1993

Property issues in practice.

This article discusses legal issues relating to property ownership. The primary focus is on land use control laws such as zoning ordinances. Cases involving legal questions over the location and operation of veterinary clinics are discussed. An explanation of how land use contracts work and how veterinarians may encounter them is included. The application of nuisance law is reviewed, and representative cases are discussed. Also included is a discussion of property liability issues and what veterinarians can do to avoid litigation.

Animals↗
PubMed1993

Outsourcing data processing: planning for the disentanglement.

Outsourcing data processing operations may be considered a conventional acquisition transaction between a customer and supplier. The most distinctive feature of a DP outsourcing contract is that it involves complex issues relating to computer software and technology and, frequently, intense issues relating to employees. But, one must do more in order to provide for preservation of the integrity (and, therefore, the value) of the data center. The contract must include not just the sale of a facility to a supplier who will take over the operations, but also terms for reconveying the facility at a future date. Getting out of the arrangement can be very complex. Disentanglement can be made less complex however, if the customer and the supplier negotiate all or part of the disentanglement procedures during the original contract proposal. Know ahead of time the possible scenarios for when disentanglement may take place and know what to do during the contract negotiations and during the length of the agreement to keep track of each other's properties. Know also the risks involved in outsourcing DP operations, such as what happens when the supplier's business fails. Having the supplier set up a separate profit entity for your contracted business or using a lien on the data center properties may help avoid loss if such failure occurs.

Commerce↗
PubMed1992

REITs scramble to divest troubled tenants.

The decision by Health and Rehabilitation Properties Trust to trim its investments in rehabilitation provider New Medico Associates is another example of how real estate investment trusts are coping with shaky tenants. While most REITs are diversified and considered less at risk of losing investors' confidence, some have been penalized for holding troubled psych and rehab facilities.

Capital Financing↗
PubMed2001

Strategic real-estate planning can generate revenue.

Many healthcare organizations treat their real estate as liabilities rather than assets and overlook opportunities to generate significant additional revenue and reduce costs. An Ernst & Young Study found that to maximize the return on investment in their real-estate holdings, healthcare organizations need to include property management in their strategic plan, manage construction and expansion effectively, adapt and reuse their facilities where possible, and pursue innovative real-estate strategies. Managing real-estate assets effectively can free up capital to use for other core business needs.

Capital Expenditures↗
PubMed2004

Losing its exemption. Mass. appeals court rules that not-for-profit, hospital-owned clinic is liable for property taxes. Hospitals wonder who's next.

Not-for-profit hospital-owned physician groups may have to pay property taxes, according to a ruling from the Massachusetts Appeals Court. With federal and state officials showing interest in the tax-exempt status of not-for-profit hospitals, the case involving Sturdy Memorial Hospital could have national implications. "This is an issue coming out from under the covers," says healthcare lawyer David Hilgers, left.

Ambulatory Care Facilities↗
PubMed1995

Introduction to property management.

This document provides an overview of professional real estate management techniques that can be applied to the operations of a health care organization's ancillary outpatient facilities, including medical office buildings. These techniques consolidate and focus real estate operations into a cohesive management structure, permitting the organization to identify areas of cost savings and cost control, identify opportunities for revenue enhancement and providing a higher level of service to physicians and other tenants. The concepts, principles, and techniques presented here can be applied to small, stand-alone hospitals, hospitals that are merging, as well as large multihospital organizations and integrated systems.

Delivery of Health Care, Integrated↗
PubMed2000

Adoption of alternative financing strategies to increase the diffusion of picture archiving and communication systems into the radiology marketplace.

The objective of the study was to evaluate current marketplace conditions and strategies employed by major picture archiving and communication systems (PACS) vendors in the creation of alternative financing strategies, to enhance the diffusion of filmless imaging. Data were collected from the major PACS vendors in the forms of survey questionnaires and review of existing leases. Topics evaluated in the survey included current financing options available, foreseeable changes in PACS financing, role of third-party financiers, and creation of risk-sharing arrangements. Generic leases were also reviewed evaluating the presence or absence of several key variables including technology obsolescence protection, hardware/software upgrades, end-of-term options, determination of fair market value, functionality/acceptance testing, uptime guarantees, and workflow management consulting. Eight of the 10 PACS vendors surveyed participated in the data collection. The vast majority of current PACS implementations (60% to 90%) occur through direct purchase, with conventional leasing (operating or capital) accounting for only 5% to 30% of PACS installations. The majority of respondents view fee-for-lease arrangements and other forms of risk sharing as increasing importance for future PACS financing. The specific targets for such risk-sharing arrangements consist of small hospital and privately owned imaging centers. Leases currently offered range in duration from 3 to 5 years and frequently offer technology obsolescence protection with upgrades, multiple end-of-term options, and some form of acceptance testing. A number of important variables frequently omitted from leases include uptime guarantees, flexibility in changing financing or vendors, and incorporation of expected productivity/operational efficiency gains. As vendors strive to increase the penetration of PACS into the radiology marketplace, there will be a shift from conventional financing (loan or purchase) to leasing. Fee-for-use leasing and other forms of risk sharing have the greatest potential in smaller hospitals, which do not have the financial resources to pursue conventional financing options. Potential PACS customers must be cautious when entering into these alternative financing strategies, to ensure that appropriate safeguards are incorporated, in order to minimize downside risk.

Cost Sharing↗