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. Our 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.
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ASC 606 allows organizations to use a portfolio approach as a practical expedient to account for patient contracts as a collective group. Learn more in this webinar focused on healthcare providers.
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.