Happy Holidays from Pharma Dollars and Sense

We're taking some much needed time off from our coverage of Pharma to celebrate the season with our loved ones. We want to sincerely thank you for your readership, your comments and your participation. Here are our highest rated articles from 2009:

• Pharma Dollars and Sense: Will principle based accounting improve financial reporting?
• Pharma Dollars and Sense: IFRS versus US GAAP
• Pharma Dollars and Sense: Canada to switch to IFRS by 2011

We'll be back in January with more coverage.

We wish you Happy Holidays!

Complimentary Webinar: Assessing the Impact of Healthcare Reform on the Business of Medicare: An Interview with Gorman Health Group

Space is limited.
Reserve your Webinar seat now at:
https://www1.gotomeeting.com/register/504426600
Mention Priority code: P1507W1BLOG

John Gorman, CEO, Gorman Health Group, along with Jean LeMasurier, Senior Vice President, Public Policy, Gorman Health Group will examine the current state of US healthcare reform, and its short and long term impact on Medicare plans including the financial, operational and strategic implications of the proposed bills.

Healthcare Investment & Transaction Summit, New York City - Early Bird Ends This Friday, December 11

IIR’s Healthcare Investment & Transaction Summit (HITS), now taking place on January 28-29, 2010 in New York City, is the deal-making industry event of the year! Join us today and be one of the many to benefit from the year’s most prestigious healthcare deal-making event. HITS brings together the industry’s financial giants, with buyers and sellers, and the brokers who connect them and the bankers to subsidize their deals. Deals are happening in healthcare, and those with creativity, patience, and capital are benefiting from the current economy. There is no doubt the time to act is upon us, and the place to hit the deal out of the park is HITS 2010!

Gain access to industry thought leaders, including:

AMBIENT HEALTHCARE INDIANA ORTHOPAEDIC HOSPITAL
AMERICAN HOSPICE INGENIX CONSULTING (United Healthcare)
APAX PARTNERS JRG VENTURES
BLUE CROSS BLUE SHIELD OF LINDEN LLC
CAMDEN PARTNERS MONROE CARELL JR. CHILDREN'S HOSPITAL
CAPITAL BLUECROSS NASHVILLE HEALTH CARE COUNCIL
CMS NATIONAL RENAL ALLIANCE
CITI ODYSSEY HEALTHCARE
DEUTSCHE BANK SECURITIES PASSPORT HEALTH COMMUNICATIONS, INC.
EXPERIAN PROSKAUER ROSE LLP
FAULTLINE VENTURES REHABCARE
GE CAPITAL RIVERSIDE PARTNERS
GENERAL ATLANTIC LLC SHATTUCK HAMMOND
GENERAL ATLANTIC PARTNERS SIGNATURE HOSPITAL CORPORATION
GOLDMAN SACHS SPECTRUM EQUITY INVESTORS
GREAT HILL PARTNERS STROUDWATER ASSOCIATES
HEALTH EVOLUTION PARTNERS BLUE CROSS BLUE SHIELD OF TENNESSEE (BCBST)
HOSPICE COMPASSUS THE CARLYLE GROUP
HOULIHAN LOKEY

Download the brochure and take a look at the all-star speaker list and agenda featuring this year’s most prominent industry issues! Visit our website for further program details at www.healthcaredealsummit.com.

Plus, be sure to register by this Friday, December 11, to save $200 off the standard rate!

We hope to see you in January in New York City!

Complimentary Webinar: Assessing the Impact of Healthcare Reform on the Business of Medicare: An Interview with Gorman Health Group

December 15, 2009

2-3PM EST

Space is limited.
Reserve your Webinar seat now at:
https://www1.gotomeeting.com/register/504426600

Mention Priority Code: P1507W1BLOG

John Gorman, CEO, Gorman Health Group, along with Jean LeMasurier, Senior Vice President, Public Policy, Gorman Health Group will examine the current state of US healthcare reform, and its short and long term impact on Medicare plans including the financial, operational and strategic implications of the proposed bills.

About the Speakers:

Jean D. LeMasurier
Senior Vice President for Public Policy
Gorman Health Group

Jean LeMasurier joined Gorman Health Group after a 30 year career with the Centers for Medicare and Medicaid Services (CMS). Jean provides strategic planning and consulting services to Medicare Advantage Health Plans, Medicare Part D Prescription Drug Plans, drug companies and employers on programs under the Medicare Modernization Act.
Her areas of focus include health policy and health care reform and advising plans and employers on retiree options. Engagements include analysis of Medicare market opportunities, strategic advice on CMS legislative and regulatory requirements, audits and gap analyses to assure implementation of regulatory compliant programs.
Jean is also engaged in policy analysis, public speaking and educational and training activities.
As a senior CMS career official, Jean was responsible for the leading the $40 billion Medicare Managed care programs for many years, including serving as the Director of Policy and the Acting Director/Deputy Director of Operations and Regulatory Oversight. Jean also served as a Senior Advisor in the Employer Operations and Policy Group which implemented the employer provisions of the Medicare Modernization Act.
Jean also worked as a professional staff member on the Senate Finance Subcommittee on Health.

John K. Gorman
Chief Executive Officer

John Gorman is CEO of Gorman Health Group, a company he founded in 1996 (under its predecessor name, Managed Care Compliance Solutions) to provide Medicare regulatory compliance advisory services to healthcare payers. Under John’s leadership, Gorman Health Group has since emerged to beco

After registering you will receive a confirmation email containing information about joining the Webinar.

System Requirements
PC-based attendees
Required: Windows® 2000, XP Home, XP Pro, 2003 Server, Vista

Macintosh®-based attendees
Required: Mac OS® X 10.4 (Tiger®) or newer

Health care reform: Private Insurers paying for federal lobbying

A recent article written by Zenei Cortez at the California Progress Report looks at how the current finances in the health care industry are being geared towards federal lobbying. In fact, the article state that the nation's top 13 private health insurers and their trade group, America's Health Insurance Plans (AHIP) spent nearly $23 million in federal lobbying to tilt reform in their direction. Cortez believes that the insurance industry is spending money that will go on to harm the American public in terms of higher profit for the private insurance companies while affecting the quality of care Americans receive due to the prices of health insurance. Do you agree with this article?

What do you foresee happening to the financial aspects of healthcare reform in terms of both the insured and the healthcare companies?

Adopting IFRS Key to global financial success

According to the Associated Press, federal regulators stated Monday that it's critical for the United States along with other countries to adopt one international accounting standard. By all countries having the same policies, we would better avoid another economic crisis. Both those on Wall Street and in the Accounting industry agree with this statement. US companies have the option to begin adopting the new accounting standards next year. Read the full article here.

Name Change for FAS 157

The Wall Street Journal Blog recently wrote about the name change for FAS 157. It will now be known as Topic 820. This rule currently requires companies mark their assets to market every quarter. With the old rule, the assets were held at cost. Read more about the name and rule change here.

Indiana Government converting to centralized accounting system

According to Fox 28 of South Bend, Indiana, the Hoosier government will be converting to one single accounting system. The complete transition will take place by September 16. This has been in the works for years, and over 3,000 state employees have been trained on the new system. Read the full article here.

What does Kroeker’s appointment mean for IFRS?

On Tuesday, the Securities and Exchange Commission appointed James L. Kroeker the permanent chief accountant at the agency. Many in the industry thought SEC’s Mary Schapiro would select someone with a little more resistance to IFRS. How will the industry respond to a big four Chief Accountant? And most importantly, what does Kroeker’s appointment mean for the timelines surrounding IFRS adoption?

You have an opportunity right around the corner to hear from the industry’s brightest minds regarding IFRS, mark-to-market, fair market value, and much more at this year's Pharma Financial Forum. But you need to act now and register by Friday, August 28, so you can save $200! See the brochure here.

James L. Kroeker becomes SEC's permanent cheif accountant

The Wall Street Journal stated that James L. Kroeker will become the permanent chief accountant for the Securities and Exchange Commission. He has been serving as the chief accountant since January. He will be overseeing accounting interpretations, professional practice issues and international accounting matters.

How do you think Kroeker's new position will affect the United States and it's adoption of IFRS?

Controlling your risk when converting to IFRS

The Journal Of Accountancy recently published a post that looks at how companies can take precautions when it comes to converting from GAAP to IFRS. One of the key areas that will be affected during the conversion will be IT, as many of the systems will be changing due to the new accounting methods. Read the full article here.

FASB's changes on disclosing private information

According to CFO, there is debate as to how companies are handling lawsuits and their accounting rules and disclosures. Under the new rules of FASB, companies would not have to disclose any information that they feel is prejudicial or confidential. This would include not disclosing any information about the money they pay to investors to settle disagreements.

Last September, when the board decided companies would have at least another year before having to comply with the new rules, it agreed to collect more feedback by asking companies to do sample runs of its first proposal and the alternative version currently being crafted. However, only a few companies have shown interest in participating.

Read the full article here.

Adopting IFRS slowing

In an article recently at Reuters India, they look at how the current global economy is just one of the latest factors holding up the adoption of IFRS globally. Due to the credit crisis, many countries have seen the need to adopt a more consistent and transparent accounting system. However, with the US failing to provide a date as to when they'll be adopting the system. The G20 Finance ministers are meeting in London next month, which many hope will be the key to getting the adoptoin of IFRS on track. Read the full article here.

Fair market value rules may expand

According to Bloomberg, last week, FASB decided to consider expanding fair market value rules. Accountants could end up expanding mark-to-market across all financial assets. Read the full article here.

New network for accountants

A new social network for accountants has been launched. Hub Street is a social network that brings together accountants, lawyers, and lenders to create connections in the industries. It also has a unique aspect for social networks.

Fox Coaching Associates CEO Nancy Fox explains, “Let’s face it – it’s not what you know, but who you know. Unlike most online and face-to-face networks, HubStreet takes the work out of networking for lawyers, accountants and lenders by bringing them together with the right quality connections — professionals and experts that are relevant to their business.”

Read the full article here.