By Bruce H. Nearon, CPA and Reed D. Gelzer, MD, MPH
In 2023, U.S. healthcare spending reached $4.9 trillion, $14,570 per person, and 17.6 percent of GDP.[1] Publicly traded healthcare companies’ valuation of assets and liabilities are backed in part by transaction records of patient care services initiated and documented in EHRS. Knowledgeable accountants may conclude upon examination that EHRS have substantial departures from good internal control.[2],[3],[4]
Many CPAs may be unfamiliar with Electronic Health Records (EHR) and their impact on accounting, reporting, and auditing of healthcare entities’ financial statements. This article provides an initial understanding of potential deficiencies in EHR systems and the role of CPAs in assessing controls for improving the quality of financial reporting.
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