The New Revenue Recognition Standard: Five Questions Healthcare Organizations Should Be Asking Now

Rules for recognizing revenue from contracts with customers are changing, and a new Financial Accounting Standards Board standard is expected to become effective within the next two years. The changes will affect every healthcare organization in the United States, and healthcare financial leaders should begin now to understand the rules and make plans for adoption. This article suggests five questions leaders can answer to lay the groundwork for a seamless transition when the new standard is fully implemented.