The DOH released updated guidance regarding Wage Parity compliance and reporting. As expected, starting 6/1/2022, the updated reporting forms must be completed and uploaded electronically through the state’s website. The publication also reiterated the penalties for noncompliance with wage parity.
There was additional guidance targeting the role MTLC’s will have regarding ensuring a provider is compliant with Wage Parity. Though the recent publications raised more questions than they answered, it’s clear that the goal of the DOH is to hold entities accountable for their adherence to the law. The penalties for disregarding or violating the law can include civil and criminal actions.
As the expectations of the DOH become more evident, agencies should prepare for all necessary processes, including a thorough review of their wage parity obligations.
M&A's Part 4: Evaluation
Implementation is an exhaustive process that begins when the offer has been accepted. This part now focuses on confirming or adjusting the assessment of the value of the company. A detailed examination and analysis of all aspects of the company’s operations are in order. This would include but not be limited to:
- Assets and liabilities
- Financial metrics
- Human Resources
Evaluation is the process of identifying if goals are met and whether processes and systems need to be changed or eliminated. This may include the elimination or addition of staff, procedures, contracts, and systems. Utilizing your company’s expertise in streamlining processes and increasing operational efficiencies to improve your company’s outcome and have a successful transaction are imperative. After you evaluate the success of the merger or acquisition, you can then apply your expertise and the same processes we have outlined on this blog using an acquisition strategy. If you would like to learn more about buying or selling your agency, use the link below to request a Free Consultation