The Let’s Talk Compliance partnership between PYA and Foley & Lardner continues with a new podcast in the Let’s Talk Compliance series. The podcast, “Health Care Organizations Take Note: Trends and Pitfalls in the Bond Market Compliance Space,” was posted on Sept. 4, 2024.
Jana Kolarik, a Foley Partner, and co-host Angie Caldwell, PYA Consulting Principal and Tampa Managing Principal, introduce the episode, featuring Heidi Jeffery, a Foley Partner in the Finance and Financial Institutions Practice Group, and Matt Stuart, PYA Audit Principal. Jeffery and Stuart present trends in the bond market and bond compliance pitfalls organizations should avoid.
During the COVID-19 pandemic, healthcare organizations that were in distress with bond covenants received a temporary reprieve with the CARES Act funds, Stuart explains. Now as the funding dissipates, they are again concerned with their debt covenant compliance.
Jeffery notes the trend of an increase in the cost of staffing and supplies, exacerbating the financial distress of many healthcare organizations.
They explain in today’s volatile bond market, a distressed healthcare organization should identify a robust and specialized internal and external team to manage bond issuance and ensure the board and management are fully engaged.
Pitfalls organizations should avoid include failing to develop a checklist of compliance covenants, not having a thorough bond covenant compliance review process, not updating the master trust indenture, and more.
The Let’s Talk Compliance podcast series is for healthcare leaders and compliance professionals, as well as providers, suppliers, vendors, and others in the healthcare industry. In each episode, a Foley & Lardner attorney and a PYA advisor discuss a trending compliance topic and address questions they hear most often from clients.
The podcast is part of Foley & Lardner’s Health Care Law Today series. Listeners can subscribe to both series on Apple Podcasts, Spotify, or their preferred podcast app. All episodes of Let’s Talk Compliance also can be found on the PYA website.
If you would like assistance with accounting or auditing questions, transaction due diligence, compliance program assessments, or any other matter related to compliance, regulatory requirements, strategy, or transactions, our executives would be happy to assist.
