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New Grant Rules Put Recipients Under the Microscope

Client Alert | 1 min read | 01.15.14

On December 26, OMB published new guidance designed to "streamline" the Federal government's guidance on Administrative Requirements, Cost Principles, and Audit Requirements for Federal grants, an effort led by the cross-agency Council on Financial Assistance Reform and OMB. The new guidance is intended in part to "strengthen oversight over Federal funds to reduce risks of waste, fraud, and abuse" and "increase the efficiency and effectiveness of Federal awards to ensure best use of the more than $500 billion expended annually," an effort which is likely to mean increased government scrutiny over institutions of higher education, nonprofit organizations, and other grant recipients.


Insights

Client Alert | 6 min read | 03.26.24

California Office of Health Care Affordability Notice Requirement for Material Change Transactions Closing on or After April 1, 2024

Starting next week, on April 1st, health care entities in California closing “material change transactions” will be required to notify California’s new Office of Health Care Affordability (“OHCA”) and potentially undergo an extensive review process prior to closing. The new review process will impact a broad range of providers, payers, delivery systems, and pharmacy benefit managers with either a current California footprint or a plan to expand into the California market. While health care service plans in California are already subject to an extensive transaction approval process by the Department of Managed Health Care, other health care entities in California have not been required to file notices of transactions historically, and so the notice requirement will have a significant impact on how health care entities need to structure and close deals in California, and the timing on which closing is permitted to occur....