{"id":2813,"date":"2018-10-27T00:05:16","date_gmt":"2018-10-27T00:05:16","guid":{"rendered":"http:\/\/www.ltccs.com\/?p=2813"},"modified":"2022-04-18T23:26:03","modified_gmt":"2022-04-18T23:26:03","slug":"what-is-chow","status":"publish","type":"post","link":"https:\/\/ltcally.com\/articles\/what-is-chow\/","title":{"rendered":"What is CHOW?"},"content":{"rendered":"<h1 style=\"text-align: center;\"><strong>What is CHOW?<\/strong><\/h1>\n<p>&nbsp;<\/p>\n<div class=\"container\" style=\"text-align: center;\"><iframe loading=\"lazy\" class=\"video\" src=\"https:\/\/www.youtube.com\/embed\/EYDG6OBdzGw\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/div>\n<p>&nbsp;<\/p>\n<p><strong>Transcript:<\/strong><\/p>\n<p><em>Hey everyone, you remember Harold.<\/em><\/p>\n<p><em>What&#8217;s up?<\/em><\/p>\n<p><em>What&#8217;s up, Harold? I&#8217;m so happy to have you back here. Everybody&#8217;s been asking to have Harold back, so we got you back.<\/em> <\/p>\n<p><em>We&#8217;re not going to talk rapping today, we&#8217;re going to talk business. You want to talk some business?<\/em> <\/p>\n<p><em>Absolutely. What do you want to talk about?<\/em><\/p>\n<p><em>I want to talk about CHOWS.<\/em> <\/p>\n<p><em>CHOWS?<\/em> <\/p>\n<p><em>Yeah. Could we talk about that?<\/em><\/p>\n<p><em>CHOWS?<\/em><\/p>\n<p><em>Do you know what CHOW means?<\/em><\/p>\n<p><em>Um&#8230;a fine Chinese restaurant?<\/em> <\/p>\n<p><em>OK, in the healthcare realm, CHOW, does that mean anything to you?<\/em> <\/p>\n<p><em>Nothing.<\/em> <\/p>\n<p><em>Let me tell you, CHOW stands for change of ownership.<\/em><\/p>\n<p><em>Stop right there. I&#8217;m sure it does.<\/em> <\/p>\n<p><em>No, you see how change, CHOW, change of ownership.<\/em> <\/p>\n<p><em>Shouldn&#8217;t that be COO? Or is that your title?<\/em> <\/p>\n<p><em>Oh, please.<\/em> <\/p>\n<p><em>Was that already taken?<\/em> <\/p>\n<p><em>Don&#8217;t start getting personal. Yeah, I guess COO would make sense.<\/em> <\/p>\n<p><em>Do they have a suggestion box? I could throw that in.<\/em> <\/p>\n<p><em>If they did, you should drop that in. I think that&#8217;s a good idea. But that&#8217;s what the industry calls it. When there&#8217;s a transaction going on and there&#8217;s a change of ownership, they&#8217;re going through a CHOW.<\/em> <\/p>\n<p><em>And what does that process entail?<\/em> <\/p>\n<p><em>It&#8217;s a very difficult process. It&#8217;s a lot of different pieces, mainly financial, that need to be done in order to make sure that every part of the transaction is set up for them to go live.<\/em><\/p>\n<p><em>Interesting. How do most operators\/owners maneuver through that process?<\/em> <\/p>\n<p><em>They usually would either choose to work with an attorney or they would actually try&#8230;<\/em> <\/p>\n<p><em>Attorneys?<\/em> <\/p>\n<p><em>Yeah, why?<\/em> <\/p>\n<p><em>And they pay the attorney legal fees through the financial paperwork?<\/em> <\/p>\n<p><em>Yeah, it doesn&#8217;t really make sense because they actually don&#8217;t handle a lot of the financial stuff anyway. I don&#8217;t know why. Some of them would try to wing it on their own and see if they can make those deadlines&#8230;.<\/em> <\/p>\n<p><em>Always trying to outsmart the system.<\/em> <\/p>\n<p><em>Yeah, I don&#8217;t know why people don&#8217;t realize there&#8217;s a solution out there.<\/em> <\/p>\n<p><em>Well, what do you suggest?<\/em> <\/p>\n<p><em>Well, you know at LTC we handle everything for a CHOW from A to Z.<\/em> <\/p>\n<p><em>Everything?<\/em> <\/p>\n<p><em>Everything, yeah.<\/em> <\/p>\n<p><em>Licensure?<\/em> <\/p>\n<p><em>Yeah, licensure. Of course we handle that.<\/em> <\/p>\n<p><em>A to Z&#8230;Medicare\/Medicaid Enrollment?<\/em> <\/p>\n<p><em>Yeah.<\/em> <\/p>\n<p><em>Managed Care Contracting?<\/em> <\/p>\n<p><em>You know that&#8217;s a big focus of ours, of course we do that.<\/em> <\/p>\n<p><em>Software setup?<\/em> <\/p>\n<p><em>Software setup.<\/em> <\/p>\n<p><em>Bank account structuring?<\/em> <\/p>\n<p><em>Bank account structuring. Come on, yeah. A to Z. I&#8217;m serious.<\/em> <\/p>\n<p><em>A to Z? What about the old AR that I inherit with my acquisition?<\/em> <\/p>\n<p><em>Do you know we have a team of specialists that focus on collecting outstanding AR and write offs when there was a change of ownership? Of course, this is something we&#8217;re very big about.<\/em> <\/p>\n<p><em>OK, time out. Is there anything you don&#8217;t handle? Is there a catch?<\/em><\/p>\n<p><em>What don&#8217;t we handle? We don&#8217;t change carpets when they&#8217;re getting replaced. <\/em><\/p>\n<p><em>I knew it! There&#8217;s a catch.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is CHOW? &nbsp; \ufeff\ufeff\ufeff &nbsp; Transcript: Hey everyone, you remember Harold. What&#8217;s up? What&#8217;s up, Harold? I&#8217;m so happy to have you back here. Everybody&#8217;s been asking to have Harold back, so we got you back. We&#8217;re not going to talk rapping today, we&#8217;re going to talk business. You want to talk some business? <a href=\"https:\/\/ltcally.com\/articles\/what-is-chow\/\" class=\"more-link\">&#8230;<span class=\"screen-reader-text\">  What is CHOW?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[22],"tags":[26,28],"class_list":["post-2813","post","type-post","status-publish","format-standard","hentry","category-articles","tag-change-of-ownerships","tag-growth-advisory-services"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is CHOW? | Articles | LTC Ally<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ltcally.com\/articles\/what-is-chow\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is CHOW? | Articles | LTC Ally\" \/>\n<meta property=\"og:description\" content=\"What is CHOW? &nbsp; \ufeff\ufeff\ufeff &nbsp; Transcript: Hey everyone, you remember Harold. 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