Managing by the Numbers
nbsp One of my prior articles cautioned readers on the use of overhead rates as a financial indicator of practice performance. The point I want to make now is that... Read More >
Business Entertainment and Meals Under the New Tax Law – What Physicians Need to Know
nbsp Tax reform has had a significant impact on the tax deductions you can now claim for business entertainment and meals. The new tax law also eliminated business deductions for... Read More >
7 Financial Planning Issues New Physicians Must Grapple With – From the White Coast Investor
nbsp Sometimes, smart people simply aren t aware of the financial issues they need to take care of. New physicians either need to do their own financial planning, or pay... Read More >
The Medical Billing Team is The Center of Your Business
nbsp nbsp P.J. Cloud-Moulds Physician s Practice Blog Over the past three years, I ve really managed to shift who makes policies, enforces policies, and understand why policies are made.... Read More >
Physician/Doctor’s dirty coats
nbsp Most patients prefer their doctor to wear a traditional white coat, a garment seen as a reassuring symbol of medical know-how. But new research has found that healthcare workers... Read More >
E/M Auditing 101: Tips from an Auditor – A Free Webinar
nbsp Even with the implementation of the Electronic Health Record EHR EMR and their templates to click and paste your way to a particular level of E M service, auditors... Read More >
Medicare Shared Savings Program: Do You Plan to Apply to be an ACO?
nbsp CMS announced Notice of Intent to Apply NOIA and application cycle dates for a January , , start date for the Medicare Shared Savings Program Pathways to Success Opens... Read More >
Physician Disability Payments and Sub S distributions
Question If a corporation pays the disability premiums for a doctor and those premiums are recorded as Sub S distributions, will they be considered to be paid by the doctor... Read More >
Updated Physician Practice Acquisition Study: Changes in Physician Employment (2012-2018)
Physicians Leaving Private Practices for Hospitals A Growing Trend Physicians are increasingly leaving private practices to join hospital networks, states a new report from the Physicians Advocacy Institute. From July... Read More >
Leadership Tips for Physician Practice Administrators and/or Managing Partners
nbsp The following qualities are a MUST have for the leadership in any organization, team, administrator or managing partner. The effect of the whole, or sole leader MUST be this... Read More >
Handling Unhappy (or Irate) Patients
nbsp Stay calm They might be angry, but they are angry at what s happened to them, not at you. Your frame of mind and demeanor can greatly influence the... Read More >
CMS Releases All-Payer Guidance – CMS Quality Payment Program
nbsp CMS is collecting information and documentation to determine whether payment arrangements qualify as Other Payer Advanced Alternative Payment Models APMs under the Quality Payment Program QPP . Payers with... Read More >
Practice management (PM) system tools to improve practice efficiencies
nbsp Administrative duties are a necessary evil every practice deals with. Not only do tasks like coding and documentation take valuable time away from treating patients, they can lead to... Read More >
Diagnostic medical imaging services company pays $3,000,000 to settle breach exposing over 300,000 patients’ protected health information
nbsp Touchstone Medical Imaging Touchstone has agreed to pay , , to the Office for Civil Rights OCR at the U.S. Department of Health and Human Services HHS , and... Read More >
If you’re going to make it, Make sure you keep it
nbsp As a CPA and healthcare consultant, one of the things that continues to concerns me is employee theft within a medical practice or any other healthcare entity for that... Read More >
HHS Announces Final Conscience Rule Protecting Health Care Entities and Individuals
nbsp The U.S. Department of Health and Human Services HHS Office for Civil Rights OCR announced today the issuance of the final conscience rule that protects individuals and health care... Read More >
Stay involved in the financial side of your practice to prevent fraud
nbsp To defend against fraud, physicians must get involved in the day-to-day operations of the office, at least in a limited way. To protect yourself, put the following financial controls... Read More >
Physician practice metrics to benchmark and monitor
nbsp Need a complete list of non-accounting metrics to benchmark and monitor here you go If any others please send to me at reedt rtacpa.com Gross Collection Percentage Net Collection... Read More >
More Doctors Choosing Hospitals over Private Practices
April , By Ashley Herzog Published by The Heartland Institute From July to January , hospitals in the United States acquired approximately , private medical practices. Over the same period,... Read More >
Does your physician practice have a “patient-friendly” collection process?
nbsp When patients don t pay their medical bills, maintaining a profitable medical practice can be extremely difficult. In case you were wondering, the message is clear patients want to... Read More >
PECOS for Physicians and NPPs — Revised
nbsp A revised The Provider Enrollment, Chain, and Ownership System PECOS for Physicians and Non-Physician Practitioners NPPs Medicare Learning Network Booklet is available. Learn how to Register in the system... Read More >
From the AMA – How to face 3 common private practice hassles
nbsp Staff News Writer American Medical Association Full Bio Working in private practice hardly precludes hassles, but it does give physicians choices when fighting them off. Find out what can... Read More >
A few tips for payer negotiations by physician practices
nbsp Think of all the payer contracts your practice has to manage. Although they cover many of the same procedures, each payer contract contains a unique set of rules and... Read More >
What is a Medicare Comparative Billing Report (CBR)?
nbsp CBRs are educational tools used to provide insight into billing trends. The intent is to assist healthcare providers when performing self-audits of both procedures and billing practices. The Centers... Read More >
Are you nearing retirement?
Retirement is coming, are you ready? Many people nearing retirement do not confront the financial issues until it s too late in the game. The bad news is financial planning... Read More >
Taxpayers unable to pay should still file on time
nbsp With the April tax filing due date just a few days away, taxpayers should remember to both file and pay any taxes they owe by the deadine. Taxpayers who... Read More >
Physician merger team and practice administrators
nbsp Sometimes the question is raised Should the administrators or office managers serve on the merger committee or merger team? My experience shows that it is not advisable to place... Read More >
Business entertainment and business meals under the new tax law – What physicians need to know
Tax reform has had a significant impact on the tax deductions you can now claim for business entertainment and meals. The new tax law also eliminated business deductions for entertainment.... Read More >
Another physician practice benchmark metric – net collection rates
Attaining the highest reimbursement possible is essential to maintaining a healthy revenue stream. But sometimes, due to unforeseen circumstances, you don t always receive the payment you expect. As a... Read More >
Is your physician practice tracking average reimbursement per encounter?
As mentioned in the last few blog posts, quality metrics provide the indicators physicians need to measure how their practice is performing. In this post I take a look at... Read More >
Subscribe to my blog
Categories
Accounting and Tax Services Litigation Support Managed Care Consulting Managed Care Contract Negotiations Medical Practice and Healthcare Entity Valuation Medical Practice Assessment Medical Practice Brokerage Medical Practice Embezzlement Consulting Medical Practice Management Medical Practice Merger Advice Medical Strategic Planning Newsletter Personal Financial Planning Oversight Physician Compensation Models Physician Compliance Physician Financial Management Services Retirement UncategorizedAbout Reed Tinsley, CPA
As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read More >
