Physician reimbursement analysis
Have you checked your managed care reimbursement lately? If not, you may be losing revenues Please do the following Prepare a spreadsheet for your top managed care payers. On this... Read More >
Employers Cannot Reimburse Individual Health Care Policies Pretax Basis
nbsp In recently posted employer healthcare arrangement FAQs, the IRS warns employers about using employer payment plans to reimburse employees on a pretax basis for health insurance premiums the employee... Read More >
Another reminder about physician practice embezzlement
I was working on an independent embezzlement review that resulted from a medical practice employee going to the bank and trying to cash SEVEN insurance checks. Luckily the bank called... Read More >
Important financial planning issues for physicians
Have you recently considered looked at these important financial planning issues? Investment Strategies. Since the passage of the American Taxpayer Relief Act and the enactment of the net investment income... Read More >
Some more ideas for improving front desk collections
nbsp What has become clearer and clearer to the healthcare community is that point of service collection must be included in the metrics for a practice to achieve financial success.... Read More >
Physician practice accounting records running behind
nbsp I constantly see physician practices especially the smaller ones continually running behind on their monthly bookkeeping and practice management system close out. I wonder sometimes if physicians really care... Read More >
Physician sentenced for MRI center kickbacks
New Jersey Doctor Sentenced for Taking Cash Kickbacks in Diagnostic Referral Scheme A doctor practicing internal medicine in Orange, N.J., was sentenced last week to five months in prison and... Read More >
Are You Aware of Medicare Penalties of not Participating in Meaningful Use
nbsp There are incentives to participating in MU as many physicians are aware. There are also penalties for not participating as well. The question is Can you afford the long... Read More >
EHR/EMR Implementation Issues You Need to be Aware of
nbsp There are so many challenges that come from any new organizational change. Implementation of a new EHR EMR has many diverse challenges. Here are what I consider three organizational... Read More >
EHR/EMR implementation – Take the time to do it right
nbsp The decision to implement an EHR EMR should not be looked at as a sprint to get just the incentive money. It should be looked at like a marathon.... Read More >
Contract’s Language is as Important as the Contracted Rates
The provisions of a managed care contract are nearly as important as the rates the contract pays. For example, one clause in managed care contracts requires that all referrals to... Read More >
Government now going after physicians for Stark violations
Two Ohio Valley health care providers will pay a million dollar penalty after violating Federal law by submitting false claims to Medicare. United States Attorney William J. Ihlenfeld, II, announced... Read More >
Payment Models for ACOs
nbsp An ACO may use a range of payment models e.g., fee for service with or without shared savings arrangements, capitation for specific defined populations e.g., diabetes , or global... Read More >
Creating a pro forma for a new ancillary or service line
Mastering Healthcare Financial Decisions with Pro Forma Analysis The basic economic definition of a pro forma describes a presentation of data that reflects an as if basis. Many in the... Read More >
Don’t forget best practices for your physician practice
There is a reason there are provider practices called best practices. They fall into a category of healthcare practices that are determined to not only strive for that excellence in... Read More >
Questions to Ask Before Signing an EMR/EHR Agreement
nbsp . Have you defined your needs? You will need to complete a needs assessment or an evaluation of what exact goals you will need the EHR product to meet.... Read More >
Hospital self-disclosure results in 8.5 million dollar of settlement
ProMedica Memorial Hospital in Fremont will pay . million to settle claims that it engaged in improper financial relationships with referring physicians, according to a news release from the U.S.... Read More >
AMA Issues Grace Period Guide to Assist Physicians
nbsp The American Medical Association AMA announced new resources to guide physicians on navigating a little known rule in the Affordable Care Act ACA that could pose a significant financial... Read More >
Implement Credit Card on File Program to Increase Collections, Reduce A/R
nbsp We know patients are bearing more of the financial burden for healthcare, particularly in the form of High Deductible Health Plans HDHPs , so it falls to the provider... Read More >
The ABCs of Providing the Annual Wellness Visit Educational Tool โ Revised
The Quick Reference Information The ABCs of Providing the Annual Wellness Visit Educational Tool has been revised by CMS and is now available in downloadable format. This educational tool is... Read More >
Physician practice patient retention strategies
nbsp Attracting new patients to your practice is one thing, but keeping them can be an entirely different issue. The days when you got to treat all members in a... Read More >
Communicate with patients to improve patient satisfaction
nbsp Last year Consumer Reports started ranking physicians and other healthcare providers in recent issues. Although most patients generally rated their physicians highly, they were less pleased with their interactions... Read More >
Even with change, remember the simple things
It seems like change is everywhere these days and how to address these changes are at the forefront with physicians and their practice administrators. Sometimes however we need to remember... Read More >
EHR Incentive Program: Medicare EPs Must Attest by March 31 to Receive 2013 Incentive
nbsp If you are an eligible professional EP , the last day you can register and attest to demonstrating meaningful use for the Medicare Electronic Health Record EHR Incentive Program... Read More >
Small Business Health Care Credit
nbsp In a news release, the IRS recommended that small businesses determine whether they can take the small business health care tax credit. The IRS website has a page devoted... Read More >
Ten Facts about Capital Gains and Losses
When you sell a capital asset, the sale usually results in a capital gain or loss. A capital asset includes most property you own and use for personal or investment... Read More >
How one physician practice is tackling transition to ICD-10
nbsp If haven t already started working on the transition to ICD- , you might be in a heep of trouble down the road. Here is how one physician practice... Read More >
The Fast And The Dead
nbsp Submited by Mark Weiss, JD Let s listen in to a series of calls from a potential deal partner to the office of the Smith and Jones Medical Group... Read More >
Physician office front desk collections
Today, patients are responsible for much larger portions of their medical bills. Copayments are on the rise, as are coinsurance and deductibles. It s not a stretch to say that... Read More >
HIPAA – patient sign-in sheets or call out the names
nbsp Question May physician offices use patient sign-in sheets or call out the names of their patients in their waiting rooms? Answer Yes. Covered entities, such as physician s offices,... Read More >
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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 >
