ACA IRS Rules and Reporting Requirements
nbsp The Internal Revenue Service has been working hard to arm us with some ACA navigational tools. The most recent of which came in the form of well forms both... Read More >
Reminder to conduct background checks for new medical practice employees
In addition to conducting reference checks when hiring new medical practice employees, you should also do a complete background check. Background checks can include the following Social security verification Criminal... Read More >
Billed charge and related payer allowable
nbsp When I negotiate managed care contracts on behalf of clients, one part of the process is to take a practice s top CPT codes and then pull the most... Read More >
A quick way to increase patient volume
nbsp The following was from a recent post to one of the MGMA listservs I fully agree that once you have your fixed overhead covered it is good business to... Read More >
IRS Releases Draft Forms Health Care Information Reporting
nbsp The IRS has released draft versions of the long-anticipated information returns that employers and insurers will use to meet the reporting requirements mandated by health care reform. Form -B... Read More >
Providers Enrolled as a ‘Sole Practitioner’, or ‘Private Practice’– Medicare Claim Submission Requirements for the Billing and Rendering Information
nbsp If a physician is are enrolled as a Sole Practitioner , or Private Practice Provider, only the Billing NPI assigned should be submitted on the claim to Medicare. It... Read More >
Another human resource idea for physician practices
nbsp The Austin American Statesman a while back ran an article about Jack Welch, the former CEO of GE. In the article, he was asked about GE s approach to... Read More >
ICD-10 Testing Opportunities for Medicare FFS Providers
nbsp On July , HHS issued a rule CMS- -F finalizing October , as the new compliance date for health care providers and health plans to transition to ICD- .... Read More >
ICD-10 Deadline Provides Ample Time for Physician Preparation
New Compliance Date for ICD- Transition On July , HHS issued a rule finalizing October , as the new compliance date for health care providers, health plans, and health care... Read More >
HIPAA Phase 2 audits about to begin
nbsp The U.S. Department of Health and Human Services Office for Civil Rights OCR will soon begin a second phase of audits Phase Audits of compliance with Health Insurance Portability... Read More >
2013 NSCHBC Physician & Dental Practice Statistics Report – How Do You Compare?
NSCHBC Physician amp Dental Practice Statistics Report The National Society of Certified Healthcare Business Consultants NSCHBC for which I have been a long standing member has produced their annual Practice... Read More >
Sample monthly reports for physicians
Monthly Reports Sample Total Billed total for practice and brokend down per provider compared to prior year Total Collected total for practice and broken down per provider compared to prior... Read More >
Billing for Physician Extenders
A physician extender is a licensed health care provider not a physician that provides medical services, typically performed by a physician. The term physician extender is commonly used to identify... Read More >
“Accountable Care Organizations: What Providers Need to Know” Fact Sheet — Revised
The Accountable Care Organizations What Providers Need to Know Fact Sheet ICN has been revised and is now available in a downloadable format from CMA. This fact sheet is designed... Read More >
Fraud Alert-Laboratory Payments to Referring Physicians
nbsp The Office of Inspector General of the Department of Health and Human Services today issued a Special Fraud Alert pertaining to relationships between laboratories and referring physicians. Payments from... Read More >
Reducing physician claim denials
nbsp Most practices have the software available that should enable them to produce and analyze reports which will provide valuable information. By reviewing this information, you are able to see... Read More >
ACA Regulations Allow Orientation Period for New Hires
The Affordable Care Act ACA prohibits group health plans and group health insurance issuers from applying waiting periods exceeding days. Under newly issued final regulations, employers will be allowed to... Read More >
Contract provision required participation in EHR Meaningful Use Program
nbsp I was reviewing a physician s employment agreement and ran across a provision that requires the physician to participate in their Electronic Health Record Meaningful Use Program. I think... Read More >
Internal monitoring of physician billing and coding
Physian practices should always be aware of any and all internal risks identified in the past that need to be monitored. Internal monitoring of some of the areas below can... Read More >
Improving the physician business office
nbsp Most practice management systems are built on relational databases. This means that almost every field can be pulled into reports and analyzed. Data mining has become a buzz word... Read More >
Thoughts on physician practice employee retention
Competition and quality. Both of these words define key elements that management personnel within the medical industry must remain focused on in order to be successful. Management teams are responsible... Read More >
Common Medicare billing errors per EOBs
nbsp Medicare Benefits Message Non-covered charge s. Prior to performing or billing a service, ensure that the service is covered under Medicare. Please refer to the Centers for Medicare amp... Read More >
Have you updated your personnel manual?
nbsp When was the last time you updated your employee handbook and or personnel policies. It is not uncommon for a handbook to reference policies or information that may change... Read More >
NSCHBC physician statistics are out
nbsp The National Society of Certified Healthcare Business Consultants for which I have been a long standing member has produced their annual Practice Statistics Report . This statistics report contains... Read More >
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 >
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 >
