Six Year-End Tips to Reduce 2011 Taxes
nbsp The IRS wants to remind all taxpayers that with the New Year fast approaching, there is still time for you to take steps that can lower your taxes. However,... Read More >
Items & Services That Are Not Covered Under the Medicare Program
This publication published by the Medicare Learning Network provides the following information The four categories of items and services that are not covered under the Medicare Program andapplicable exceptions to... Read More >
2012 IRS mileage rates are out
The rates are . cents per mile for business miles driven cents per mile driven for medical or moving purposes and cents per mile driven in service to charitable organizations.... Read More >
Bad-debt Control Checklist to Improve Physician Practice Cash Flow – Part II
nbsp Do exceptions to approved guidelines require the approval of management on a case-by-case basis? yes no If a guideline is implemented, it should be followed to the letter. However,... Read More >
Bad-debt Control Checklist to Improve Physician Practice Cash Flow – Part I
nbsp With what seems like a continuous decline in physician reimbursement, it is imperative that all practices collect every dollar they are entitled to. However we all know this is... Read More >
A Good Time To Evaluate Your Medical Practice – Part II
nbsp As I mentioned in yesterday s post, now is a good time to evaluate and assess your medical practice. Here are a few more areas to take a look... Read More >
A Good Time To Evaluate Your Medical Practice – Part I
December is a great time of year not only because it s the holiday season for most but because it s a good time to evaluate and assess your medical... Read More >
Discontinuance of long term care insurance?
To all of our clients and loved ones Please read this carefully a word from Sean Tinsley It has come to our attention that recent increases in the cost of... Read More >
RACs Recover $797 Million In Overpayments
nbsp Medicare Recovery Audit Contractors RACs collected . million in overpayments during Fiscal Year FY , the Centers for Medicare and Medicaid Services CMS reported recently. Under the national program,... Read More >
Health Professionals’ Student Loan Repayments
nbsp Effective for amounts received after , IRC Sec. f authorizes an income exclusion for amounts received under a state loan repayment program or loan forgiveness program that is intended... Read More >
Final ACO rule and how it might affect physician practices
nbsp Physicians are not required to be meaningful users of electronic medical records EMR as a condition of participating in an ACO, although EMR is now a quality measure and... Read More >
Physician compliance – a first step
nbsp nbsp nbsp Unfortunately, too many physicians are unconcerned about fraud and abuse. Most are confident that their practice operations are compliant with Medicare billing and documentation guidelines, and that... Read More >
Determining appropriate overhead allocations
Understanding Fixed and Variable Overhead in OB Gyn Practice Expenses Question. We have an OB Gyn group. The founding partner wishes to no longer be on call nor handle OB.... Read More >
Want to know how to maximize physician revenue?
It s actually pretty simple Monitor physician volume, work RVUs, collections, gross and net collection percentages, payor mix and benchmark these against your peers, both nationally and internally. Then, evaluate... Read More >
Where to find medical practice billers (or any employee for that matter)
nbsp Smart organizations know that hiring the wrong employee is costly so costly, in fact, that it is well worth the extra effort to hire the right employee the first... Read More >
Dear physician, where are the contracts?
nbsp Even after many years of working with physicians, I am still surprised by the poor record-keeping habits of private practices. I m not talking about medical record documentation that... Read More >
OUCH-Possible big cut in physician Medicare reimbursements?
nbsp Centers for Medicare amp Medicaid Services CMS has released its Calendar Year CY Final Rule with Comment Period for practitioners who are paid under the Physician Fee Schedule PFS... Read More >
Are you regulary evaluating payer performance?
Evaluate payer performance based on the insurance plans that account for the highest volume of revenue to the practice. Examine and compare their reimbursement rates for the top CPT codes... Read More >
Oct 2011 – RAC update
CMS has released a report entitled Implementation of Recovery Auditing at the Centers for Medicare amp Medicaid Services. The report discusses the evolution of the Recovery Audit Contractor RAC program,... Read More >
Finding overhead savings in your physician practice
nbsp Here are a few ideas Always prepare or have prepared financial statements on a comparative basis. This allows you to spot overhead items that appear to be out of... Read More >
Final ACO regulations issues
Looking for some light reading, as in pages? Well you re in luck the final ACO regulations have been issues at http www.ofr.gov OFRUpload OFRData - PI.pdf The following are... Read More >
How to Attest for Meaningful Use – 3 Tips
Dr. Kevin Spencer, a physician that recently attested to meaningful use, provides three tips to make successfully attesting easier for other practices. According to Dr. Spencer, the key components to... Read More >
2012 OIG Work Plan – Looking at physicians
nbsp Physicians Incident-To Services. OIG will review physician billing for incident-to services to determine whether payment for such services had a higher error rate than non-incident-to services. Assess CMS s... Read More >
Does opting out of Medicare follow the physician?
nbsp The opting out of Medicare by a physician applies to all items or services the physician or practitioner furnishes to Medicare beneficiaries regardless of the location where such items... Read More >
Messenger Model IPAs Must Always Keep Antitrust in Mind
nbsp As managed care reimbursement continues to decline, physicians are looking at any way possible to level the playing field. This includes merging medical practices, selling the physician practice to... Read More >
Are you being reimbursed correctly?
nbsp How does a practice or any health care provider really know for sure it is receiving the correct reimbursement from its managed care payors? According to an informal polling... Read More >
Regulary evaluate your new doctor associate
nbsp Any expectations you have for a new Associate only works if you follow through with frequent valuations. However, I am often struck by how little attention senior doctors give... Read More >
Reporting employer health care coverage on Form W-2
From the Internal Revenue Service An Oct. webinar will explain the Affordable Care Act provision that requires some employers to report health care coverage on Form W- . Related links... Read More >
HHS launches new Affordable Care Act initiative to strengthen primary care
nbsp The U.S. Department of Health and Human Services HHS yesterday launched a new initiative made possible by the Affordable Care Act to help primary care practices deliver higher quality,... Read More >
Physicians running behind schedule
Optimizing Patient Experience with Efficient Appointment Management There is absolutely no substitute for the human touch of when a receptionist personally tells patients that a physician is running behind schedule.... 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 >
