Retaining Key Employees in Your Medical Practice
Many medical practices are you tired of losing good employees to the competition? They are looking for ways to stop the revolving door of hiring one good employee only to... Read More >
Coding Trends of Medicare Evaluation and Management Services
nbsp In May , the Department of Health and Human Services Office of Inspector General OIG issued a report entitled Coding Trends of Medicare Evaluation and Management Services. This study... Read More >
What can you learn from Benjamin Franklin?
I don t know about you but I really like to read blogs. I subscribe to numerous blogs and it seems I always walk way learning something new after I... Read More >
Take a look at your 90+ old receivables category
nbsp A good indicator of how well the office is collecting its accounts is the percentage of receivables that is more than days old. If the percentage is unusually high,... Read More >
Aetna begins to deselect physicians (i.e. kick em out of their network)
nbsp Back in April Aetna informed physicians in Texas that they were being deselected from the Aetna network effective July st, . Apparently this action is singular to Texas it... Read More >
Don’t forget importance of quality & outcomes in managed care negotiations
nbsp To me the most powerful form of leverage in any managed care negotiation is utilization and outcomes data i.e. quality . Practices and their physician owners who are progressive... Read More >
Are you using your PM system to its full capabilities?
nbsp We all know how important efficiency is to any medical practice, especially its billing and collection functions. To maximize your billing and collection processes, you need to dig deeper... Read More >
The Importance of a Recall System for Physician Practices
nbsp Medical practices can run a serious risk if its patients are not recalled for follow-up as required by medical protocols and just as important, also lose revenues. Practices can... Read More >
Analyze potential social security benefits as source of retirement income
nbsp I m a strong believer of planning for your retirement unfortunately most physicians are not very good at it if they attempt to do it at all. If you... Read More >
Dear Physicians – Start paying attention to your practice
nbsp Does this scenario sound familiar Medical practices delegates all oversight, supervision, and daily office management to the practice administrator yet only to find out later that things are REALLY... Read More >
Keep payer from cutting physician negotiated fee schedule
Best Option Attach fee schedule and require your consent to changes. The best way to plug this loophole in your plan contracts is to attach the fee schedule to the... Read More >
RVU physician compensation model
RVU Compensation For Physicians I m often asked about compensation modeling, especially during these times when there are continued pressures on physician practice net income. Many practices, especially those owned... Read More >
Phoenix Cardiac Surgery HIPAA violations – a follow up
In this case, the OCR found that, on a daily basis, over a period of four years, Phoenix Cardiac Surgery had transmitted ePHI from an Internet-based email account to the... Read More >
Office manager embezzles from Texas physician office
nbsp In Texas, a -year-old woman has been charged with felony theft after police say she stole nearly , over several months at the doctor s office where she was... Read More >
10 requirements of the perfect (physician practice) manager
Jamie over at e merge https www.emergewith.us turned me on to this list at TechRepublic review it how many of these traits do you or your practice admininstrator possess? .... Read More >
The most common coding abuses by a physician practice
nbsp I was watching a special on CNBC about healthcare fraud and it reminded me again about the most common coding abuses by physicians and their billing staff. Compliance in... Read More >
27 ACOs began work April 1
nbsp CMS s Shared Savings Program ACOs, which began on April , will serve an estimated , beneficiaries in states. The group has collectively more than , physicians, hospitals and... Read More >
Physician practice gets into HIPAA hot water
nbsp Phoenix Cardiac Surgery, P.C., of Phoenix and Prescott, Arizona, has agreed to pay the U.S. Department of Health and Human Services HHS a , settlement and take corrective action... Read More >
Medicare moves to tie doctorsโ pay to quality & cost of care
nbsp Interesting article in the Washington Post can Medicare really move this way? I doubt it very hard to make an elephant dance. http www.washingtonpost.com national health-science medicare-moves-to-tie-doctors-pay-to-quality-and-cost-of-care gIQAFq IIT... Read More >
National Practitioner Data Bank reporting requirements
The National Practitioner Data Bank NPDB is an electronic repository of all payments made on behalf of physicians in connection with medical liability settlements or judgments as well as adverse... Read More >
Any quick and simple way to reduce payment denials?
nbsp Consider the following . Flag all denied charges, usually my making a copy of the related EOBs and placing them in a manilla folder. . Hold a staff meeting... Read More >
Don’t Ignore These Special Insurance Coverages For Your Medical Practice
nbsp These five comparatively unknown insurance coverages can save you thousands or more of dollars. And they aren t very expensive. Almost everyone recognizes the need for certain basic kinds... Read More >
Another take on physician practice merger due diligence
By now the merger committee has the due diligence process underway. The merger team has been interviewed and assembled. The initial funding for this due diligence process has been estimated... Read More >
Turnover is Costly
nbsp I have heard that there is a study by the United States Department of Labor that confirmed that costs to replace an employee could equal of salary. Regardless of... Read More >
If You Handle Protected Health Information (PHI) or Personally Identifiable Information (PII), Buy Data Breach and Security Incident Insurance!
nbsp We live in the data age where every day a new technology is announced in business- and consumer-oriented ecommerce and mobile health mhealth . In response, in recent years,... Read More >
Fix ambiguous fair market value (FMV) calculations in your buy/sell agreement
nbsp Perhaps the most contentious area of a buy-sell agreement is the method for calculating buy out. One small misstep can lead to an overvaluation, costing the practice more money... Read More >
It doesn’t become A/R if you collect it at the front desk
nbsp Remember it never gets to be a receivable if you collect it at the time of service. I wonder how many physician practices realize the real true cost it... Read More >
7 elements of an effective compliance plan
The Office of Inspector General OIG has recommended the following seven elements of an effective compliance plan. This applies to all healthcare entities. Although these elements are well known, how... Read More >
HEAT Healthcare Toolkits Posted on OIG Website
nbsp The Healthcare Fraud Prevention and Enforcement Action Team HEAT and the Office of Inspector General have posted a Toolkit consisting of a series of podcast training videos on the... Read More >
Update buy-sell agreements to sidestep dispute when physicians leave
nbsp A lot can change in a practice over the course of a few years the group s culture can shift, its financial standing may improve or decline, it may... 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 >
