Physician new year resolution #6 and #7
nbsp I RESOLVE to hold a strategic planning retreat this year This even applies to solo practitioners. Do you know where you want to be , , years from now?... Read More >
Physician new year resolution #4 and #5
I RESOLVE to take a proactive managed care stance Conduct a detailed review all of your current managed care relationships to assess what payers need to be eliminated and what... Read More >
2012 physician new year resolutions
nbsp A book entitled When Professionals Have to Lead A New Model for High Performance by the Harvard Business School Press mentions that most professional service firms yes, a medical... Read More >
Start year with a SWOT analysis for your medical practice
nbsp The start of a new year along with pretty much any other date is a good time to assess your physician practice s marketing position and plan for the... Read More >
New Way to Report Capital Gains and Losses for 2011
In most cases, taxpayers now use new Form to report capital gain and loss transactions. Schedule D, the form traditionally used to show these individual transactions, is now used as... Read More >
Brief summary of MGMA’s 2011 physician compensation survey
Physician Compensation and Production Survey In a statement released by the Medical Group Management Association, primary care and specialty-care physicians saw varied movement in compensation levels from to , according... Read More >
ACO whitepaper released
nbsp Following the Patient Protection and Affordable Care Act s emphasis on Accountable Care Organizations ACOs and the announcement of the Medicare Shared Savings Program, an increased interest has emerged... Read More >
Donโt forget the small details when scrutinizing practice overhead
nbsp A physician practice manager s effort to control operating overhead never ends. It s not easy to hold overhead in line year to year But monitoring a few aspects... Read More >
IRS Releases Factsheet that Summarizes 2011 Tax Changes
nbsp The IRS reminded taxpayers see www.irs.gov newsroom article ,,id , .html of several available benefits and new reporting requirements for the tax return, including the nonbusiness energy credit up... Read More >
Accounts Receivable Statistics: A Quick-Check Guide – Part II
nbsp Yesterday I provided Part I of a summary of key A R statistics, how to best view them, and what they may indicate about your practice here is part... Read More >
Accounts Receivable Statistics: A Quick-Check Guide – Part I
Administrators produce pounds of paper as part of the month-end close process. Typically, buried deep within these reports lies the key to Accounts Receivable AR performance. These statistics are usually... Read More >
OIG Posts Video & Audio Podcast on Stark Law
nbsp Today the OIG posted a video and an audio podcast about the Physician Self-Referral Law, also called the Stark law. This video and audio podcast includes a general introduction... Read More >
Itโs That Time of Year Again (AGAIN)
nbsp I wrote in the past an article about New Year resolutions for medical practices and their management. Well another year has gone by and I m still disappointed that... Read More >
Selected Participants in the Pioneer ACO Model
The Pioneer Accountable Care Organization ACO Model is a CMS Innovation Center initiative designed to support organizations with a new payment model, allowing them to provide more coordinated care to... Read More >
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 >
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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 >
