Find Out if You Are Prepared For Version 5010
The Fall is here, and the Version transition deadline is now less than four months away As the January , deadline approaches, your transition should be well underway. There are... Read More >
Reviewing/Affirming Your Group’s Compensation Philosophy
nbsp Before considering any specific pay formula or plan, the initial stage of analysis for an organization should be a review of its compensation philosophy, and today many groups are... Read More >
Product spotlight – Televox
If you could have a perfect day in your practice, what would that mean?? Is it having patients show up for appointments early, scheduling their follow-up visits and actually paying... Read More >
How Does a Physician Merger Process Typically Work?
Merger processes involve a number of discrete yet inter-related steps. The general process is typically one of Getting comfortable with each other Understanding each others philosophy of practice Due Diligence... Read More >
CMS Reports Physician Group Project Reduces Costs, Enhances Care
nbsp Last month CMS announced that its five-year Physician Group Practice Demonstration has reduced costs and improved quality of care. The project was launched in April and formed the blueprint... Read More >
Sale of a professional practice
nbsp In this case, the th Circuit affirmed a District Court s finding that amounts received by the taxpayer for personal goodwill from the sale of his dental practice should... Read More >
Physican Practices and the Small Business Health Care Credit
nbsp As the deadline for filing extended tax year returns approaches, the IRS encourages small employers to verify whether they are eligible for the new Small Business Health Care Tax... Read More >
The Costs and Risks of Merging Physician Practices
nbsp While there are benefits to be gained, there are also costs risks Putting a merger together requires a significant amount of time from both the physicians and their administrative... Read More >
Why Physicians Should Consider a Merger – A reposting
Since I m up here in New York this week facilitating a merger between two orthopedic groups, this week s posts will revolve around practice mergers. When I talk to... Read More >
CMS bundled payment initiative – should physicians be on guard?
nbsp The Bundled Payments for Care Improvement initiative seeks to improve patient care through payment innovation that fosters improved coordination and quality through a patient-centered approach. The CMS Innovation Center... Read More >
Physician coding reviews – increasing payments & reducing audit risk
nbsp Physicians with little enthusiasm for coding reviews of their practice become even less motivated when their perception is that the process does not always equate, due to a heavy... Read More >
The Modern Physician Practice Administrator in a Dynamic Healthcare Environment
There was a recent post on the LinkedIn Healthcare Executive Network discussion group entitled The Modern Practice Administrator in a Dynamic Healthcare Environment. The originator of the post asked What... Read More >
Physician practice employee recognition idea – a good one or a bad one?
nbsp I recently ran across the following website http www.baudville.com ?home trifectanew They sell sets of pre-printed sticky notes for the busy practice administrator to use to give positive feedback... Read More >
Only 132 More Days Until the HIPAA 5010 Compliance Date!
nbsp Register for the National Testing Week, August , . Is your practice ready for implementation? I m finding most will be waiting to the last minute, which could be... Read More >
Getting physician buy-in when purchasing an EMR system
No matter how robust, no matter how many bells and whistles an EMR system has, efficient implementation and execution will not occur without a high degree of physician buy in.... Read More >
Medical practice employees put in a position to succeed
Employees, who don t feel connected to their work, engaged by their management or loyal to their organization are approximately less productive than their engaged counterparts. Employee engagement is hugely... Read More >
Questions Every Physician Should Ask Before a Practice Merger
nbsp As the consolidation trend sweeps over the healthcare industry, many medical groups are considering strategic mergers with other groups in their region and or specialty. In our experience, many... Read More >
Why every physician needs a CPA & healthcare consultant
Building a Strong External Advisory Team for Your Medical Practice During my years in consulting, I have found that the successful medical practices out there are the ones that surround... Read More >
Why every physician needs a good insurance agent & financial planner
nbsp Insurance agent s Insurance is your indispensible first line of defense against a variety of exposures from malpractice to data breach and even traditional life and health. In many... Read More >
2010 Medicare Electronic Prescribing (eRx) Incentive Program Payment Update
The Centers for Medicare amp Medicaid Services CMS announced that incentive payments for the Medicare Electronic Prescribing eRx Incentive Program has begun for eligible professionals who met the criteria for... Read More >
Sale of residence
The IRS provided tips for taxpayers who have sold or are about to sell their principal residence. In general, sellers can exclude up to , of the gain , on... Read More >
Update on Recent Physician Prosecutions
From the American Health Lawyers Association www.healthlawyers.org authored by Judd Harwood, Esquire Balch amp Bingham LLP, Birmingham, AL , and David Ivers, Esquire Mitchell Blackstock Ivers amp Sneddon PLLC, Little... Read More >
A few ideas for improving physician practice cash flow
nbsp Filing claims and collecting co-pays promptly are keys to having a profitable practice. Is your practice attaining the benchmarks for filing claims and collecting co-pays? Office visits should be... Read More >
Allocations to a noncompete – how long to amortize for tax purposes
nbsp Here is a recent case that might interest any medical practice that has to allocate a sum of money to a covenant not to compete. This usually occurs when... Read More >
Developing a Merger Team for a Physician Practice Merger
Well, the first date turned out to be a good one and everyone wants to move forward. The physicians have decided to form a merger committee, participants from the respective... Read More >
Regularly Evaluate Your New Doctor Associate
nbsp Any expectations you have for a new Associate only works if you follow through with frequent evaluations. However, I am often struck by how little attention senior doctors give... Read More >
The 2011 release of ICD-10-CM is now available.
The release of ICD- -CM is now available. It replaces the December release. The National Center for Health Statistics NCHS , the Federal agency responsible for use of the International... Read More >
June false claim settlements by the OIG
- - After it self-disclosed conduct to the OIG, University of Nevada School of Medicine UNSOM , Nevada, agreed to pay , . for allegedly violating the Civil Monetary Penalties... Read More >
Avoid Turning Mistakes into the Customer’s Problem
Correction of Mistakes is Key Correct your group s mistakes immediately and overwhelmingly in your customer s favor. The customer may be the patient, local hospital, a referrer or someone... Read More >
Top 10 challenges facing medical practices today
In the recent issue of the MGMA magazine Connexion www.mgma.com , the following are the top ten challenges facing medical practices today per a survey of the MGMA membership Preparing... 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 >
