Physician practice accounts receivable management – Part II
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, something... Read More >
Physician practice accounts receivable management – Part I
You should look always be looking out to see if the accounts receivable are getting older. This is called bracket creep. If the accounts are getting older, the office may... Read More >
AMGA Releases ACO How-To Book
nbsp The American Medical Group Association AMGA released on Feb. a book on healthcare integration that provides guidance on how to lay the groundwork for a successful accountable care organization... Read More >
Hospital acquisition of a physician practice – the process
Based on my experience, the following is the typical process on how a hospital goes about acquiring a physician practice these days is there anything you would add or revise?... Read More >
The RACs are coming, the RACs are coming….
nbsp Frank Cohen recently completed a RAC survey of physician medical practices. Of those responding, were subject to a RAC audit sometime in the past. Of these, nearly stated that... Read More >
Medicare’s physician compare website
nbsp CMS announced on December th a new feature to enhance its Physician Directory tool, called Physician Compare, which expands and updates the existing Healthcare Provider Directory. The new site,... Read More >
Other Ways to Reduce Overhead Costs – Part II
nbsp Physicians everywhere are looking for ways to trim their overhead. However, most have found that there is not much else they can do. Here are a few additional ideas... Read More >
Other Ways to Reduce Overhead Costs – Part I
Physicians everywhere are looking for ways to trim their overhead. However, most have found that there is not much else they can do. Here are a few ideas you might... Read More >
Medicare immunization billing update
nbsp Effective for dates of service on or after October , , Healthcare Common Procedure Coding System HCPCS codes Q , Q , Q , Q , and Q will... Read More >
Importance of integration within any physician practice merger
nbsp Integration within a medical group practice is fundamental. A minimum amount of integration is required to be considered a group practice under Stark and Federal antitrust laws. Generally, a... Read More >
Expense reimbursements: 2 options for physician employers
Like any business, reimbursements to physician medical practice employees for business-related overnight lodging and meals are generally handled in ways . under an accountable plan or . under a nonaccountable... Read More >
AMA reminds physicians to be on the lookout for embezzlement
nbsp The American Medical Association recently reported that medical office embezzlement is common at medical practices, and experts say the risk is especially high at the beginning of the year.... Read More >
Remaining questions for ACOs
According to Congressional Quarterly CQ , Donald M. Berwick, administrator of the Centers for Medicare and Medicaid Services, acknowledged this week that federal officials will have to sort through complicated... Read More >
OIG Offers Free Compliance Training Seminar
The Office of Inspector General OIG for the U.S. Department of Health and Human Services is offering a series of free, half-day compliance training sessions for local health care providers,... Read More >
Review Your Personnel Manual From A Legal Standpoint
nbsp While not intended as a legal document, your personnel manual may have the force of an employment contract. Review it to be sure it won t cause unintended problems.... Read More >
Medicare incentive payment program for primary care services
Section a of the Affordable Care Act provides for an incentive payment for primary care services furnished on or after January , , and before January , , by a... Read More >
Ways to Derail Your Physician Practice Strategic Planning Retreat
nbsp As I ve talked about until I m blue in the face, all physician medical practices need to plan their future. One way to do this is to have... Read More >
Incentive compensation based on Relative Value Unit generation by physicians
nbsp Physician employers may want to use Relative Value Unites RVU to measure productivity and incentivize employed physicians. Relative value scales are used by Medicare to determine the fee for... Read More >
Strategic planning for physician practices
As you likely know, there are many changes occurring in the health care marketplace. These changes are coming to pass very rapidly and this in turn is forcing many practicing... Read More >
Hospital employment of physicians rising
Thought you might be interested in the article below that was recently published in the Dallas Business Journal. I again emphasize the need for strategic planning for all medical practices,... Read More >
January 2011 tax due dates
By Jan. , Process W- s submitted for before the first wage payment. Reminder With elimination of the advance EITC for , the W- is eliminated. Do not make another... Read More >
Tips to keep your medical office staff healthy
It s important to keep your staff healthy because healthy employees are able to be more attentive to your patients. Your staff will take less sick days off work. And... Read More >
FICA Medical Student Exemption
nbsp IRC Sec. b authorizes a FICA exemption for students employed by and regularly attending classes at a school or university. However, Reg. . b - states that medical residents... Read More >
Misconceptions About ACOs and the Shared Savings Program
nbsp Section of the Patient Protection and Accountable Care Act the Act creates the Shared Savings Program for Medicare. Under the Shared Savings Program, which is to take effect no... Read More >
Verify you are in Medicare’s physician PECOS system
Physicians or other eligible professionals not currently enrolled in PECOS should take the initiative to enroll sooner rather than later. There are three ways to verify that you have an... Read More >
Revised Physician Supervision Requirements Under the 2011 OPPS Final Rule
In the Hospital Outpatient Prospective Payment System Final Rule OPPS Final Rule , the Centers for Medicare and Medicaid Services CMS has relaxed somewhat the physician supervision requirements for hospital... Read More >
Docs Blame Health Law for Death of Private Practice
nbsp Of all the scary scenarios predicted for the new health law this is among the scariest A new survey of doctors predicts the rapid extinction of the private-practice physician.... Read More >
It’s That Time of Year Again – Part 5
Here are the last now get to work. I RESOLVE to consider a practice merger Consider a practice merger to eliminate duplicate overhead, to increase revenue, to possibly gain some... Read More >
It’s That Time of Year Again – Part 4
nbsp Dear physician and practice administrator, are you paying attention to this series? I RESOLVE to start my own personal financial planning This includes retirement planning, education planning, budgeting, insurance... Read More >
It’s That Time of Year Again – Part 3
nbsp More resolutions for for your physician practice I RESOLVE to take a proactive managed care stance Conduct a detailed review all of your current managed care relationships to assess... 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 >
