Increasing Profitability by Reviewing Medical Practice Reports – Part I
There is a saying that I truly believe in and that is You can t manage what you don t measure. I find many physician offices are losing money simply... Read More >
Physician response to declining reimbursement
nbsp In the Healthleaders Media Industry Survey, the following question was asked of physicians HOW WILL YOU RESPOND TO LOW MEDICARE MEDICAID REIMBURSEMENTS? The following were their responses Seek employed... Read More >
Great Patient Service Requires Proactive Communication
nbsp What images come to mind when you think about customer service in the physician s office? Typically, most people picture front-desk staff greeting patients or answering phones. But, I... Read More >
NSCHBC releases 2010 Joint Statistics Report, detailing financial data from more than 6,000 physicians
Stats compiled from nearly , dental practices and medical groups in numerous specialties Reston, Va., May , The National Society of Certified Healthcare Business Consultants NSCHBC today announced the availability... Read More >
Physician Compensation Planning for Hospitals
Assure that the reasons for the compensation arrangement are appropriate such as benefiting the community and not suspect. Be particularly careful with incentive compensation as poorly crafted incentives can incentivize... Read More >
Meaningful Use Attestation Calculator: CMS Has Launched a New Attestation Resource for the Medicare Electronic Health Record (EHR) Incentive Program
All Eligible Professionals EPs , eligible hospitals and Critical Access Hospitals CAHs participating in the Medicare EHR Incentive Program must attest to having met meaningful use requirements to receive their... Read More >
Entities eligible to form an accountable care organization
nbsp Under the proposed rule, an ACO may include the following types of groups of providers and suppliers of Medicare-covered services ACO professionals i.e., physicians and hospitals meeting the statutory... Read More >
More thoughts about physician practice mergers
nbsp The technical and legal aspects of a medical practice merger, while not always easy to resolve, can often be worked out. My experiences have shown me that failed mergers... Read More >
Why aren’t more physicians merging? There are benefits!
There is a myriad of strategic options for physicians who want to increase their capability to address and control what is occurring in today s healthcare market. One scared option... Read More >
Physicians: Remember the IRS Taxpayer Advocate Service
nbsp Physicians needing help solving their problems with the IRS can use the free and independent Taxpayer Advocate Service TAS within the IRS. The TAS assists taxpayers who are unable... Read More >
Subscriber response to physicians selling practices to hospitals
nbsp In the last issue of my newsletter, I wrote an article about physicians selling their medical practices to hospitals. Just thought I d share this feedback and commentary from... Read More >
Physician thoughts on healthcare reform
Last year the Physicians Foundation conducted a survey asking physicians about their thoughts on healthcare reform the following are some of the more interesting responses The majority of physicians said... Read More >
Improving physician practice collections
The toughest payers to collect from, though, are not commercial insurers or federal programs, but your own patients. For that, you need good practice policies and a determination to follow... Read More >
Constructing your own physician office? – don’t forget cost segregation
nbsp More and more physicians are building or purchasing their own buildings to house their medical practices. They would prefer to own and build up equity rather than lease comparable... Read More >
Physician practices and business interruption insurance
nbsp Most people would never consider opening a business or practice without buying insurance to cover damage due to fire and windstorms. However, too many physicians fail to think about... Read More >
Summary of new ACO regulations
nbsp As you know by now, the Centers for Medicare amp Medicaid Services CMS have issued proposed rules that would implement Section of the Affordable Care Act. Section requires the... Read More >
Medicare’s advanced imaging enrollment for physician practices
Section a of the Medicare Improvements for Patients and Providers Act of MIPPA amended section e of the Social Security Act and required the Secretary to designate organizations to accredit... Read More >
Physician practice selling out to a hospital
nbsp Without a doubt, times are tough for physicians in private practice. Operating costs continue to rise at a staggering pace and reimbursements are simply not keeping up. Recruiting and... Read More >
ACO regulations finally arrive – must read for all physicians
The Department of Health and Human Services HHS released regulations yesterday on accountable care organizations ACOs . The rules will guide provider organizations in setting up exchanges of healthcare data... Read More >
Reporting Employer Provided Health Insurance on Form W-2
nbsp The IRS has issued interim guidance on reporting the cost of employer-sponsored health insurance coverage on an employee s Form W- IRS Notice - . Beginning with Forms W-... Read More >
Succession Planning for Group Medical Practices
nbsp Established multiphysician practices typically have succession plans that are driven by the opposing interests of the entering and exiting owners, who might be shareholders, partners, or LLC members. Consider... Read More >
Succession Planning for Solo Medical Practices
Individual physicians must pursue the future of their practice with intensity and thoughtfulness. The good news is that the extra effort can have a direct effect on the financial rewards... Read More >
Judge Dismisses Suit Brought by Plaintiffs Seeking to Opt Out of Medicare
nbsp Here s something interesting Recently U.S. District Judge Rosemary Collyer dismissed a suit brought by a group of men seeking to cease their Medicare Part A coverage. In an... Read More >
IRS Tips for Pre-Approved Retirement Plans
nbsp In the latest edition of Retirement News for Employers available at www.irs.gov pub irs-tege rne win .pdf , the IRS reminds employers of their responsibilities concerning pre-approved plans that... Read More >
RACs Identify High-Risk Vulnerabilities for Physicians
Recent RAC audits have detected two high risk vulnerabilities for physician claims are listed in Table below. These claims were denied because the demonstration RACs determined that either a duplicate... Read More >
Submitted Line(s) Items With a GZ Modifier: Auto Denial of Claim
nbsp In case you haven t heard, CMS is establishing an automated edit to deny Part A and B claim line s items that contain a GZ modifier. The GZ... Read More >
What is your physician office visit payment policy
nbsp There should be one policy and one policy only for all medical practices To collect monies owed by patients at the time of their office visit. This policy needs... Read More >
BUSINESS PROCESS IMPROVEMENT – BEST PRACTICES RATHER THAN “BEST EFFORTS” – Part II
nbsp After the initial analysis and determination of primary objectives, the next step is to review the existing written policies and procedures for that process. If such documentation doesn t... Read More >
BUSINESS PROCESS IMPROVEMENT – BEST PRACTICES RATHER THAN “BEST EFFORTS” Part I
Similar to the mid to late s, medical practice management today has begun to be dominated by mergers, affiliations, and other external strategic initiatives aimed, ideally, at enhancing economic potential... Read More >
Dear Doctor – Get Your House in Order
nbsp Improve billing and collection activities Start doing financial benchmarking Improve your billing processes Improve receivables management process Improve CPT coding Critical in a fixed fee environment this is where... 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 >
