nbsp CMS has issued a new transmittal to update its timeline for implementing claims edits that will deny claims for services ordered or referred by a physician or other eligible... Read More >
A good deal of disagreeable behavior exhibited within medical groups can be traced back to money and overhead is an easy target because everyone understands it and it s always... Read More >
An Effective Compliance Plan An effective compliance plan should include the following elements A general statement of conduct that promotes a clear commitment to compliance. Appointment of a trustworthy compliance... Read More >
Effective estate planning should address wealth transfer from a practical and cost-effective approach. One estate planning strategy that families with closely held businesses should consider is the family limited partnership.... Read More >
nbsp In response to advocacy efforts, the Centers for Medicare amp Medicaid Services CMS recently postponed a claims edit that would have resulted in denial of payment for claims if... Read More >
Beginning , the standard mileage rates for using a vehicle including an auto, van, pickup, or panel truck will be cents per mile for business purposes, cents per mile for... Read More >
FDA s Role in CLIA Test Complexity Categorization Since November , , the Food and Drug Administration FDA has had the authority to implement the Clinical Laboratory Improvement Amendments CLIA... Read More >
nbsp In November CMS announced that beginning in , Eligible Professionals EPs who are not successful electronic prescribers may be subject to a payment adjustment or penalty. Section of the... Read More >
nbsp Buy a new car You or your corporation can claim up to , in bonus depreciation on a new not used car purchased and placed in service before midnight... Read More >
nbsp Medical claim denials cut right at the jugular of a practice s financial success. Today, a medical practice s operating expenses often exceed of its total revenue. With thin... Read More >
nbsp Effective January , , the new Stark In-Office Ancillary Services Exception the IOASE provisions will require physicians or group practices relying upon the IOASE collectively, Physician Practices to furnish... Read More >
The U.S. Justice Department recovered more than billion under the False Claims Act since the beginning of , the largest amount in any two-year period in history, a DOJ official... Read More >
How to Handle Employee Theft in Your Medical Practice A Step-by-Step Guide Most health care professionals must trust their employees to handle the financial aspects of their practices and in... Read More >
nbsp Monitor contractual adjustments for reasonableness Depend-ing on the practice s payor mix, a high volume of contractual adjustments could indicate possible embezzlement. For example, an insurance claim for ,... Read More >
nbsp Following is an example of our strategic planning self-assessment. The purpose of these self-assessments is to give you a concise checklist of best practices in a clinical practice. This... Read More >
nbsp Most physicians strive to work ethically, render high-quality medical care to their patients, and submit proper claims for payment. Society places enormous trust in physicians, and rightly so. Trust... Read More >
Does your medical practice use Quickbooks to keep its accounting records? Then you ll be interested in this The IRS noted that it recently completed training for revenue agents the... Read More >
As we call know, billing mistakes can cost your practice money, frustrate your patients and even put your relationship with insurance providers at risk however, the vast majority of billing... Read More >
nbsp Evaluation amp Management Services In , Medicare spent nearly one fifth of its Part B payments on Evaluation and Management E amp M Services. Providers are responsible for ensuring... Read More >
nbsp The Centers for Medicare amp Medicaid Services CMS earlier this year issued instructions requiring providers to submit Medicare fee-for-service claims within one calendar year from the date of service.... Read More >
nbsp The major pension plan and related amounts will stay the same for . This means, for example, that the following amounts will remain unchanged from their amount benefit limit... Read More >
nbsp If medical practices want patients and therefore a cash flow revenue stream, then you are more than likely going to have to participate in managed care plans. However, when... Read More >
Many physicians and their managers might think that boosting office morale means having to boost staff salaries. In reality, money does not keep people happy for long, so trying to... Read More >
nbsp Unfortunately, many physicians believe their activities are under the radar when it comes to fraud and abuse enforcement. A settlement announcement by the Office of Inspector General OIG of... Read More >
There has been a great deal of discussion about estate taxes recently because there is no federal estate tax upon death during at least for now . We do not... Read More >
As first reported by the Medical Group Management Association www.mgma.com , last week an official at the Centers for Medicare and Medicaid Services CMS reported that the agency identified a... Read More >
nbsp You also want to look at productivity, such as the number of patient visits office versus hospital , how many diagnostic tests or other in-house services were provided, and... Read More >
nbsp One of my prior articles cautioned readers on the use of overhead rates as a financial indicator of practice performance. I called it diddling the overhead since overhead is... Read More >
nbsp Esurg.com is an online source of medical, surgical and pharmaceutical supplies to office-based healthcare providers. Its Website is located at www.esurg.com. Esurg.com is a convenient resource that helps practice... Read More >
Medicare utilizes information provided by the Comprehensive Error Rate Testing CERT contractor to select topics for education in an effort to reduce the provider compliance error rate and achieve positive... Read More >
Subscribe to my blog
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 >
