Improving front desk collections – again
nbsp I get so frustrated when I see collection failures at the front desk. If you think it is not that big of a deal your co-pays don t get... Read More >
HIPAA and reporting theft by a patient
nbsp A patient steals the wallet of a health care worker while at the hospital. The credit cards are used before they can be canceled. The health care worker views... Read More >
Estate Claim Alternatives?
There will come a time when you will receive patient statements returned from the patient s family, indicating our patient is deceased. You should verify with the local probate office... Read More >
What is the purpose of a deposition?
The deposition is not a time for you to present your malpractice case. Rather, it is a chance for opposing attorneys to ask you whatever they wish to know, to... Read More >
Attract (and keep) quality staff with flexible hours
It s all well and good to recognize that many patients lifestyles have shifted away from the traditional -to- , Monday-to-Friday work week. But consider, too, how your own staffing... Read More >
Looking for physician candidates in all the right places
To find a physician who fits well with your practice, you must know where to look. There are many effective methods of doing so, such as advertising, searching residency programs,... Read More >
Medicare Claims Crossover to Supplemental Payer Problem
nbsp The Centers for Medicare amp Medicaid Services CMS has identified a problem where claims were not automatically crossing over to supplemental payers even though the provider remittance advice indicated... Read More >
Retention of medical records
Is there a HIPAA standard for the retention of medical records and billing information? The HIPAA privacy rule does not provide specific requirements for the retention of medical or billing... Read More >
Patient emails
Email is becoming a frequent way to communicate with patients. However, you must concern yourself with HIPAA s privacy issues. Your office policy should state that patients must first give... Read More >
Payment to Physician or Other Supplier for Diagnostic Tests Subject to the Anti-Markup Payment Limitation
nbsp The Centers for Medicare amp Medicaid Services CMS is revising the section of the Medicare Claims Processing Manual to implement changes to CFR section . that were made in... Read More >
A thought on internal controls
nbsp Even with separation of duties, I find the lack of proper business oversight of internal practice controls astounding. In any position held with personal financial responsibility, you shouldn t... Read More >
Billing systems reports should collect more than dust
The clearest, most comprehensive final reports do little good tucked away in a filing cabinet. That s why billing and collection experts suggest regularly giving your receptionist an incoming call... Read More >
Survey your doctors and other healthcare professionals
Survey your physicians and allied healthcare providers to learn more about their perceptions of the practice. Like the one for staff, the physician survey allows physicians to think about and... Read More >
Keeping track of collections
To stay on top of collections and to improve your cash flow, send out statements on a regular basis, such as weekly or biweekly. Never hold the statements for more... Read More >
Tax Breaks You Should Know About
nbsp Below is a summary of some of the key tax provisions that may apply to your tax return. Prepared by my friends at Briggs Veselka, a CPA firm located... Read More >
Breaking bad habits at work
Sometimes bad habits are fairly innocuous. However in the workplace, they can ruin a career and disrupt internal business. The January issue of the Journal of Accountancy www.journalofaccountancy.com listed work... Read More >
Physician slowing down – compensation issues
nbsp How many physician employment contracts contemplate reduced duties prior to retirement? Believe it or not, not as many you might think. The key is that exercising the slow down... Read More >
Estate Planning – Will Your Estate Survive the Kids?
nbsp When it comes to estate planning, I have found that many wealthy families don t worry whether there will be enough money for the kids but whether the kids... Read More >
Getting ready for new liberalized IRA-to-Roth-IRA conversion rules
nbsp This year will be a pivotal one for retirement planning, as it will be the first year in which taxpayers will be able to convert funds in regular IRAs... Read More >
Are small providers exempt from HIPAA?
nbsp The term small providers originates in the Administrative Simplification Compliance Act ASCA , the law which requires those providers submitters who bill Medicare to submit only electronic claims to... Read More >
Employee engagement is a key to practice success
I recently finished reading Don Lowman s book Closing the Engagement Gap, which is based on a study of , employees around the globe. Great companies i.e your medical practice... Read More >
Donations to Haiti Earthquake Victims – an accelerated tax benefit available
The Senate and the House have approved H.R. , a bill to accelerate the income tax benefits for charitable cash contributions for the relief of victims of the earthquake in... Read More >
HSAs – a brief overview
nbsp Back in , President Bush introduced Health Savings Accounts HSA . Only individuals or families covered under a high-deductible health insurance plan during the year are eligible to contribute... Read More >
Physician practice strategic planning made easy
To make changes in your physician medical practice or any business for that matter you need an action plan. Creating an action plan doesn t need to be a long... Read More >
Under-Arrangements – A Brief Overview
Learn about "Under Arrangements" in healthcare—agreements between hospitals and physician-owned entities. Understand Stark Law implications, compliance, and restructuring options. Read More >
Strategic planning made easy
Here are a few suggestions for a simple strategic planning meeting one usually without an outside facilitator even though I don t recommend this . This format works especially well... Read More >
Business Use of Employer-provided Cell Phone – an update
An employee with an employer-provided cell phone receives a nontaxable working condition fringe benefit to the extent he or she uses the phone for business purposes, and the cell phone... Read More >
Back in vogue – private practices, hospitals teaming up again
Faced with economic uncertainty and financial woes, doctors in private practice are increasingly turning to hospitals for employment. I m hearing more and more of this activity in the past... Read More >
Medicare Physician Signature Requirements
With the rollout of the Recovery Audit Contractor RAC audit program in full swing, physicians should be paying close attention to their medical record documentation efforts. One of the Medicare... Read More >
Paid Tax Return Preparers
nbsp IRS Commissioner Doug Shulman offered taxpayers the following recommendations when selecting a tax return preparer avoid preparers who claim they can obtain larger refunds than others or who base... 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 >
