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 >
Annual OSHA Training Is the Best Way to Protect Your Employees and Maintain Compliance
nbsp Course listings Click here for details on each course or call - , ext. , for more information Employee Training Courses Basic OSHA Training Dental OSHA Training Ergonomics Fire... Read More >
Physician compliance plans – employee reporting
nbsp Any compliance plan in a physician s office has three objectives Prevent, Detect, and Correct. Critical to any plan are staff requirements for reporting any coding or billing compliance... Read More >
Do you have a strategic plan?
nbsp Do any of you have a strategic five ten year plan? You should hold physician retreats annually and plan into the future even if you are solo practitioner. The... Read More >
Reducing Payment Denials
nbsp What advice would I give for ways to reduce payment denials? Start simply but right away by implementing a simple system such as the following Flag all denied charges,... Read More >
Physician Mergers and Due Diligence
Physician Mergers Opportunities, dealing with present marketplace conditions or looking to the future has prompted many physicians to explore merging their practices with other physicians or even sell out to... Read More >
Patient phone call reminders
Looking for a system for phone call reminders to your physician office patients? If so, you might want to check out Inphonite s ReminderPro which is a hardware software package... Read More >
IRS Reminds Car Shoppers about Tax Break
The IRS reminded car shoppers that they have until to take advantage of a tax break that may not be around in . Individuals who buy a qualifying new vehicle... Read More >
Reduce Overhead by Expanding Your Schedule
nbsp Many practices look at the cost of rent as a fixed expense, when in fact in relationship to income rent could in fact be a variable expense when compared... Read More >
HPAA – Provide ongoing contract maintenance with your BA
Your work isn t done after signing a contract with a business associate BA . You need to do more than simply assume that your BA is following through on... Read More >
Use the Correct Modifier When Billing for Diagnostic Tests
According to a recent Transmittal from the Centers for Medicare and Medicaid Services, physicians and others are using modifier -PC to designate the professional component of diagnostic tests. However, the... Read More >
Medical practice corporate loans to employees – How to book interest at year end
nbsp Small physician practices and even some large ones every now and then extend loans to an employee, including a physician owner-employee. So in these instances, how do you book... Read More >
Year-end Charitable Donations – 2009
nbsp As year-end draws closer, the IRS notes that for donations of money which includes cash, check, Electronic Funds Transfer EFT , credit card, or payroll deduction , regardless of... Read More >
Non-Spouse IRA Rollover after death
nbsp Traditional IRAs have always allowed non-spouse beneficiaries to rollover IRAs as a DESIGNATED BENEFICIARY ACCOUNT DBA . Each of your three beneficiaries have until December of the year following... Read More >
Do Patients Have to Renew HIPAA Acknowledgements Every Year?
Understanding HIPAA Requirements and Expirations Patient privacy is a cornerstone of every medical practice. HIPAA regulations set the standard for safeguarding sensitive information, and practices must follow strict guidelines to... Read More >
Bad debt write offs – an example of digging deeper
nbsp If you are a Practice Administrator, one of your duties is to require a report of every account that is requested to be written off and review each one... Read More >
Overwhelming nurse phone call volume
nbsp Many physician offices have hard time dealing with the continual increase in nurse phone call volume. In most cases, the vast majority of total call volume is for the... Read More >
IRS Tax Publication Update
nbsp The IRS released updated Publication Your Federal Income Tax used to aid in the preparation of returns. There are more than law changes that took effect in that are... Read More >
Deduction for Nurse’s MBA
The Tax Court held in a summary opinion that a registered nurse could deduct expenses paid in in attaining an MBA with a specialization in Health Care Management MBA HCM... 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 >
