Getting creative on the job
I found this great list of Simple, Low-Cost, Soulful Ways to Be More Creative on the Job and wanted to share it with you. Next time you re stuck, pick... Read More >
CMS FACT SHEET LAYS OUT STIMULUS WORK
nbsp A fact sheet recently posted on the Centers for Medicare and Medicaid Services Web site explains steps that federal officials will take over the next year to implement the... Read More >
Summertime Tax Tips
The IRS will publish three tax tips per week this summer on topics ranging from how parents can get credit for sending their kids to day camp to avoiding identity... Read More >
Attitude counts in the business of healthcare
Collegiality-the need for all people in an organization to interact comfortably with each other-is important in business. Managed care pushes this factor strongly, though it s not often expressed. Plan... Read More >
CMS Releases RAC Phase-In Strategy
nbsp CMS released its strategy for phasing in the nationwide rollout of the RAC program last week, and RAC scrutiny of providers is set to begin immediately. According to CMS... Read More >
2010 CMS physician fee schedule
nbsp MGMA Government Affairs yesterday posted an alert regarding the CMS physician fee schedule. The alert includes the press release, which outlines some of CMS proposals to decrease payments in... Read More >
5 star customer service is a MUST
nbsp It s essential to keep your patients happy. Studies show that satisfied patients recover faster, stay with your practice longer, and give your practice a competitive advantage. On the... Read More >
IRS Addresses Student FICA Exception for Medical Residents
Date March , Refer Reply To CC TEGE EOEG ET CONEX- - The Honorable Mr. David Obey U.S. House of Representatives Washington, DC nbsp Dear Mr. Obey nbsp I am... Read More >
10 lessons you need to know before investing in EMR
nbsp . Think of EMR as a power tool it should help to improve patient care and practice efficiency. . Selection amp implementation requires a substantial amount of time, planning,... Read More >
IRS COBRA Q and A
The IRS has added new questions and answers explaining the COBRA continuation premium subsidy by employers for severed employees. The questions cover eligibility, form preparation, reporting and documentation, and taxability.... Read More >
Turning up the heat on Medicare fraud
According to a statement by Secretary of HHS Catherine Sebelius in a June HHS Press Release, the Obama Administration is committed to turning up the heat on Medicare fraud As... Read More >
Laundry list of merger issues
nbsp As predicted, more and more physician practices are exploring the merger option. Many have found a merger is a very viable strategic option for moving a practice in to... Read More >
Medicare Scam Alert
The Newest Medicare Scam CMS has become aware of a scam where perpetrators are sending faxes to physician offices posing as the Medicare carrier or Medicare Administrative Contractor MAC .... Read More >
Dependency Exemption in Divorce
nbsp In chief counsel advice, the IRS concludes that for divorce decrees or separation agreements executed before July , , a noncustodial parent may claim a dependency exemption without using... Read More >
Determining cost of service
Use this effective shortcut to determine cost of service First, using a spreadsheet program, for your most recent fiscal year, list all the procedure codes that you bill along with... Read More >
Ad Frequency: The Key To A Healthy Return On Investment
Achieving the right balance between where and how often to advertise can pay big dividends for practice growth. Frequency, or the number of times you run an ad, in print... Read More >
Some physicians cutting fees and offering payment plans during economic downturn
The Washington Post Kaiser Health News , Boodman reports that doctors are encountering more patients struggling to pay for care, and as a result, some physicians are now selectively cutting... Read More >
Stark and allocation of ancillary income
nbsp Stark dictates that ancillary income cannot be allocated based on referrals to the ancillary service. As long as the ancillary income distribution formula is set in advance, is not... Read More >
Master budgeting for your medical office
If you re just starting to build a medical office, craft your best estimate of what will happen in the upcoming year as straightforwardly as possible. As you compare each... Read More >
A simple way to keep track of drug inventory
Drug Inventory Log If you don t already have one, here is a real simple way to keep track and control of drugs kept in the office . Medicine vials... Read More >
Documenting E/M services
nbsp I ran across this documentation chart the other day appears to be a pretty good one. Use it not only as a documentation tool, but an educational tool as... Read More >
How to handle penalties against non-compliant partners
You cannot effectively impose penalties against non-compliant partners without clear provisions for punitive action. Our experts, thus, urge providing for sanctions, and specifically for monetary penalties, within your group documents.... Read More >
Notices of privacy practices
nbsp Reproduced from name of publication HCPro, Inc., Hoods Lane, Marblehead, MA . - . www.hcpro.com. Used with permission. nbsp Do notices of privacy practices NPP apply to business associates... Read More >
Eliminate timecards
nbsp Time Clock Software and Labor Tracking Systems are the solution to the Attendance monitoring problems in every company, including physician practices. Count Me In has a product that is... Read More >
Employed or Independent – What direction is in store for you?
The trend of hospitals acquiring physician practices is back. Approached physicians are thinking should I stay put or should I sell out. My friend and colleague Mike DeVries Mike vmde.com... Read More >
Create a patient form that’s in tune with the times
Add a field on patient forms that asks, How would you like to be addressed by our staff? More than simply demonstrating political correctness, that single action shows that you... Read More >
Looking for on-call scheduling software?
Take a look at these three companies: www.atstaff.com www.docs2000.net www.lightning-bolt.com Read More >
Fraud and abuse update
On May , , President Barack Obama signed the Fraud Enforcement and Recovery Act into law, introducing sweeping changes to the False Claims Act and providing hundreds of millions of... Read More >
Survey staff to evaluate practice performance
Survey staff to find out, confidentially, how your employees think the practice is performing in several service-related areas. Ask them to view the practice s service as if they were... Read More >
Give patients the opportunity to express their feelings
You must give patients the opportunity to express their feelings and ask questions, whether during regular office visits or during discussions following disappointing outcomes. Doing so can help the healing... 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 >
