Succession Planning for Solo and Group Medical Practices
Succession Planning Whether you are a solo practicing physician or a member in a larger group practice, it s wise to begin thinking about succession planning. I have found in... Read More >
Will my PPP loan be forgiven in whole or in part?
The Coronavirus Aid, Relief, and Economic Security Act CARES Act added the Paycheck Protection Program PPP to provide economic relief to small businesses nationwide adversely impacted by the Coronavirus Disease... Read More >
More PPP Loan Changes Impacting Physician Practices
New PPP Loan Changes On Wednesday evening, the U.S. Senate passed the House version of Paycheck Protection Program PPP loan legislation, tripling the time allotted for small businesses and other... Read More >
Medical Practice Front-Office Staff Evaluations – An Overlooked Opportunity for Practice Improvement
Tensions can run high when it comes time for the practice to evaluate the performance of the front-office staff in medical practice. Many workers and even some managers will just... Read More >
May 2020 Newsletter
May Edition of the Physician Advocate Spring is officially here As we figure out how to navigate this new normal, we stay committed to providing you with the best resources... Read More >
Dear Doctor: Is Now The Time For You To Make a Roth IRA Conversion?
For years, financial and tax advisors have lectured about the wonderfulness of a Roth IRA and why you should convert traditional IRAs into Roth accounts. But, of course, you didn... Read More >
Navigating COVID-19 as a Physician Practice
The COVID- outbreak has had a crippling effect on the global economy. This is clearly uncharted territory. As millions around the globe do their best to minimize their exposure to... Read More >
Expenses Paid With Forgiven PPP Loan Proceeds Not Deductible
Medical Practice Tax News COVID- The Paycheck Protection Program PPP included in the CARES Act allows businesses with or fewer employees to receive loans to pay payroll costs, rent and... Read More >
Ten Ways Physician Business Owners can Improve Cashflow during Covid-19
There has been a lot of chatter and advice rendered on the listserv of the National Society of Certified Healthcare Consultants as we guide and advise our physician clients through... Read More >
April Newsletter
April Edition of the Physician Advocate This past month has been one where business as usual has been disrupted. In this month s newsletter, I ve provided several great resources... Read More >
Important Fraud Reminders During the COVID-19 Crisis
Fraudsters are taking advantage of these uncertain times caused by COVID- by impersonating the CDC, SBA, IRS and other government and healthcare organizations. Whether you re running a business or... Read More >
COVID-19 Personal and Business Frequently Asked Questions
There is still a lot of uncertainty surrounding COVID- . The following are a few coronavirus-related questions and answers that may be on your mind. Will my PPP loan be... Read More >
Physician and Medical Practice Write-offs
Tax Considerations for Meals and Entertainment Expenses As baseball season approached, I thought it would be a good idea to review once again physician and medical practice write-offs for meal... Read More >
Protecting Healthcare Workers From Patients in a COVID-19 Environment
It s been a very busy week on the National Society of Healthcare Business Consultants listserv discussing daily operational issues and the SBA paycheck protection program. One exchange caught my... Read More >
Surviving in the time of COVID-19: 4 Tips for Independent Physician Practices
The Impact of COVID- The long arms of the COVID- have jeopardized both lives and livelihoods. Surgeries have been unilaterally cancelled, and patients told to stay home, meaning revenues for... Read More >
March Newsletter
The March Edition of The Physician Advocate Featured blogs Strategic Planning for Your Physician Practice Where is Your Ship Headed? SECURE Act s Impact on Physician s and Healthcare Professionals... Read More >
21 Physician Practice Consulting Rules For Medical Practices
In my physician practice consulting endeavors, I ve noticed the amazing differences at how physician medical practices operate on a daily basis some good, some bad, some average. As such,... Read More >
Medical Practice Operations: The Relationship Between Front Desk Customer Service and Revenue
When discussing medical practice operations, patient satisfaction isn t the only aspect of your practice dependent on strong links between the office and your patients. Your first and best opportunities... Read More >
Avoid Bad Business Practices in Medical Practice Operations
Your medical practice or group works hard to settle on a sound market ing plan and your physicians pride themselves on their clinical reputations. Yet common, often over looked business... Read More >
Employee Best Practices for Physician Practice Management
Sometimes employees do not understand or follow the most basic workplace guidelines. As part of your physician practice management, here is a simple but comprehensive list that you can tweak... Read More >
Ransomware and Physician Practices
Ransomware attacks are the most common type of malware incident in the healthcare industry, including physician practices. What is Ransomware? According to The Compliance Group, of all malware incidents were... Read More >
Tips for Accounts Receivable Financial Management
Accounts Receivable Financial Management Some medical practices inevitably fall behind their accounts receivable A R financial management. After all, there are often more pressing issues at hand, and the reconciling... Read More >
February Newsletter: Welcome!
Welcome to the Firm s Newsletter Welcome to my new newsletter format for The Physician Advocate. I m excited about the new format and hope you will be too. As... Read More >
SECURE Act’s Impact on Physicians and Healthcare Professionals
The Setting Every Community Up for Retirement Enhancement SECURE Act The SECURE Act changed the landscape for retirement and savings planning. As an accountant to physicians and their medical practices,... Read More >
Strategic Planning for Your Physician Practice – Where is Your Ship Headed?
The Physician Practice World is Full of Uncertainties We can t keep up with the regulations, audits, reimbursement changes, meaningful use stages, and so much more, so why would we... Read More >
Is Your Physician Practice Ready for the New Overtime Rules?
Physician Practice and New Overtime Rules On September , , the Department of Labor issued its final ruling to increase the minimum salary threshold for executive, administrative and professional exemptions... Read More >
ABCs of Building a Financially Healthy Physician Practice
Building a Financially Healthy Physician Practice As changes continue to occur in the healthcare industry, physicians are taking a hard look at the numbers of a medical practice and gauging... Read More >
What’s Ahead for Physician Practices in 2020
Physician Practices Here s what to expect in CMS Medicare issued its Final Rule This final rule updates payment policies, payment rates, and other provisions for services furnished under the... Read More >
Is Your Physician Office Manager(s) Clearly Communicating With Employees?
Communicating with Physician Office Employees It is important for a physician office manager in a healthcare organization to make sure that staff members have a solid understanding of what is... Read More >
It’s IRS Tax Form 1099-MISC Time for Physician Medical Practices
Form -MISC With the close of the year, this is a simple reminder that physician medical practices must issue and file with the IRS Form -MISC to each person to... 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 >
