Blog

Laboratory Blood Counts: Provider Compliance Tips

February 28, 2019

In 2017, the Medicare fee-for-service improper payment rate for blood counts was 19.2 percent with projected inaccurate payments of $56.6 million. Improper payments resulted from: Insufficient documentation – 89 percent Incorrect coding – 8.3 percent No documentation – 2.7 percent Prevent denials by reviewing the Provider Compliance Tips for Laboratory Tests – Blood Counts Fact …

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Steps to Strategic Planning Success for Physician Practices

February 26, 2019

If your physician practice has ever engaged in the process of strategic planning, you know that the planning retreat is just one step in the process.  Practices spend precious time and resources preparing for a planning retreat, then spend time away from the office to attend the retreat and create the plan.   Everyone leaves the …

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Mergers: Pause and Question

February 25, 2019

Good post by good friend colleague Mark Weiss at the Advisory Law Group: Strength in numbers. Or is there? Medical groups seeking alternatives to the sale of their practice to a hospital often consider merging with another group. There’s nothing wrong with the notion of a merger. Often, there’s something right. But not always. For …

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Monitoring Financial Performance for your Physician Medical Practice’s Financial Success

February 22, 2019

It’s tempting to put the business operations of small private medical practices on the back burner to concentrate on patient care. While patient care should always be the first priority of medical staff, you can’t ignore key performance indicators that tell you how your practice is performing comparably financially. Knowing how to measure your practice …

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Dos and don’ts for creating a concierge medical practice

February 20, 2019

As first reported in Fierce Practice Management email  newsletter, as many as one in three (remaining) independent practices will rely on subscription fees to survive financially in the coming years. While many physicians that make the switch to a concierge or retainer model report higher satisfaction among them and their patients, there are several caveats …

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Evaluation and Management Services Coding Questions

February 19, 2019

Is modifier 25 reported on the second encounter if a physician sees a patient in the office in the morning and again in the afternoon for a new or worsened condition? No, modifier 25 is used to identify a significantly, separately identifiable E/M service performed by a physician on the same date as a procedure …

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When merging physician medical practices, look at for these – they will derail your merger plan

February 18, 2019

Continued Resistance Inability to Compromise Lack of “Group-Think” Sacred Cows Hidden Agendas Clashing Personalities Inability to Make Decisions Staking out Leaderships Roles too Early

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Advantages of Forming a Merged Group Practice

February 17, 2019

In case you have not thought of some of the benefits of merging physician medical practices: Increased Revenues From Same Practice Production Reduced Overhead Managed Care Contracting Technology Upgrade Capability New Revenue Streams Call Coverage Clinical Staff Leverage Reduced Competition Access to Capital Real Estate Enhance Human Capital Can you thing of some other advantages? …

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Laurel-Based Physicians Group and Neurologist Agree to Pay Almost One Million Dollars to Resolve False Claims Act Allegations

February 15, 2019

Jefferson Medical Associates, a now dissolved, multi-specialty medical practice group in Laurel, and Dr. Aremmia Tanious, have agreed to pay the United States $817,635.06 to resolve claims under the False Claims Act arising from Medicare overpayments to Jefferson Medical Associates and Dr. Tanious, announced U.S. Attorney Mike Hurst. This settlement resolves allegations that from January …

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10 lessons learned about retirement

February 12, 2019

Richard Quinn  |  January 23, 2019 The Humble Dollar FOR THE BETTER part of 40 years, I spent a great deal of time helping thousands of workers prepare for retirement. We ran seminars for workers and spouses on topics like retirement income, insurance, lifestyle, relocation and more. I think it’s fair to say that, if someone took …

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