February Edition of the Physician Advocate In our February newsletter we cover Fraud and the Sleeping Watchdog, the Individual Tax Provisions of the New Appropriations Act, and Five Tips to Regain Your Retirement Savings Focus in 2021. Read the February Newsletter below or browse through the … [Read more...]
Key Physician Practice Pre-Merger Decisions
Key Physician Practice Pre-Merger Decisions During the merger process, the physicians as a group will need to make numerous key pre-merger decisions about certain aspects and elements of the new group practice. Many of these key pre-merger decision areas are listed below. Some of these decisions … [Read more...]
Home Office Deduction: Can You Take it?
Home Office Deduction If you have an office outside your personal home—say, downtown—can you have a tax-deductible office inside your home for the same trade or business that will allow for a home office deduction? The answer is, yes! But who says that? The IRS says that. I'll show you where the … [Read more...]
Collecting Patient Deductibles in a Medical Practice
Patient Deductibles in a Medical Practice It's that time of year again - patients will make an appointment with you and they will now have a copayment "and" a deductible to pay. As patient deductibles increase each year, deductibles can be a significant part of your medical practice cash pay … [Read more...]
Is Medical Practice Overhead Really to Blame for Today’s Woes?
Medical Practice Overhead or Improve the Top Line? I recently saw the recent blurb in a physician email newsletter: Diagnostic clinic short on docs Once a vibrant and expanding practice in the medical community, the _______ Clinic is beginning to wither as doctors continue to leave. By the end of … [Read more...]
OCR Issues Audit Report on HIPAA Compliance
HIPAA Compliance The Office for Civil Rights (OCR) at the U.S. Department of Health and Human Services (HHS) has released its 2016-2017 HIPAA Audits Industry Report that reviewed selected health care entities and business associates for compliance with certain provisions of the HIPAA Privacy, … [Read more...]