Medicare's Quality Payment Program The Centers for Medicare & Medicaid Services (CMS) has updated the Quality Payment Program website to include 2020 Alternative Payment Model (APM) Incentive Payment details. To access this information, clinicians and surrogates can now log in to the QPP … [Read more...]
Addressing Decline in Managed Care Payer Reimbursement
Managed Care Contracting Here is a recent email exchange between practice administrators regarding managed care: First administrator: I was in the dumps already since Aetna and BC/BS of Texas alerted us least week of fee changes. Today I get a letter from United that they will also change … [Read more...]
Medical Practice Accounts Payable and Internal Controls
Medical Practice Accounts Payable Internal Controls The vital role that internal controls play within any well managed medical practice is widely recognized. Knowledgeable practice managers are well aware that poor controls in this single area can result in far more dire consequences than simply … [Read more...]
The ABCs of Building a Financially Healthy Medical Practice
Want a Financially Healthy Medical 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 whether the year at hand will be economically successful. To analyze the productivity of the practice, physicians … [Read more...]
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 your business succession plan. I have found in my consulting practice that many physicians seem to wait until the last minute to address the issue of succession. … [Read more...]
A Strategic Planning Self-Assessment for Physician Medical Practices
Strategic Planning Following is an example of my strategic planning self-assessment. The purpose of these self-assessments is to give you a concise checklist of best practices in a physician medical practice (and other healthcare practices for that matter). This checklist follows the Pareto … [Read more...]