Don’t forget the small details when scrutinizing practice overhead
nbsp A physician practice manager s effort to control operating overhead never ends. It s not easy to hold overhead in line year to year But monitoring a few aspects... Read More >
IRS Releases Factsheet that Summarizes 2011 Tax Changes
nbsp The IRS reminded taxpayers see www.irs.gov newsroom article ,,id , .html of several available benefits and new reporting requirements for the tax return, including the nonbusiness energy credit up... Read More >
Accounts Receivable Statistics: A Quick-Check Guide – Part II
nbsp Yesterday I provided Part I of a summary of key A R statistics, how to best view them, and what they may indicate about your practice here is part... Read More >
Accounts Receivable Statistics: A Quick-Check Guide – Part I
Administrators produce pounds of paper as part of the month-end close process. Typically, buried deep within these reports lies the key to Accounts Receivable AR performance. These statistics are usually... Read More >
OIG Posts Video & Audio Podcast on Stark Law
nbsp Today the OIG posted a video and an audio podcast about the Physician Self-Referral Law, also called the Stark law. This video and audio podcast includes a general introduction... Read More >
It’s That Time of Year Again (AGAIN)
nbsp I wrote in the past an article about New Year resolutions for medical practices and their management. Well another year has gone by and I m still disappointed that... Read More >
Selected Participants in the Pioneer ACO Model
The Pioneer Accountable Care Organization ACO Model is a CMS Innovation Center initiative designed to support organizations with a new payment model, allowing them to provide more coordinated care to... Read More >
Six Year-End Tips to Reduce 2011 Taxes
nbsp The IRS wants to remind all taxpayers that with the New Year fast approaching, there is still time for you to take steps that can lower your taxes. However,... Read More >
Items & Services That Are Not Covered Under the Medicare Program
This publication published by the Medicare Learning Network provides the following information The four categories of items and services that are not covered under the Medicare Program andapplicable exceptions to... Read More >
2012 IRS mileage rates are out
The rates are . cents per mile for business miles driven cents per mile driven for medical or moving purposes and cents per mile driven in service to charitable organizations.... Read More >
Bad-debt Control Checklist to Improve Physician Practice Cash Flow – Part II
nbsp Do exceptions to approved guidelines require the approval of management on a case-by-case basis? yes no If a guideline is implemented, it should be followed to the letter. However,... Read More >
Bad-debt Control Checklist to Improve Physician Practice Cash Flow – Part I
nbsp With what seems like a continuous decline in physician reimbursement, it is imperative that all practices collect every dollar they are entitled to. However we all know this is... Read More >
A Good Time To Evaluate Your Medical Practice – Part II
nbsp As I mentioned in yesterday s post, now is a good time to evaluate and assess your medical practice. Here are a few more areas to take a look... Read More >
A Good Time To Evaluate Your Medical Practice – Part I
December is a great time of year not only because it s the holiday season for most but because it s a good time to evaluate and assess your medical... Read More >
Discontinuance of long term care insurance?
To all of our clients and loved ones Please read this carefully a word from Sean Tinsley It has come to our attention that recent increases in the cost of... Read More >
RACs Recover $797 Million In Overpayments
nbsp Medicare Recovery Audit Contractors RACs collected . million in overpayments during Fiscal Year FY , the Centers for Medicare and Medicaid Services CMS reported recently. Under the national program,... Read More >
Health Professionals’ Student Loan Repayments
nbsp Effective for amounts received after , IRC Sec. f authorizes an income exclusion for amounts received under a state loan repayment program or loan forgiveness program that is intended... Read More >
Final ACO rule and how it might affect physician practices
nbsp Physicians are not required to be meaningful users of electronic medical records EMR as a condition of participating in an ACO, although EMR is now a quality measure and... Read More >
Physician compliance – a first step
nbsp nbsp nbsp Unfortunately, too many physicians are unconcerned about fraud and abuse. Most are confident that their practice operations are compliant with Medicare billing and documentation guidelines, and that... Read More >
Determining appropriate overhead allocations
Understanding Fixed and Variable Overhead in OB Gyn Practice Expenses Question. We have an OB Gyn group. The founding partner wishes to no longer be on call nor handle OB.... Read More >
Want to know how to maximize physician revenue?
It s actually pretty simple Monitor physician volume, work RVUs, collections, gross and net collection percentages, payor mix and benchmark these against your peers, both nationally and internally. Then, evaluate... Read More >
Where to find medical practice billers (or any employee for that matter)
nbsp Smart organizations know that hiring the wrong employee is costly so costly, in fact, that it is well worth the extra effort to hire the right employee the first... Read More >
Dear physician, where are the contracts?
nbsp Even after many years of working with physicians, I am still surprised by the poor record-keeping habits of private practices. I m not talking about medical record documentation that... Read More >
OUCH-Possible big cut in physician Medicare reimbursements?
nbsp Centers for Medicare amp Medicaid Services CMS has released its Calendar Year CY Final Rule with Comment Period for practitioners who are paid under the Physician Fee Schedule PFS... Read More >
Are you regulary evaluating payer performance?
Evaluate payer performance based on the insurance plans that account for the highest volume of revenue to the practice. Examine and compare their reimbursement rates for the top CPT codes... Read More >
Oct 2011 – RAC update
CMS has released a report entitled Implementation of Recovery Auditing at the Centers for Medicare amp Medicaid Services. The report discusses the evolution of the Recovery Audit Contractor RAC program,... Read More >
Finding overhead savings in your physician practice
nbsp Here are a few ideas Always prepare or have prepared financial statements on a comparative basis. This allows you to spot overhead items that appear to be out of... Read More >
Final ACO regulations issues
Looking for some light reading, as in pages? Well you re in luck the final ACO regulations have been issues at http www.ofr.gov OFRUpload OFRData - PI.pdf The following are... Read More >
How to Attest for Meaningful Use – 3 Tips
Dr. Kevin Spencer, a physician that recently attested to meaningful use, provides three tips to make successfully attesting easier for other practices. According to Dr. Spencer, the key components to... Read More >
2012 OIG Work Plan – Looking at physicians
nbsp Physicians Incident-To Services. OIG will review physician billing for incident-to services to determine whether payment for such services had a higher error rate than non-incident-to services. Assess CMS s... Read More >
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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 >
