nbsp Section of the Patient Protection and Accountable Care Act the Act creates the Shared Savings Program for Medicare. Under the Shared Savings Program, which is to take effect no... Read More >
Physicians or other eligible professionals not currently enrolled in PECOS should take the initiative to enroll sooner rather than later. There are three ways to verify that you have an... Read More >
In the Hospital Outpatient Prospective Payment System Final Rule OPPS Final Rule , the Centers for Medicare and Medicaid Services CMS has relaxed somewhat the physician supervision requirements for hospital... Read More >
nbsp Of all the scary scenarios predicted for the new health law this is among the scariest A new survey of doctors predicts the rapid extinction of the private-practice physician.... Read More >
Here are the last now get to work. I RESOLVE to consider a practice merger Consider a practice merger to eliminate duplicate overhead, to increase revenue, to possibly gain some... Read More >
nbsp Dear physician and practice administrator, are you paying attention to this series? I RESOLVE to start my own personal financial planning This includes retirement planning, education planning, budgeting, insurance... Read More >
nbsp More resolutions for for your physician practice I RESOLVE to take a proactive managed care stance Conduct a detailed review all of your current managed care relationships to assess... Read More >
nbsp More resolutions I RESOLVE to take a CPT coding class Most of your revenues are coming from fixed fee payers Medicare, managed care, etc. . Your services are paid... Read More >
Last year I wrote an article about new year resolutions for medical practices and their management. Well another year has gone by and I m still disappointed that most practices... Read More >
Physicians and other professionals and service providers get some relief from proposed identity theft compliance obligations. On December , President Obama signed the Red Flag Program Clarification Act of into... Read More >
nbsp The United States Attorney s Office for the District of Maryland has announced that St. Joseph Medical Center in Towson Maryland will pay million to settle allegations that it... Read More >
nbsp On December , , the President signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of . With the uncertainty of taxes finally over, plain... Read More >
Four Ways to Prevent Receivables from Getting Old Old receivables are an age old problem for most all medical practices. It a fact of life for any active medical practice... Read More >
nbsp CMS has issued a new transmittal to update its timeline for implementing claims edits that will deny claims for services ordered or referred by a physician or other eligible... Read More >
A good deal of disagreeable behavior exhibited within medical groups can be traced back to money and overhead is an easy target because everyone understands it and it s always... Read More >
An Effective Compliance Plan An effective compliance plan should include the following elements A general statement of conduct that promotes a clear commitment to compliance. Appointment of a trustworthy compliance... Read More >
Effective estate planning should address wealth transfer from a practical and cost-effective approach. One estate planning strategy that families with closely held businesses should consider is the family limited partnership.... Read More >
nbsp In response to advocacy efforts, the Centers for Medicare amp Medicaid Services CMS recently postponed a claims edit that would have resulted in denial of payment for claims if... Read More >
Beginning , the standard mileage rates for using a vehicle including an auto, van, pickup, or panel truck will be cents per mile for business purposes, cents per mile for... Read More >
FDA s Role in CLIA Test Complexity Categorization Since November , , the Food and Drug Administration FDA has had the authority to implement the Clinical Laboratory Improvement Amendments CLIA... Read More >
nbsp In November CMS announced that beginning in , Eligible Professionals EPs who are not successful electronic prescribers may be subject to a payment adjustment or penalty. Section of the... Read More >
nbsp Buy a new car You or your corporation can claim up to , in bonus depreciation on a new not used car purchased and placed in service before midnight... Read More >
nbsp Medical claim denials cut right at the jugular of a practice s financial success. Today, a medical practice s operating expenses often exceed of its total revenue. With thin... Read More >
nbsp Effective January , , the new Stark In-Office Ancillary Services Exception the IOASE provisions will require physicians or group practices relying upon the IOASE collectively, Physician Practices to furnish... Read More >
The U.S. Justice Department recovered more than billion under the False Claims Act since the beginning of , the largest amount in any two-year period in history, a DOJ official... Read More >
How to Handle Employee Theft in Your Medical Practice A Step-by-Step Guide Most health care professionals must trust their employees to handle the financial aspects of their practices and in... Read More >
nbsp Monitor contractual adjustments for reasonableness Depend-ing on the practice s payor mix, a high volume of contractual adjustments could indicate possible embezzlement. For example, an insurance claim for ,... Read More >
nbsp Following is an example of our strategic planning self-assessment. The purpose of these self-assessments is to give you a concise checklist of best practices in a clinical practice. This... Read More >
nbsp Most physicians strive to work ethically, render high-quality medical care to their patients, and submit proper claims for payment. Society places enormous trust in physicians, and rightly so. Trust... Read More >
Does your medical practice use Quickbooks to keep its accounting records? Then you ll be interested in this The IRS noted that it recently completed training for revenue agents the... Read More >
Subscribe to my blog
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 >
