Health Care Credit Draft Form
The IRS released a draft of new Form Credit for Small Employer Health Insurance Premiums for eligible small businesses and tax-exempt organizations to calculate a credit for health insurance purchased... Read More >
Podcast on tax related provisions in health care reform
The Health Care Reform Law contains significant tax-related provisions. These include incentives and disincentives for individuals and businesses that phase in over a period of years. Jeff and Mark highlight... Read More >
MARKETING IS “TOO” IMPORTANT – Part 2
nbsp The following are a few external marketing strategies to consider as you attempt to grow your physician practice. Remember that growing your top line should be a top priority... Read More >
MARKETING IS “TOO” IMPORTANT – Part I
nbsp The incomes of many medical practices will be impacted as the healthcare industry continues to go through its own changes and new payment patterns begin to evolve the result... Read More >
Iowa College of Law Offering Free Internet Course on Health Care Reform Law
nbsp Law school may cost a pretty penny, but anyone interested in the legal side of health care reform can get such a deal from the University of Iowa College... Read More >
Are you monitoring managed care reimbursements?
nbsp How does a practice really know for sure it is receiving the correct reimbursement from its managed care payors? According to an informal polling of practitioners at a recent... Read More >
Want to retain valuable employees?
nbsp . Studies show rewards such as recognition and feedback are as important as pay, benefits, and status. . Recognition ideas may include gift cards, a team lunch, and a... Read More >
Has your physician practice fallen victim to the Silent PPO?
nbsp Physician practices are often deceived by a billing practice that creates payment discounts for payors who are not entitled to them. Under these arrangements, indemnity i.e. commercial insurance payors... Read More >
The importance of measuring utilization and outcomes
nbsp In order to compete in a market that is moving toward managed care, doctors must be able to show that they are more effective clinically than their peers. In... Read More >
Physician practice collections
Monitor and analyze the gross collection percentage dividing the practice s collections by its gross production on a monthly and year-to- date basis. The gross collection percentage is one of... Read More >
Numbers Don’t Lie-Using Sound Financial Principles to Manage Your Practice
nbsp Many physicians manage their practices from the gut and look at a paucity of numbers to evaluate the progress or lack of progress of their practices. Now there are... Read More >
Goodwill in Sale of Dental Practice (or physician practice)
One way to reduce double taxation on a corporate liquidation following an asset sale was highlighted in William Norwalk TC Memo - , where the Tax Court held that goodwill... Read More >
Common Billing Challenges & Solutions for Physician Hospital Charges
nbsp Problem Solution Waiting on Operative Notes Generally not necessary to attach operative notes to a claim form for most payors Exception Using the - modifier or billing an unlisted... Read More >
Identifying reasons why your gross collection percentage is not up to par
nbsp A shift in the practice s payor mix In some areas, the demographics of patients can switch away from commercial insurance to managed care. Sometimes, this switch can be... Read More >
Bad-debt Control Checklist to Improve Practice Cash Flow
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 not... Read More >
Look for the payroll bloat when reducing physican practice overhead
Think your operating overhead is as low as it can get? Think again. There s always something that can be tweaked to reduce overhead. To assess overhead, complete a financial... Read More >
DOJ & OIG Continue to Target Physician Consultant Arrangements
The following was reprinted from the Physician Organizations Practice Group section newsletter published by the American Health Lawyers Association. If you are not a member of this organization, I recommend... Read More >
Family practice doctors – don’t miss out on this revenue stream
An article in the New York Times stated that efforts to promote smoking cessation in the U.S. appear to be taking a hit as more programs shift their focus on... Read More >
Physicians Practicing in Underserved Areas
The Affordable Care Act expanded the tax exclusion authorized by IRC Sec. f for amounts received by health professionals under loan repayment and forgiveness programs. Effective for amounts received after... Read More >
CMS requires new time limits for filing claims
nbsp The Centers for Medicare amp Medicaid Services CMS recently issued instructions requiring providers to submit Medicare fee-for-service claims within one calendar year from the date of service. This requirement... Read More >
A strategic planning self-assessment for physician practices
The checklist below is an example of a strategic planning self-assessment you can use in your practice. The purpose of these self-assessments is to give you a concise checklist of... Read More >
Medicare utilization numbers for physicians
nbsp Looking for Medicare utilization statistics? You can go to the CMS website and download the files here http www.cms.hhs.gov MedicareFeeforSvcPartsAB MedicareUtilizationforPartB.asp TopOfPage This is the link for the Medicare... Read More >
What is the Most Common Deficiency in Today’s Physician Practices?
nbsp I am often asked what is the most common deficiency I find in medical practice operations when I conduct a full operational assessment. Managing a medical practice has to... Read More >
Considerations when limiting or reducing Medicare patients in a physician practice
nbsp Many physician practices are beginning to reduce and limit the number of new Medicare patients they see in the office. Here are some pointers in case you are thinking... Read More >
HIPAA: Physicians treating family members
What safeguards should physicians who treat family members consider? Reasonably ensure the maintenance of relevant audit logs. Also, consider a regular review of patient charts for family members treated regularly.... Read More >
Dear Doctor: It’s Not About Overhead Anymore
A colleague and I were discussing recently how we think physicians must have watched the cartoon series Southpark where school counselor Mr. Mackey tells the children about the evils of... Read More >
Starting a new medical practice?
nbsp Thinking of starting a new medical practice and wondering where do I begin? Well the first step is to download the new practice start-up checklist from my website https... Read More >
Continuity planning for physicians
nbsp Planning can ensure that your family and medical practice or any other healthcare entity business are protected. The long term survival of any business like a medical practice and... Read More >
Cash vs. accrual books for a physician practice
nbsp Oftentimes a medical practice wants to know whether or not it should keep its books on the cash basis of accounting or the accrual basis of accounting. The answer... Read More >
Are free fertility services a non-profit activity?
Let s start off this Monday with something light. An individual founded a California nonprofit public benefit corporation to provide his sperm free of charge to women seeking to become... Read More >
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Accounting and Tax Services Litigation Support Managed Care Consulting Managed Care Contract Negotiations Medical Practice and Healthcare Entity Valuation Medical Practice Assessment Medical Practice Brokerage Medical Practice Embezzlement Consulting Medical Practice Management Medical Practice Merger Advice Medical Strategic Planning Newsletter Personal Financial Planning Oversight Physician Compensation Models Physician Compliance Physician Financial Management Services Retirement UncategorizedAbout Reed Tinsley, CPA
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 >
