Updating fee schedules appropriately
Knowing the importance of updating your rates is only half the battle. Now you must actually take care of your fee schedule. If you still feel uncomfortable raising prices and... Read More >
Try to predict your practice needs
I often urge physicians to ask two often overlooked questions when thinking of hiring a new colleague Can you get Dr. New on the panel with your major managed care... Read More >
Pay partners for taking on extra duties
Aside from your top physician leader, the increasing complexity of medical practice creates the need for physicians in all size groups to kick in with various aspects of running the... Read More >
Patient satisfaction surveys – put in online
In today s electronic age, it just doesn t make sense to send out patient satisfaction surveys on paper. I bet most of your patients have email and access to... Read More >
Repayment or compensation? When does intent occur?
Here is a common scenario the physician-owner takes out money from his or her medical practice for one reason then later decides to characterize it differently. For example, the physician... Read More >
Terminating a payor contract
nbsp Deciding to terminate a payor contract is always a tough proposition, especially when a payor contract provides you with a lot of your revenues. However, sometimes you just have... Read More >
2010 OIG Work Plan
The Office of Inspector General OIG , Department of Health amp Human Services, released its Work Plan for fiscal year . The Work Plan describes the work the OIG plans... Read More >
FMV compensationand work RVUs
nbsp Suppose a hospital is proposing a new method compensating its physicians based upon a WRVU work relative value unit model. The physicians will be paid a base salary based... Read More >
New Lean Six Sigma Book Takes Medical Practices 20 Years Ahead in Profitability
To help medical practices increase profitability without cutting costs or boosting revenues, Greenbranch Publishing announces a new book by two of my good friends, Lean Six Sigma Master Black Belt... Read More >
Death and NPI
Medicare Billing Challenges for Deceased Providers Expert Advice I had this posted on my blog site. Not knowing the answer, I posed it to my colleagues at the National Society... Read More >
Jury duty
nbsp A client the other day asked for sample language to address jury duty in their human resource policy manual here is what I provided Jury service is considered to... Read More >
Performing your own internal coding audit
With RACs surrounding us and lots of talk lately about fraud and abuse issues, now might be a good time to conduct your own internal audit. When you perform an... Read More >
Beyond Co-Pay: Upfront Bills at the Doctor’s Office
Upfront Payments Rethinking Your Practice s Front Desk Collection Policy Insured patients typically expect to make a small co-payment when they see a doctor, and later get billed for anything... Read More >
Two-Thirds Don’t Have a Financial Plan
nbsp Despite increasing pressure to slash debt and rebuild retirement funds, nearly two-thirds of consumers do not have a written financial plan, according to the National Consumer Survey on Personal... Read More >
Write Out Your Physician Group’s Retirement Policy
With a written plan in place for transitioning into retirement, you ll find it much easier to communicate jointly about that touchy issue. As always, you must consider the group... Read More >
HIPAA acknowledgments
nbsp Reprinted with permission by HcPro. Please check out their premium monthly newsletter Briefings on HIPAA BOH . Do HIPAA acknowledgements need to be renewed by patients every year? No.... Read More >
Can a managed care contract be negotiated or renegotiated?
nbsp Absolutely The problem is that most medical practices don t even try to negotiate a managed care contract. Most feel it would be a waste of time and resources... Read More >
Musings on billing, collection, and profitability
So you ve got a handle on your accounts receivable A R and you know roughly how long it takes to get paid once you submit a bill. Congratulations now... Read More >
Practice costs are the No. 1 worry
nbsp Healthcare Finance News reports that the Medical Group Management Association survey reveals the three top challenges of running a group practice remain the same as in , with money... Read More >
OIG targeting incident-to billing
nbsp In the midst of healthcare reform debates and new HIPAA mandates, the Office of the Inspector General OIG has released a new study of incident to billing. This study... Read More >
Sept 2009 – RAC update
nbsp Connolly Healthcare, the Recovery Audit Contractor for Region C, has posted three new approved issues on its website. Two of these issues, Wheelchair Bundling and Urological Bundling, relate specifically... Read More >
Bereavement Leave
A client recently asked my advice on employee bereavement leave of absence. Here is one I usually recommend Employees who wish to take time off due to the death of... Read More >
Relocation and NPI notification
nbsp If a health care provider with a National Provider Identifier NPI moves to a new location, must the health care provider notify the National Plan and Provider Enumeration System... Read More >
Employees wanting to work from home
What if you have a biller that wants to work from home? What are been the pros and cons? I do have clients that allow their coders to work for... Read More >
Tools to Challenge Payer Collaboration on Contracts
More and more provider organizations are beginning to incorporate contract language that protects their revenue streams. When facing payer consolidation and collaboration, consider these tips to make sure you continue... Read More >
Imaging accreditation
Obtaining your imaging accreditation promotes the appropriate and rational use of imaging services, standardizes the level of care a radiologist can offer, and covers a broad range of imaging areas.... Read More >
Should You Consider Selling Your Practice to a Hospital?
Without a doubt, times are tough for physicians in private practice. Operating costs continue to rise at a staggering pace and reimbursements are simply not keeping up. Recruiting and retaining... Read More >
J-1 & HI-B Visas – Use by Physicians
From Lathrop Gage law firm www.lathropgage.com Immigrant visas are for people who intend to live permanently in the U.S. Nonimmigrant visas are for people with permanent residence outside the U.S.... Read More >
Employees – can you be both friend and a boss?
nbsp You are a boss and a friend of an employee. I have found, from experience that it is difficult to remain objective and it is also hard to identify... Read More >
Recruiting Report: Doc Signing Bonuses & Salaries Up
nbsp The Wall Street Journal recently reported that hospitals and practices using a big recruiter to hire new doctors are making more frequent use of signing bonuses. For the year... Read More >
Subscribe to my blog
Categories
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 >
