It’s IRS Tax Form 1099-MISC Time for Physician Medical Practices
Form -MISC With the close of the year, this is a simple reminder that physician medical practices must issue and file with the IRS Form -MISC to each person to... Read More >
Business Entertainment and Meals Under the New Tax Law – What Physicians Need to Know
Tax reform has had a significant impact on the tax deductions you can now claim for business entertainment and meals. The new tax law also eliminated business deductions for entertainment.... Read More >
Now available: 2018 MIPS final scores impacting 2020 payments
Update from the Medical Group Management Association nbsp Performance Feedback If your group practice submitted Merit-based Incentive Payment System MIPS data, you can now view performance feedback, final scores, and... Read More >
Addressing Mental Health in the Workplace – A free webinar from NSCHBC
nbsp The Way We Talk About Stress Although we are often stressed, overwhelmed, discouraged or worried about outcomes at work we rarely categorize them as mental health concerns. Did you... Read More >
Medicare Provider Enrollment Alert – Issues resulting from recent Provider Enrollment, Chain and Ownership System (PECOS) Release
PECOS Release . was implemented On June , , PECOS Release . was implemented. This release was prescheduled and designed to bring efficiencies to Medicare Administrative Contractors MACs and providers... Read More >
Physician Practice Absenteeism Policy
I sometimes get asked is there a physician absenteeism policy I like. Here is one sample policy but you have to be willing to enforce it for it to be... Read More >
Mid-Year Tax Planning Ideas from Thomson Reuters
nbsp It s hard to believe that about months have passed since President Trump signed into law the Tax Cuts and Jobs Act TCJA the largest major tax reform in... Read More >
IRS Urges Paycheck Checkup
nbsp The IRS has launched a special campaign encouraging taxpayers to perform a paycheck checkup to ensure the right amount of tax is being withheld from their paychecks for .... Read More >
New Health Reimbursement Arrangements (HRAs) rules for employers and employees
nbsp On June , , the Internal Revenue Service, the Department of Labor and the Department of Health and Human Services issued final rules regarding health reimbursement arrangements HRAs and... Read More >
New Medicare Card: 75% of Claims Submitted with MBI
nbsp Many providers are using the new Medicare Beneficiary Identifier MBI for Medicare transactions. For the week ending June , providers submitted of fee-for-service claims with the MBI. Help protect... Read More >
Managing by the Numbers
nbsp One of my prior articles cautioned readers on the use of overhead rates as a financial indicator of practice performance. The point I want to make now is that... Read More >
Business Entertainment and Meals Under the New Tax Law – What Physicians Need to Know
nbsp Tax reform has had a significant impact on the tax deductions you can now claim for business entertainment and meals. The new tax law also eliminated business deductions for... Read More >
7 Financial Planning Issues New Physicians Must Grapple With – From the White Coat Investor
nbsp Sometimes, smart people simply aren t aware of the financial issues they need to take care of. New physicians either need to do their own financial planning, or pay... Read More >
The Medical Billing Team is The Center of Your Business
nbsp nbsp P.J. Cloud-Moulds Physician s Practice Blog Over the past three years, I ve really managed to shift who makes policies, enforces policies, and understand why policies are made.... Read More >
Physician/Doctor’s dirty coats
nbsp Most patients prefer their doctor to wear a traditional white coat, a garment seen as a reassuring symbol of medical know-how. But new research has found that healthcare workers... Read More >
E/M Auditing 101: Tips from an Auditor – A Free Webinar
nbsp Even with the implementation of the Electronic Health Record EHR EMR and their templates to click and paste your way to a particular level of E M service, auditors... Read More >
Medicare Shared Savings Program: Do You Plan to Apply to be an ACO?
nbsp CMS announced Notice of Intent to Apply NOIA and application cycle dates for a January , , start date for the Medicare Shared Savings Program Pathways to Success Opens... Read More >
Physician Disability Payments and Sub S distributions
Question If a corporation pays the disability premiums for a doctor and those premiums are recorded as Sub S distributions, will they be considered to be paid by the doctor... Read More >
Updated Physician Practice Acquisition Study: Changes in Physician Employment (2012-2018)
Physicians Leaving Private Practices for Hospitals A Growing Trend Physicians are increasingly leaving private practices to join hospital networks, states a new report from the Physicians Advocacy Institute. From July... Read More >
Leadership Tips for Physician Practice Administrators and/or Managing Partners
nbsp The following qualities are a MUST have for the leadership in any organization, team, administrator or managing partner. The effect of the whole, or sole leader MUST be this... Read More >
Handling Unhappy (or Irate) Patients
nbsp Stay calm They might be angry, but they are angry at what s happened to them, not at you. Your frame of mind and demeanor can greatly influence the... Read More >
CMS Releases All-Payer Guidance – CMS Quality Payment Program
nbsp CMS is collecting information and documentation to determine whether payment arrangements qualify as Other Payer Advanced Alternative Payment Models APMs under the Quality Payment Program QPP . Payers with... Read More >
Practice management (PM) system tools to improve practice efficiencies
nbsp Administrative duties are a necessary evil every practice deals with. Not only do tasks like coding and documentation take valuable time away from treating patients, they can lead to... Read More >
Diagnostic medical imaging services company pays $3,000,000 to settle breach exposing over 300,000 patients’ protected health information
nbsp Touchstone Medical Imaging Touchstone has agreed to pay , , to the Office for Civil Rights OCR at the U.S. Department of Health and Human Services HHS , and... Read More >
If you’re going to make it, Make sure you keep it
nbsp As a CPA and healthcare consultant, one of the things that continues to concerns me is employee theft within a medical practice or any other healthcare entity for that... Read More >
HHS Announces Final Conscience Rule Protecting Health Care Entities and Individuals
nbsp The U.S. Department of Health and Human Services HHS Office for Civil Rights OCR announced today the issuance of the final conscience rule that protects individuals and health care... Read More >
Stay involved in the financial side of your practice to prevent fraud
nbsp To defend against fraud, physicians must get involved in the day-to-day operations of the office, at least in a limited way. To protect yourself, put the following financial controls... Read More >
Physician practice metrics to benchmark and monitor
nbsp Need a complete list of non-accounting metrics to benchmark and monitor here you go If any others please send to me at reedt rtacpa.com Gross Collection Percentage Net Collection... Read More >
More Doctors Choosing Hospitals over Private Practices
April , By Ashley Herzog Published by The Heartland Institute From July to January , hospitals in the United States acquired approximately , private medical practices. Over the same period,... Read More >
Does your physician practice have a “patient-friendly” collection process?
nbsp When patients don t pay their medical bills, maintaining a profitable medical practice can be extremely difficult. In case you were wondering, the message is clear patients want to... 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 >
