Managed Care Oversight You have payer relationships so I ask: How is your current managed care oversight? While your medical practice may be compliant with billing regulations and coding, this does not mean that your payer is compliant and has paid you correctly per your contract. Providers know … [Read more...]
Billing for Services when Medicare is a Secondary Payer
Medicare Secondary Payer Background Medicare law and regulations require all entities that bill Medicare for services or items given to Medicare beneficiaries to decide whether Medicare is the primary payer for those services or items before submitting a claim to Medicare. (See Section 1862(b)(2) … [Read more...]
OSHA Overview Medical Practices
OSHA Overview Remember OSHA? Seems like we’ve forgotten about it. However, like HIPAA, your medical practice has to be in compliance – Are you? Here is a brief overview of the bloodborne pathogen rules under OSHA. When reading what OSHA requires employers to do, ask yourself – Am I doing these … [Read more...]
Accounts Payable and Internal Controls
Accounts Payable and Internal Controls The vital role that internal controls play within any well managed medical practice is widely recognized. Knowledgeable practice managers are well aware that poor controls in this single area can result in far more dire consequences than simply dampened … [Read more...]
Individual 401(k) Plans: An Overview for Solo Physicians
Individual 401(k) Simply put, an Individual or Solo 401(k) is a retirement account designed for the self-employed, or business owners with no full-time employees, like a solo physician practice. An Individual 401(k) plan offers many of the same benefits of a traditional 401(k) with a few distinct … [Read more...]
SEP IRA vs Solo 401(k)
SEP IRA vs Solo 401(k): Which Should You Choose? How do you multiply your net worth? Let the government help. Here’s how: With both the SEP IRA and the solo 401(k) retirement plans, your investment in your tax-favored retirement creates tax deductions for the money you invest in the plan, grows … [Read more...]