The Irate Patient The following is a situation that recently happened in a physician’s office: An irate patient came in to complain about the "no show" charge of $50. The administrator along with the billing manager went out to meet with him. His first comment was that he only wanted to speak with … [Read more...]
Motivate Medical Office Staff and Enhance Productivity
Motivate medical office staff and enhance productivity With all of the responsibilities and demands that medical office staff face on a daily basis (e.g., unhappy patients to cope with, incessant calls to answer, and insurers to battle), keeping staff motivated can often prove a daunting … [Read more...]
Mid-year Tax Planning Strategies for Physicians
Personal Tax Planning Strategies I hope that you and your loved ones are safe as you deal with the current COVID-19 crisis. What an incredibly difficult year this has been! This most recent tax season was unlike any we’ve ever experienced. With the spring deadline postponed until July 15, it may … [Read more...]
Succession Planning for Solo and Group Medical Practices
Succession Planning Whether you are a solo practicing physician or a member in a larger group practice, it’s wise to begin thinking about succession planning. I have found in my consulting practice that many physicians seem to wait until the last minute to address the issue of succession. With … [Read more...]
Will my PPP loan be forgiven in whole or in part?
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) added the Paycheck Protection Program (PPP) to provide economic relief to small businesses nationwide adversely impacted by the Coronavirus Disease 2019 (COVID-19). The PPP is implemented by the SBA with support from the Department … [Read more...]
Dear Doctor: Is Now The Time For You To Make a Roth IRA Conversion?
For years, financial and tax advisors have lectured about the wonderfulness of a Roth IRA and why you should convert traditional IRAs into Roth accounts. But, of course, you didn’t get around to it. In hindsight, maybe that was a good thing. For many, the financial fallout from the COVID-19 crisis … [Read more...]