Are you paying staff in line with the national benchmarks? Here’s our ninth annual Staff Salary Survey, where 1,082 respondents (practice managers and physicians) let us know how much each of their staff members earn. Here are a few highlights:
The most common way practices have managed EHRs is keeping that responsibility in-house, meaning that the role is “owned” by an internal employee, according to Derek Kosiorek, principal consultant with the Medical Group Management Association’s Healthcare Consulting Group.
The government’s involvement in healthcare has forcibly changed the way practices care for its patients. In the past few years, the government has mandated practitioners implement and use EHRs through the Meaningful Use program, comply with the Physician Quality Reporting System and Value-based Modifier program. It later introduced the Medicare Access & CHIP Reauthorization Act (MACRA) to regulate Medicare payments, compiling those programs while adding additional requirements.
A good recruiter will weed through the candidates and give you just a few (no more than three) who appear to be a good fit for you and your practice. Additionally, seasoned recruiters will do thorough reference checks and logistical coordination of interviews, which frees up your already tight daily schedule. They also are great at being the “go-between” when it comes to compensation negotiations, so after the hire is made there is no bad blood between employer and new-hire. Of course, when it comes time for the interview, there are several items you need to ensure are covered.
Two commonly overlooked areas of most doctors’ legal and financial planning is their asset protection and risk management planning. As money comes in and doctors move from debt to the surplus and profit phases of their careers, issues like tax, investment, and estate planning will most often get addressed. Unfortunately, protecting that accumulated wealth, its sources, and reducing predictable risks are often overlooked. Now, let’s get to the case study. As a note, all non-material details have been changed to protect the client.
I have a few simple rules in the office. Patients who make a good faith effort will be treated regardless of the office balance. I have one elderly gentleman with severe problems that generally result in him being hospitalized several times a year. He has little or no income, yet every month he sends a few dollars due from his bill.
In case you missed the big hoo-ha last year, Health and Human Services Inspector General Daniel Levinson announced the release of new guidelines for handling improper coding and billing issues and overpayments. Here is a video of his announcement from the stage of the Health Care Compliance Association’s Annual Conference.
While most doctors are aware of their malpractice risk and are at least partially insured against it, there are many other legal risks related to running a medical practice that they overlook. Here are some other vital risks to be aware of and manage before they become a crisis.
Efficiency is a major key to success, especially when it comes to medical billing. Make your practice’s financial policy clear, defined, and reinforced—both to your patients and to your staff.
QuickBooks allows the user to record receipts and disbursements throughout the year, but do you wonder now that half the year is over…where am I? Certain reports, produced or filtered, can provide you with very insightful data. Do you wonder how things compare to last year or the year before last or the year before […]