Look for payroll bloat when reducing physican practice overhead

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Look for payroll bloat when reducing physican practice overhead

From Reed Tinsley, 1 year ago, Read 0 times. Similar articles

Think your operating overhead is as low as it can get' Think again. There's always something that can be tweaked to reduce overhead. To assess overhead, complete a financial analysis that compares it as a percentage of collections. Also, compare it to prior-year statements (both total and per area) and benchmarks. Once a comparison is complete, look for areas that can be reduced. Payroll Opportunities for reduction often appear in practice payrolls. If payroll costs seem too high,... Read more

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FMV compensationand work RVUs

From Reed Tinsley, 2 year ago, Read 0 times. Similar articles

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 upon an MGMA survey. Each physician will be expected to meet... Read more

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New Lean Six Sigma Book Takes Medical Practices 20 Years Ahead in Profitability

From Reed Tinsley, 2 year ago, Read 2 times. Similar articles

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 Frank Cohen and Practice Management Expert Owen Dahl. The book,... Read more

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Death and NPI

From Reed Tinsley, 2 year ago, Read 0 times. Similar articles

I had this posted on my blog site. Not knowing the answer, I posed it to my colleagues at the National Society of Certified Healthcare Consultants (www.nschbc.org); their answers follow the blog post: Have a provider who is deceased after... Read more

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Jury duty

From Reed Tinsley, 2 year ago, Read 0 times. Similar articles

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 be a community obligation except in those rare cases when such... Read more

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Performing your own internal coding audit

From Reed Tinsley, 2 year ago, Read 0 times. Similar articles

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 internal, you're comparing your physician's billing records, claims, and medical... Read more

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Beyond Co-Pay: Upfront Bills at the Doctor's Office

From Reed Tinsley, 2 year ago, Read 0 times. Similar articles

Insured patients typically expect to make a small co-payment when they see a doctor, and later get billed for anything else they owe. But physicians no longer want to wait for their money. The Wall Street Journal reported last month... Read more

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Two-Thirds Don't Have a Financial Plan

From Reed Tinsley, 2 year ago, Read 0 times. Similar articles

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 2009 National Consumer Survey on Personal Finance. The survey, released today by the Certified Financial Planner... Read more

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Write out your physician group's retirement policy

From Reed Tinsley, 2 year ago, Read 0 times. Similar articles

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's needs as a whole above the needs of the individual physician.... Read more

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HIPAA acknowledgments

From Reed Tinsley, 2 year ago, Read 0 times. Similar articles

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. The HIPAA privacy rule requires covered entities to obtain an acknowledgment when... Read more

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Can a managed care contract really be negotiated or renegotiated'

From Reed Tinsley, 2 year ago, Read 0 times. Similar articles

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 since it appears managed care companies hold the upper hand most of... Read more

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