Connections for Success

 

Health Care

11.29.21

The Telehealth Tax Checklist
Jason Flahive

Your telehealth tax questions, answered Health care practices implementing telehealth often focus their efforts on the marketing, technology, security and logistics of providing health care services to their patients and occasionally overlook tax and state regulatory considerations. The very nature of telehealth, which allows for patient care delivery across state lines, requires a careful analysis […]

10.18.21

Challenges to Recognizing Revenue for Telehealth Visits
Laurence Sophian

Revenue recognition is difficult at the best of times — if the number of resources on the topic across the Internet is any indication. However, when it comes to telehealth, revenue recognition can seem downright impossible. After all, you are performing a healthcare visit, potentially across thousands of miles. You do not only have to […]

08.09.21

Proactively Overcoming Industry Challenges
Kevin Omahen

With the onset of COVID-19, all industry sectors have been dealing with a multitude of issues. In the health care sector, practices have not only been faced with employee retention issues, but also practice management issues which will be discussed below. Challenges and solutions In looking at the top challenges that medical practices face, the […]

07.07.21

Co-Management Arrangements: Rewarding Quality and Efficiency Can Be a Win-Win

When arranged and implemented successfully, co-management arrangements facilitate cooperation among hospitals and physicians that improve the services provided to patients. As a result, the hospitals and the physicians are better positioned for success under the evolving healthcare payment regime, which focuses on paying for the value of services provided instead of volume alone. This model […]

04.07.21

Keys to Improving Your Revenue Cycle
Kevin Omahen

Revenue cycle management (RCM) is one of the most complex medical office tasks. There are layers of steps involved in the process and roadblocks may be encountered throughout the entire process. Luckily, there are ways to apply the standard principles of professional RCM to improve your office’s ability to get paid in a timely manner. […]

03.12.21

Is It a Good Time to Buy a Practice? Consider These Factors Before You Make the Leap
Laurence Sophian

Even in times of economic uncertainty, there may still be opportunities for growth. While some medical practices are struggling, others are doing well and may even want to expand their operations. If you are considering acquiring a practice, you will first need to know its value. In addition, a buyer needs to take several specific […]

02.24.21

A Good Business Plan Can Help Your Practice Thrive

There is a reason that physicians typically do not have an MBA. For most physicians, business is far from your primary function — healing is your business. But whether you are obtaining loans to expand your practice or simply setting up operations, generating a business plan makes sense. And with the current economic uncertainty brought […]

01.21.21

Seven Steps to Handle a Down Economy
Kelly H. Buchheit

The COVID-19 pandemic has had many ramifications. One of these has been a down economy that has affected many sectors of our society — including medical practices. Physicians have felt the effects as patients have lost jobs and health insurance, been reluctant to visit doctors’ offices because of fear of infection and shifted to saving […]

12.09.20

How Can You Avoid “Paralysis” When Making Key Decisions?
Laurence Sophian

How many times have you wanted to improve some aspect of your medical practice but found yourself unable to take the necessary steps? How many times has a staffer come to you with an idea and been told, “Okay, let me think about that.” But, rather than decide, the hectic nature of running a busy […]

11.16.20

Prevention is the Best Medicine: How to Reduce Your Risk of a Malpractice Lawsuit

We live in a litigious age — approximately 15% of all personal injury and wrongful death lawsuits filed throughout the nation result from medical malpractice. This translates into roughly 20,000 medical malpractice claims filed each year, despite estimates that up to 120,000 annual cases of medical negligence occur. It is likely that 1 in 14 […]

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