Head Off Problematic Physician Behavior at the Pass
Of the issues and problems that can arise in a medical practice, disruptive behavior on the part of a physician is one of the most difficult to address.
How to Avoid HIPAA-Related Data Breaches
Data breaches are as prevalent as ever. News of large-scale breaches, such as tech-giant Facebook and insurance company Anthem, are popping up on the news nearly every week. Medical practices are often easier targets because of the personal and financial data available.
Mastering Your Patient’s Appointment Scheduling
Good patient scheduling is both an art and a science. The goal is to determine the right amount of time to devote to each patient while limiting wait time. Obviously, efficiency is a goal, but not at the expense of caring for patients
The Pros and Cons of Offering Ancillary Services
Many opportunities may arise in a physician practice for providing ancillary services, depending on the nature of that practice as well as the physicians’ interests. A short list includes anesthesia, diagnostic testing, endoscopy, pain management and physical therapy. Before deciding whether to offer ancillary services, however, physicians need to answer two questions:
Accident Versus Intention: Six Ways to Improve Office Protocols
All too often, protocols in a medical practice evolve by accident. A person decides that something should be done a certain way, everyone follows suit and it becomes standard operating procedure. However, it is better to intentionally assess your processes and develop systems that can be used as guidelines for meeting your practice’s goals.
The Vital Signs of Your Practice: Choose and Use the Right Key Performance Indicators
In the age of big data, it is possible to measure anything and everything, ranging from the number of patients per day to the amount of time spent on phone calls. So, what should your medical practice measure?
What are the Elements of a Medical Practice Business Plan?
Physicians typically generate business plans at two junctures in their practice’s development — when they want loans, or when they want start-up capital. In other words, physicians tend to get serious about a business plan only when they need to go to a bank and ask for money. Knowing the key elements of a business plan will help you construct an effective, comprehensive plan for your medical practice.
How the Tax Cuts and Jobs Act May Affect Physician Practice Owners
Signed into law this past December, the Tax Cuts and Jobs Act (TCJA) is the most sweeping federal tax legislation since 1986. It includes significant changes for individual taxpayers, many of which will have a major impact on higher-income taxpayers, such as physician practice owners. Here are some of the most notable changes.Signed into law this past December, the Tax Cuts and Jobs Act (TCJA) is the most sweeping federal tax legislation since 1986. It includes significant changes for individual taxpayers, many of which will have a major impact on higher-income taxpayers, such as physician practice owners. Here are some of the most notable changes.
Private Practice Owner or Hospital Employee?
More physicians are currently employed by hospitals or medical practices than ever before, while fewer are in private practice. According to a 2016 Medscape report, physicians as a group have shifted from private practice to being employed with the rate of employed physicians growing by more than 30% from 2000 through 2016.
Should You Outsource Billing?
Deciding to handle your billing in-house or hire an outside billing company is an important decision with significant implications for your practice’s long-term financial health. It is a good idea to look at all of the pros and cons to ensure your decision is the right one.