01.20.22

What Can You Do About Claim Denials?
Kelly H. Buchheit

Among the most essential characteristics of a financially healthy medical practice is claim acceptance and timely payment. In the current volatile economy, it is even more important to ensure that your billing process runs smoothly and that you avoid bumps in the road caused by too many claim denials. Here are some ways to increase […]

01.19.22

Considering New Office Space
Kevin Omahen

Where your not-for-profit organization is located and how you use the space you have can make a significant difference in the overall success of the organization. This was even more apparent in the past year when offices were not utilized at all, yet lease or mortgage payments were still due.   Even with the economy […]

01.13.22

Is Bridge Financing Right for You?
Kathy Z. Jeziorski

Bridge loans can supply short-term financing before developers and investors cement long-term financing. Their popularity surged during and in the wake of the Great Recession — and that popularity has continued till this day. But if you are considering obtaining a bridge loan as part of a new deal or a refinancing, or for on-site […]

01.12.22

Worried You Do Not Have Enough To Retire? Consider Working a Little Longer
Maureen Callahan

If you are concerned about funding your retirement, consider working a little longer. A recent study confirms what financial advisors have been saying for years: Extending your work life — even for a short time and even at a reduced salary — can have a major impact on your desired lifestyle once you do retire. […]

12.23.21

What Is Happening With the Employee Retention Credit?
Robert Swenson

On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act (IIJA) into law. One of the Act’s provisions terminated the Employee Retention Credit (ERC) retroactively to September 30, 2021, except for eligible “recovery startup businesses.” Previously, the ERC was scheduled to continue through the end of 2021, which would have allowed eligible […]

12.22.21

New Lease Accounting Standard is Finally Here — Are You Ready?
Stephanie Zaleski-Braatz

After repeated postponements by the Financial Accounting Standards Board (FASB), the new lease accounting standard is finally set to take effect for private companies for fiscal years beginning after December 15, 2021 (2022 for calendar year-end companies). Found in Accounting Standards Codification (ASC) 842, the new standard applies to all businesses that report their financial […]

12.16.21

Welcome to the Gig Economy! Now, Calculate Your Taxes

One of the most dramatic effects of COVID-19 on the U.S. economy is the increase in popularity of “gig” or freelance work. Gig workers include those performing essential jobs, such as delivering groceries to socially-distancing consumers. Others used their specialized skills to develop consulting and other independent businesses. According to the independent talent provider MBO […]

12.15.21

South Dakota v. Wayfair – Economic Nexus and Manufacturers’ Sales Tax Obligations
Seamus M. Donoghue

It has been more than three years since the U.S. Supreme Court’s landmark decision in South Dakota v. Wayfair. In that case, the Court held that a state may require out-of-state sellers to collect and remit sales tax even if they lack a physical presence in the state. Since then, nearly every state with a […]

12.13.21

Five Financial Strategies To Improve Your Practice’s Profitability

The COVID-19 pandemic negatively affected many physicians’ practices in 2020 — and even continued into 2021. As medical practices begin to rebound, this is an especially good time to evaluate your financial strategies to determine what is still working and what needs to be improved. Related Read: Proactively Overcoming Industry Challenges Is there room for improvement? […]

12.03.21

Are You Using Paralegals Effectively?

Sometimes, attorneys do work that can be accomplished effectively and efficiently by paralegals. This can create a culture of staff members performing tasks for which they are overqualified, which can reduce the firm’s profitability. This blog highlights some considerations to address such concerns. Related Read: How To Get Stuff Done Determine the scope of responsibility The […]