02.14.17

Use Management Letters to Improve your Business

Audited financial statements typically come with a surprise bonus that business owners might not be aware of: the management letter. This article describes what is required to be reported in the management letter, how a company can use it and the types of comments a CPA may voluntarily opt to report to demonstrate his or her commitment to the client’s success.

02.10.17

Harnessing Best Practices in Claim Denial Management

Claim denials are a huge financial drain on physician practices. If nothing is done to reverse a denial, the revenue that it represents is lost to the practice. Attempts to manage and resolve the denial can cost an average of $25 to $30 per claim, according to the Medical Group Management Association (MGMA). In this blog, we take a look at some best practices you can employ to help manage claims denied by payers.

02.09.17

Meet the Team: Chris Arndt

In our newest feature, “Meet the Team,” we introduce you to some of ORBA’s talented accountants and tax professionals. In this edition, learn more about Chris Arndt, Director of the firm’s Cloud Services Group.

02.07.17

Understand Your Target-Date Fund Series

Target-date or lifecycle funds first came to market in 1994. Since then, they have experienced much growth with nearly every large financial institution today offering their own version of these funds. Along with target-date funds becoming a fundamental option of 401(k) plans, comes a fiduciary responsibility to monitor and evaluate them, much like other plan investments. This article examines key characteristics plan sponsors and investment committees should know about target-date funds.

02.02.17

Beyond Benchmarks: Alternative Methods of Measuring Your Portfolio’s Results

This article looks at several ways to measure investment portfolio performance. The traditional method is to compare results with those of a relevant market index. However, some investors may be better off considering risk-adjusted results or even follow a goals-based approach.

02.01.17

Using KPIs as Your Ticket to Growth

We see measuring analytics as an essential tool to scale your business. And, if you are a loyal reader, you know we never go too long without writing about our beloved metrics. However, do you know which metrics are essential to your business and the stage of growth you are in? In this article, we provide a breakdown of some of the Key Performance Indicators (KPIs) for growth in common business models.

01.31.17

A Prix Fixe Serving of Best Restaurant Management Practices
Robert Swenson

Restaurant Week just arrived to showcase more than 300 Chicago area restaurants. Prix fixe menus of $22, $33 and $44 are offered for breakfast lunch and dinner. In honor of the festivities, our latest Restaurant Group blog is here to serve up a prix fixe menu of best restaurant management practices. Rather than an appetizer, main course and dessert, we will discuss regulations, finances and taxes.

01.24.17

Building and Maintaining a Memorable Law Firm Brand
Joy A. Long

Law firms that invest in creating memorable brands enjoy many benefits, including increased awareness in the marketplace and among their peers. This increased awareness often results in business development opportunities, enhanced recruiting visibility and stronger client relationships. This article explains how a law firm can use its brand to differentiate itself from its competitors and discusses ways to avoid failing to integrate a firm’s brand across the organization.

01.19.17

Ask the Advisor: Is Defeasance Right for Me?
Kadir P. Sunardio

As the real estate market has improved in many parts of the United States, and interest rates are poised to climb in the near future, many property owners are considering pursuing defeasance to exit their loans. Many, however, do not really understand what is involved. This article provides input on how defeasance works and when it is best to use it.

01.18.17

New Year, New You: Making Company Culture Deliberate

Company culture is an essential part of any successful business. Often in the midst of developing or growing a business, enhancing company culture may be overlooked. This, however, can be a missed opportunity to grow and strengthen your company. The better your culture is, the easier it is to not only attract top talent but to retain these employees. This blog provides five tips on how you can create a healthy company culture that will result in engaged, productive and satisfied employees.