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.

What Can You do to Prevent Employee Fraud?

It is important for medical professionals to be aware of the potential for employee fraud in their practices and to ensure that their internal controls are designed to provide maximum protection. This article explains the most common types of employee fraud and lists several steps management can take to keep it from happening, such as conducting a risk assessment, separating staff duties and monitoring employee behavior.

Bring it On: Adding an Associate or Partner to Your Practice

A practice may consider adding an associate or partner for many reasons — from an increase in practice volume, preparing for retirement or even an eventual sale. In any case, careful consideration of the pros and cons is necessary to ensure there are no regrets down the road. This article looks at some steps to take before making this significant decision, including a thorough analysis of practice goals and how to find a good match.

Giving Your Revenue Cycle an Annual Checkup

If a practice does not know whether its revenue cycle management system is functioning, it might be headed for trouble. In such cases, the practice may want to perform a checkup of its system. This article notes that a systems review can help keep performance in high gear and maximize revenue. A Sidebar warns of the necessity of ensuring that providers abide by their contracts.

How to Maximize Your Practice’s Financial Health

Few medical practices operate at peak financial health simply because the actual processes of many patient-focused tasks have not been evaluated. Many of these processes ultimately affect profitability. However, if you take a systematic approach to these procedures, you will not only improve your patients’ experiences but also your bottom line and both your personal and staff satisfaction.

Clinical Co-Management 101

As reimbursement is changing to reward for value and quality of care, hospitals and physicians have found themselves being incentivized to become more closely aligned. Clinical Co-Management is an arrangement to recognize and reward medical groups or physicians for these efforts. This article notes the most common method to setup co-management arrangement, along with several hurdles that must be considered.

RISKY BUSINESS: Employees vs. Independent Contractors

As the economy suffered, many employers attempted to save money and gain flexibility by utilizing independent contractors as opposed to employees. Using independent contractors can save employment taxes and benefits costs while also allowing for more flexible work arrangements if work levels are sporadic or uncertain. However, misclassifying an employee as an independent contractor can result in severe tax costs for the unwary.

Health Care Group Newsletter – Spring 2017

ORBA’s Health Care Group Newsletter is a quarterly publication focused on effective health care practice management. The Spring 2017 issue includes two articles: “Taking Care of Business: Four Strategies for a More Dynamic Medical Practice” and “Catching Up with Meaningful Use in 2017.”

Health Care Group Newsletter – Summer 2015

ORBA’s Health Care Group Newsletter is a quarterly publication focused on effective practice management. The Summer 2015 issue includes two articles, Going boutique? How Concierge Services Can Work and How to Avoid Data Breaches in Your Practice.

Health Care Group Newsletter – Winter 2015

ORBA’s Health Care Group Newsletter is a quarterly publication focused on effective practice management. The Winter 2015 issue includes two articles, Reap the Benefits of Non-Physician Providers (NPPs) and Improving Your Profits with Proven Business Practices.

Health Care Group Newsletter – Fall 2013

The traditional physician practice model is changing. Single or small numbers of physicians in private practice are finding it more and more difficult to retain independence. Some are even considering leaving the practice of medicine. Before one gets to that point, however, this article offers several suggestions for consideration on innovative ways you can reinvigorate your practice.

ORBA Names New Directors

CHICAGO — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest accounting firms, is proud to announce that Greg Koelling, CPA, and Brandon W. Vahl, CPA, CFE have been elected as Directors, effective July 1.