Category: Management
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Striking Your Best Deal: Things to Look at on the Front End of Negotiating an EHR Vendor Contract
Article Contributed by Christopher L. Richard, Gilpin Givhan, PC Backdrop Imagine you’re selling your practice . . . or leaving your practice . . . or retiring. You want to continue to have access to the patient records you’ve maintained through the practice over the years, and in fact, you have an obligation to do…
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Staff Retention Leads to a Successful Practice
I visit many practices throughout the year performing medical practice assessments. One of the first items to review is staffing levels, length of service and each staff member’s role. The administrator is a key component to engaging the staff. Increasing the level of staff engagement can raise productivity 20% and reduce the probability of a…
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Better Together: Physician-Lead, Team-Based Care
Working as a team is unquestionably the best and most efficient way to maximize the skill sets of a specific group of people. In medicine and depending on the particular needs of the practice, a team-based approach can include various combinations of physicians, nurses, physician assistants, pharmacists, social workers, case managers and other health care…
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Outpatient Visit Evaluation & Management Changes for 2021
For more than 25 years, the American Medical Association has utilized the 1995 or 1997 guidelines for Evaluation and Management (E/M) services in the Current Procedural Terminology (CPT). The E/M codes have expanded over the years but until now, there has been no update to the elements, in which, we choose a level of service.…
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What Are Some Common Challenges and Solutions for Medical Practices?
Regulatory compliance and technology are changing the landscape of the health care industry. New technologies, revenue cycles resolution and changes in leadership can all have a positive impact on your practice. Are you prepared to take on these new opportunities? In this article, Tammie Lunceford answers a few questions about how the landscape is changing…
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How Can You Use Financial Metrics to Improve Profitability?
There are many factors that can help your practice maintain financial profitability. It is especially important to review the structure of your financial statements to properly assess and optimize the health of your practice. Recently, we sat down with one of our healthcare experts, Miko Kulovitz, to discuss how important financial reporting can be to…
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The Delivery and Confidentiality Challenges in Rural Health Care Explained
Medical practices in rural settings face a host of concerns, such as how emergency protocols may differ from urban areas, difficulty in finding nurses (according to a recent Friday Letter from the Alabama Hospital Association, registered nurses are the third most in-demand jobs), and difficulty in finding appropriate training for staff. In small towns/rural settings,…
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Don’t Forget Your Risk Assessments!
Many medical practices are planning their Security Risk Assessments for the new year. Whether to better qualify for the 2019 Merit-based Incentive Payment System (MIPS) or to fulfill obligations to comply with the HIPAA Security Rule, a strong strategy now will reap benefits later. It’s a good time to remember what is required when conducting…
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How to Tell If There Is a Problem with Your Accounts Receivable and How to Fix It
You can’t correct a problem if you don’t know it exists. Physicians usually spend the day focused on patients and patient care so it can be difficult to spot A/R inefficiencies unless key performance goals are in place. Specific reports should be generated each month to analyze the practice collection performance. Warning Signs of a…
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The Tax Cuts and Jobs Act: How It Still Affects You
Editor’s Note: This article is a follow-up to The Tax Cuts and Jobs Act – How Will It Affect YOU? published in the Winter 2018 issue. On Aug. 8, the IRS issued proposed regulations for the newly created Section 199A 20 Percent Qualified Business Income (QBI) deduction. 199A has been one of the most talked…