Physicians as business owners suffer from the same employment-related issues as other small business owners. Unfortunately, this can sometimes include employee lawsuits. There are five big reasons employees sue their employers: 1) unfair dismissal; 2) wage and hour violations; 3) retaliation; 4) harassment; and 5) discrimination. By following good practices, a business owner can avoid these land mines.
Even considering the time commitment required to maintain a quality employee handbook, there is little question that employee handbooks can be priceless in solving problems, resolving issues and providing benefits to employers and employees alike.
Dina Petrutsas, CPA
Many physicians may recall years ago when commercial insurance payers paid a percentage above the CMS Allowable, and Medicare was one of their lowest payers. Today, for many small groups and solo physician offices, Medicare is their best payer. This change has caused...
When you review your December 2018 billing reports, take a close look at your A/R Aging Report to determine the amount of unpaid money in the 120-plus-day bucket.
To become a physician takes exceptional dedication and focus. Doctors acquire a vast quantity of medical knowledge but too little in the business management area. In today’s environment, business issues can dominate the running of a medical practice. It is important for you to be aware of common mistakes that are made in operating a practice, and even more importantly, to address the possibility that you are making some of these mistakes.
Your recruiting process started months ago, the new physician has executed the employment agreement and now it’s time for the new physician to join the practice. If your practice doesn’t have an onboarding checklist, now is the time to develop it.
No matter the size of your medical practice, staff turnover can cause problems if there aren’t enough staff members to ensure patient appointment demands are met. Could some of the turnover be prevented if we took a different approach to managing our practice?
Does your staff think those who work in the Billing Department are the only staff members responsible for the revenue cycle? If they do, you may want to have an impromptu staff meeting to discuss how everyone plays a role in the revenue cycle.
Medical practice costs across the nation continue to rise — from increased wages for your staff in an ever-tightening job market, to rising employee benefit costs and increased overhead costs. At the same time, due to lower carrier reimbursement rates, you often must absorb these rising costs.
We have written other articles in the past about decreased revenue and increased expenses. It’s an issue every medical practice must understand and take steps to reverse the trends. Increasing your revenue could be as easy as getting rid of some bad employee habits or increasing your social media presence.
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