Practice Management

Increasing Your Medical Practice’s Revenue May Be Easier Than You Think

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.

Cyber Security: Are You on Guard?

Online and offline data security continues to challenge large and small businesses, costing companies money — real money. Unlike consumers, businesses do not enjoy the same protection when they experience fraud on their commercial bank accounts. It’s critical that businesses know their liability and responsibility when dealing with cyber fraud.

So You Want to Open Your Own Practice?

With the ever-increasing number of rules and regulations that doctors face from several different governing authorities, many doctors just leaving medical school are opting to work for others as employees. However, there are those spirited entrepreneurs who want to run their own medical practice.

Changing Your Medical Practice’s Bottom Line

Answers to questions about why you would want to change your medical practice’s bottom line should be obvious: To increase revenue and decrease expenses. However, this can be easier said than done. This article addresses a few examples regarding increasing revenue and decreasing expenses.

Can Coaching Help Your Medical Practice Manager?

Many business executives use a professional coach to enhance their skills and improve their bottom line. There are physicians in the San Antonio area who have a coach, and perhaps it’s time for the practice manager to have a coach, too. It doesn’t matter whether the practice manager has two years or 20 years of experience. Having a third-party coach allows the practice manager the opportunity to talk with another medical practice executive in a non-threatening setting to discuss concerns and ideas they may not otherwise discuss with any other staff member, including the physician.

The IRS and Physicians

The Internal Revenue Service (IRS), along with the U.S. Department of Justice, has launched a massive effort to identify and prosecute tax evaders from the medical profession. A major emphasis is to initiate criminal investigations and perform audits of thousands of healthcare providers, focusing on issues such as tax shelter schemes, concealment of income and excessive deductions.

GreenLight Smooths Path to Treatment of Unmet Behavioral Health Needs

Mental health and substance use disorders remain underdiagnosed and undertreated in the United States. An easy-to-use tool that interfaces with physicians’ EHR and fits seamlessly within practice workflow, the GreenLight Assessment System is alleviating barriers to behavioral health care.

Treasury Management Services Are Smart Strategies That Can Save Your Practice Money

Many physicians and practice managers are so focused on the day-to-day operations of their medical practices, such as caring for patients and submitting insurance claims, that they often don’t focus on how they can enhance their overall business strategies.

Penny Wise, Pound Foolish

Most physician practice leaders are cost-conscious.

Healthcare Law Update: The Yates Memo and Individual Accountability in Healthcare Fraud Cases

Recently, Sally Yates became a household name when, as acting U.S. Attorney General, she announced that the Department of Justice (DOJ) would not defend President Trump’s immigration and refugee ban. For healthcare industry insiders, Yates should be better known for a memo drafted in September 2015. Originally directed at the financial sector, these instructions have had a significant impact on the healthcare community and should be fully understood for both their corporate effect and individual applicability.