There has been a flurry of legislative activity since the beginning of the pandemic one year ago. One item that might have flown beneath your radar is the federal Employee Retention Credit (ERC). If your practice was shut down by government order and/or suffered a 50% or more decline in revenue in 2020, then you may be eligible for a $5,000 per employee tax credit. The credit is calculated as 50% of the first $10,000 in wages paid to each employee during the shutdown/revenue decline period. This credit is captured by amending … [Read More...] about Employee Retention Credits
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Managing Patient No Shows
Managing patient no shows are a big problem, with many clinics facing no-show rates as high as 30%. This has been an even bigger problem … [Read More...] about Managing Patient No Shows
Why is a Business Continuity Plan Important?
A Business Continuity Plan (BCP) defines the who, what, when, and where for how your medical practice personnel are to respond to a … [Read More...] about Why is a Business Continuity Plan Important?
Latest Articles
Do Physicians Know How to Analyze Financial Statements?
Effective Analysis of Your Practice Financials—Think Big, Then Small A typical profit and loss statement may contain 30 or more different expenses … [Read More...] about Do Physicians Know How to Analyze Financial Statements?
Prevent Embezzlement by Sweating the Small Stuff
There are more ways to separate you from your money than you can imagine. Novel embezzlement strategies occur but are likely rare. Much more … [Read More...] about Prevent Embezzlement by Sweating the Small Stuff
Engaging Patients With Staff Engagement
An Engaged Staff Engaging patients is vital for optimal care and numerous programs and educational sites are dedicated to this laudable goal. In … [Read More...] about Engaging Patients With Staff Engagement
Technology Needs to Solve Problems—Not Amplify Them
The disaster that is the COVID-19 pandemic will leave large numbers of chronically ill patients requiring treatment for lung scarring, neurologic … [Read More...] about Technology Needs to Solve Problems—Not Amplify Them
Great Leaders: Consensus Makers or Dictators?
Got an issue that needs to be dealt with in the office? Everyone does—that’s why we created SBGM. Great leadership requires effective management … [Read More...] about Great Leaders: Consensus Makers or Dictators?
Using Payroll Protection Program Money
The Payroll Protection Program (PPP) is a Small Business Association program funded by the CARES act. It was enacted as part of the federal … [Read More...] about Using Payroll Protection Program Money
Case Study: NQ Felt She Was Best for the Job
NQ has been with the practice for 10 years and has always been a dependable employee. She works in billing and typically has limited interaction with … [Read More...] about Case Study: NQ Felt She Was Best for the Job
Planning a Comeback? Let us Help.
Covid-19 is changing our world forever. Every healthcare practice looks drastically different than 6 weeks ago. Before the pandemic, health … [Read More...] about Planning a Comeback? Let us Help.
COVID-19 Will Change the Medical Workspace: Back Office Design
Our offices probably never will be the same after COVID-19 and in truth, our practices shouldn’t be the same. In fact, our offices should have been … [Read More...] about COVID-19 Will Change the Medical Workspace: Back Office Design