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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Practice Buy-Ins: Don’t Ignore the Real Estate
When buying into a medical practice, it is common to have the opportunity to buy into the medical office building as well. The practice … [Read More...] about Practice Buy-Ins: Don’t Ignore the Real Estate
Could Rural Medicine’s Approach to COVID-19 Solve Long-Standing Disparities in American Healthcare?
Rural areas face numerous challenges that are being amplified by the COVID-19 pandemic. In rural America, we have older populations, a … [Read More...] about Could Rural Medicine’s Approach to COVID-19 Solve Long-Standing Disparities in American Healthcare?
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Fixed Vs Variable Expenses
If you want to improve your financial performance, the first step is understanding what your practice financial statements are telling you. Your … [Read More...] about Fixed Vs Variable Expenses
Case Study: Employees Working at Different Speeds
CR and AT both work in triage for a practice. CR has been with the practice for 5 years and makes $2.00 more per hour than AT who has been with the … [Read More...] about Case Study: Employees Working at Different Speeds
Case Study: Unnecessary Overtime
VT is a biller for a small practice. She has been with the practice for just 2 years but has worked in healthcare billing for over 20 years. She … [Read More...] about Case Study: Unnecessary Overtime
Case Study: Dr. MA Has More Callbacks
Although Dr. MA’s practice provides postprocedure instructions to all patients, she has not ever really paid attention to what is included on these … [Read More...] about Case Study: Dr. MA Has More Callbacks
The Credentialing Process for Insurance Carriers
Requirements for credentialing with both governmental and private insurance have expanded over the years. It is vital to keep this information up to … [Read More...] about The Credentialing Process for Insurance Carriers
Appointment Reminders
Almost every office and hospital use patient appointment reminders. Some are poor, others mediocre, and some do a relatively good job. In the present … [Read More...] about Appointment Reminders
Preventing Fistful of Dollars Embezzlements
Lucrative embezzlement schemes perpetrated by individuals trained in the management of your books are very real threats. This is not just the stuff of … [Read More...] about Preventing Fistful of Dollars Embezzlements
What Do Physicians Need to Know About Website Development?
Just like physicians, web developers have their own specialized jargon, including terms like responsive design, search engine optimization … [Read More...] about What Do Physicians Need to Know About Website Development?
Using Research to Engage Patients
Traditional Engagement for Research Traditionally, basic science research and clinical research have been performed in the university setting. … [Read More...] about Using Research to Engage Patients