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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Case Study: Mr. TR’s Patient Portal Use Becomes Inappropriate
Mr. TR established care with you about 18 months ago. At the first visit he set up his patient portal. Initially he used the portal to … [Read More...] about Case Study: Mr. TR’s Patient Portal Use Becomes Inappropriate
Why Revenue Matters Most
As a CPA and business advisor to medical practices, I am often called to diagnose the cause of financial underperformance. Common themes … [Read More...] about Why Revenue Matters Most
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Case Study: The New Practice Administrator
PM has been with a practice for 18 months. He has great credentials and can handle the finances, regulatory requirements, and computer issues. The … [Read More...] about Case Study: The New Practice Administrator
Phone Tree Best Practices
Virtually every patient satisfaction survey reveals patients’ dissatisfaction with getting through on the phone to their healthcare … [Read More...] about Phone Tree Best Practices
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
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
Leaders Have Difficult Conversations
Doling out praise is easy, or at least it should be. Those on the receiving end almost always take good news well. Having a difficult conversation, … [Read More...] about Leaders Have Difficult Conversations
Pedestals are for Statues Shared Respect Builds Relationships
Can a doctor be a hero? Definitely. What about a nurse? Absolutely! But, let's not forget everyone else who may perform heroic actions or in … [Read More...] about Pedestals are for Statues Shared Respect Builds Relationships
Case Study: Embezzlement by Front Office Staff
PR works the front desk. She checks people in and collects copays at a geriatrics office. She is always pleasant, and the patients love her. She is … [Read More...] about Case Study: Embezzlement by Front Office Staff
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?
Things I Wish I Learned In Medical School
Learn the 12 Things I Wish I Learned In Medical School. If you would like a PDF download of any of the checklist, please join Smart Business Great … [Read More...] about Things I Wish I Learned In Medical School