New website under construction; almost finished
Physician CPA for medical practices in Houston
by rtinsley
4y ago
I’m sure you’ve noticed that I haven’t been blogging much lately. That’s because I’m excited to announce I have a new website design under construction and it’s almost finished. To aid in the transition, my old blog posts are being transferred over to the new site as you read this. The web designer wants me to halt blogging until the transfer it complete. I’m very excited about the new site and hope you will too when it goes live hopefully by the end of October. See ya again soon. The post New website under construction; almost finished appeared first on Physician CPA for medical practices ..read more
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Did you know you can go to IRS.gov for answers to questions about payments and penalties
Physician CPA for medical practices in Houston
by rtinsley
4y ago
Questions about tax payments and penalties come up all year long. Taxpayers can find most answers to these questions on IRS.gov. They can head over to the Let Us Help You page, which features links that take users to information and resources on a wide range of topics related to penalties and payments. Payments Payment options This page lays out the different way taxpayers can pay what they owe, from having the payment taken directly from their bank account to using a credit card.Payment plan Taxpayers who cannot pay what they owe in full have options, which are exp ..read more
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What Came First: The Happy Employee or The Happy Patient?
Physician CPA for medical practices in Houston
by rtinsley
4y ago
It is no secret; a happy team leads to more satisfied customers and patients.  Those that are engaged in their roles within the team and feel satisfied by the work they do, tend to give more on the job and care about the experiences their customers have.  In fact, when it comes to larger corporations, USA Today has found a correlation between employee engagement rates and stock prices.  So, what makes this connection a reality? In most cases, rewarding employees can pay off in the long run.  This works because: Employees will take pride in their work, and this is fueled by reward ..read more
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IRS Unveils New Tax Withholding Estimator
Physician CPA for medical practices in Houston
by rtinsley
5y ago
The IRS has unveiled its latest online tool, the “Tax Withholding Estimator.” The estimator, which replaces the “Withholding Calculator,” assists workers, retirees, self-employed individuals, and other taxpayers in determining how much income tax should be withheld from wages and pension payments. Among other things, the estimator features (1) plain language to improve user comprehension; (2) a mobile-friendly design; (3) enhanced tips and links on various tax credits and deductions; and (4) an automatic calculation of the taxable portion of any Social Security benefits. In addition, the ..read more
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Handling Unhappy (or Irate) Patients
Physician CPA for medical practices in Houston
by rtinsley
5y ago
The following is a situation that recently happened in a physician’s office:  A patient came in to complain about the “no show” charge of $50. The administrator along with the billing manager went out to meet with him. His first comment was that he only wanted to speak with the “top person” in the office. After consulting with the patient’s physician, the administrator took the patient in a small conference room and kindly said how she understood that he had a question about his bill. At that moment, you can expect what happens next – he wanted to know who she was in a belligerent voice and s ..read more
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Medicare’s Physician Fee Schedule Proposed Rule: Understanding 3 Key Topics Listening Session — August 12
Physician CPA for medical practices in Houston
by rtinsley
5y ago
Monday, August 12 from 1-2:30 pm ET Register for Medicare Learning Network events. Proposed changes to the CY 2020 Physician Fee Schedule are aimed at reducing burden, recognizing clinicians for the time they spend taking care of patients, removing unnecessary measures, and making it easier for clinicians to be on the path towards value-based care. During this listening session, CMS experts briefly cover three provisions from the proposed rule and address your clarifying questions to help you formulate your written comments for formal submission: Increasing value of Evaluation a ..read more
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Activation of Systematic Validation Edits for OPPS Providers with Multiple Service Locations
Physician CPA for medical practices in Houston
by rtinsley
5y ago
In MLN Matters SE19007 “Activation of Systematic Validation Edits for OPPS Providers with Multiple Service Locations” notifies providers that Medicare is now requiring the exact match of all addresses for practice locations that are listed on provider claim submissions to Medicare. Medicare began auditing in July 2018 for purposes of reinforcing Chapter 1, Section 170 of the Medicare Claims Processing Manual “Payments on the MPFS for Providers with Multiple Service Locations.” The exact address match will be in full and effect once the July 2019 quarterly release is implemented. Claims tha ..read more
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Market Share and Competitor Pricing from CMS Data
Physician CPA for medical practices in Houston
by rtinsley
5y ago
From my good friend and colleague Nate Moore: CMS recently released the 2017 Provider Utilization File.  That data provides an opportunity for savvy practice managers to get a sense of their market share, especially for Medicare patients.  The data can also help practices see what their competitors are charging for services, by procedure code.  The data is almost 10 million rows, but with Power Pivot you can analyze and drill down by city, state, and zip code.  Learn how to benefit from CMS’ data by listening to today’s BIG Ideas podcast.<https://mooresolutionsinc.com/july-2019-cms-prov ..read more
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PFS: Proposed Policy, Payment, and Quality Provisions Changes for CY 2020
Physician CPA for medical practices in Houston
by rtinsley
5y ago
On July 29, CMS issued a proposed rule that includes proposals to update payment policies, payment rates, and quality provisions for services furnished under the Medicare Physician Fee Schedule (PFS) on or after January 1, 2020. This proposed rule is one of several proposed rules that reflect a broader Administration-wide strategy to create a health care system that results in better accessibility, quality, affordability, empowerment, and innovation. It also includes proposals to streamline the Quality Payment Program with the goal of reducing clinician burden. This includes a new, simple way ..read more
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Managing by the Numbers
Physician CPA for medical practices in Houston
by rtinsley
5y ago
One of my prior articles cautioned readers on the use of overhead rates as a financial indicator of practice performance. A colleague of mine calls it “diddling” the overhead since overhead is an easy target in every medical practice. The point I want to make now is that numbers are important in managing a business. But never confuse fixating on numbers as managing the business. Numbers are data. What any manager needs is information. In many clinical situations, the numbers are information. In business situations, most numbers are data – the value a practice manager brings to the business ..read more
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