Do you want a dynamic practice?

Management expert Peter Drucker famously said, “If you can’t measure it, you can’t improve it.” Within a medical practice, it’s possible — though not necessarily desirable — to measure anything and everything, ranging from the number of patients per day to the amount of time spent on phone calls. So what should your medical practice measure?

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Topics: Accounting Tips, Healthcare, medical, practice

Seven more tips and tricks for SEO

Posted by Victoria Hernandez, Communications on May 30, 2018

The more people come to your site, the more likely they are to become clients or customers. Continuing to drive people to your site is beneficial for your overall business. In this last installment of the search engine optimization (“SEO”) series, we’ll be covering a few more tips that will help bring traffic to your site again and again.

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Topics: Auto, Manufacturing & Distribution, Real Estate, Not-for-Profit, Healthcare, Construction

User experience and your website

Posted by Victoria Hernandez, Communications on Apr 25, 2018

Welcome to the next blog post in a series of best practices for search engine optimization (“SEO”) and your organization’s website. We’ll discuss user experience (“UX”): what it is, what it means, and what you can do to help potential clients gain a better understanding while visiting your website. We’ll also go over user interface design (“UI”) and how it relates to UX.

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Topics: Auto, Manufacturing & Distribution, Real Estate, Not-for-Profit, Healthcare, Construction

Four basic SEO practices

Posted by Victoria Hernandez, Communications on Mar 26, 2018

In a series of SEO, we’ll discuss different tasks you can do in order to help maximize traffic on your site.

Let’s start from the beginning. What is SEO? SEO stands for search engine optimization. What does that mean? Search engines like Google, Bing, and Yahoo all use algorithms that decide how to rank sites on their pages, and SEO is the process that helps your site rank closer to the top of the page.

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Topics: Auto, Manufacturing & Distribution, Real Estate, Not-for-Profit, Healthcare, Construction, consulting

Adding on to your practice

Is it time to bring on an associate or partner? There are many reasons you might consider it. For example, your practice might have become so busy that you have little time with your patients. Perhaps your practice volume has grown so much that you need help managing it, or maybe retirement is around the corner and you’re thinking about eventually selling.

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Topics: Accounting Tips, Healthcare, Financial

Keeping the employer and the employee content

Posted by Dawn Möeder, CPA of England and Wales on Aug 23, 2017

Like many industries, the manufacturing industry has fallen to the provisions of the Affordable Care Act (“ACA”) and the updated Department of Labor overtime regulations. Many companies are struggling to maintain their overhead, comply with regulations, and pay for the ever-increasing health care costs, all the while attracting and retaining skilled workers. If you have felt the heat, you are not alone. According to the 2016 Manufacturers’ Outlook Survey, a lot of companies are dealing with these same concerns.

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Topics: Manufacturing & Distribution, Accounting Tips, Tax, Healthcare

Prescription for an ailing practice

Managed care, Medicare and Medicaid reimbursements, and the Affordable Care Act (ACA) all present challenges for a medical practice. On the other hand, many problems that arise are self-inflicted. Is your medical practice not performing as well as expected? Are revenues dropping? Are you having problems covering costs? Take a hard look at your practice and diagnose the problem. To help put you on the road to recovery:

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Topics: Accounting Tips, Tax, Healthcare, Audit

Working without a net

Coding after the end of the ICD-10 grace period

After the transition from ICD-9 to ICD-10 went into effect in October 2015, the Centers for Medicare and Medicaid Services ("CMS") allowed medical practices a one-year “grace period” in which to get up to speed with the new reimbursement codes. During the past year, physicians have had a safety net when they’ve made mistakes. But effective October 1, the grace period is over.

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Topics: Accounting Tips, Tax, Healthcare

Defining Net Investment Income under the Affordable Care Act

The 3.8 percent net investment income tax (“NIIT”) under the Affordable Care Act (“ACA”) has been in effect since 2013 and remained in effect for tax year 2015 and beyond. The taxpayer is liable for NIIT on the lesser of their net investment income (“NII”), or the amount by which their modified adjusted gross income (“MAGI”) exceeds the threshold based on filing status.

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Topics: Accounting Tips, Tax, Healthcare

How to Communicate Financial Information to Patients

The wave of health care reform has led to a closer focus on the need for clear, consistent, and transparent communication of patient financial information. Thus, the Healthcare Financial Management Association ("HFMA") has developed “Patient Financial Communications Best Practices” for improving and standardizing how health care organizations should communicate with patients about their financial responsibilities. The guidance covers several areas of critical importance for community hospitals.

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Topics: Healthcare