A Remit ATM Case Study #2: A Five-Day Delay between Payroll & Reimbursement from Biggest Payer
Keeping your metrics balanced is a vital step that DME managers that are serious about keeping their records clean and current are not willing to skip. However, metrics are just one determining factor that let you know whether or not your DME management plan needs tweaking. This particular article was written with those who feel like their metrics may be a bit too far gone for DME management alone.
Please see the video below to learn about a day in the life of the Provider Web Capital team!
In 2016 alone, an estimated 3-million baby-boomer adults will retire to their homes. While this seems like good news that may benefit the home health care field, it may not. What many people don’t know is that caregivers are leaving their posts due to underpayment and extreme levels of stress to deliver quality care with less than fair wages and compensation.
As the years go on reimbursements get slimmer and slimmer. Options for medical reimbursement are becoming a thing of the past. Let’s face the music—reimbursement options are getting worse for people in the homecare field.
Provider Web Capital is excited to announce its continued monthly origination growth, with year to date originations up 184% from the same period in 2015. Transactions of note are highlighted below:
Homecare is not the same dreaded means to an end that it was just a few decades ago. Technology has become more reliable and medicine is more readily available for those who choose to receive care and treatment from the home.
Now that tax season is upon us, managing your firm’s cash flow becomes an even more pressing issue. Having the tools to combat these problems will reduce business owners’ worries and strengthen the confidence of the employees in the firms operations. This is no easy task, particularly for healthcare providers. Tax laws and regulations are quite stringent, and your time is much better spent focusing on growing the business. Follow these key strategies and you’ll find that your headaches during this tax season will substantially decline:
Effectively Use Equipment Deductions
Recognizing depreciation on equipment and writing off mileage expenses can significantly reduce a company’s tax burden. IRS Section 179 highlights deductions that business owners can take related to various fixed assets, as well as real property. Maximum deductions under this section go up to $500,000 beginning in 2015. Other equipment that is considered “qualifying equipment” includes software, computers, and office furniture, all of which your firm can use as deductions. Likewise, as of the 2016 tax season, mileage expense rates are 54 cents per mile for standard businesses. However, if your firm specializes in medical mobility (i.e. a non-emergency transport company), you will only be able to deduct 19 cents per mile.
ICD-10 expanded the list of possible codes for medical professionals to over 70,000 items. Provider Web Capital’s Top Ten list is below. Some of these are too strange to be true:
Provider Web Capital Chairman Chris Stenglein spoke recently on the Dana Barrett Show. Please listen to a portion of the show here.