Health care premiums are set to rise again in 2017, and higher deductibles are requiring patients to shoulder more responsibility. Drew Altman, President and CEO of the Kaiser Family Foundation stated,
The primary goal of a medical practice is to serve patients. However, medical practices are also businesses and have the same aspects and concerns of any business. Chief amongst these concerns is getting paid for your services. How do you know if you are leaving money on the table? Here are a few questions your practice should to be able to answer.
In a recent study released by industry expert ACFE it was determined that small businesses are much more vulnerable to occupational fraud. With cases of check tampering, skimming, payroll and cash larceny schemes occurring more than twice as frequently in small businesses in comparison to larger organizations. Here are some cost effective solutions that will help you protect your business.
The CMS describes MACRA as “a new payment framework that rewards health care providers for giving better care instead of more service.” Now that the final MACRA rule is out, providers were asked how they feel about their MACRA preparations.
We are pleased to announce that Jack Daly, Provider Web Capital’s Chief Revenue Officer, was selected to be a contributing columnist for HomeCare magazine. With nearly four decades of publications under its belt, HomeCare magazine has established itself as a place where home health business owners go not only for industry news but for industry-leading content that is focused solely on helping business owners succeed. Needless to say, Mr. Daly was more than happy to share his unique financial expertise for small businesses in healthcare.
As reported by The Balance “Section 179 of the IRS Code was enacted to help small businesses by allowing them to take a depreciation deduction for certain assets (capital expenditures) in year one, rather than over a longer period of time. Taking a deduction on an asset in its first year is called a Section 179 deduction.”
According to The New York Times, Many people have to wait too long to see a doctor. And it could get worse. If, as many people believe, we have a shortage of doctors in the United States, then it follows that we can fix this only by training and hiring more physicians.
One of the biggest challenges facing every healthcare business owners is improving their payments on outstanding claims to government and insurance payers. Whether it is Medicare or Medicaid or a private insurer, claims can take weeks or even months to process. Even small errors in submission can lead to longer delays. Fortunately there are a number of key strategies that can improve your experience and speed up your payments.
For healthcare companies, cash flow issues can cause major headaches.