Greenbranch Publishing http://www.soundpractice.net Interviews, article abstracts and commentary about financial issues challenging today's medical practice. Financial Management for The Medical Practice For the practice administrator or the physician executive, topics include accounts receivable, time-of-service collection, leasing, understanding financial statements, investments and cash management. en-us Copyright Greenbranch Publishing 2005 SoundPractice.Net admin@soundpractice.net http://www.mpmnetwork.com/images/MPM/setup/issue.jpg http://www.mpmnetwork.com/ The Journal http://blogs.law.harvard.edu/tech/rss Thu, 02 Sep 2010 11:44:41 EST Podcast.Editor@soundpractice.net In this 20-minute podcast, Randy Bauman, Author of Time to Sell? Guide to Selling a Physician Practice: Value, Options, Alternatives, recently published by Greenbranch Publishing (www.mpmnetwork.com) discusses the current market forces at play in the wave of physician practice sales, the key things physicians should look for when they decide to sell their practice, what hospitals are looking for in medical practices, and Randy Bauman's expert assessment of the landscape for physicians selling their practices. Randy Bauman - 800 467-3310 www.deltahealthcare.com In this 20-minute podcast, Randy Bauman, Author of Time to Sell? Guide to Selling a Physician Practice: Value, Options, Alternatives, recently published by Greenbranch Publishing (www.mpmnetwork.com) discusses the current market forces at play in the wave of physician practice sales, the key things physicians should look for when they decide to sell their practice, what hospitals are looking for in medical practices, and Randy Bauman's expert assessment of the landscape for physicians selling their practices. Randy Bauman - 800 467-3310 www.deltahealthcare.com http://www.soundpractice.net/images/soundpractice/podcast/time_to_sell_your_physician_practice_bauman.mp3 Podcast.Editor@soundpractice.net Tue, 10 Feb 2009 10:34:26 EST Podcast no 0:26:26 selling medical practice, bauman, mpm, greenbranch, Susan Childs, FACMPE, of Evolution Healthcare Consulting, in this 20-minute podcast, discusses the most important aspects to consider when negotiating a managed care contract, how to convey the value and culture of your practice to insurance companies, the threat to terminate a contract (should it ever be done?), the most important contract language to address and strategies to use to keep up with the timeline of your contracts. Evolution Healthcare Consulting www.evohcc.com Managed Care Contracting, Top Considerations Susan Childs, FACMPE, of Evolution Healthcare Consulting, in this 20-minute podcast, discusses the most important aspects to consider when negotiating a managed care contract, how to convey the value and culture of your practice to insurance companies, the threat to terminate a contract (should it ever be done?), the most important contract language to address and strategies to use to keep up with the timeline of your contracts. Evolution Healthcare Consulting www.evohcc.com http://www.soundpractice.net/images/soundpractice/podcast/Managed_Care_Contracting-Top_Considerations.mp3 Podcast.Editor@soundpractice.net Tue, 09 Sep 2008 11:39:54 EST Podcast no 0:23:34 childs greenbranch medical practice In this second installment of a 3-part series, Bruce Lefco, CEO of Health Payment Systems, discusses their innovative financial transactions promising payment to healthcare providers in twenty days, on both the insurance and self-pay portions on a non-recourse basis. In this 20-minute podcast, Mr. Lefco explains HPS's creative ways to communicate charges to patients and he also describes the SuperEOB concept. In this second installment of a 3-part series, Bruce Lefco, CEO of Health Payment Systems, discusses their innovative financial transactions promising payment to healthcare providers in twenty days, on both the insurance and self-pay portions on a non-recourse basis. In this 20-minute podcast, Mr. Lefco explains HPS's creative ways to communicate charges to patients and he also describes the SuperEOB concept. http://www.soundpractice.net/images/soundpractice/podcast/Bruce_Lefco_CEO_Health_Payment_Systems.mp3 Podcast.Editor@soundpractice.net Mon, 07 Jul 2008 10:08:20 EST Podcast no 0:12:29 bruce lefco medical practice finance physician mpm Implementing Real Time Claim Adjudication may be a smart move for many medical practices. In this 20-minute podcast, Doral Davis-Jacobsen Manager, Physician Services Consulting Unit Dixon Hughes, PLLC defines the term, how the process of real time adjudication effects accounts receivable workflow, the challenges in implementing the program, keys to success in incorporating the process into the practice workflow, and the impressive impact on the financial performance of the practice. Implementing Real Time Claim Adjudication may be a smart move for many medical practices. In this 20-minute podcast, Doral Davis-Jacobsen defines the term, how the process of real time adjudication effects accounts receivable workflow, the challenges in implementing the program, keys to success in incorporating the process into the practice workflow, and the impressive impact on the financial performance of the practice. http://www.soundpractice.net/images/soundpractice/podcast/Real_Time_Claim_Adjudication.mp3 Podcast.Editor@soundpractice.net Mon, 10 Dec 2007 03:01:52 EST Podcast no 0:23:46 medical practice management adjudication davis-jacobson greenbranch publishing physician finance income In this 20 minute podcast, Owen Dahl, MBA, FACHE, CHBC, author of Think Business! Medical Practice Quality, Efficiency, Profits, discusses how much it really costs a doctor (or a practice) to see a patient. No, the answer isn't what you charge for an office visit. A physician needs wise management of costs and an understanding of revenue enhancement to assure long-term success for the practice. But how do you analyze costs in a practice? Mr. Dahl addresses fixed, variable, direct and indirect costs with practical examples of what costs you can control. You may think it is your office supplies - but analysis of your payroll may yield larger savings. Also hear his expert comments about patient satisfaction, your no-show rate, overtime costs, and what it means to the practice to see just one additional patient per day. http://www.thinkbusiness.md How Much Does it Cost You to See a Patient? In this 20 minute podcast, Owen Dahl, MBA, FACHE, CHBC, author of Think Business! Medical Practice Quality, Efficiency, Profits, discusses how much it really costs a doctor (or a practice) to see a patient. No, the answer isn't what you charge for an office visit. A physician needs wise management of costs and an understanding of revenue enhancement to assure long-term success for the practice. But how do you analyze costs in a practice? Mr. Dahl addresses fixed, variable, direct and indirect costs with practical examples of what costs you can control. You may think it is your office supplies - but analysis of your payroll may yield larger savings. Also hear his expert comments about patient satisfaction, your no-show rate, overtime costs, and what it means to the practice to see just one additional patient per day. http://www.thinkbusiness.md http://www.soundpractice.net/images/soundpractice/podcast/How_Much_Does_it_Cost_You_to_See_a_Patient.mp3 Podcast.Editor@soundpractice.net Thu, 30 Aug 2007 04:15:31 EST Podcast no 0:23:35 owen dahl physician costs medial practice management greenbranch publishing doctor administrator In this 20 minute podcast, Betsy reviews details surrounding physicians getting paid for hospital services. Can physicians get paid if they have to see a sick patient more than once a day? What does group membership have to do with getting paid for hospital services? What is the difference between observation admission series of codes and the observation with discharge codes? What are the rules for critical care? What about the proper way to bill follow up visits after an initial inpatient consultation? How to Get Paid for Hospital Services with Betsy Nicoletti, MS, CPC, President of Medical Practice Consulting In this 20 minute podcast, Betsy reviews details surrounding physicians getting paid for hospital services. Can physicians get paid if they have to see a sick patient more than once a day? What does group membership have to do with getting paid for hospital services? What is the difference between observation admission series of codes and the observation with discharge codes? What are the rules for critical care? What about the proper way to bill follow up visits after an initial inpatient consultation? http://www.soundpractice.net/images/soundpractice/podcast/How_to_Get_Paid_for_Hospital_Services_with_Betsy_Nicoletti.mp3 Podcast.Editor@soundpractice.net Thu, 19 Apr 2007 10:41:42 EST Podcast no 0:21:23 betsy nicoletti medical practice management hospital reimbursement medicare coding greenbranch Judy Capko, President of Capko & Co., based in Thousand Oaks, California and the author of the best-seller, Secrets of the Best-Run Practices is interviewed by SoundPractice.net. In this 20 minute podcast, Judy reviews the concept of monthly strategy meetings in a medical practice, how to get doctors and others in the practice to buy-in to such meetings, how to best structure meetings to share performance data, and the most important issues and benchmark data to cover on a regular basis. She also discusses how to keep focus and momentum up for such strategy sessions. How to Stay on Top of Practice Finances with Judy Capko Judy Capko, President of Capko & Co., based in Thousand Oaks, California and the author of the best-seller, Secrets of the Best-Run Practices is interviewed by SoundPractice.net. In this 20 minute podcast, Judy reviews the concept of monthly strategy meetings in a medical practice, how to get doctors and others in the practice to buy-in to such meetings, how to best structure meetings to share performance data, and the most important issues and benchmark data to cover on a regular basis. She also discusses how to keep focus and momentum up for such strategy sessions. http://www.soundpractice.net/images/soundpractice/podcast/How_to_Stay_on_Top_of_Practice_Finances_with_Judy_Capko.mp3 Podcast.Editor@soundpractice.net Mon, 05 Feb 2007 10:07:34 EST Podcast no 0:15:47 medical practice management judy capko physician income healthcare doctors office medical administrator capko.com greenbranch.com Journal of Medical Practice Management Betsy Nicoletti, MS, CPC, President of Medical Practice Consulting (www.mpconsulting.org ) discusses in this timely podcast, "Getting Paid the 1.5% Medicare Bonus." She outlines the strategy for reporting quality indicators to the CMS and the difference between pay for performance and this physician voluntary reporting program mandated by Congress. To sign up for the live audio conference on Feb 14, 2007 visit this link - http://conference.mpmnetwork.com. Betsy Nicoletti, MS, CPC, President of Medical Practice Consulting (www.mpconsulting.org ) discusses in this timely podcast, "Getting Paid the 1.5% Medicare Bonus." She outlines the strategy for reporting quality indicators to the CMS and the difference between pay for performance and this physician voluntary reporting program mandated by Congress. To sign up for the live audio conference on Feb 14, 2007 visit this link - http://conference.mpmnetwork.com. http://www.soundpractice.net/images/soundpractice/podcast/How_to_Get_Paid_the_1.5_Percent_Medicare_Bonus.mp3 Podcast.Editor@soundpractice.net Tue, 30 Jan 2007 03:36:41 EST Podcast no 0:19:01 Medicare Bonus CMS reimbursement medical practice management physician income administrator doctor office practice management Bruce Lefco discussed the state of healthcare reimbursements and the features of Health Payment Systems, Inc., a Financial Transactions Company based in Milwaukee, dedicated to simplifying the reimbursement process and lowering the cost-to-collect and bad debt expense. Bruce Lefco discussed the state of healthcare reimbursements and the features of Health Payment Systems, Inc., a Financial Transactions Company based in Milwaukee, dedicated to simplifying the reimbursement process and lowering the cost-to-collect and bad debt expense. http://www.soundpractice.net/images/soundpractice/podcast/Interview_with_Bruce_Lefco_CEO_of_Health_Payment_Systems.mp3 Podcast.Editor@soundpractice.net Mon, 27 Nov 2006 09:57:57 EST Podcast no 0:18:57 medical practice physician reimbursement health care medicine practice managment administrator financial management greenbranch journal of medical practice management soundpractice.net In this podcast Ms. Davis-Jacobsen describes steps that the "better performing" practices take in order to improve AR, she reviews the components of an effective AR monitoring system, describes statistics and useful benchmark comparisons that are available to medical practices and she summarizes the most important steps a practice can take to improve accounts receivable performance. Improving Accounts Receivable Performance In this podcast Ms. Davis-Jacobsen describes steps that the "better performing" practices take in order to improve AR, she reviews the components of an effective AR monitoring system, describes statistics and useful benchmark comparisons that are available to medical practices and she summarizes the most important steps a practice can take to improve accounts receivable performance. http://www.soundpractice.net/images/soundpractice/podcast/Improving_Accounts_Receivable_Performance.mp3 Podcast.Editor@soundpractice.net Tue, 01 Aug 2006 03:25:22 EST Podcast no 0:25:29 medical practice receivables financial controls administrator physician income billing Jennifer Bever, a member of the consulting team of Karen Zupko & Associates, based in Chicago, works extensively with medical practices, primarily in Orthopaedic practices to review and improve billing and collection processes. In this podcast, Jennifer reviews billing protocols for non-physician providers (Physician Assistants, Nurse Practitioners, Clinical Nurse Specialists), differences between "direct" and "incident to" billing for non-provider physicians, and common pitfalls for this area of billing. Jennifer also shares practical guidelines for medical practices to ensure they are following the appropriate guidelines for correct billing. Avoiding Common Billing Pitfalls: Non-Physician Providers Jennifer Bever, a member of the consulting team of Karen Zupko & Associates, based in Chicago, works extensively with medical practices, primarily in Orthopaedic practices to review and improve billing and collection processes. In this podcast, Jennifer reviews billing protocols for non-physician providers (Physician Assistants, Nurse Practitioners, Clinical Nurse Specialists), differences between "direct" and "incident to" billing for non-provider physicians, and common pitfalls for this area of billing. Jennifer also shares practical guidelines for medical practices to ensure they are following the appropriate guidelines for correct billing. http://www.soundpractice.net/images/soundpractice/podcast/Avoiding_Common_Billing_Pitfalls_Non-Physician_Providers.mp3 Podcast.Editor@soundpractice.net Tue, 06 Jun 2006 11:48:46 EST Podcast no 0:17:49 medical billing practice managment physician income David B. Mandell, J.D., M.B.A. is an attorney, author, and educator. He focuses his law practice on asset protection, tax, and estate planning matters. He also is a principal of Jarvis & Mandell, LLC, a financial planning firm focusing on tax, insurance, benefits, and retirement planning matters. Podcast interview covering these topics: financial obstacles facing physicians today; the benefits of non-qualified retirement plans; how physicians can shield their most important assets, like their home, from potential lawsuits; what the new bankruptcy laws mean for physicians; what "Asset Protection" is and why physicians should be concerned with it; physicians getting good advise from their advisors; the future of medicine.. economically. A Fresh Look at Finance for Physicians David B. Mandell, J.D., M.B.A. is an attorney, author, and educator. He focuses his law practice on asset protection, tax, and estate planning matters. He also is a principal of Jarvis & Mandell, LLC, a financial planning firm focusing on tax, insurance, benefits, and retirement planning matters. Podcast interview covering these topics: financial obstacles facing physicians today; the benefits of non-qualified retirement plans; how physicians can shield their most important assets, like their home, from potential lawsuits; what the new bankruptcy laws mean for physicians; what "Asset Protection" is and why physicians should be concerned with it; physicians getting good advise from their advisors; the future of medicine.. economically. http://www.soundpractice.net/images/soundpractice/podcast/Financial_Issues_Facing_Physicians_Today_with_David_Mandell.mp3 Podcast.Editor@soundpractice.net Wed, 25 Jan 2006 03:11:09 EST Podcast no 0:20:32 medical finance physician income david mandell journal of medical practice management Max Reiboldt, CPA is Managing Partner and CEO of The Coker Group, based in Alpharetta, GA. Mr. Reiboldt oversees Coker's services and coordinates and/or supervises most projects. He works with providers to improve financial operations, develop and implement compensation systems, and institute profitable service lines. His expertise encompasses governance analysis and design, strategic planning, and financial performance. What physicians need to do to stay on top of the financial reporting, what most physicians do to acquaint themselves with the operations of the practice and the accompanying financial details, tips for the practice administrator or office manager who may be preparing statements or reports for the doctors in the practice, costs spiraling out of control, a method of reviewing expenses to determine ways to reduce costs and to control increases, monthly meeting where the practices' financial reports are reviewed, trends in the reporting materials and the role of the office administrator, what practices needs to concentrate on in 2006 to become more profitable. Financial Checklist for a Profitable Practice - an Interview with Max Reiboldt CEO of The Coker Group Max Reiboldt, CPA is Managing Partner and CEO of The Coker Group, based in Alpharetta, GA. Mr. Reiboldt oversees Coker's services and coordinates and/or supervises most projects. He works with providers to improve financial operations, develop and implement compensation systems, and institute profitable service lines. His expertise encompasses governance analysis and design, strategic planning, and financial performance. What physicians need to do to stay on top of the financial reporting, what most physicians do to acquaint themselves with the operations of the practice and the accompanying financial details, tips for the practice administrator or office manager who may be preparing statements or reports for the doctors in the practice, costs spiraling out of control, a method of reviewing expenses to determine ways to reduce costs and to control increases, monthly meeting where the practices' financial reports are reviewed, trends in the reporting materials and the role of the office administrator, what practices needs to concentrate on in 2006 to become more profitable. http://www.soundpractice.net/images/soundpractice/podcast/Interview_with_Max_Reiboldt_CEO_of_The_Coker_Group.mp3 Podcast.Editor@soundpractice.net Mon, 23 Jan 2006 11:52:10 EST Podcast no 0:24:52 medical practice management financial reporting physicians income doctors offcie administrator This podcast, from and article by Gregory H. Nizich, C.H.B.C., describes a manual tracking system that lets the billing service do all the work and requires a minimal amount of time to maintain. The goal of the system is to keep the billing service on its toes by routinely requesting the status of random claims. Eventually you will become a very polite, but squeaky wheel, and will get the attention you deserve. Manual Tracking to Keep Tabs on Your Billing Service This podcast, from an article by Gregory H. Nizich, C.H.B.C., describes a manual tracking system that lets the billing service do all the work and requires a minimal amount of time to maintain. The goal of the system is to keep the billing service on its toes by routinely requesting the status of random claims. Eventually you will become a very polite, but squeaky wheel, and will get the attention you deserve. http://www.soundpractice.net/images/soundpractice/podcast/Is_Your_Billing_Service_Doing_You_a_Dis-Service.mp3 Podcast.Editor@soundpractice.net Thu, 08 Dec 2005 08:12:30 EST Podcast no 0:08:25 billing claims nizich medical practice managment physicians By Tom Hajny: This editorial outlines the rationale behind time-of-service payments, the psychological aspects of getting patients to pay their bills, and the major obstacles (and practical hints) to implementing time-of-service collections with office staff. Time-of-service Collection is a Critical Component of the Financial Success of Your Practice In this podcast and posted article, Tom Hajny provides practical hints to encourage time-of-service collection and resulting improvements in customer service. http://www.soundpractice.net/images/soundpractice/podcast/Time_of_Service_Payment_Customer_Service_and_Cash_Management.mp3 Podcast.Editor@soundpractice.net Fri, 04 Nov 2005 08:54:47 EST Podcast no 11:22 Time-of-service Financial Management Medical Practice Physician Executive Administrator Manager