Government-Enabled Patient “Bounty Hunters”

Spider Webbing Technology May Trip-Up Miscreant Doctors By Dr. David Edward Marcinko; MBA CMP™ www.HealthcareFinancials.com Under the Health Insurance Portability Accountability Act (HIPAA), the U. S. Department of Health and Human Service (HHS) have operated an “Incentive Program for Fraud and Abuse Information.”  In this program, HHS pays $100 – $1,000 to Medicare recipients who [...]

The Need to Protect Accounts Receivable

Understanding Liability and Stewardship Issues By Dr. David Edward Marcinko; MBA, CMP™ By Dr. Gary L. Bode; MSA, CPA, CMP™ www.HealthcareFinancials.com All hospitals, clinics, healthcare entities and doctors are aware that accounts receivable (ARs) represent money that is owed to them, usually by a patient, insurance company, health maintenance organization (HMO), Medicare, Medicaid, or other [...]

IRS Warning on Hospital Charity Care

On Hospital Community Benefit Laws  By Staff Reporters According to an Internal Revenue Service survey of nearly 500 not-for-profit hospitals in May 2006, only nine percent of total revenues were dedicated to community charity care. The report warned charity [Samaritan] and not-for-profit healthcare entities that attempts to set a percentage threshold for determining tax-exempt compliance [...]

Healthcare Intranets and Extranets

A Primer for Physicians and Medical Executives By Richard J. Mata; MD, MS, CMP™ [Hon] According to the “Dictionary of Heath Information and Technology”, “An intranet is a private network that uses Internet Protocols, network connectivity, and possibly the public telecommunication system to securely share part of an organization’s information or operations with its employees”. [...]

Understanding the Need for Onsite Practice Management Visits

Interview Information also Important By Dr. David E. Marcinko and Staff Reporters www.healthcareFinancials.com According to Robert James Cimasi MHA, ASA, AVA, CMP™ of Health Capital Consultants, LLC, in St. Louis, MO, the following types of information specific to medical practices should be gathered by the financial executive, financial advisor or healthcare consultant when performing a practice [...]

Medical Malpractice Trial Types

Understanding the Litigation Process By Dr. Jay S. Grife; Esq, MA There are two types of trials, trial by jury and trial by judge. It is the task of the judge to determine the law, while the jury determines the facts.  In a trial by judge—called a “bench” trial—the judge determines both the law and [...]

Proactive Medical Accounts Receivable Monitoring

Forewarned is Forearmed By Dr. David Edward Marcinko; MBA, CMP™ By Dr. Gary L. Bode; MSA, CPA, CMP™ www.HealthcareFinancials.com All hospitals, medical clinics, healthcare entities, and doctors are aware that accounts receivable (ARs) represent money that is owed to them, usually by a patient, insurance company, health maintenance organization (HMO), Medicare, Medicaid, or other third [...]

On Growing Tensions in Healthcare Services Markets

Stressors Affecting all Stakeholders By Robert James Cimsai; MHA, AVA, ASA, CMP™ www.HealthcareFinancials.com The changes in reimbursement for Medicare services through the introduction of prospective payment systems and physician reimbursement cuts for professional services, as well as the increased focus on patient quality and transparency initiatives and health 2.0 collaboration have forced healthcare providers to [...]

Introducing Parin Kothari MBA

Our Newest ME-P Thought-Leader By Hope Rachel Hetico; RN, MHA, CMP™ [Managing Editor] Parin Kothari is a seasoned management consultant with focus on strategy and operations. He earned his MBA from Syracuse University in New York and has eight years experience spanning various industries from automobiles & advertising to healthcare management & financial services. Infamous Banking and Financial Services Industry [...]

About the MS Office® eMR Project

Programming a Powerful eMR – or – Jumping the Shark? By Ann Miller; RN, MHA Recently we communicated with Al Borges MD, founder of the Office eMR Project. He is quite an innovative guy. His passion - eMRs for the physician masses - through an infra-structure already largely in place? The Problem: You want to use a [...]

Medical Negligence and the “Burden of Proof”

Understanding the Malpractice Trial Process By Dr. Jay S. Grife; Esq, MA In all civil trials, the plaintiff, as the accuser, has the burden of proving his case.  Much like a criminal defendant, a civil defendant has no burden and is presumed “innocent” of any claim by the plaintiff.  As a result, if the plaintiff [...]

Medical Accounts Receivable and Related Formulae

Understanding Rationale and Formulae By Dr. David Edward Marcinko; MBA, CMP™ By Dr. Gary L. Bode; CPA, MSA, CMP™ www.HealthcareFinancials.com Medical practices, clinics and hospitals generate a patient account or an account receivable (AR) at the same time as they send the patient a bill or the insurance company a claim. ARs are treated as [...]

Discount Brokerages versus On-Line Brokerages

Physicians Must Appreciate the Differences By Daniel B. Moisand; CFP® and the ME-P Staff Here are a few questions for all physician-investors to consider in 2009: 1. True or False?  The key to investment success is to pay as little for a trade as possible. 2. True or False?  The higher the number of trades [...]

Sample Medical Practice Sales Non-Disclosure Agreement

Customizable Medical Practice Valuation Example Staff Reporters The undersigned acknowledges that Hamilton Family Clinic (HFC) has furnished to the undersigned potential Investor (“Investor”) certain proprietary data (“Confidential Information”) relating to the business affairs and operations of Hamilton Family Clinic (HFC) for study and evaluation by Investor for possibly investing in Hamilton Family Clinic (HFC).  It [...]

Meet Richard A. Berning MD

Our Newest “Thought-Leader” By Ann Miller; RN, MHA The Medical Executive-Post is proud to introduce Richard Berning MD as our newest thought-leader for medical practice management modernity. About Dr. Berning Dr. Richard A. Berning attended the University of Cincinnati – College of Medicine. He is a pediatric cardiologist and Assistant Clinical Professor of Pediatrics who [...]

About AllHealthCareJobs.com

The Dice Purchase By Scot Melland I am pleased to announce that Dice Holdings now owns AllHealthcareJobs.com. A Medical Career Web Site   AllHealthcareJobs.com is a leading online career site dedicated to matching healthcare professionals with the best career opportunities in their profession. Known for its unique search engine, AllHealthcareJobs.com allows hiring managers and recruiters [...]

Understanding the “Minimum Necessary” Rule

Protected Health Information and HIPAA By Richard J. Mata; MD, MIS, CMP™ [Hon] www.HealthcareFinancials.com One important concept of the Health Insurance Portability and Accountability Act [HIPAA] is the “minimum necessary” rule, which states the minimum use of Protected Health Information [PHI] to identify a person, such as a social security number, home address, or phone [...]

Medical Coding and Billing Vocabulary

Basic HIT Nomenclature and HIPAA By Richard J. Mata; MD, MIS, CMP™ [Hon] www.HealthcareFinancials.com For the Health Information Technology [HIT] department of a hospital, clinic or medical practice and its coders, the following medical vocabularies are mandated by the Health Insurance Portability and Accountability Act [HIPAA]. Diseases  For diseases: the 9th or 10th International Classification [...]

Capital Sources for Hospitals

Understanding the Liquidity Crunch -with- Publisher’s Interview By Calvin W. Weise; MBA, CMA, CPA www.HealthcareFinancials.com Hospital are struggling in the current financial crisis, and like most of us, liquidity is scarce. In general, hospitals have three sources of capital: equity from earnings, equity from donations, and long-term debt.     Equity from Earnings Earnings generate cash, [...]

Appraising a Medical Practice

The “Art of the Deal” for Buyers and Sellers By Dr. David Edward Marcinko; MBA, CMP™ Publisher-in-Chief Are you considering selling your practice — or merging it with another? Thinking of buying? If you are, you’re hardly alone. Despite the decline of the big physician practice management companies [PPMCs] of the 1990s, the merger-and-acquisition market [...]

Health Care Uses for Twitter [Suggestions for Micro-Sharing]

Health Care Should be the Leader in MicroSharing – Why isn’t It? By Staff Reporters http://www.springerpub.com/Search/marcinko According to by Phil Baumann, RN BSN; @ www.PhilBaumann.com “Twitter may either be the greatest time wasting prank ever played on the internet community – or- it may be the best thing since sliced bread. It’s easy to make [...]

Are You on Your Way to $5.5 Million?

Update 2009 [Initially Published on September 16, 2008] As a physician, how much do you need in your retirement kitty to finance your golden years? It was a vexing question when this article was first written by Physician’s Money Digest’s Editor-in-Chief, Gregory J. Kelly, and is an even more vexing dilemma in 2009. It is [...]

Dictionary of Health Economics and Finance

ADVERTISEMENT Whither the Dictionary of Health Economics and Finance? A simple query that demands a cogent answer! Medical professionals are struggling to maintain adequate income levels. While some specialties are flourishing, others like primary care barely moved forward, not even incrementally keeping up with inflation. In the words of Atul Gawande, MD, a former surgical [...]

Why Coding Professionals?

More on the NPI, the AAPC, Censorship and Quality Health Care By Darrell K. Pruitt; DDS For those who have been following me recently on Twitter (Proots), you know that unlike me, John Hamm has not yet been kicked off of DrBicuspid, and is awaiting a response from Dr. David J. Pettigrew – a dental [...]

Blogging Evolution of ME-P

Now a Group Publishing Platform By Ann Miller; RN, MHA [Executive Director] www.HealthcareFinancials.com, the Medical Executive-Post, has acquired a reputation as one of the most respected independent and investigative voices in the healthcare industrial and financial complex, today. And, we have been called an unbiased educator and leader in the latest medical management and technology [...]

Essential Insights on Successful Physician Budgeting

Special Report for all Medical Professionals By Dr. David Edward Marcinko; MBA By Hope Rachel Hetico; RN, MHA What: A Special Report Prepared upon the Request of “Podiatry Today” Who: Dr. David E Marcinko and Hope Rachel Hetico; MHA   Topic: Essential Insights on Successful Budgeting Reporter: Jeffrey Hall [Editor "Podiatry Today" Magazine] Where: Internet Ether Although [...]

My Favorite Health 2.0 Experience from the Exam Room

HIT From the Trenches By Hayward Zwerling; MD I was in the exam room talking to a patient, who I am treating for hyperthyroidism. The patient complained of profound fatigue, of several months duration. It was unclear if the problem was being addressed by the PCP. While talking to the patient, I reviewed all his [...]

Credit Card Acceptance in Medical Practice

One-third of Physician Practices Not Accepting CCs By Staff Reporters The Physician Office Credit-Card Acceptance Survey, by SK&A Information Services, an Irvine, Califironia based provider of healthcare information solutions and research, suggests physician practices are limiting credit card [cc] payments because patients are being adversely affected by high interest rates, maxed out credit limits and [...]

The Power of “ME Inc” for Physicians

Embracing a New Competitive Practice Culture By Dr. David Edward Marcinko; MBA, CMP™ [Publisher-in-Chief] There are more than 900,000 physicians in the United States. Yet, the brutal supply/demand/demographic calculus of the matter is that there are just too many aging patients chasing too few doctors. Compensation and reimbursement is plummeting as Uncle Sam becomes the [...]

Interview with Jack Levy of Securebill, Inc

President – Securebill, Inc What: An Interview and Special Report Exclusively Prepared for the ME-P Who: Mr. Jack Levy, CISSP [President – Securebill, Inc] Topic: Physician Selection of eHRs Reporter: Amaury Cifuentes; CFP® Where: Internet Ether Although skeptics of eHRs abound, President Barack H. Obama’s signing of the American Recovery and Reinvestment Act [ARRA] of [...]

Dictionary of Health Information Technology and Security

ADVERTISEMENT Whither the “Dictionary of Health Information Technology and Security?” A simple query that demands a cogent answer! There is a myth that all stakeholders in the healthcare space understand the meaning of basic information technology jargon. In truth, the vernacular of contemporary medical information systems is unique, and often misused or misunderstood. It is [...]

Events Planner: June 2009

ADVERTISEMENT Events-Planner: JUNE 2009 “Keeping track of important health economics and financial industry meetings, conferences and summits” Welcome to this issue of the Medical Executive-Post and our Events-Planner. It contains the latest information on conferences and relevant resources in healthcare finance, economics, research and development, business management, pharmaceuticas, IT and reimbursement!  Watch for a new Events-Planner [...]

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