RAC Demand Letters Replaced

CMS Transfers Responsibility By Staff Reporters   January 2012 marks a significant change for Recovery Auditors as the Centers for Medicare & Medicaid Services (CMS) is transferring the responsibility for demand letters from the auditors to claims processing contracts. The reason for the change is “to avoid any delays in demand letter issuance,” according to [...]

The Cost of Early [HIT] Adopters

An eHR Lesson for Physicians? With the rapid change in technology, such as eHRs, knowing when to purchase a truly innovative product is becoming increasingly more difficult. With promises of changing our lives or saving time and money, more often than not, the initial release doesn’t live up to these expectations – at least not [...]

Video on Being a ‘Real Doctor’

DVM vs MD, etc. By Dr. David Edward Marcinko MBA [Publisher-in-Chief] While discussing the future of medicine at Drexel University in Philadelphia recently [privately and off-the-record], a medical colleague shared the below video with me that strangely struck a chord. Turf Battles MD vs DO vs DPM vs DDS vs NP vs ANP vs PA vs [...]

Doctor’s Lawsuit Targets Parents of Patient Who Overdosed

By Marshall Allen ProPublica, Aug. 26, 2011, 10:57 am The dramatic rise in prescription narcotics use [1]—and the subsequent increase in overdose deaths—has led to a spate of lawsuits around the country targeting doctors for malpractice or running pill mills [2]. But legal experts say the case of one family physician in Henderson,Nev., stands out. [...]

Dr. Somnath Basu on Retirement Happiness [Video Clip]

By Staff Reporters A PodCast Clip This brief podcast clip features Dr. Somnath Basu, director of the California Institute for Finance [CIF]. Dr. Basu, a popular ME-P thought-leader, shares his insights on what makes people happy in retirement. Assessment: http://www.youtube.com/watch?v=iTrtmW831Xk Conclusion And so, your thoughts and comments on this ME-P are appreciated. Feel free to review [...]

How Lifetime Benefits and Contributions Point the Way Toward Reforming Our Senior Entitlement Programs

By Staff Reporters From Expert Voices By C. Eugene Steuerle PhD [Institute Fellow and Richard B. Fisher Chair, The Urban Institute] By Stephanie Rennane [University of Maryland] For August 2011 Reforms to Medicare and Social Security will likely be debated over the next few months as the new “super committee” formed by the debt ceiling [...]

Dr. Somnath Basu on Financial Planning Client Expectations [PodCast]

By Staff Reporters On Client Attitudes in the New Economy In this encore podcast, Somnath Basu PhD examines how the recent economic turmoil has changed financial planning clients’ attitudes and expectations. Dr. Basu is a popular ME-P contributor and thought-leader. Assessment: http://www.youtube.com/watch?v=jzAkB8h5v3Q Conclusion And so, your thoughts and comments on this ME-P are appreciated. Feel [...]

A Nutrition Label for Health Insurance Plans?

Appreciating “Search Frictions” By Dr. David Edward Marcinko MBA CMP™ [Editor-in-Chief] Because products vary so much across many characteristics, health insurance is not easy to shop for. Comparing plans is an apples-to-oranges problem. Of Search Frictions and Economic Externalities As a former insurance agent for more than a decade, this is a situation by design [...]

The Debt Agreement Explained in Three Steps

The Bi-Partisan Compromise The recent budget compromise created a joint committee of Congress, which you might have seen referred to as the “super committee.” This committee is responsible for developing a bipartisan plan for reducing our deficit by $1.5 trillion over the next 10 years. (That’s on top of about $1 trillion from the down [...]

Why PACs Won’t Jeopardize a Hospital’s Tax Exempt Status?

According to IRS Private Letter Ruling By http://www.garfunkelwild.com/ Recently, the Internal Revenue Service (“IRS”) issued a private letter ruling (the “Ruling”) that will allow the requesting tax-exempt hospital to establish and operate a social welfare organization as a means of engaging in political activities and establishing a larger presence in the political arena. The Ruling [...]

On the Deadliest Disease Outbreaks in History

Black Death to Measles    From the From the Black Death to the measles, rapidly spreading diseases have taken a toll on humanity for centuries. Here’s a look at the biggest and deadliest pandemics ever.   A collaboration between GOOD and Column Five Media. Conclusion And so, your thoughts and comments on this ME-P are appreciated. Feel [...]

How to Burglar-Proof Your Cash Stash?

Avoid Burglar-Friendly Spots   Brought to you by mint.com If the wobbly financial markets have you hoarding cash at home, beware. Yes, as a doctor, you may be safe from bear markets, but you’re still vulnerable to losses, especially if you leave your money and valuables in burglar-friendly spots. View the image below to expand [...]

Recruiting Medical Director

Corvallis Clinic‏ By Judy Kliethermes   Corvallis Clinic, a large, physician-owned, multi-specialty clinic located in the heart of Willamette Wine Valley, is seeking a Medical Director. Corvallis Clinic is comprised of 82 providers located at five sites. Founded in 1947, Corvallis Clinic boasts more than 25 specialties and employs 600 medical professionals. Corvallis Clinic serves [...]

OCR Imposes Penalties for Employee’s Unauthorized Viewing of PHI

By Garfunkel Wild, PC   Early in July, the Department of Health and Human Services Office of Civil Rights (“OCR”) entered into a settlement for $865,500 with UCLA Health System (“UCLAHS”) as a result of complaints alleging that UCLAHS employees repeatedly and without permissible reason looked at the electronic protected health information (“ePHI”) of celebrity [...]

Docs and FAs Stressed Out Over Fee Disclosures?

Financial Services and Healthcare Industry Affected By Dr. David Edward Marcinko MBA CMP™ [Publisher-in-Chief] Starting April 1, 2012, financial advisors [FAs] are going to have to disclose fees for their services to retirement plan sponsors, according to changes to the ERISA rules. But, as you may not know, advisor fees to retirement plan fiduciaries have [...]

Establishing Your Medical Practice’s Fair Market Value

Part One of Medical Practice Valuation By Dr. David Edward Marcinko, MBA, CMP By Professor Hope Rachel Hetico, RN, MHA, CMP www.CertifiedMedicalPlanner.com In recent years, the physician practice market has experienced a noticeable increase in practice merging and acquisitions. Medical practices are being acquired by health systems in anticipation of Accountable Care Organization (ACO) delivery [...]

Americas One-Stop Shop for Healthcare [HIEs]

Health Insurance Exchanges [HIEs]   Brought to you by ACS a Xerox Company For some Americans, selecting a health insurance plan will soon feel a bit like shopping. As part of healthcare reform, each state is required to have a Health Insurance Exchange (HIE or HIX) in operation by Jan. 1, 2014. Given the complexity [...]

Medicare and the Budget Control Act’s Joint Select Committee

Creating Spending Reductions for the Next Decade? By Children’s Home Society of Florida Foundation   Under the compromise between President Obama and leaders of the House and Senate, the Budget Control Act of 2011 created spending reductions of over $900 billion during the next decade. The bill also requires leaders of the House and Senate [...]

How to Take Care of Your Eyes

   In celebration of National Eye Health Week we at Ultralase have immersed ourselves in the world of vision in order to produce this handy graphic containing facts and tips to help encourage you, and the rest of the world to Love Your Eyes. Brought to you by www.ultralase.com   Conclusion And so, your thoughts and [...]

The Sick Cost of Medical Paperwork

  If there’s one thing Americans can agree upon 100%, it’s that the cost of helath care is completely insane. Costs are far higher in theUSthan in any other industialized nation, and even health care reform hasn’t been able to reel them in yet. But, where is all the money going, exactly? Hundreds of billions [...]

What Does the S&P Downgrade Mean?

If France Is Rated Higher Than the US! By Marian Wang ProPublica, Aug. 8, 2011, 5:38 p.m. The decision by credit rating agency Standard & Poor’s to downgrade the United States [1] after markets closed on Friday may have kicked up political [2] consternation [3] and triggered a market plunge [4], but it also raises [...]

Hospitals Slowly Affiliating with RBACs

The Rise of Role-Based Access Controls By Dr. David Edward Marcinko MBA CMP Last month I visited the University of Pennsylvania in Philadelphia. Of course, I graduated from Temple University myself and worked as an admissions clerk in the ER, back in the day. There I learned that some local hospitals are affiliating in role-based access [...]

Things You Didn’t Know About Death

Not a Unique Experience   Death is an experience that we’re all going to have at one point or another. Why not take a few minutes to learn some interesting and some truly bizarre facts about death, dying, and the dead? Brought to you by medicalinsurance.org Conclusion And so, your thoughts and comments on this [...]

USN&WR – Meet the ADA President

Dr. Raymond Gist By Kellus Pruitt DDS I just found a US News Health article by Angela Haupt titled, “The Era of Electronic Medical Records.” http://health.usnews.com/health-news/most-connected-hospitals/articles/2011/07/18/most-connected-hospitals?PageNr=1  Even though dentistry wasn’t mentioned even once, I took liberties with the comment I posted. Besides, dentistry is never mentioned anywhere in the healthcare press, and that’s just not [...]

Events Planner: August 2011

ADVERTISEMENT Events-Planner: AUGUST 2011 By Staff Writers “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, news, and relevant resources in healthcare finance, economics, research and development, business management, pharmaceutical pricing, and physician/entity [...]

On Single Unit Surgical Centers

Proposed Registration and Licensure Requirements By Garfunkel Wild, PC   Legislation enacted on March 23, 2009 required single suite surgical facilities that are conducted by surgical practices (the “Surgical Practices”) to register with the New Jersey Department of Health and Senior Services (“NJDHSS”) by September 17, 2009, and prohibited registration of new Surgical Practices. However, [...]

Continued Barriers and Issues with eHRs

More on the electronic documentation of medical information By Carol S. Miller BSN, MBA, PMP Many providers of health care are moving forward with electronic medical records [eMRs] and documentation of related information. However,  there are still significant perceived and real barriers impacting some doctors and practitioners of care in moving forward with this process. Here’s why in [...]

Healthcare Associated Infections

The Unknown Killer   Each year, Healthcare Associated Infections (HAIs) affect millions of patients and add billions of dollars to healthcare costs in the U.S. GE’s Healthcare division is aggressively working to find ways to address this issue and prevent the widespread occurrence of HAIs in the future. GE and JESS3 partnered to create an [...]

A New Take on Accounts Receivable [AR] Factoring for Doctors

 Understanding How Medical Practice Business Factoring Works   AR factoring is a financial transaction whereby a business, like a medical practice, sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount in exchange for immediate money with which to finance continued business. Factoring differs from a bank loan in [...]

Benchmarks of Health Plan Administrative Costs

2011 Edition‏ By John Park   Recently, we began the release of our fourteenth annual edition of administrative performance benchmarks for health plans. It is the culmination of 515 health plan years of experience with all major sectors of the health plan industry. The attached brochure briefly describes our 2011 benchmarks. First Universe Release The first [...]

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