Onsite Visits for Medical Office Appraisals

Posted on February 13, 2024 by Dr. David Edward Marcinko MBA

The Medical Practice Walk-through – A Necessity?

Dr. David E. Marcinko MBA

The most effective means for any professional appraiser to confirm his or her understanding of business value, and how internal controls over financial and managerial reporting is designed and operated in a medical practice, is to evaluate and test its effectiveness.

This includes making inquiries about and observing the personnel who actually perform the managerial duties and controls; reviewing documents that are used in – and that result from – the application of the controls; and comparing supporting documentation to the accounting records.

In performing an onsite office walkthrough, professional valuators examine and review transactions in a medical practices information system to the point where it is reflected in the company’s financial reports.

Practice onsite walkthroughs provide the valuator with evidence to:

·Confirm the medical process flow of transactions

·Understand the management design components of a medical practice valuation related to the prevention or detection of fraud, over utilization, excessive expenses, etc

 · Learn about office workforce processes by determining whether points at which misstatements related to each relevant financial statement assertion that could occur have been identified

·Document whether office controls have been placed in operation.

Of course, an onsite walk-through is the premier component of any comprehensive medical practice valuation engagement.

CONCLUSION: What are your thoughts on onsite valuation visits; pro or con?

Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com

Product Details 

Invite Dr. Marcinko

Filed under: "Doctors Only", Accounting, Practice Worth, Touring with Marcinko | Tagged: , , | Leave a comment »

DAILY UPDATE: MACRA Update, Crypto Restitution as the Markets Fade

Posted on February 13, 2024 by Dr. David Edward Marcinko MBA

HAPPY MARDI GRAS

By Staff Reporters

***

***

In welcome news for physicians, a bipartisan group of senators will get to work on Medicare payment reform. The lawmakers plan to propose changes to the physician fee schedule and updates to the 2015 MACRA law.

***

Stat: $3+ billion. That’s how much restitution New York State Attorney General Letitia James is now seeking from Digital Currency Group, Genesis Global Capital, and Gemini, the crypto exchange run by the Winklevoss twins, for allegedly defrauding more than 230,000 investors, after initially suing in October (CNBC).

CITE: https://www.r2library.com/Resource

Here’s where the major benchmarks ended:

  • The S&P 500 index fell 4.77 points (0.1%) to 5,021.84; the Dow Jones Industrial Average gained 125.69 points (0.3%) to 38,797.38; the NASDAQ Composite lost 48.12 points (0.3%) to 15,942.55.
  • The 10-year Treasury note yield (TNX) dropped more than 1 basis point to 4.173%.
  • The CBOE Volatility Index® (VIX) rose 1.00 to 13.93.

Despite the mixed performance of large-cap stock indexes, several other market sectors got off to a strong start this week. Banking and retail were among the strongest performers, and the small-cap Russell 2000® Index (RUT) surged 1.8% to end at its highest level since late December.

Tech shares erased early gains, with the Philadelphia Semiconductor Index (SOX) fading to a 0.2% loss after earlier rising to a record intra-day high.

Peterson noted shares of many semiconductor companies are well into technically overbought territory, which often can lead to sharp pullbacks, though the timing of such a move is difficult to pinpoint. He cited unusually elevated Relative Strength Index (RSI) readings, at 90-plus, for two AI darlings: Arm Holdings (ARM) and Super Micro Computer (SMCI).

COMMENTS APPRECIATED

Thank You

***

***

Filed under: "Doctors Only", Breaking News, Drugs and Pharma, Ethics, Experts Invited, Financial Planning, Health Economics, Health Insurance, Healthcare Finance, Investing | Tagged: , , , , , , , , , , , , , , | Leave a comment »

PODCAST: Employee Healthcare Ecosystem Power Structure Explained

Posted on February 13, 2024 by Dr. David Edward Marcinko MBA

By Eric Bricker MD

***

***
COMMENTS APPRECIATED

Thank You

***

***

***

Filed under: "Advisors Only", "Doctors Only", Career Development, Drugs and Pharma, Health Economics, Health Insurance, Insurance Matters, Videos | Tagged: , , , , | Leave a comment »