There has been a flurry of legislative activity since the beginning of the pandemic one year ago. One item that might have flown beneath your radar is the federal Employee Retention Credit (ERC). If your practice was shut down by government order and/or suffered a 50% or more decline in revenue in 2020, then you may be eligible for a $5,000 per employee tax credit. The credit is calculated as 50% of the first $10,000 in wages paid to each employee during the shutdown/revenue decline period. This credit is captured by amending … [Read More...] about Employee Retention Credits
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Cybersecurity for Medical Practices
Why Does Cybersecurity Matter? So why should medical practices be worried about cyberattacks? Patient Data! Healthcare organizations are … [Read More...] about Cybersecurity for Medical Practices
The Parking Lot Problem
We built our office and grew our practice. Now, after several years of searching, we finally found the perfect physician to … [Read More...] about The Parking Lot Problem
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The Perils of Phishing—Hook, Line, and Sinker
Phishing is a type of cyberattack using email to trick someone into divulging personal information, including passwords. Health care phishing is … [Read More...] about The Perils of Phishing—Hook, Line, and Sinker
Phone Tree Best Practices
Virtually every patient satisfaction survey reveals patients’ dissatisfaction with getting through on the phone to their healthcare … [Read More...] about Phone Tree Best Practices
Bugs in the Spreadsheet?
Once you have seen your patients and managed your money, you’re then faced with the monthly meeting. For most practices, this includes a review of the … [Read More...] about Bugs in the Spreadsheet?
Preventing Fistful of Dollars Embezzlements
Lucrative embezzlement schemes perpetrated by individuals trained in the management of your books are very real threats. This is not just the stuff of … [Read More...] about Preventing Fistful of Dollars Embezzlements
From Residency to Managing and Growing Your Medical Practice
Starting Out After years of studying, testing, and running on very little sleep, your body is adjusting from the intensive 80-hour work week of … [Read More...] about From Residency to Managing and Growing Your Medical Practice
Great Leaders Are Effective Managers
For years numerous books and articles were written about the art of management, but over the past few years, the pendulum has swung toward a plea for … [Read More...] about Great Leaders Are Effective Managers
Case Study: BY and the Performance Reviews
BY is the clinical administrator for a large multispecialty practice. As part of her role, BY handles clinical evaluations including annual employee … [Read More...] about Case Study: BY and the Performance Reviews
Setting Financial Goals to Forecast and Achieve Financial Results
When it comes to the numbers side of the business, most of my physician clients have a very low pain threshold. I get it, you have plenty on your … [Read More...] about Setting Financial Goals to Forecast and Achieve Financial Results
How the COVID Relief Legislation Impacts You
Biden Signs New $1.9 Trillion COVID Relief Legislation into Law As you might imagine, $1.9 trillion covers a lot of ground. Here are the provisions … [Read More...] about How the COVID Relief Legislation Impacts You