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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Case Study: The Perils of Password Sharing
GT and ZR are the two main new-patient schedulers for a busy medical practice. There are many shared tasks in their jobs. It is convenient … [Read More...] about Case Study: The Perils of Password Sharing
Why Patient Engagement Really Does Matter
The practice of great medicine includes a hefty dose of patient engagement because excellent medical care requires a partnership to achieve … [Read More...] about Why Patient Engagement Really Does Matter
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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?
The Basics of Balance Sheet Analysis
The most well-understood financial statement is the profit and loss statement. Over a stated period of time—typically, a month, a quarter or a … [Read More...] about The Basics of Balance Sheet Analysis
Prior Authorizations Need Priority Solutions
The prior authorizations game is no game at all. Our patient’s well-being is at stake, and so is our own. The stress and frustration associated with … [Read More...] about Prior Authorizations Need Priority Solutions
My Practice will Never be Hit by Ransomware
One of the biggest mistakes physicians and practice managers can make is to assume they will not be a target of cyberattacks. Unfortunately, this is … [Read More...] about My Practice will Never be Hit by Ransomware
Personal Cybersecurity Tips 2021
Physicians and practice managers are constantly reminded by the media about how important cybersecurity is to their medical practice. The news is … [Read More...] about Personal Cybersecurity Tips 2021
Medical Practice Cash Management
How to Manage the Cash in Your Practice Managing cash in your medical practice is a bit like driving on the interstate. Yes, there are certain … [Read More...] about Medical Practice Cash Management
Appointment Reminders
Almost every office and hospital use patient appointment reminders. Some are poor, others mediocre, and some do a relatively good job. In the present … [Read More...] about Appointment Reminders
Case Study: MJ Sounds Like a Perfect Employee
MJ has worked with the practice for more than15 years, managing the back-office and the bookkeeping. Not only is he a valued and trusted member of the … [Read More...] about Case Study: MJ Sounds Like a Perfect Employee
What Do Physicians Need to Know About Website Development?
Just like physicians, web developers have their own specialized jargon, including terms like responsive design, search engine optimization … [Read More...] about What Do Physicians Need to Know About Website Development?