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: Manage A Schedulers Time
A practice of four physicians and four nurse practitioners has five schedulers—one for each physician/NP pair and one to handle new patient … [Read More...] about Case Study: Manage A Schedulers Time
Practice Buy-Ins: Don’t Ignore the Real Estate
When buying into a medical practice, it is common to have the opportunity to buy into the medical office building as well. The practice … [Read More...] about Practice Buy-Ins: Don’t Ignore the Real Estate
Latest Articles
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?
Prevent Embezzlement by Sweating the Small Stuff
There are more ways to separate you from your money than you can imagine. Novel embezzlement strategies occur but are likely rare. Much more … [Read More...] about Prevent Embezzlement by Sweating the Small Stuff
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
Managing Provider-Initiated Appointment Cancellations
Provider-Initiated Appointment Cancellations arise when the provider will not be available for the encounter. These can occur for many reasons … [Read More...] about Managing Provider-Initiated Appointment Cancellations
Case Study: PT Manages the Practice Without Building Relationships
PT, a new office administrator for a practice, has been in the position for nine months. The physicians are all pleased with how PT shares business … [Read More...] about Case Study: PT Manages the Practice Without Building Relationships
Case Study: Dr. SR Has a Poor Visit to a Practice Recruiting Him
Dr. SR is interviewing with a midsize practice. He does not know the practice well on a personal level, he has family in the area and is optimistic … [Read More...] about Case Study: Dr. SR Has a Poor Visit to a Practice Recruiting Him
Case Study: The Effect of Patient Engagement on Medical Practice Efficiency
Dr. A and Dr. B have been partners in a medical practice for a long time and see a similar patient population. However, they manage patient … [Read More...] about Case Study: The Effect of Patient Engagement on Medical Practice Efficiency
The Physician Recruitment Visit
Determining what you need in a new physician for the practice is just the first challenge. After that comes making initial contacts, which can be a … [Read More...] about The Physician Recruitment Visit
Case Study: The New Practice Administrator
PM has been with a practice for 18 months. He has great credentials and can handle the finances, regulatory requirements, and computer issues. The … [Read More...] about Case Study: The New Practice Administrator