Deep Dive into Receivables
If you haven’t done so already, employ the help of your biller, billing company or a seasoned administrative staff member to clean up both insurance and patient aging. Start with insurance aging to ensure patient balances are correct before attempting to collect one last time this year. Begin by running two separate reports. In both…
Read MoreComply with BOI and File your Company Info with FinCen
Comply with the Beneficial Ownership Information (BOI) reporting rule and file your company information with the Financial Crimes Enforcement Network (FinCen) The rule applies to companies created or registered to do business in the United States before January 1, 2024. These companies must file by January 1, 2025. According to FinCEN’s website, a person who willfully…
Read MoreWhy Not Claim Another MIPS Exception?
Those of you who read my emails and attend or watch/listen later to my webinars (now available on the SoundCloud App so there is no need to be confined to a screen as you learn about relevant practice management and planning for the future) are aware of my feelings about MIPS…If I were a physician…
Read MoreLump, Bump, Something There
As we all know, the reason for visit reported by patients at the time of appointment scheduling often presents differently in person. For this reason, I always encourage staff to pay close attention when evaluating patients and look beyond the NLDOCAT. By doing so better information is provided to doctors prior to entering the treatment…
Read MoreFinCEN (Anti-money laundering law)
Yes, you have to report I have received several questions regarding Beneficial Ownership Information Reporting through FinCEN.gov (The U.S. Treasury’s Financial Crimes Enforcement Network) and whether or not it is legit (aka, do you have to report?). The answer is yes. And for most of us, we have until January 1st 2025 to do it. FinCEN launched the BOI E-Filing…
Read MoreThrow Away Those Old ABN Forms
On April 4, 2023, the Office of Management and Budget (OBM) approved an updated Advance Beneficiary Notice of Non-coverage (ABN) form which took effect on June 30th, 2023. The previous form could be used up until June 29th. Just to review, here is an overview of the ABN and when you should be filling it out, having…
Read MoreTwo Column Scheduling Works
Many podiatrists have heard me speak ad nauseum about the art of scheduling and my great regard for the two-column appointment calendar. This involves one column for established patients/follow up appointments and a second for new patients, scheduled in either 30 or 45-minute increments (think back to my theory about appropriate allotment of time for…
Read MoreFriday Philosophy-“Cross Your Arms The Other Way”
Many individuals (and in my experience, most physicians) fear change in the same way that those of us who grew up in the 70s, 80s and even the early 90s feared horror movies. You know what I’m talking about. When they were filled with terrible (although we didn’t know they were terrible) special effects, unpredictable…
Read MoreIn 2024
Twenty plus years ago when I began working in the field of Podiatry (yikes that makes me feel old), the climate of private practice and healthcare in general was very different than today. It was not uncommon for podiatrists to treat patients in multiple locations (whether they were solo or had multi-physician practices) and their…
Read MoreMoney Doesn’t Always Motivate
I recently received a message from a long-term client/practice owner thanking me (she actually called me a genius in the text, but I won’t let that go to my head)…The first was for helping her and her partners to achieve higher new patient numbers and a new record for cash product “sales” (although as you…
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