The National Health Care Anti-Fraud Association estimated that healthcare fraud costs the nation $68 billion annually. (BCBS, n.d.) An article on the Physicians Practice website published February 18, 2021, stated, “In January 2020, the U.S. Justice Department reported that over $2.6 billion had been recovered from lawsuits relating to medical fraud.
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Are you using cost segregation, an approved IRS strategy, to reduce your income tax obligations? Read the article to learn more!
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In today’s complex and compliance-mandated healthcare environment, we must take the time to cultivate and develop talent in our offices. Training is not an expense but an investment in our business.
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The financial stability of any practice starts with the UCR (usual and customary) fee schedule. All too often, we neglect to review and update our fees each year. Problems arise when our expenses go up each year due to inflation and our fees stay the same.
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October is National Women’s Small Business Month. “National Women’s Small Business Month is a time to recognize and applaud the talented, dedicated, and driven women whose entrepreneurial spirit helps drive our nation’s economy forward,” said Carla Harris, Chair of the National Women’s Business Council. This is an opportunity for us to recognize and celebrate the hard work of women in our profession.
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Employee recruitment and retention are vital for any business. The turmoil caused by the coronavirus could make this even more critical. Businesses are attempting to rebound after a period of closing or dormancy but are facing openings and other staffing issues.
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Most patients come into our offices with recent injuries, or not so recent, which have finally become unbearable. Often, we are the last stop before surgery. Truthfully, the patients who need us most are the ones in our communities who are the healthiest. Athletes can rely on chiropractic physicians to reach peak performance levels and minimize the stresses that sports and training can put on their bodies. This is especially important for youth athletes, with seasons lasting longer and training becoming more competitive.
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Current wisdom in the world of business suggests that companies can benefit greatly from developing a strengths-based company culture. What’s that? It means having your employees do the work that suits their strengths and hiring people with the strengths needed for their roles. This thought raises a serious question for your practice. In the name of capitalizing on your team’s strengths, should you be outsourcing compliance?
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