GSS Insight - Physician Services Articles
Demand for skilled healthcare workers climbs in 2013
With thousands of members of the Baby Boom generation reaching retirement age each day, it shouldn't come as a surprise that healthcare is one of the hottest career fields in 2013. Nearly one in four healthcare employers has a position open that it can't find qualified talent to fill.
Court rules advances to new doctors taxable
Two newly hired physicians given advances by a clinic were told that they wouldn't need to repay the money if they remained employed by the clinic for five years. But what about taxes? A federal district court recently weighed in on whether the advances were loans or taxable income.
Practice's entity choice impacts new taxes
Your practice's organizational structure may have an impact on how much you pay in new taxes as a result of the Patient Protection and Affordable Care Act and the American Taxpayer Relief Act. It makes a difference if you are a C corporation, S Corp, LLC, partnership or sole practitioner.
Deadline nears to avoid eRx penalties in 2014
Physicians have until June 30 to act to avoid Medicare's 2 percent penalty under the Electronic Prescribing (eRx) Incentive Program. Those who don't will receive only 98 percent of their Medicare Part B fee-for-service payment for covered services next year.
New study shows concerns with healthcare software
One in six healthcare professionals is considering switching from their electronic health record platforms this year because the software isn't meeting the needs of the practice, according to a new survey. Some also want cloud computing and integration with mobile devices.
Reach out to patients with a practice newsletter
Don't underestimate the importance of keeping in touch with your patients. It's another way of saying "We care." A monthly or quarterly newsletter informing patients of medical topics of interest could be sent to current patients, as well as nonpatient groups in the community.
Federal action helps physician-victims of ID theft
Physicians are as vulnerable to identity theft as anyone. Approximately 5,300 Medicare provider numbers have been found to be compromised, according to a recent study, and a third of medical identity thefts are not even discovered until at least a year after they occur.
Is a cash balance plan your retirement solution?
One of the fastest-growing retirement savings options for small firms is a little-known hybrid called a cash balance plan. Plan designers say it is ideal for an owner earning more than $250,000 a year who wants to maximize pretax retirement savings over what is contributed to a 401(k) or pension plan.
Time running out for ICD-10 coding
When the Centers for Medicare & Medicaid Services postponed the ICD-10 implementation deadline to Oct. 1, 2014, it may have given some practices a false sense that they have plenty of time to get the work done. Be sure you allow enough time.
Patient engagement is key to incentive payment
Your patients' actions may hold the key to whether you can achieve meaningful use of electronic health records and receive an incentive payment under Stage 2 rules released last August. Physicians will need to offer patients the ability to view online, download and transmit their health information.
Fraud in your practice calls for tough measures
In tough economic times, physicians should be diligent about protecting their practices from fraud and embezzlement. Medical practices are not insulated from the potential threat posed by dishonest employees.
Doctors: Don't leave money on the table in 2013
There's still time for physicians to take advantage of the incentives offered through the Medicare and Medicaid Electronic Health Record Incentive Programs. Physicians who start in 2013 can earn incentives totaling $39,000 over a four-year period.
Don't let frustration at work impact your service
People are the heart of a medical practice. Patients, staff members, vendors - people are our reason for being. Yet, dealing with people can be frustrating. Here are a few suggestions for reducing your frustration level when dealing with others.