Podcast terbaik Private Medical Practice (2024)

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Understanding Employer's Responsibilities For Employee taxes 9:26

1+ y ago9:26

9:26

Understanding your obligations surrounding employee taxes is crucial for operating a successful business, whether you're an employer or an aspiring entrepreneur. In this episode, we explore the four primary types of employee taxes: • Federal and State income tax Withheld by employer Employer responsible for submitting • FICA Funds Social Security a…

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Stark and Anti-Kickback Primer 12:00

1+ y ago12:00

12:00

The Stark Law prohibits physicians from referring patients to entities in which they have a financial interest to prevent financial incentives from driving medical decision-making. The Anti-Kickback Statute prohibits the exchange of anything of value in exchange for referrals for services. Examples of Stark Law violations: A cardiologist refers pat…

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Business Insurances You're Probably Not Thinking About 12:15

2y ago12:15

12:15

Insurance is one of those things you never want to need or use. But, unfortunately, when life happens having insurance can save you. Some types are pretty obvious but there are some you probably haven’t thought yet. That doesn’t mean you don’t need them. In this episode, I'll tell you the types of insurance your practice needs to mitigate its risks…

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Understanding Your Exit Strategy Options with Eric Miller 39:31

2y ago39:31

39:31

Owning a private medical practice is a journey. Initially, you're focused on how to get the practice up and running. The next phase is how to best run the practice. Over time, you transition to how to grow and leverage the practice. And, at some point, you will want to leave the practice that you started. Having a roadmap definitely makes the journ…

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More Patients, More Revenue with Zed Williamson 43:01

2y ago43:01

43:01

More patients equals more money. Right? Not necessarily. If you want to grow your practice, you're probably thinking how do I get more patients. But is that really the right question to ask? In today's episode, I had the pleasure of having Zed Williamson from TrackableMed back with me to address what you should be asking. For starters, increasing y…

1
Mistakes Help You Grow Your Practice 37:50

2y ago37:50

37:50

You've probably heard me say that medicine is a business. It takes work to run a successful business. There are good days and bad days. And, no matter how hard you try, like all business owners, you'll make mistakes. That's the truth. But with mistakes comes experience. The key to running a successful private medical practice, or any business for t…

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Developing Your Practice's 2023 Strategic Plan 10:21

2y ago10:21

10:21

In this episode, I'll outline the key steps you need to develop your practice's strategic plan for the new year. The first step: doing a review of the past year. For this you will need a few things: 2022 Profit and Loss statement 2021 Profit and Loss statement (so you can look at the year-over-year changes) Year end billing reports To develop this …

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What I Need To Do Labs In The Office with Dr. Heather Signorelli 41:20

2y ago41:20

41:20

You never know when your mother-in-law will turn out to be a valuable asset to your practice. Mine was a lab technologist who had started up and ran multiple medical labs. When we told her that I had decided to start my own practice, one of her first questions was "what labs are you planning to do?" followed by you need a CLIA Waiver. Say what? I h…

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Nuts and Bolts of Medical Real Estate with Colin Carr 50:53

2y ago50:53

50:53

Finding space for your medical practice can seem very intimidating. So when someone asked me for a consultant in the Dallas-Ft. Worth area to help them figure out where to look for space for their new office I realized that I need to address this topic head on. You don't need to pay a consultant for this. You need a commercial realtor. That's why I…

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Drug and Medical Device Reps Help Leverage Your Practice 56:06

2y ago56:06

56:06

Drug and Device reps often drop into medical offices--usually uninvited. And they seem to always to be there at the most inopportune times. Most annoying is when they camp out in the back waiting for you. It's no wonder that many physicians have disdain for Drug and Device reps. If this is your attitude, you're missing out on a great (free) opportu…

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EMPLOYEE VS INDEPENDENT CONTRACTOR: What You need to know 9:09

2y ago9:09

9:09

I’m frequently asked about the benefits of hiring employees versus having independent contractors. Many physicians are under the impression that hiring someone as an independent contractor is going to be less expensive than as an employee. But not so fast. The IRS has rules. The employer is responsible for determining if the new hire meets the crit…

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Top 5 Things My Healthcare CPA Wants You to Know with Jeremy Kilbert, CPA 42:37

2+ y ago42:37

42:37

When I started my medical practice I quickly learned that there's much more to accounting than quickbooks. My CPA firm, with its extensive healthcare experience, has served a phenomenal business advisors. In this episode of The Private Medical Practice Academy, Jeremy Klibert CPA and I discuss some of the pressing questions that private practice ph…

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Why You Need An ABN 11:02

2+ y ago11:02

11:02

You want to offer a service to a patient but you aren’t sure that Medicare will reimburse you. Is there something you can do to increase the chances of getting paid? The answer is an advanced beneficiary notice of non-coverage (ABN). You use an ABN when you are offering a service that is usually reimbursed by Medicare but may not be reimbursed by M…

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Don't Let Calling Your Office Be A Nightmare with Zed Williamson 45:00

2+ y ago45:00

45:00

We've all heard, "First impressions matter." Calling your office to schedule an appointment is your patient's first interaction with you and your practice. That call defines whether the patient schedules an appointment. And, their attitude toward future interactions with you and your office. Today, Zed Williamson from TrackableMed joins me to discu…

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Improve Patient Care and Generate Revenue: Remote Monitoring 15:49

2+ y ago15:49

15:49

One of my greatest frustration with practicing medicine is poor patient compliance. You spend time educating the patient and discussing the treatment plan. When you see them back in follow up you discover they haven't followed through. If you are lucky, they are the same. Unfortunately, sometimes they are worse. Using FDA-approved devices, remote m…

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Understanding Payer Audits With David Vaughn JD, CPC 35:34

2+ y ago35:34

35:34

Are you afraid of getting audited by insurance companies or Medicare? Do you get anxious when one of the payers sends you a request to audit 5 of your charts? Have you heard horror stories of the Feds knocking on a physician's door? Don't worry--you are not alone. But not all audits are created equal. Today David Vaughn joins me to discuss what you…

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Add Chronic Care Management (CCM) and Principal Care Management (PCM) To Your Practice 12:40

2+ y ago12:40

12:40

In 2015, the Centers for Medicare & Medicaid Services (CMS) introduced Chronic Care Management (known as CCM) with the intent of improving the care of patients with chronic conditions. CCM offers physicians an opportunity to be compensated for the work that they were doing between office visits including but of course, not limited to calls, educati…

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Demystifying Malpractice Insurance with Jennifer Wiggins, Aegis Malpractice 38:54

2+ y ago38:54

38:54

If you are an employed physician, chances are your employer purchases malpractice insurance for you. Your first introduction to the complexities of malpractice insurance may come when you leave that employer and have to buy a "tail." And, if when you start your own practice you'll need to understand how to get the best malpractice insurance. Today,…

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In Network vs. Out-Of-Network with Guest: John Lin MD 37:43

2+ y ago37:43

37:43

Today I had a great chat with Dr. John Lin about how to think about choosing to be In-Network vs. Out-of-Network. We all know that dealing with health insurance companies can be very frustrating. But reimbursement rates are only a part of what makes dealing with these companies a headache. Trying to decide whether it makes sense for you and your pr…

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How Medicare's Local Carrier Determinations Affect You 11:05

2+ y ago11:05

11:05

You’re a Medicare provider. And you know that the Centers for Medicare and Medicaid Services (CMS) runs Medicare. But did you know that CMS is just the umbrella organization? The actual administration is done by a Medicare Administrative Contractor (MAC.) What is a MAC? A MAC is a private health care insurer that’s been awarded a geographic jurisdi…

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Supplying Your Practice: Should You Join A GPO? 10:59

3y ago10:59

10:59

To start with, make a list of supplies that you everything you need: drugs, syringes, gloves, paper for your exam table, cleaning supplies and more. Include how often you are using these supplies because we’ll need this info to figure out the quantities you need to order. You’ll want to develop an inventory system will help you track how often you …

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Tips for Staying on Schedule 13:25

3y ago13:25

13:25

Here are some strategies that can help keep you on schedule. Get to clinic before your first scheduled patient. Preferably you get to clinic early. If you show up at 8 am, your first patient is at 8am and then you first need put out whatever this morning’s fire is, you start the day off behind and you will be all day long. The other advantage to ge…

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Strategies for Reducing After Hour Phone Calls 14:33

3y ago14:33

14:33

To reduce the volume of after-hour phone calls, you need to have a policy that implements these strategies. Implement strategies that help reduce after-hour call volume without sacrificing patient care. 1. Set up your phone system's phone tree When a patient calls after hours, your phone system should answer and give the patient a set of instructio…

1
Business Associate Agreements 12:00

3y ago12:00

12:00

When you run a private medical practice, you’re invariably going to need services and vendors outside of your practice. What you need to know is that any person or organization that you hire to handle, use, distribute, or access protected health information is a Business Associate (BA) and that you need to have a Business Associate Agreement (BAA.)…

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HIPAA Compliant Email 11:53

3y ago11:53

11:53

We send and receive email every day so it would seem natural to send emails to your patients. But what if the emails contain protected health information? How do you make email HIPAA compliant? How you will use email with protected health information The first questions to ask are, “Is my email network is behind a firewall?” Are you only emailing p…

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Using The Digital Space For Your Practice-An Interview with SoMeDocs Founder, Dr. Dana Corriel 31:55

3y ago31:55

31:55

Trying to figure out how the digital world fits into your private practice can seem very overwhelming. Today, I had a great conversation with Dr. Dana Corriel, a board certified internist, entrepreneur, digital stratgeist and the founder of doctorsonsocialmedia.com to get her insights. Here are some of the key points we discussed: Social Media is M…

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Episode 52: Getting Ready For Opening Day 13:34

3y ago13:34

13:34

I’m sure that you’ve heard the expression: build it and they will come. You started your private practice because you want to see patients. But how do you build your patient volume? In this episode, you'll learn 6 steps to accelerate your ramp-up. Define your message Differentiate yourself from the competition Create your brand The name of your bus…

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Episode 51: Social Media Marketing and Your Practice 37:27

3y ago37:27

37:27

In this episode, I had the pleasure of chatting with Wendy Margolin who owns Sparkr Marketing and is the founder of The Clinician’s Social Media Club. I asked Wendy to join me to discuss where social media fits into the private practice physician's business plan. Here are some of the topics we discussed: How to choose which social media channel(s) …

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Episode 50: How to Avoid a HIPAA Danger Zone: The Notice of Privacy Practices form 9:59

3y ago9:59

9:59

The Notice of Privacy Practices is a form that many patients toss in the garbage but that can you into a lot of trouble and costs an enormous amount of money. HIPAA guarantees a variety of patient rights--including a patient’s right to know how you’re going to use their Protected Health Information (PHI.) As part of that, you are required to descri…

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Episode 49: Things You Have To Consider When Firing A Patient 13:10

3y ago13:10

13:10

If you practice medicine, sooner or later you’ll get to the point that you want to fire a patient. Whatever the reason that you may have for terminating the physician-patient relationship, there needs to a clear and consistent policy and procedure for doing so or you're exposing yourself to hassles and unnecessary potential liability. Once you have…

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Episode 48: Finances, Your Practice and Your Significant Other: Interview with Dr. Brent Lacey 35:11

3y ago35:11

35:11

New ventures require money. The question is always where does that money come from. It may come from your savings, a loan or other investors. Regardless of whether you are starting your own practice, buying into a practice or related business (ASC, Imaging Center, etc)--you will need to make a capital investment. In this episode, Dr. Brent Lacey an…

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Episode 47: Keys to Hiring A Practice Manager 14:23

3y ago14:23

14:23

What is the difference between an office manager and a practice manager. If you hire someone to help manage your practice—regardless of how small it is—that employee is a practice manager. What are the tasks that practice managers may be responsible for? Here's just a short list: All things Human Resources Oversee billing and understand revenue cyc…

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Episode 46: A Successful Lifestyle Medicine Practice: Interview with Dr. Cheng Ruan 32:14

3y ago32:14

32:14

In this episode, I have the great pleasure of chatting with Dr. Cheng Ruan, the founder of Texas Center for Lifestyle Medicine. Dr. Ruan started out in an internal medicine practice before starting his extremely successful and lucrative lifestyle medicine practice. Here are some of the key points we touched on: The importance of understanding every…

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Episode 45: Key Skills Your Front Office Staff Must Have 13:15

3y ago13:15

13:15

You need to hire someone for your front desk. But before you sit down to write the ad for that position you first need to understand what it is that you want that front office person to do. The first impression that people have of you is their experience when they walk in your front door. The person at the front desk is the first person from your o…

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Episode 44: Credit Card Processing Fees Eat Into Your Profit 26:39

3+ y ago26:39

26:39

If you are like me, you never carry cash. I pay for EVERYTHING with my credit card. And, as a consumer, I get annoyed if a place doesn't take credit cards. I never actually think about the vendor side of things. I figure they bundle the cost of taking credit cards into whatever they're charging me. The problem for physicians who are in-network is t…

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Episode 43: Understand The No Surprises Act or Be Prepared to Lose Money 13:03

3+ y ago13:03

13:03

If you are an out-of-network provider for an insurance company you may perceive that you can get better reimbursement--in large part because, in some states, you can balance bill the patient. But all of that's about to change. When the No Surprises Act, a federal law, goes into effect on Jan 1, 2022, you'll no longer be allowed to balance bill. But…

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Episode 42: Maximize Your Revenue With Clean Claims 13:27

3+ y ago13:27

13:27

Submitting clean claims is key to maximizing your ability to collect the money that is due to you. What is a clean claim? The claim for payment has to be submitted via an acceptable claim form or electronic format with all required fields completed with accurate and complete information in accordance with the insurer's requirements. What is the sig…

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Episode 41: FMLA's Impact On Your Practice 11:32

3+ y ago11:32

11:32

Employees often ask about taking leave through the Family Medical Leave Act, otherwise known as FMLA. As the employer, like when you own your own practice, you need to understand FMLA and everything that goes along with it. FMLA allows employees to take an unpaid leave of absence for up to 12 weeks for medical reasons or family reasons. The first t…

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Episode 40: How to Choose Your Best Malpractice Coverage 17:38

3+ y ago17:38

17:38

Types of malpractice insurance policies: Claims-Made Coverage With a claims-made policy, your insurer will only cover malpractice claims if the claim is made against you while you are covered. With claims-made coverage you will need tail coverage if you leave the practice or insurance company. Occurrence Coverage This is the broadest and most prote…

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Episode 39: Why YOU want to add Remote Patient Monitoring to your practice 18:48

3+ y ago18:48

18:48

There are several reasons that you should want to add RPM to your practice: You can take better care of your patients RPM can improve patient accountability RPM can improve patient satisfaction RPM can help your practice meet value-based reimbursement criteria You can get paid for RPM RPM refers to technology and practices that help practitioners t…

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Episode 38: RVUs and CPT codes: Understanding How You Get Paid 15:05

3+ y ago15:05

15:05

Physician compensation is often based on RVUs. But, in reality, RVUs actually have no monetary value. So in order to understand productivity and revenue you have to know what an RVU is, how it’s determined and how to determine what it’s worth. In this episode, you'll get all this info and more. RVU stands for relative value units and are basic comp…

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Episode 37: You Need A Facebook Business Page 12:21

3+ y ago12:21

12:21

Baby boomers and household decision makers--the target demographic for most medical practices are on Facebook. In other words, your ideal patients are on Facebook right now. That’s why I want to talk to you about why you need a Facebook business page and what you are supposed to do with it. First, Facebook is free. There’s no charge to create a Fac…

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Episode 36: What Benefits Do I Need To Offer? 12:35

3+ y ago12:35

12:35

Salary is only part of the overall compensation package. Potential hires often rank benefits as one of the top factors impacting their decision to accept a job offer. Today I'll tell you about how to figure out what you want to include in your benefits package so that you can recruit and retain quality staff while being financially responsible. Whe…

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Episode 35: Should I Join An IPA or CIN? 11:10

3+ y ago11:10

11:10

One of the questions that I’m frequently asked is whether physicians should join a provider network? First, let’s get the alphabet soup mumbo jumbo out of the way. IPA stands for Independent Practice Association and CIN stands for Clinically Integrated Network. Today, I’m going to talk about the things that you will want to think about when conside…

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Episode 34: How Much Should You Pay Your Staff? 15:12

3+ y ago15:12

15:12

Trying to figure out how much to pay your employees can be a very daunting task. On one hand, you want to pay enough to get the best possible talent. On the other hand, you don't want to overpay. In this episode, I’ll walk through how to figure out what salary to offer. Establish a salary range Salary.com will give you salary ranges by position and…

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Episode 33: You NEED a Compliance Plan 13:46

3+ y ago13:46

13:46

Everyone knows that there are lots of rules and regulations in healthcare. In order to help you complying with all of the complicated healthcare laws, I'm going to tell you why you need a compliance plan and what it needs to include. Before I get started, I want to get one common misconception out of the way. A lot of people think that you only nee…

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Episode 32: Why Your Website Is Your Best Marketing Tool 20:02

3+ y ago20:02

20:02

Your website serves as the central hub for information about your business and a direct impact on your marketing efforts. You own your domain name and your website. Because of this, you control the content and who sees it. Do I really need to have a website when first starting out? Yes! Even if you are employed you can use your website to provide i…

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Episode 31: How To Choose The Right Bank For Your Medical Business 16:32

3+ y ago16:32

16:32

Here are 3 key things that you want to assess when assessing a bank’s quality of service: You want a bank that demonstrates a firm understanding of a medical practice’s unique cash flow needs. As we all know, medical businesses function differently than a typical business. What services are offered to you and how much they cost is largely impacted …

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Episode 30: What Your New Patient Packet Must Have 15:52

3+ y ago15:52

15:52

You’ve scheduled your first patient. But that's only the first step in getting them to that first visit. You need a new patient packet. The new patient packet has two purposes: To collect information from the patient To provide information to the patient There are several ways in which your patient can access the new patient packet: Through your EM…

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Episode 29: Revenue Cycle Management: What is it? Why is it important to you? 15:00

3+ y ago15:00

15:00

Revenue cycle management refers to the process of identifying, collecting and managing a practice’s revenue from payers based on the services provided. The revenue cycle begins when the patient makes the appointment and ends with successful payment collection. The first step in the revenue cycle happens when the patient schedules an appointment. Yo…

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