by Mary Pat Whaley | Apr 6, 2011 | Compliance, Finance, Headlines, Leadership
Fiduciary: a duty (from Latin fiduciarius, meaning “(holding) in trust”; from fides, meaning “faith”, and fiducia, meaning “trust”) is a legal or ethical relationship of confidence or trust regarding the management of money. Over...
by Mary Pat Whaley | Mar 10, 2011 | Day-to-Day Operations, Electronic Medical Records, Finance, Human Resources
Staffing your office can be a daily balancing act. There’s no simple formula that one can apply to every practice because each specialty and each situation requires something different. It is very important to right-size your staffing as understaffing can cause...
by Mary Pat Whaley | Dec 12, 2010 | Collections, Billing & Coding, Day-to-Day Operations, Finance
Non-sufficient funds (NSF) checks cost practices time and money. A NSF check (also called a bad check, a bounced check, or a returned check) is one that a patient gives you, you deposit and the bank returns to you because the account is closed or does not have...
by Mary Pat Whaley | Nov 15, 2010 | Finance, Headlines, Medicare & Reimbursement
Please call the AMA Grassroots Hotline, and have everyone in your office/department/building/campus call the Hotline on Wednesday, November 17th (White Coat Wednesday) and every day thereafter until November 30th to insist that Congress vote for the 13-month patch to...
by Mary Pat Whaley | Nov 3, 2010 | Finance
Frank writes: I have finally completed my analysis of the 2009/2010 P/SPS (Physician/Supplier Procedure Summary) Master File. This file contains 100% of all claims submitted to Medicare during a given calendar year, along with a mid-year 5% update. For this analysis,...
by Mary Pat Whaley | May 26, 2010 | Finance
Operating expenses fall into two categories: fixed and variable. Your fixed expenses are the same from month to month regardless of whether you are seeing patients or not. Your variable expenses change from month to month based on the volume of business you do and...
