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Establishing Staff Accountability

By: Marc Lion – Mazars USA

The warning signs of office deficiencies leading to profit leaks are numerous and common. Eight employees texting just 15 minutes a day can add up to profit loss of $9,000. A medical practice’s human resources department is one potentially problematic area where profit leaks exist. In one of my previous articles, I noted the importance of developing your team with a focus on accountability. Now, we will explore how to identify the deficiencies that exist in your practice with respect to human resources and how to correct them.

MIPS 2020 Reporting

2020 MIPS reporting starts January 4, 2021 until March 31, 2021. Keep in mind that registries may have an earlier deadline than March 31. MIPS is a Medicare reporting program that consolidates the previous quality reporting programs.

Patient Overpayments and Escheat Laws

Every physician practice has patient and/or payer overpayments on their books and every state has an escheat law. As such, holding on to these overpayments could put you in violation of state law – and states are starting to target physician practices for enforcement. Every state has laws (called escheat laws) that require businesses to turn over unclaimed funds and other property to the state after a dormancy period.

Recent Blog Posts

In my Blog posts, I cover topics related to Accounting and Tax, Litigation Support for Medical Practices, Managed Care Contract Negotiations, Medical Practice and Healthcare Entity Valuation, Medical Practice Assessment, Medical Practice Brokerage, Medical Practice Management, and Medical Practice Merger Advice. I also cover other topics related to today's Physician Practices and other Healthcare Industry related subjects. Stop by for the latest news on these, and many other topics.

Reed Tinsley, CPA
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My firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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