Ten ways to take control of your practice; physicians often overlook these key components of management

Article Abstract:

Physicians can improve the management of their medical practices in a number of ways. For example, they can monitor their cash flow and other financial statistics and hire a well-qualified accountant. In addition, they can track their income by payer and figure out revenue per procedure. They can also monitor referrals from other physicians and learn to negotiate to their advantage on leases and other contracts. Other tips for good management include instituting sound office policies, reviewing employee compensation and making electronic claims.

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Don't let out-of-state 'use' tax catch you by surprise

Article Abstract:

States can assess a 'use' tax on tangible goods that were purchased out-of-state without the payment of sales tax, then brought into that state for usage. Items in a physician's practice that might be eligible include medical supplies, computers, office equipment, and magazine subscriptions. Another piece of advice for physicians is to register new medical practices with the proper state and federal authorities, obtain tax identification numbers, fill out the proper federal employment forms, and market the new practice.

Public Finance Activities, Revenues-State Govt, Analysis, Taxation, Health care industry, Column, State government, Revenue, Use tax, Use taxes

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How practices should get ready for managed care

Article Abstract:

Physicians should examine their medical practices in order to prepare for managed care contracts and competition. One of managed care's concerns is with patient satisfaction, such as waiting times and scheduling. Using physician assistants and nurse practitioners can help reduce waiting time and decrease the amount of time a physician spends on routine or minor problems. Physicians should also analyze the financial impact of managed care on revenue.

Health Care, Health Care and Social Assistance, HEALTH SERVICES, Medical care, Managed care plans (Medical care)

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