Medicine & Business

The estate planning process can greatly enhance the overall financial wealth of the family, and allows for a variety of tools to be used to make certain that the individual’s desires are as closely met as possible.

Understanding the strategic value of your practice is the single most valuable methodology to employ to become a key member of the hospital’s medical staff. Once you achieve this status, you can expect to be consulted about hospital decisions, and can broaden and solidify your influence to the institution, and also to your colleagues.

They can and should be negotiated. If the physician-lessee simply signs on the dotted line, he or she will be living with the consequences for years to come.

With the recent proliferation of Medicare Advantage Plans into the payer market and the steady migration of patients leaving the traditional government-run Medicare program and entering private payer MAPs, the claims game is getting tricky again.

A physician must be aware of the parameters of the physician-CRNP relationship before determining if a CRNP is right for his or her practice.

While many physicians may have recently updated their estate plans, there are some issues that really need to be reviewed periodically in order to make certain that your plan is current with regard to both the law and concepts that may have come in to use since the last full estate plan update was done.

If your contract is fair and complete, you diligently prepare for your departure well in advance with the assistance of your attorney, and the other doctors are reasonable, leaving need not be a nightmare.

Hospitals that do not have a patient population that follows these rules will have a more difficult time making a profit and can often be in financial difficulty. Physicians and hospitals need to work together to best take care of their patients within the constructs presented here for all parties to have a harmonious relationship and a successful financial result.

While the benefits to patients are substantial and real, the new endeavor must be approached carefully.

Realizing that diagnosis coding translates into the financial success or failure of a medical practice, we must continually strive to assign accurate codes to services and procedures that we perform. Many new codes were added, some codes were deleted, and many codes were revised.