Hospital Employment v Private Practice. Las Vegas, Nv December 2014

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Hospital Employment v Private Practice. Las Vegas, Nv December 2014"

Transcription

1 Hospital Employment v Private Practice Orthopedic Summit: Emerging Techniques Practice Management Course Las Vegas, Nv December 2014 Louis F McIntyre, MD, PC 311 North St Suite 102 White Plains, NY 10605

2 Presenter Disclosure Louis F McIntyre, MD Disclosure Information Information The following relationships exist: Stock Options: Tornier Medical Speaker Fees: Depuy-Mitek Research Grant: Depuy-Mitek Board Member: AANA, AIM, FairHealth PAB Member Coding, Coverage and Reimbursement Committee of AAOS

3 Hospital Employment 2012 AAOS Survey 9.1%

4 Is Hospital Employment of Orthopedic Surgeons a Good Model? Not ALL Markets are the same! Not ALL Hospitals are the same! Not ALL Orthopedic surgeons are the same! Not all CONTRACTS are the same

5 What you can count on. THE TOP TEN 1. Loose all leverage AFTER you sign so use it up front 2. Once you sign, you are a COMMODITY and will be treated as such 3. You will loose the ability to control your practice and patient care environment

6 What you can count on. 4. People with less knowledge of orthopedic practice management will make decisions about your workplace 5. Your opinion on this will be discounted 6. In the long run, that may hurt your salary

7 What you can count on. 7. You will be measure by RVU productivity and quality metrics 8. Avg physician loses ~20% productivity as an employee 9. Your ability to track productivity is dependent on hospital reporting and documentation

8 10. Second Contract Widespread concern that 2 nd contract will not be as favorable as the first There is always someone willing to do it for less.. We own you now The further you get form a private position the harder it may be to return

9 FIRST, think about what happens if you decide to leave. Consider the non-compete What happens to your OLD records and how will you access the hospitals?? Can you bring employees? Are YOUR patients YOURS? Can you contact them?

10 Hospital Employment: Orthopedic Perspective Negotiations: Maximize your leverage, you lose it when you sign! Even if stressed, remember AND KNOW your total value to the hospital Know MGMA benchmarks for compensation and understand practice valuation methodologies Get info on the hospital finances and case volumes; they will ask for this info from you!

11 Hospital Employment: Orthopedic Perspective Negotiations: Who are you negotiating with, what is there background? Speak to docs that have negotiated with that person in the past DO NOT ACCCEPT that something is NON- NEGOTIABLE Get info on the typical contract prior to initiating discussions

12 Hospital Employment: Orthopedic Perspective Negotiations: Always consider multiple opportunities; look for the best deal Should you negotiate as an individual, or a group? If you are a high earner, maybe better to negotiate alone.

13 Contract: Hospital Employment: Orthopedic Perspective Governance Issues are Key! What type of input will you have in the management of the practice? Try to establish a stable productivity assessment, RVU values change and may affect you salary What if any outside work do you do (IMEs) and will you be able to continue to do this? Will they cover society dues, hospital staff fees, parking, etc

14 Contract: Hospital Employment: Orthopedic Perspective Why accept non-compete, especially if you leave and still do cases at their hospital Pay attention to the termination clauses. You may want to get out of jail! Avoid Loan clauses Look for 1099 clauses Consider that if you leave THEY collect your AR!!

15 What is an Orthopedic Surgeon Worth??

16 Compensation Data: FTE without Ancillary Services Year MEAN MEDIAN 75th% 2006 $353,253 $323,080 $398, $343,648 $338,462 $410, $424,374 $411,503 $487, $450, ,716 $511, $468,987 $441,602 $529, $483,995 $470,917 $656, $470,938 $462,651 $611,278

17 Compensation Data: FTE with Ancillary Services Year MEAN MEDIAN 75th% 2006 $467,638 $445,788 $507, $472,006 $458,124 $543, $513,342 $490,419 $578, $556,801 $517,157 $658, $590,099 $573,109 $660, $600,558 $600,737 $800, $598,500 $572,738 $771,863

18 Hospital Employment: Orthopedic Perspective Loss of Autonomy Loss of Economic Control Loss of Staffing Issues Loss of Strategic Planning Frustration at Living Through Obvious Poor Decisions Uncertainty of Future Contract Terms Employment is a bad model!

19 On Hospital Employment Perhaps a better model is the joint venture Doctors contract with hospital to provide orthopedic services

20 Management Services Organization MSO Maintain all Practice Infrastructure Maintain all Practice Personnel Contract (Separate from Employment Contract) with Hospital for Services Needed to Operate Practice

21 Contractual Model Relationship defined by contract Time-share lease Based on Fair Market Value (FMV) of services provided No joint MD-hospital board MDs can participate in governance through advisory committee

22 Hospital Board Group A $$ Management fee Group B Management Co LLC $$ Hospital Indies Service Line Management Fee: % fixed, % performance

23 Thank You!!

Disclosures. Tips for a Successful Job Search. Introduction. Introduction. Purpose. Format 10/16/2015

Disclosures. Tips for a Successful Job Search. Introduction. Introduction. Purpose. Format 10/16/2015 Tips for a Successful Job Search How to Evaluate Orthopaedic Practice Opportunities Disclosures I have no potential conflicts with this presentation Ryan M. Dopirak, M.D. Wisconsin Orthopaedic Society

More information

Building the bottom line in employed physician networks

Building the bottom line in employed physician networks Building the bottom line in employed physician networks Greg Mertz, MBA, FACMPE, Managing Director, Physician Strategies Group, LLC, Virginia Beach, VA Shrinking margins, rising costs, and the specter

More information

Utilizing Benchmarking to Manage Health Center Operations. Curt Degenfelder Managing Director curtis.degenfelder@rsmi.com

Utilizing Benchmarking to Manage Health Center Operations. Curt Degenfelder Managing Director curtis.degenfelder@rsmi.com Utilizing Benchmarking to Manage Health Center Operations Curt Degenfelder Managing Director curtis.degenfelder@rsmi.com 1 KEY COMPONENTS OF COST PER VISIT! Physician Productivity! Physician Salary & Fringe!

More information

The New Healthcare Marketplace: Hospital Physician Business Models and Healthcare Reform Legislation

The New Healthcare Marketplace: Hospital Physician Business Models and Healthcare Reform Legislation The New Healthcare Marketplace: Hospital Physician Business Models and Healthcare Reform Legislation October 19, 2010 Today s Webinar Presenters Lars Enstrom Managing Director Alvarez & Marsal Healthcare

More information

Employed Physicians: Leadership Strategies for a Winning Organization

Employed Physicians: Leadership Strategies for a Winning Organization Employed Physicians: Leadership Strategies for a Winning Organization Ray Chorey Southeastern Ohio Regional Medical Center President and CEO Thomas Ferkovic SS&G Healthcare Managing Director Practice Comparison

More information

Valuation Primer Physician Practice Acquisitions & Physician Service Agreements

Valuation Primer Physician Practice Acquisitions & Physician Service Agreements Valuation Primer Physician Practice Acquisitions & Physician Service Agreements Introduction VMG Health Overview Valuation and transaction advisory firm focused in the healthcare industry since 1995. More

More information

Finding and Keeping Your Job as a Surgeon: Maximizing Success

Finding and Keeping Your Job as a Surgeon: Maximizing Success Finding and Keeping Your Job as a Surgeon: Maximizing Success It has been estimated that 50% of physicians change jobs within the first two years. 1 A major contributor to physician turnover is a mismatch

More information

4/23/2015. Financial Disclosure. Objectives. The Big 10: The Most Important Metrics Your Practice Should Be Tracking

4/23/2015. Financial Disclosure. Objectives. The Big 10: The Most Important Metrics Your Practice Should Be Tracking Financial Disclosure The Big 10: The Most Important Metrics Your Practice Should Be Tracking Andrew Maller, MBA, COE Elizabeth Holloway, COE, CPSS, PHR BSM Consulting 2015 ASCRS ASOA Symposium & Congress

More information

Outs, and Pitfalls to Avoid. Roger Morris, J.D., R.Ph. roger.morris@quarles.com 602-229-5269

Outs, and Pitfalls to Avoid. Roger Morris, J.D., R.Ph. roger.morris@quarles.com 602-229-5269 Physician Contracting Buy Ins/Buy Outs, and Pitfalls to Avoid Roger Morris, J.D., R.Ph. roger.morris@quarles.com i@ 602-229-5269 Learning Objectives Conduct a comprehensive review of employment contracts

More information

RVU BASED PHYSICIAN COMPENSATION AND PRODUCTIVITY

RVU BASED PHYSICIAN COMPENSATION AND PRODUCTIVITY RVU BASED PHYSICIAN COMPENSATION AND PRODUCTIVITY Ten Recommendations for Determining Physician Compensation/Productivity Through Relative Value Units 2011 Merritt Hawkins 5001 Statesman Drive Irving,

More information

Successful Medical Practice Management: Beyond the Beans

Successful Medical Practice Management: Beyond the Beans Successful Medical Practice Management: Beyond the Beans Susan Turney, MD, MS, FACMPE, FACP President and CEO MGMA-ACMPE About MGMA-ACMPE The largest, oldest and most respected professional association

More information

Raymond E. Dusman, MD, MBA, FACC

Raymond E. Dusman, MD, MBA, FACC Changes in Practice Structure and Integration of Practices: Options for Practitioners in the Face of Declining Reimbursement Raymond E. Dusman, MD, MBA, FACC Presentation to the Indiana Chapter of the

More information

Presented by: Bill Clayton & Ryan Peters wclayton@cshco.com rpeters@cshco.com

Presented by: Bill Clayton & Ryan Peters wclayton@cshco.com rpeters@cshco.com Presented by: Bill Clayton & Ryan Peters wclayton@cshco.com rpeters@cshco.com 2 4/9/2015 Determining the Value of Your Business Our Credentials Clark Schaefer Hackett (Accounting & Consulting Firm) Ryan

More information

BILLING MANAGER INDICATORS: HOW DOES YOUR ORGANIZATION STACK UP?

BILLING MANAGER INDICATORS: HOW DOES YOUR ORGANIZATION STACK UP? CPAs & ADVISORS experience direction // BILLING MANAGER INDICATORS: HOW DOES YOUR ORGANIZATION STACK UP? OHIO ASSOCIATION OF COMMUNITY HEALTH CENTERS ~ 2014 ANNUAL CONFERENCE Wednesday, March 12, 2014

More information

MGMA Cost Survey: 2014 Report Based on 2013 Data. Key Findings Summary Report

MGMA Cost Survey: 2014 Report Based on 2013 Data. Key Findings Summary Report MGMA Cost Survey: 2014 Report Based on 2013 Data % MGMA Cost Survey: 2014 Report Based on 2013 Data Each year, MGMA surveys its members and nonmembers to obtain the most recent cost and revenue data. This

More information

The Practice Financial Performance Report. Reporting. eardon onsulting, Inc.

The Practice Financial Performance Report. Reporting. eardon onsulting, Inc. eardon onsulting, Inc. An Affiliate of The Reardon Group Healthcare, Financial & Management Consulting The Practice Financial Performance Report A Practice Performance Report benchmarks a medical practice

More information

Ambulatory Surgery Centers: Valuation Process & Key Benchmarks

Ambulatory Surgery Centers: Valuation Process & Key Benchmarks Ambulatory Surgery Centers: Valuation Process & Key Benchmarks Chance Sherer, CVA Director 1 PRESENTATION OVERVIEW I. Industry Background II. III. Valuations: When and Why Types of Transactions IV. Overview

More information

Title goes here. Performance Management in the Rural Health Clinic. Idaho Bureau of Rural Health & Primary Care November 5, 2014 12:45 p.m. 1:45 p.m.

Title goes here. Performance Management in the Rural Health Clinic. Idaho Bureau of Rural Health & Primary Care November 5, 2014 12:45 p.m. 1:45 p.m. Performance Management in the Rural Health Clinic Idaho Bureau of Rural Health & Primary Care November 5, 2014 12:45 p.m. 1:45 p.m. Title goes here Jeff Johnson - CPA, Date Partner or subtitle Wipfli Health

More information

Fair Market Value and Commercial Reasonableness in Healthcare: Documenting and Ensuring Compliance, Part II

Fair Market Value and Commercial Reasonableness in Healthcare: Documenting and Ensuring Compliance, Part II Fair Market Value and Commercial Reasonableness in Healthcare: Documenting and Ensuring Compliance, Part II Christine Bachrach, MS Vice President - Compliance HealthSouth One HealthSouth Parkway Birmingham,

More information

David Ramos, MD, MPH, FACC Managing Physician ColumbiaDoctors of the Hudson Valley

David Ramos, MD, MPH, FACC Managing Physician ColumbiaDoctors of the Hudson Valley David Ramos, MD, MPH, FACC Managing Physician ColumbiaDoctors of the Hudson Valley The Changing Landscape of Medicine Changing Culture Demographics Income Terms and definitions RVUs, Restricted Covenants,

More information

Anti-Kickback Compliance in Today s Market. Amid a Sea of Confusion

Anti-Kickback Compliance in Today s Market. Amid a Sea of Confusion Robert Searching roberthomchick@dwt.com Stark and G. Homchick Anti-Kickback Compliance in Today s Market for Clarity Amid a Sea of Confusion Stark and Anti-kickback Stark Law Applies to Physicians and

More information

Valuations and M&A Activity Todd J. Mello, ASA, CVA, MBA

Valuations and M&A Activity Todd J. Mello, ASA, CVA, MBA Valuations and M&A Activity Todd J. Mello, ASA, CVA, MBA Co-Founder and Partner Disclosures Co-founder and owner in HealthCare Appraisers, Inc. No ownership in private or publicly-traded hospital chains,

More information

ASMBS Compensation and Practice Style Survey

ASMBS Compensation and Practice Style Survey ASMBS Compensation and Practice Style Survey Teresa LaMasters MD, FACS Medical Director Bariatric Surgery UnityPoint Clinic Weight Loss Specialists 6600 Westtown Parkway Suite 220 West Des Moines, IA 50266

More information

EXPERTISE OF CONSULTANTS

EXPERTISE OF CONSULTANTS We appreciate the opportunity to introduce our services to Ingram Micro. We believe that you will find Jackson Thornton Healthcare Consultants to be uniquely qualified because of the extensive knowledge

More information

David F. Torchiana, MD Chairman & CEO October 13, 2011

David F. Torchiana, MD Chairman & CEO October 13, 2011 Overview of the MGPO David F. Torchiana, MD Chairman & CEO October 13, 2011 MGPO Organization and History MGPO: Massachusetts General Physicians Organization MGH 1811 Corporation MGH MGPO Formed in 1994

More information

Medical Group Development, PHOs, MSOs, Nonprofit Medical Foundations and Fully Integrated Delivery Systems

Medical Group Development, PHOs, MSOs, Nonprofit Medical Foundations and Fully Integrated Delivery Systems Medical Group Development, PHOs, MSOs, Nonprofit Medical Foundations and Fully Integrated Delivery Systems Medical Group Formation Medical Group Foundation Physician Hospital Organizations (PHOs) Management

More information

Ambulatory Surgery Center Business Planning and Organization Formation

Ambulatory Surgery Center Business Planning and Organization Formation Ambulatory Surgery Center Business Planning and Organization Formation ASC Ownership Considerations for Hospitals and Health Systems Christian Ellison SVP, Corporate Development Health Inventures August

More information

Physician Practice Acquisitions: Legal & Operational Considerations for Effective Integration

Physician Practice Acquisitions: Legal & Operational Considerations for Effective Integration Physician Practice Acquisitions: Legal & Operational Considerations for Effective Integration May 12, 2011 Presented by: Jason S. Greis, Attorney, McGuireWoods LLP Armen Gallucci, Assistant Vice President

More information

Fair Market Value for Physician Compensation Arrangements. Haverford Healthcare Advisors Kirk A. Rebane, ASA, CFA

Fair Market Value for Physician Compensation Arrangements. Haverford Healthcare Advisors Kirk A. Rebane, ASA, CFA Fair Market Value for Physician Compensation Arrangements Haverford Healthcare Advisors Kirk A. Rebane, ASA, CFA Disclosure: Kirk A. Rebane is co-owner of Haverford Healthcare Advisors and part owner of

More information

Practice Management 101

Practice Management 101 Practice Management 101 Program Agenda Market Trends in Eye Care Demographic trends Increased eye care services Medicare challenges Financial Benchmarking Clinic Optical Opportunities for a Successful

More information

About MGMA. Our mission To continually improve the performance of medical group practice professionals and the organizations they represent

About MGMA. Our mission To continually improve the performance of medical group practice professionals and the organizations they represent About MGMA Our mission To continually improve the performance of medical group practice professionals and the organizations they represent Impact of Healthcare Reform on Pediatric Practices William F.

More information

BUSINESS SUCCESSION: PLAN NOW FOR SUCCESS

BUSINESS SUCCESSION: PLAN NOW FOR SUCCESS BUSINESS SUCCESSION: PLAN NOW FOR SUCCESS 6 STEPS TO ACHIEVE YOUR VISION As a business owner, you ve invested time and effort to build a business that supports your family and many others, including employees,

More information

Hospital Acquisition of Physician Practices

Hospital Acquisition of Physician Practices Hospital Acquisition of Physician Practices What is driving physician practice acquisitions? Reimbursement declines in certain specialties leading to decreased physician compensation Healthcare reform

More information

MPAG Product Offerings

MPAG Product Offerings Medical Practice Advisory Group, LLC Post Office Box 110452, Durham, North Carolina 27709 919-321-1656 (o) 919-606-2696 (m) 919-484-8150 (f) E-Mail: info@mdpracticeadvice.com www.mdpracticeadvice.com PRODUCT

More information

Disclaimer. Knowing Your Worth: Calculating Your Productivity. Definitions. Disclosure

Disclaimer. Knowing Your Worth: Calculating Your Productivity. Definitions. Disclosure Knowing Your Worth: Calculating Your Productivity PAOS 2012 Tricia Marriott, PA-C, MPAS AAPA Director Reimbursement Policy tmarriott@aapa.org @TriciaPAC on Twitter Disclaimer This presentation was current

More information

HC Pro, Inc., Audio Conference "Zone Program Integrity Contractors: Learn who the ZPIC's are and How to Avoid a Review" Nationwide November 3, 2009

HC Pro, Inc., Audio Conference Zone Program Integrity Contractors: Learn who the ZPIC's are and How to Avoid a Review Nationwide November 3, 2009 Lorman "Stark Update: Implementing Phase IV" Nationwide November 19, 2009 HC Pro, Inc., Audio Conference "Zone Program Integrity Contractors: Learn who the ZPIC's are and How to Avoid a Review" Nationwide

More information

Society for Radiation Oncology Administrators. Cancer Program Physician Employment Arrangements: What You Should Know!

Society for Radiation Oncology Administrators. Cancer Program Physician Employment Arrangements: What You Should Know! Society for Radiation Oncology Administrators Cancer Program Physician Employment Arrangements: What You Should Know! Boston, Massachusetts September 24, 2008 903 Airport Drive, Suite 3 Ann Arbor, Michigan

More information

Important Disclosures

Important Disclosures Company Overview Important Disclosures This presentation contains forward-looking statements, including financial and other information relating to First Physicians Capital Group, Inc. ( FPCG or the Company

More information

Tennessee Primary Care Association: 2014 Annual Leadership Conference

Tennessee Primary Care Association: 2014 Annual Leadership Conference CPAs & ADVISORS experience momentum // SETTING YOUR ORGANIZATION UP FOR SUCCESS: UNDERSTANDING THE COMPLEXITIES OF THE FQHC REVENUE CYCLE Tennessee Primary Care Association: 2014 Annual Leadership Conference

More information

Physician Compensation Models: A Difficult Era. Submitted to: AAOE e-newsletter. Parts I and II. Tom Ealey

Physician Compensation Models: A Difficult Era. Submitted to: AAOE e-newsletter. Parts I and II. Tom Ealey Physician Compensation Models: A Difficult Era Submitted to: AAOE e-newsletter Parts I and II Tom Ealey Tom Ealey, professor of business administration at Alma College (Michigan) has extensive experience

More information

Management Services Organizations: Efficiency in Payer Engagement. Today s Discussion

Management Services Organizations: Efficiency in Payer Engagement. Today s Discussion Management Services Organizations: Efficiency in Payer Engagement Ohio Association of Community Health Centers July 2014 Contact Us Andrew Principe andy@starlingadvisors.com Amanda Stangis, MPH amanda@starlingadvisors.com

More information

The Physician-Owned Management Services Organization

The Physician-Owned Management Services Organization The Physician-Owned Management Services Organization By Joe Laden A Management Services Organization (MSO) is a legal entity created to provide management and administrative services to other organizations.

More information

Financial Ratio Cheatsheet MyAccountingCourse.com PDF

Financial Ratio Cheatsheet MyAccountingCourse.com PDF Financial Ratio Cheatsheet MyAccountingCourse.com PDF Table of contents Liquidity Ratios Solvency Ratios Efficiency Ratios Profitability Ratios Market Prospect Ratios Coverage Ratios CPA Exam Ratios to

More information

Why Merge Medical Practices?

Why Merge Medical Practices? Why Merge Medical Practices? Somewhere in a physician s professional career in private medical practice, there will likely be the opportunity to merge, acquire and/or sell his/her medical practice with

More information

WHEN TO SEEK LEGAL ADVICE FOR DENTAL PROFESSIONALS William M. Mandell, Esq. Pierce & Mandell, P.C. 11 Beacon Street, Ste. 800 Boston, MA 02108 Tel. 617-720-24442444 www.piercemandell.com Email: bill@piercemandell.com

More information

Demonstrating Your Value

Demonstrating Your Value Demonstrating Your Value Oregon Society of PAs October 25, 2014 Gleneden Beach, OR Michael L. Powe, Vice President Reimbursement & Professional Advocacy Disclaimer Although every reasonable effort is made

More information

Demonstrating Your Value

Demonstrating Your Value Demonstrating Your Value Oregon Society of PAs October 25, 2014 Gleneden Beach, OR Michael L. Powe, Vice President Reimbursement & Professional Advocacy Disclaimer Although every reasonable effort is made

More information

The Power of Revenue Management

The Power of Revenue Management The Power of Revenue Management Presented By Judy Capko Capko & Company www.capko.com The Power of Revenue Management 6/13/07 1 About the Speaker The Power of Revenue Management 6/13/07 2 The Speaker:

More information

The Economics of Outsourcing Billing, Collections, and Contracting. Tom Chirillo President & CEO HealthCare Business Solutions

The Economics of Outsourcing Billing, Collections, and Contracting. Tom Chirillo President & CEO HealthCare Business Solutions The Economics of Outsourcing Billing, Collections, and Contracting Tom Chirillo President & CEO HealthCare Business Solutions Goals of Today s Presentation Establish how important Billing, Collections,

More information

PROMPT PAYMENT, MANAGED CARE CLAIM BILLING AND COLLECTION ISSUES ERIC D. KATZ, ESQ.

PROMPT PAYMENT, MANAGED CARE CLAIM BILLING AND COLLECTION ISSUES ERIC D. KATZ, ESQ. PROMPT PAYMENT, MANAGED CARE CLAIM BILLING AND COLLECTION ISSUES ERIC D. KATZ, ESQ. 1 1 I. PROMPT PAYMENT UNDER THE Laws equally applicable to pars and non pars (as long as there is an assignment) Physicians,

More information

Revenue Cycle Management. A Primer for School Based Health Care Centers Presented By Jane Speyer, Senior Billing Manager OCHIN

Revenue Cycle Management. A Primer for School Based Health Care Centers Presented By Jane Speyer, Senior Billing Manager OCHIN Revenue Cycle Management A Primer for School Based Health Care Centers Presented By Jane Speyer, Senior Billing Manager OCHIN Discussion Overview The Revenue Cycle demystified: How do appointments turn

More information

How to Develop & Implement an Effective Employee Handbook in Your Medical Practice

How to Develop & Implement an Effective Employee Handbook in Your Medical Practice How to Develop & Implement an Effective Employee Handbook in Your Medical Practice Presented by: Deborah R. Mathis, CPA, CHBC Michael S. Lewis, MBA, FACMPE How to Develop & Implement an Effective Employee

More information

WHY THERE WILL BE CHANGE HEALTH CARE REFORM

WHY THERE WILL BE CHANGE HEALTH CARE REFORM Provider Partnerships: Surviving the Change Robert W. Markette, Jr. CHC Of Counsel Hall Render Killian Health & Lyman, P.C. One American Square, Suite 2000 Indianapolis, IN 46282 317-633-4884 Rmarkette@hallrender.com

More information

BILLING COMPANY STANDARDS

BILLING COMPANY STANDARDS BILLING COMPANY STANDARDS ASSESSING PRACTICE VALUE OF OUTSOURCING Cost Saving Efficiencies gained Improved collections Compliance Once a decision to out source is made the following due diligence should

More information

Xynergy Commercial Capital LLC

Xynergy Commercial Capital LLC Xynergy Commercial Capital LLC How Can Work For You The Problem Short of cash and must pay suppliers, lease, bills and salaries? No need for stress, get your payments in advance for your invoices and pay

More information

Complex Fair Market Value Evaluation

Complex Fair Market Value Evaluation Complex Fair Market Value Evaluation Robert A. Wade, Esq. Partner Krieg DeVault 4101 Edison Lakes Parkway Suite 100 Mishawaka IN 46545 Telephone: (574) 485-2002 Fax: (574) 277-1201 bwade@kdlegal.com 1

More information

DAILY SCHEDULE CME Credit 14 As of 09.19.11 THURSDAY, SEPTEMBER 22

DAILY SCHEDULE CME Credit 14 As of 09.19.11 THURSDAY, SEPTEMBER 22 AAOS Practice Forward: Managing your Practice in an Era of Health Care Transformation #3484 September 23-24, 2011; ; Course Director DAILY SCHEDULE CME Credit 14 As of 09.19.11 THURSDAY, SEPTEMBER 22 5:00-7:00

More information

Guidian Healthcare Consulting

Guidian Healthcare Consulting S R STAFFING RATIOS PLANNING FOR PRODUCTIVITY & COST C EFFECTIVENESS Guidian Healthcare Consulting Guidian Healthcare Consulting Guidian works with Community Health Centers to plan financially sustainable

More information

building and sustaining productive working relationships p u b l i c r e l a t i o n s a n d p r o c u r e m e n t

building and sustaining productive working relationships p u b l i c r e l a t i o n s a n d p r o c u r e m e n t building and sustaining productive working relationships p u b l i c r e l a t i o n s a n d p r o c u r e m e n t INTRODUCTION 1 1 THE GROWING INFLUENCE OF PROCUREMENT PROFESSIONALS 2 2 GUIDELINES FOR

More information

Myles Wealth Management, LLC. 59 North Main Street Florida, NY 10921 845-651-3070. Form ADV Part 2A Firm Brochure.

Myles Wealth Management, LLC. 59 North Main Street Florida, NY 10921 845-651-3070. Form ADV Part 2A Firm Brochure. Myles Wealth Management, LLC 59 North Main Street Florida, NY 10921 845-651-3070 Form ADV Part 2A Firm Brochure February 23, 2015 This Brochure provides information about the qualifications and business

More information

CRITICAL GUIDANCE FOR INTEGRATING INDEPENDENT PHYSICIANS. The Surgical and Physician Services Experts

CRITICAL GUIDANCE FOR INTEGRATING INDEPENDENT PHYSICIANS. The Surgical and Physician Services Experts CRITICAL GUIDANCE FOR INTEGRATING INDEPENDENT PHYSICIANS 1 Agenda The dynamics driving the physician market place Practical models for achieving physician alignment Guidance for ensuring success Q & A

More information

Incorporating Anesthesia Services into your Facility

Incorporating Anesthesia Services into your Facility Incorporating Anesthesia Services into your Facility Credentials Marc E. Koch, MD, MBA President & Chief Executive Officer Doctor of Medicine (State University of NY at Stony Brook) Board Certified Anesthesiologist

More information

Locum Tenens Services Connecting Physicians to Communities

Locum Tenens Services Connecting Physicians to Communities Locum Tenens Services Connecting Physicians to Communities Joseph T. Ichter, MHA, DrPH Candidate Director, OHSU Locum Tenens, AHEC Assistant Professor, OHSU Family Medicine October 20th, 2009 Goals Better

More information

Business Survival Guide for Family Practice

Business Survival Guide for Family Practice Business Survival Guide for Family Practice Department of Family Medicine Calgary www.calgaryfamilymedicine.ca Introduction to the Business Survival Guide for Family Practice To encourage those who are

More information

Physician Practice Valuation: Key Concepts to Ensure Compliant Physician Practice Acquisitions. Presented by: Stuart A. Neiberg, MAcc, CPA, CFA

Physician Practice Valuation: Key Concepts to Ensure Compliant Physician Practice Acquisitions. Presented by: Stuart A. Neiberg, MAcc, CPA, CFA : Key Concepts to Ensure Compliant Physician Practice Acquisitions Presented by: Stuart A. Neiberg, MAcc, CPA, CFA Physician Practice Acquisition Overview Significant Consolidation / Acquisition Activity

More information

A Very Short Introduction. to RBRVS. Objectives. What is a Resource Based Relative Value Scale? 2009 Frank D. Cohen

A Very Short Introduction. to RBRVS. Objectives. What is a Resource Based Relative Value Scale? 2009 Frank D. Cohen A Very Short Introduction Presented by: to RBRVS Frank D. Cohen, MBB, MPA Director of Analytics and Business Intelligence Doctors Management 10/19/2014 1 Objectives This session will provide you with the

More information

Center for Advanced Health Care Strategic Plan. Tiber Group. Business Plan

Center for Advanced Health Care Strategic Plan. Tiber Group. Business Plan Center for Advanced Health Care Strategic Plan Tiber Group Business Plan Contents I. Process Overview II. Business Concept III. Financial Projections a. Surgery Center b. Diagnostic Imaging Center IV.Overview

More information

COPLEY HOSPITAL, INC. FY 2013 BUDGET NARRATIVE

COPLEY HOSPITAL, INC. FY 2013 BUDGET NARRATIVE FY 2013 BUDGET NARRATIVE Overview of Copley Hospital Financial Goals and Objectives Budget Assumptions Other Disclosures OVERVIEW OF COPLEY HOSPITAL Copley Hospital is the critical access-designated community

More information

Part 10. Small Business Finance and IPOs

Part 10. Small Business Finance and IPOs Part 10. Small Business Finance and IPOs In the last section, we looked at how large corporations raised money. In this section, we will examine some of the financing issues facing small and start-up businesses.

More information

INTRODUCTION MEDICAL SCHOOL LANDSCAPE 5/13/2016. Introductions

INTRODUCTION MEDICAL SCHOOL LANDSCAPE 5/13/2016. Introductions Association of Chiefs and Leaders of General Internal Medicine 2016 Leon Hess Management Training and Leadership Institute Medical School Revenues and Budgeting Principles A discussion outlining the revenue

More information

Catering to physicians: Specialized financial services firms find a niche

Catering to physicians: Specialized financial services firms find a niche Catering to physicians: Specialized financial services firms find a niche Some advisers are pitching their business exclusively to doctors and their unique needs. Other firms are getting wiser about the

More information

Quick Preview PROPERTY DAMAGE

Quick Preview PROPERTY DAMAGE Quick Preview PROPERTY DAMAGE You are you first priority, take care of you first Understand rental insurance, towing and storage costs Figure out what kind of insurance coverage you have Choose a reputable

More information

The Business of Launching Your Practice Residents Symposium The ASAPS Gift of Expert Advice Supported by Merz

The Business of Launching Your Practice Residents Symposium The ASAPS Gift of Expert Advice Supported by Merz Faculty Mark Codner, MD Chair Salvatore Pacella, MD, MBA Co Chair Bob Aicher, Esq. ASAPS Legal Counsel Helen Daniell Practice Manager Joseph Ellis Financial Planner Lawrence Keller Financial Planner Herluf

More information

Lessens asked the right questions, but would you? If you re like most physicians, the answer is probably no.

Lessens asked the right questions, but would you? If you re like most physicians, the answer is probably no. Operations: The Ins and Outs of Equipment Leasing How to Get the Best Deal on the Best Terms By Robert Anthony When 10-year-old Steven Lessens wanted a bike, his father didn t buy him one. Instead, he

More information

OFFICE OF INSPECTOR GENERAL PALM BEACH COUNTY

OFFICE OF INSPECTOR GENERAL PALM BEACH COUNTY PALM BEACH COUNTY CONTRACT OVERSIGHT NOTIFICATION (2013-N-0002) ISSUE DATE: DECEMBER 19, 2012 Sheryl G. Steckler Inspector General Enhancing Public Trust in Government Health Care District Trauma Surgical

More information

Understanding Developing Models of Care Integration Involving Hospitals & Physicians: Implications for Pathologists & Clinical Laboratories

Understanding Developing Models of Care Integration Involving Hospitals & Physicians: Implications for Pathologists & Clinical Laboratories Understanding Developing Models of Care Integration Involving Hospitals & Physicians: Implications for Pathologists & Clinical Laboratories Executive War College New Orleans, Louisiana May 3 5, 2011 Understanding

More information

Getting Started. Starting in Practice, Part 1. Learning Objectives. John Ramey, MD John Seyerle, MD Tao Le, MD, MHS

Getting Started. Starting in Practice, Part 1. Learning Objectives. John Ramey, MD John Seyerle, MD Tao Le, MD, MHS Starting in Practice, Part 1 John Ramey, MD John Seyerle, MD Tao Le, MD, MHS Learning Objectives List the key elements of an employment contract Evaluate the economics of a practice purchase versus a buyin

More information

Comprehensive Cost and Margin Improvement

Comprehensive Cost and Margin Improvement Comprehensive Cost and Margin Identify your organization s most challenging areas and find the biggest opportunities for savings and process improvement. From labor resource and compensation optimization

More information

Accident Injuries and Your Car Insurance

Accident Injuries and Your Car Insurance Personal Injury Wrongful Death Slip & Fall Automobile Accidents Trucking Accidents Motorcycle Accidents Medical Malpractice Criminal Defense Accident Injuries and Your Car Insurance Critical Details You

More information

Financial Accounting and Management Reports

Financial Accounting and Management Reports Financial Accounting and Management Reports To manage a medical practice effectively, whether it be a solo or a group practice, the practitioner and its managers and advisors must have continual access

More information

A Primer on Ratio Analysis and the CAH Financial Indicators Report

A Primer on Ratio Analysis and the CAH Financial Indicators Report A Primer on Ratio Analysis and the CAH Financial Indicators Report CAH Financial Indicators Report Team North Carolina Rural Health Research and Policy Analysis Center Cecil G. Sheps Center for Health

More information

MEDICAL PRACTICE MERGERS. Practical Strategies, Guidelines, and Implementation

MEDICAL PRACTICE MERGERS. Practical Strategies, Guidelines, and Implementation MEDICAL PRACTICE MERGERS Practical Strategies, Guidelines, and Implementation Driving Forces Behind Consolidation Reimbursement Ability to add Revenue Sources Increasing Overhead Declining Physician Incomes

More information

TRANSACTION ACCOUNTING ISSUES FOR NOT-FOR-PROFIT HOSPITALS

TRANSACTION ACCOUNTING ISSUES FOR NOT-FOR-PROFIT HOSPITALS THE IMPACT OF THE AFFORDABLE CARE ACT & A Publication of RubinBrown LLP TRANSACTION ACCOUNTING ISSUES FOR NOT-FOR-PROFIT HOSPITALS Table of Contents Section Page # Hospital Industry Overview.... 3 Impact

More information

GUIDELINES FOR CORPORATE COVENANTS AND PHYSICIAN EMPLOYMENT AGREEMENTS

GUIDELINES FOR CORPORATE COVENANTS AND PHYSICIAN EMPLOYMENT AGREEMENTS 1 GUIDELINES FOR CORPORATE COVENANTS AND PHYSICIAN EMPLOYMENT AGREEMENTS Steven Peltz, CHBC Peltz Practice Management & Consulting Service, LLC 39 Old Doansburg Road Brewster, NY 10509 voice 845-279-0226

More information

Where Do I Start? A Guide for Injured Workers

Where Do I Start? A Guide for Injured Workers Where Do I Start? A Guide for Injured Workers TABLE OF CONTENTS 1. About Colorado workers compensation 2. When to notify your employer that you ve been injured 3. What benefits you re entitled to 4. Benefits

More information

Complying with the New IRS Requirements

Complying with the New IRS Requirements Complying with the New IRS Requirements NRHA Critical Access Hospital Conference October 16, 2008 Maureen Mudron AHA Deputy General Counsel The New Landscape Beginning in tax year 2008, taxexempt organizations

More information

Speaker Bio. About Robin Bradbury Founder and President re solution

Speaker Bio. About Robin Bradbury Founder and President re solution Speaker Bio About Founder and President is the founder and President of (www.ereso.com), a revenue cycle optimization organization providing solutions for the business challenges faced by health care providers.

More information

Choice in Executive Compensation Incentives for Limited Liabilities Companies

Choice in Executive Compensation Incentives for Limited Liabilities Companies Choice in Executive Compensation Incentives for Limited Liabilities Companies Sabino (Rod) Rodriguez III Partner Day Pitney LLP New York NY srodriguez@daypitney.com 2012 Day Pitney LLP Categories of Business

More information

Professional Practice Goodwill/ Celebrity Goodwill

Professional Practice Goodwill/ Celebrity Goodwill 2012 Arizona Family Law Institute: For Better or For Worse Professional Practice Goodwill/ Celebrity Goodwill Charles A. Wilhoite, CPA/ABV/CFF, CMA, ASA, CFM Managing Director Willamette Management Associates

More information

Days in Accounts Receivable Days in Accounts Receivable Greater Than 120 Days Adjusted Collection Rate Denial Rate Average Reimbursement Rate

Days in Accounts Receivable Days in Accounts Receivable Greater Than 120 Days Adjusted Collection Rate Denial Rate Average Reimbursement Rate 1 Many providers are under the impression they can assess the financial health of their practice by evaluating cash flow only. However, cash flow is just one factor. You don't have to be a finance expert

More information

PAUL B. MURRAY, CPA, ABV, CFF 805 N. BROWN STREET MT. PLEASANT, MI 48858 (989) 772-1209 pbm@robertfmurray.com www.robertfmurray.

PAUL B. MURRAY, CPA, ABV, CFF 805 N. BROWN STREET MT. PLEASANT, MI 48858 (989) 772-1209 pbm@robertfmurray.com www.robertfmurray. PAUL B. MURRAY, CPA, ABV, CFF 805 N. BROWN STREET MT. PLEASANT, MI 48858 (989) 772-1209 pbm@robertfmurray.com www.robertfmurray.com Education Bachelors Degree in Business from Saginaw Valley State University

More information

VHA CENTRAL ATLANTIC COMPENSATION PLAN REDESIGN. Karin Chernoff Kaplan, AVA, Director, DGA Partners. January 5, 2012

VHA CENTRAL ATLANTIC COMPENSATION PLAN REDESIGN. Karin Chernoff Kaplan, AVA, Director, DGA Partners. January 5, 2012 VHA CENTRAL ATLANTIC COMPENSATION PLAN REDESIGN Karin Chernoff Kaplan, AVA, Director, DGA Partners January 5, 2012 AGENDA > Introduction and Trends in Physician Compensation > Compensation Plan Design

More information

ACTIVITY DISCLAIMER. Negotiating an Employment Contract that Ensures Success Under Value-based Payment

ACTIVITY DISCLAIMER. Negotiating an Employment Contract that Ensures Success Under Value-based Payment Negotiating an Employment Contract that Ensures Success Under Value-based Payment Travis Singleton ACTIVITY DISCLAIMER The material presented here is being made available by the American Academy of Family

More information

Understanding Reimbursements Janet Bozzone, DMD, MPH, FAGD Maggie Drozdowski Maule, DMD, MBA

Understanding Reimbursements Janet Bozzone, DMD, MPH, FAGD Maggie Drozdowski Maule, DMD, MBA Understanding Reimbursements Janet Bozzone, DMD, MPH, FAGD Maggie Drozdowski Maule, DMD, MBA Wednesday, October 26, 2011 National Harbor, MD Part of NNOHA s developing Practice Management Resources Current

More information

JASON M. O'DELL CURRICULUM VITAE

JASON M. O'DELL CURRICULUM VITAE JASON M. O'DELL CURRICULUM VITAE AUTHOR, LECTURER & CONSULTANT 8044 Montgomery Road, Suite 440 Cincinnati, OH 45236 Tel: 877-656-4362 Fax: 866-913-4911 Education College for Financial Planning M.S., Financial

More information

Achieving Competitive Advantage Through Supply Chain Excellence. Jim Webb, Senior Vice President of Operations, Provista

Achieving Competitive Advantage Through Supply Chain Excellence. Jim Webb, Senior Vice President of Operations, Provista Achieving Competitive Advantage Through Supply Chain Excellence Jim Webb, Senior Vice President of Operations, Provista Presentation objectives Competitive Forces Sources of Competitive Advantage Focus

More information

What keeps you up at night?

What keeps you up at night? What keeps you up at night? A seminar for business owners Michael J. Kearns, CLU ChFC Financial Advisor The Northwestern Mutual Life Insurance Company Milwaukee, Wisconsin Can I retire in 10 years? Can

More information

Technical Advisory. TA 242 September 30, 2004. Subject: Agency Financials The Importance of Staying in Trust

Technical Advisory. TA 242 September 30, 2004. Subject: Agency Financials The Importance of Staying in Trust INDEPENDENT INSURANCE AGENTS & BROKERS OF LOUISIANA 9818 BLUEBONNET BOULEVARD BATON ROUGE, LA 70810 PHONE: 225/819-8007 FAX: 225/819-8027 www.iiabl.com Technical Advisory TA 242 September 30, 2004 Subject:

More information

Medical Peer Review in Georgia Workers Compensation

Medical Peer Review in Georgia Workers Compensation Medical Peer Review in Georgia Workers Compensation June 20 th, 2013 CARLOCK, COPELAND & STAIR Fifth Annual General Liability & WC Seminar Presented by Mitchell S. Nudelman, MD, JD, FCLM Chief Medical

More information

How to Hire International Medical Graduates with Ease by Ann Massey Badmus, Attorney at Law

How to Hire International Medical Graduates with Ease by Ann Massey Badmus, Attorney at Law May 2011 How to Hire International Medical Graduates with Ease by Ann Massey Badmus, Attorney at Law According to an American College of Physicians monograph published in 2008, International Medical Graduates

More information