By Jeffrey C. Bauer, Ph.D.

The title of this article is intentional, as odd as it may seem.  Futures is plural on purpose, and the question about reform is not rhetorical.  The political events of the past year created a widespread and misleading impression that a (singular) new future for health care was being created in Washington.  In reality, health care in the United States is multidimensional, and it is heading in many different directions simultaneously.  Efforts to legislate a “one size fits all” solution are doomed to failure.  Consequently, physicians …

By Vasilios J. Kalogredis, Esquire
Oftentimes, physicians will admit that they have difficulty in negotiating for themselves.  For that reason, some prefer to have another individual do their negotiating for them.
Nevertheless, it is important for physicians to have some background on negotiating skills since, in reality, we all negotiate every day (be it with one’s employees, insurance companies, patients, family members, etc.).  This article will set forth some tried and true practical tips.
GATHERING INFORMATION
It is important to gather as much information as one is able to before getting involved in negotiations.  …

By William A. Brenner, CPA
With the economic rollercoaster settling down, now is a great time for the management teams at medical practices to step back and think about how they can keep their practices successful for years to come. Many of the practices that I, and my colleagues at Citrin Cooperman, have consulted with recently had to make difficult decisions to retain (or regain) their profitability in order to ride through the recession.
Even though there may still be tough choices to make as the months roll on, here are 10 …

By Michael Calahan
Federal auditors promise to assail providers through a variety of initiatives.  Paradoxically, the recent annulment of consultation CPT codes by Medicare forces physicians to improve evaluation and management (E/M) reporting strategies.  This drastic change leverages the more flexible and ubiquitous E/M codes for office and hospital inpatient visits by discounting the stringent consultation criteria.  It also increases the impact of E/M services on practice revenue.  Thus, to ensure accurate reimbursement and fewer improper payments E/M services will become a larger target for federal programs such as the Comprehensive …

By Daniel M. Bernick, Esq.
Many physicians in private group practices are alarmed by news of health care reform and other developments affecting their practice finances.  Some physicians have responded by abandoning private practice in favor of hospital employment.  Other physicians still want their autonomy, and are committed to private practice.  But they wonder: are the documents that they signed years ago are still reasonable in light of all that is happening in health care?  Will they remain reasonable if reimbursements go down, or expenses go up, or both?
There is no …

By David Fein
In today’s healthcare environment, “cost containment” is getting intense focus and attention.  This is happening not only at the national level, where news headlines for months have conveyed the difficulties politicians face struggling to find ways to increase healthcare coverage while also managing costs.  It’s also happening in local physician practices.   With all of the changes facing the medical practice today, managing costs and increasing productivity while providing quality care has become an even more pressing issue.   Physicians are faced with this dilemma: How can you provide quality …

By Andrew M. Star, MD
Hip arthroplasty has been a successful procedure for more than four decades. Yet, as doctors performing this surgery, we continually found ourselves repeating a list of “don’ts” to our patients as they faced the long recovery after hip replacement surgery: “Don’t get in a car,” “Don’t bend over,” “Don’t sleep on your side,” and other restrictions.
This discouraging, but important, post-operative advice was a by-product of standard  arthroplasty, in which the surgeon removes the hip joint using a lateral or posterior approach, cutting muscles, ligaments and tendons …

By Dena Mallin, CPC
Major changes are around the corner. CMS (Centers for Medicare and Medicaid Services) announced the elimination of consult codes. Officially released and documented in Change Request “CR 6740”as of January 1, 2010 consult codes will be eliminated from the Medicare fee schedule.  Medicare will no longer recognize or pay for services billed with consult codes 99241-99245 or 99251-99255.  However, as I am editing this article, Senator Arlen Specter (D-PA) has put forth an amendment to delay for one year CR6740.  There has been no action on his …

By William L. MacDonald
Tax-exempt organizations are subject to more stringent IRS rules than their for-profit counterparts in terms of how they can provide nonqualified deferred compensation plans for highly paid employees. Nonprofit organizations should analyze their deferred compensation arrangements to ensure that such arrangements comply with the restrictive tax requirements of Code Section 457.
Code Section 457(f) generally provides that in order to defer an employee’s compensation to a future calendar year, the payment of that compensation must be contingent on the employee performing substantial services through a date in a …

By Peter Rohr
Despite the economy’s ups and downs, it is essential that physicians who are business owners look beyond their near-future investment goals and consider their long-term retirement plan. Taking the time to establish a company-sponsored retirement plan may be one of the most important decisions physicians can make. Not only does finding the right plan help to attract and retain talented medical professionals, but a plan can also enable one to build personal wealth by reducing current tax obligations.
There is a simple approach practice owners can take when establishing …