Practice compliance and success are not diametrically opposed!
After serving as the president of the North Carolina Chiropractic Association, Kevin Sharp, DC, a presenter at NCLC2018, realized that many of the chiropractors in his state lacked a clear understanding of how to effectively code and manage the business side of their practices. Since then, he has devoted himself to teaching thousands of doctors and their staff how to effectively code, document and be compliant in their practices in a way that motivates them. "When you can break down the barriers of this aspect of what we do, doctors can free themselves up to focus on patient care," he writes. "In addition, I show doctors how a compliant practice can be profitable—which many think is diametrically opposed! You can run a compliant practice and make it profitable at the same time."
Every year, articles are written about tactics to employ and take advantage of before year-end to save on taxes. However, the year 2017 is unique in that tax reform is being proposed right now…and will possibly be passed before the end of the year. The proposed tax plan recently released has a host of changes that, of course, makes some happy and others irate. As characteristic of proposed legislation, the initial release is just that: a starting point for discussion and debate. The final law, if it were to pass, will undergo changes both overtly and covertly via horse-trading in backroom deals and compromise.
The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) officially ushered in the value-based model of reimbursement, beginning a change to the payment landscape of American health care. But what does this mean to providers? What does it mean overall for you as a chiropractic physician? First of all, we shouldn’t be afraid of the deck being “reshuffled.” Anytime there is a change in a system – especially a system that has delayed or avoided change – it becomes ripe for an innovative, landmark transformation.
ACA and Best Practices Academy team up to provide education on value-based reimbursement.
Having had the opportunity to speak across the nation regarding the new Medicare quality payment program, I soon realized how emotionally charged our colleagues are about the concept of “one more thing.” One more thing…added to the list of all the other things we have to deal with or at least should deal with; but that, frankly, our profession isn’t dealing with. What am I talking about? Regulations that affect the healthcare industry, and we are in the crosshairs because we are health care professionals, defined as “physicians” in many states (including Medicare) and our practices are affected by it. This cold, hard fact rings true for many practices that have experienced post-payment audits and recoupments, HIPAA violations with fines and public reporting.
*Member-Exclusive Content* Health care payment systems in the United States have come a long way from the traditional fee-for-service model that dominated in year’s past. Today, numerous new payment models have emerged that aim to increase cost efficiency and enhance value to patients. Following is a review of some of the most common and emerging systems today, including insights into pros and cons as well as answers to frequently asked questions.
To read more, sign into MyACA.
My name is Jay Greenstein, DC. My presentation is “Today’s Doctor of Chiropractic: Expert Clinician and CEO.”