AAOS Now, October 2009
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Taking the pain out of injection coding
Injection coding is often confusing, and the complexity of coding and reimbursement for injections performed in the office setting is compounded by coding rules, payor rules, separate reporting of evaluation and management (E&M) services, and lack of clear documentation. Remember that common injections administered by orthopaedists from the musculoskeletal section of the American Medical Association’s 2009 Current Procedural Terminology (CPT®) are considered “surgical” injections.
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Orthopaedic groups find strength in numbers
Large practices have size on their side, but also face challenges Solo and small group orthopaedic practices have their benefits. They can provide more autonomy than larger groups, and politics and bureaucracy may be less of an issue. But many orthopaedists, such as Frank A. Pettrone, MD, feel that the advantages of large group practices far outweigh those available in smaller practices. One of 35 partners at Commonwealth Orthopaedics, an orthopaedic practice in northern Virginia, Dr.
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Sailing through the economic storm
How to keep your practice afloat during uncertain times Until recently, running your practice may have been smooth sailing. But then the recession struck like a gale-force wind. Now you, your partners, and your practice administrator are grappling with its repercussions on practice revenues, retirement plans, new equipment purchases, staffing levels, vacations, and more. In sailing, a plan directs your course.
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Don’t simply reduce overhead…manage it!
Labor costs are key in managing overhead You’ve no doubt heard that “If you increase your medical revenue by $1.00, you make $0.50 after overhead. If you reduce your expenses by $1.00, you get $1.00.” The logic is appealing, but misleading. The adage would be true if your practice only existed for a single moment. The $1.00 you save is saved once. The $0.50 you earn is earned over and over again. For this reason overhead should be managed, not necessarily reduced.
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Save on resources, references for your practice
Looking for ideas on how to reduce patient cycle times? Planning to update your practice’s job descriptions? A new resource from the AAOS could help. The AAOS Practice Management Committee (PMC) is charged with helping members manage the business aspects of their practices.
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The legal terminator
Life without Lawyers: Liberating Americans from too much law By Philip K. Howard W.W. Norton & Co., New York, N.Y When I picked up Life Without Lawyers: Liberating Americans from too much law by Philip K. Howard, my first thought was, “What about Neal and Walter?” Neal is our practice group’s corporate counsel, and Walter is my first cousin, a merger-acquisition attorney.
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Vision loss following surgery
Impact of ION can be far-reaching Ischemic optic neuropathy (ION) is a rare postoperative complication that can result in partial or complete loss of vision. ION results from an interruption of the blood supply to the optic nerve heads, which are supplied by the short posterior ciliary arteries, branches of the ophthalmic artery.
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Just for residents…
New topics highlight 2010 Practice Management Symposium Want to learn how to build a strong base of referrals in your community? Curious about how to negotiate a contract? Need help in deciding which practice offer is right for you? If you’re a resident asking any of these questions, the 10th Annual Practice Management Symposium for Orthopaedic Residents is made for you.