A Great Way to Reduce Practice Expenses

Howard Mevis

How much does your practice spend on drug, medical, surgical, and office supplies each year? The typical orthopaedic surgeon spends about $66,000 each year, according to the Medical Group Management Association 2013 Cost Survey for Orthopaedic Practices. Every dollar your practice saves on supplies drops right to the bottom line and results in a dollar increase in income.

Medical Necessity ≠ Medical Decision Making

Mary LeGrand, RN, MA, CCS-P, CPC

When coding evaluation and management (E&M) services, coders—including physicians—may experience some confusion related to the terms “medical necessity” and “medical decision making.” The two terms are not synonymous for the purpose of selecting E&M codes, and failure to understand the difference between them can lead to incorrect coding of E&M services, as well as cause problems in physician education and billing audit services.

How Much Do Your Employees Cost?

An employee benefits analysis can be beneficial Barbara Sack, MHSA, CMPE, and Debra L. Mitchell, RN, BSN, MBA Knowing and understanding the total cost of an employee to the practice is vitally important both to the practice executive and to the physician owners. Just as important is ensuring that employees understand the value of their full compensation package. Many employees simply assume that their cost to the practice equals their gross paycheck.

What Your Practice Says About You

William R. Pupkis, CMPE

Marketing can be defined as the business activities involved in moving goods from the producer to the consumer, which goes beyond selling, advertising, and promotion. When applied to medicine, marketing is a system of coordinated activities centered on the interchange between patients and a medical practice. If the practice is organized to ensure that the level of services delivered meet the expectations of patients’ needs and desires, the likelihood of success dramatically increases.

The Impact of the ACA on Orthopaedic Practices

Adam June

Since passage of the Affordable Care Act (ACA), many orthopaedic surgeons have expressed concern about its potential negative impact on their practices. One area that could affect orthopaedic practices is the mandate for large employers to provide health insurance coverage for their employees or risk being subject to significant tax penalties.

Predicting the Fate of Solo, Small Practices

Nicholas V. Colyvas, MD; Howard Sanders, BS

As solo and small orthopaedic practices face an increasing number of challenges, many physicians are being forced to reevaluate their careers. According to a recent survey, young physicians are more than 30 times likely to choose hospital employment over solo practice. Only 1 percent of medical residents in their final year say they want their own solo practices. This does not bode well for the future of solo and small orthopaedic practices.

On Trial: What to Expect When You Are Sued

John P. Lyden, MD

Nothing in my training had prepared me for being a defendant on trial for a malpractice action. I had to quickly learn about the legal process and how to handle myself in this very unique environment. I hope that sharing my experience will help others prepare and survive a medical liability lawsuit. It begins when you receive a summons.