On July 1, guest speakers Sherise D. Ritter, CPA, CGFM, CGMA, PSA, Managing Director, Mercadien, and Roy Brietenbach, Esq. Partner Director, Garfunkel Wild, P.C., shared their insights and expertise regarding PPP loan forgiveness, EIDL funding, and the legal and liability issues surrounding running a medical practice in the post-Covid era. The entire webinar is available to view here. 

,

Across America, thousands are marching against institutionalized racism and inequality. At the same time, a pandemic continues to rage. In many cases, the people marching shoulder-to-shoulder in our streets are those most at risk for death and disability from coronavirus. We cannot ignore the existence of healthcare disparities and the role they play in a society with deeply ingrained inequities.

It may seem counterintuitive, but medical practices have been among the businesses that have sustained the most significant economic losses due to the Coronavirus crisis. And it appears that the damage may continue for many more months, particularly for primary care providers.

Roy W. Breitenbach, Partner/Director, Garfunkel Wild, PC, and Sherise D. Ritter, CPA, CGFM, CGMA, PSA, Managing Director, The Mercadien Group, were our expert presenters at our April 30 webinar, "Post COVID-19: Resuming Your Practice After the Pause." Roy and Sherise shared vital insights about the legal and financial ramifications of reopening a medical practice after taking a hiatus due to the virus. Watch the replay here.

To contact our presenters directly:

Alternate Lenders

As the second round of SBA funding becomes available, some small business owners who were not funded during the first round may be considering submitting applications to alternate lenders.

Resources for PPP and EIDL Loans

The standard PPP application can be found here: https://home.treasury.gov/system/files/136/PPP-Borrower-Application-Form...

The Small Business Administration can be accessed here: https://www.sba.gov/sites/default/files/2020-04/PPP%20Deck%20copy.pdf

Ophthalmologist examining a patient's eyes

If your organization submits Medicaid claims of at least $500,000 in any consecutive 12-month period, the answer is likely “yes.” Organizations that bill Medicaid on behalf of themselves or another person or persons, are required by New York State Social Services Law to have a compliance program.

Your compliance program must meet specific criteria established by the State Board of Compliance (BOC). In broad strokes, the BOC stipulates that you must have systems in place to detect and correct errors prior to billing Medicaid.

Quality Measures

By the end of 2018, the Centers for Medicare and Medicaid Services (CMS) intends to tie 90% of payments to Medicare fee-for-service clinicians to their performance on quality measures. The Merit-Based Incentive Payment System (MIPS) consists of 271 such measures which were designed to provide an objective yardstick to identify and financially reward those physicians who provide the highest quality care to their patients.

To ensure that they are able to participate in these incentive programs, which can result in the highest-performing clinicians receiving up to 9% more than their lowest-performing peers, physicians are neck-deep in data collection and reporting. Oftentimes they must create policies and procedures to ensure consistent compliance with the standards. But how reliable are these measures in identifying true best practices, and how much do they correlate with desirable outcomes?

doctors are stressed by programs designed to lower costs

Remember the Institute for Healthcare Improvement’s Triple Aim? First proposed in 2007, this ambitious initiative was supposed to improve the patient experience, improve population health, and – here comes the best part – reduce costs.

Healthcare has changed dramatically since 2007. The Affordable Care Act sought to reduce costs and improve population health by shifting the financial levers that incentivized expensive interventions and instead incentivizing prevention and wellness.

But have either the Triple Aim or the goals of the ACA been realized?

Data reporting is key for success in VBP: challenges and cost

In the Value-Based Payment world (VBP), physicians are financially rewarded or penalized depending on the quality of care they provide or the outcomes their patients achieve. In order to determine which providers win and which lose in this scenario, data analysis is essential. This means that providers – many of whom only recently began implementing electronic health records – are now responsible for managing a tremendous volume of patient data. This responsibility comes at a high cost.

Small, Independent Practices are an Unintended Casualty of Healthcare Reform

In January 2009, Barack Obama was inaugurated as the 44th President of the United States. With healthcare reform as one of his major initiatives, the Affordable Care Act, also known as Obamacare, became law in 2010. Among the many levers embedded in this massive and ambitious legislation are incentive programs designed to completely shift the focus of the American healthcare system, from disease management to population health management.

Sign Up for a Free Consultation

Learn how HITS CG can help you navigate the ins and outs of current regulations, save you from costly penalty fees, and maximize incentives and payments.

 

Claim Now

Error | HITS Consulting Group LLC

Error

The website encountered an unexpected error. Please try again later.
200 OK

OK

The server encountered an internal error or misconfiguration and was unable to complete your request.

Please contact the server administrator, [no address given] and inform them of the time the error occurred, and anything you might have done that may have caused the error.

More information about this error may be available in the server error log.