Medical Practice Management Handbook 1999

Tinsley, Reed

Health, Fitness & Dieting

Harcourt Brace Professional Pub

Written by one of the foremost experts in the field, this book—the first of its kind—provides expert guidance on how to perform an operational and strategic assessment of a medical practice. It includes proven suggestions and ideas on how to maximize the operational efficiency of a practice, enhance the medical office revenue stream, position the practice for future success, and maintain and increase income. Contains evaluation and assessment forms, as well as sample financial reports.

Performing an Operational and Strategic Assessment for a Medical Practice

Medical Books

Havens, Joe D.

Administration & Medicine Economics

John Wiley&Sons, Inc.

What is a medical practice worth? The answer depends, in part, on whom you ask. Purchasers would say value is based on what they plan to bring to the table; sellers assume it's simply a matter of formula applied uniformly across the board. In actuality, both are correct--to a degree. While there are basic guidelines used to ascertain values, valuation must be determined on a case-by-case basis, as each has a unique set of circumstances that ultimately affects final outcome. Covering the specific issues that impact valuation, Valuation of a Medical Practice takes you through the entire process, highlighting pitfalls and mistakes that are commonly made and that should be avoided. Written by Reed Tinsley, Rhonda Sides, and Gregory D. Anderson, leading experts in the field, this comprehensive resource clears up the ambiguous question of what exactly constitutes the value of a medical practice. As the authors stress, there are two main points to keep in mind: * The strength of the practice's income stream and what it produces for the owner(s) is what creates true value. * The key to a successful valuation is deciding whether or not the practice's future income stream will mirror its present income stream. Along with case examples, sample valuation letters, and checklists for gathering data, as well as an exhaustive appendix and glossary of terms, Valuation of a Medical Practice has complete details on: * Regulatory issues--Medicare fraud and abuse, private benefit/private inurement, the Stark Law. * Special issues--gross revenues, referral patterns, payer mix, practice efficiencies and transition, productivity. * Getting started--engagement preplanning and planning, requesting pertinent data. * On-site inspection and owner interview--fixed assets, personnel, accounting system, supply inventory, marketing, physician and management issues. * Completing the process--reporting, reviews, reconciling valuation methods, applying premiums and discounts, obtaining client representations. Straightforward, accessible, and exhaustive, this is an important resource for anyone involved in the valuation of a medical practice. When it comes to valuing a medical practice, the parties involved often disagree on how it should be best assessed. Written by leading authorities in the field, this comprehensive resource clears up any confusion by examining and explaining the key issues involved in the valuation process, as well as common pitfalls and mistakes that should be avoided. Packed with sample valuation engagement letters, checklists for gathering data, and helpful case studies, Valuation of a Medical Practice covers all the essential bases, from regulatory issues and operating costs to capitalization and fixed assets--in short, everything needed for an accurate valuation.

Valuation of a Medical Practice

Business & Money

Sides, Rhonda W.

Anderson, Gregory

Finance

wiley

Only recently, the physician setting up his own practice was considered an anachronism. And doctors loosely affiliated with an independent practice association (IPA) fared no better. Lacking capital, financial management, and the mechanisms for adequate medical and information system management, many IPAs around the country were coping with financial instability. From the outset, IPAs seemed doomed to obsolescence by the organizational efficiencies and superior resources of third-party payors. Yet, in the early 1990s, IPAs underwent a remarkable turnaround?building infrastructure, investing in MIS systems, and accepting risk?transforming themselves into genuine competitors in healthcare quality and efficiency with HMOs. In fact, IPAs have become an increasingly common healthcare delivery model, offering distinct advantages over other payors to physicians interested in the administrative gains and security of a group practice, while still retaining their autonomy. Healthcare Financial Operations Manual for Independent Practice Associations is the first comprehensive guide to setting up an IPA, detailing the many operational, legal, and logistical complexities of managing a physician-owned organization. Since controlling the financial and tax aspects of an IPA is critical to its survival, the Manual addresses an entire range of financial accounting concerns, including accounting concepts and methods for an IPA, internal control procedures, insurance issues, tax issues, policy guidance, and profit-making issues. Specific topics addressed include: 
<ul>
<li>How to manage and report primary, specialty, and inpatient care</li> <li>How to credential IPA providers</li> <li>How to negotiate contracts for single specialty and multispecialty IPAs</li> <li>Antitrust laws and IPAs?with a case study of a Florida IPA</li> <li>Why IPAs fail</li> </ul>
The book also clearly outlines how to acquire and negotiate a managed care contract and, with the help of its disk, provides a host of checklists, forms, and five sample contracts (not included in the book) that allow the user to chart his or her progress and get quickly up to speed on the essential paperwork. The Manual also provides hands-on advice on setting up an efficient computer system for an IPA, reflecting the acknowledged role of a first-rate information system in an IPA?s success. Offering candid, real-world guidance on setting up and successfully administering an IPA, Healthcare Financial Operations Manual for Independent Practice Associations is the complete reference to making an IPA work?for both doctor and patient. JAMES W. KARLING, CPA, is founder and President of Karling &amp; Associates, an eighteen-person CPA firm located in San Ramon, California, which specializes in providing consulting and accounting services to the healthcare and managed care industry. Prior to founding Karling &amp; Associates in 1994, Jim was a partner for eighteen years with Ernst &amp; Young and has also been National Director of Arthur Young &amp; Company?s healthcare practice. He has been a frequent speaker at healthcare programs and seminars and has published a number of articles on healthcare financial issues. REED TINSLEY, CPA, is director of Horne CPA Group?s Physician Services Division. His entire practice is centered in the healthcare industry and he works closely with physicians, medical systems, and other delivery systems with managed care contracting issues. A leading speaker on a variety of healthcare topics, his seminars have been sponsored by the American Medical Association. He is cochair of the CPA section of the IPA Association of America and the author of Performing an Operational and Strategic Assessment of a Medical Practice and Valuation of a Medical Practice, also from Wiley. JOE D. HAVENS, CPA, is shareholder in charge of the Horne CPA Group?s Hattiesburg, Mississippi, office and a member of its board of directors. He heads a team of healthcare consultants to physicians, medical groups, IPAs, hospitals, and managed care organizations as they develop strategies for healthcare reform. Havens also recently completed a five-part video series on healthcare subjects sponsored by Westcott Communications that is being promoted nationally to CPAs, consultants, and healthcare professionals. He coauthored the IPA Association of America?s Financial Accounting Manual for IPAs. The IPA finally comes of age?in the first comprehensive guide to successfully managing one In only a few short years, independent practice associations (IPAs) have been able to transform themselves?shedding their image as a healthcare delivery system ranking a distant second to HMOs. Revitalized with a new infrastructure, improved medical management and information systems, and forms of risk assumption, the IPA is suddenly marketable. Expanded geographic coverage, lower overhead, and a wide range of specialties are only part of the reason. Its other advantages?practical and administrative?are detailed in the first comprehensive guide to setting one up and making it work: Healthcare Financial Operations Manual for Independent Practice Associations. Focusing largely on survival issues, the Manual addresses a host of key financial accounting concerns, including accounting concepts and methods for an IPA, internal control procedures, insurance issues, tax issues, policy guidance, and profit-making issues, including such specifics as: <ul>
<li>Management tools and reporting for primary, specialty, and inpatient care</li> <li>Credentialing IPA providers</li> <li>Risk pool accounting and auditing</li> </ul>
Also clearly outlined are tips on how to acquire and negotiate a managed care contract (for both single specialty and multispecialty IPAs) as well as hands-on advice on setting up an efficient, first-rate claims payment system. And the book?s disk provides a complete package of checklists, forms, and five sample contracts (not included in the book) essential to managing an IPA. The book also includes a summary "Physician and IPA Toolkit" appendix, offers cautionary advice on why IPAs fail, and describes the current status of antitrust laws and IPAs. Healthcare Financial Operations Manual for Independent Practice Associations is a complete primer to setting up what is now one of the most efficient and cost-effective healthcare delivery systems available, one that meets the bottom-line needs of both doctor and patient.

Healthcare Financial Operations Manual for Independent Practice Associations

Karling, James W.

A guide written for CPAs or health care consultants on the financial management of a medical practice. Topics include developing a market niche, financial accounting and management reports, cost containment, internal controls, projecting cash flow, strategic planning, setting fees, basic office procedures, filing insurance claims, keeping books, personnel management, employment agreements, managed care contracts, office-sharing arrangements, integrated delivery systems, and medical practice valuations. Discussion related to the regulatory environment and other country-specific areas are devoted to the situation in the United States. The CD-ROM contains practice worksheets, checklists, sample agreements, marketing plans, and similar material. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Medical Practice Management Handbook: Complete Guide to Accounting, Tax Issues, Managed Care, and Daily Operations

Economics

Aspen Law & Business

...explains how to successfully negotiate both discounted fee-for-service and capitated managed care contracts and offers strategies designed to improve managed care contract- ing relationships...includes sample worksheets.

Managed Care Contracting: Successful Negotiation Strategies

Amer Medical Assn

The benefits of a successful practice merger are obvious. But done in correctly or unwisely, mergers often unravel, ending with a breakup of the group or with one or more doctors leaving. Just as important as having a merger go smoothly is knowing when not to merger. Practices may be too far apart in their values and ways of working to ever succe ssfully combine into a single group.

Physician Practice Mergers

AMERICAN MEDICAL ASSOCIATION

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