October 2011

If Your Overhead Could Be Reduced, What Would You Pay?

Health care entities are constantly under pressure to manage their costs, which are generally a combination of fixed and variable costs. In an environment where reimbursements from payers continue to decline, the pressures only increase on management to contain and manage overhead costs. For many practices, the battle is difficult as the assumption is made that not much can be done to change the fixed costs, and to a certain extent variable costs, without compromising quality and patient satisfaction. Read more...

Measure Your Practice's Performance

Is your practice moving forward, standing still, or losing ground? You'll know the answer if you compare different aspects of your practice's operations to appropriate benchmarks. It's been said that you can only manage what you can measure. Benchmarking can give you the data you need to make informed management decisions about the direction of your practice. Read more...

Victory for ASC Industry on Same-Day Surgery Regulation

The Ambulatory Surgery Center Association (ASCA) recently reported that the Centers for Medicare & Medicaid Services (CMS) acknowledged the importance of enabling ASCs to treat patients on the same day that their surgery is scheduled. A final rule released last week, which becomes effective December 23, will allow ASCs to notify patients of their rights on the day of surgery without limitation. Read more...

Employer-Provided Vehicles and Personal Use Calculations

As CPAs assisting with client IRS audits, we see the items frequently looked at and challenged. One such item is the personal use of employer-provided vehicles to owners and employees. Generally, the value of an employer-provided auto is a fringe benefit that must be included as compensation to the employee. Read more...

Somerset Health Care Team News

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