By Kari Middleton Financial Advisor Medical Wealth Management It’s now the tax planning season, and physicians have unique tax situations. Here are some questions every physician should consider: 1) What form of business should I/We have? The form you choose has a direct bearing on the tax you pay. Each form has pros and cons. For example, a Personal Services Corporation has a flat 35% income tax rate… lower than the top personal tax rate of 39%. Then there’s the Limited Liability Corporation or LLC. Many physicianmore
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By Todd Greenberg, Member, GSG Capital LLC Healthcare providers may face disruptions in their claims payments even if they are all set to take on the new ICD-10 codes on Oct. 1, 2014. Although there has been a great deal of preparation for ICD-10 by software vendors, clearinghouses and payers we really won’t know the true effect until the transition begins. Providers will still have to pay rent, staff payroll, insurance and other obligations even if the transition does not flow asmore
By Todd Greenberg, Member, GSG Compliance LLC EHR and IT networking companies both play a critical role assisting medical practices and hospitals in achieving Meaningful Use. However, HIPAA Security of your patients’ health records is NOT their responsibility –it is the practice’s (the Covered Entity or CE). In creating Electronic Patient Health Information (ePHI), CE’s must take precautions to secure and protect each and every health record. Whether CE’s are attesting for Meaningful Use or not, they will need to confirmmore
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