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Author Archives: charles

Doing Documentation Right: A Balancing Act for Physician Practices

Medical group practices often go full speed ahead once they decide to implement an EHR — until physicians start to lose their footing as they try to use the systems to accurately document patient care.  There are, however, a few precautions practice leaders can take to overcome this common stumbling-block.  By Alok Prasad, RevenueXL When medical group practices decide to ...

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Taking Aim at the High Cost of Provider Turnover

Keith A. Herl, MHA, MBA Matthew Mingenback In today’s ultra-competitive market, smart healthcare delivery organizations have sought to improve their margins by capitalizing on strategic advantages and maximizing efficiencies. However, most organizations have yet to adequately address one inefficiency that costs millions of dollars annually – provider turnover. In fact, less than one-quarter of healthcare organizations measure the cost of ...

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Three Financial Scenarios (and Solutions) for Saving for Things Other than Your Retirement

By David Lockey Thought about making a practice shift toward something less stressful, but also less lucrative? What about taking an early or partial retirement? Ever wanted a second home, yacht or other expensive toy? Are you saving the right way for your children’s education? You’ve received plenty of advice about saving and investing for retirement, but there are other ...

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Castor Oil to Elixir: The Evolving Role of Marketing

Odds are that when today’s physicians completed the long journey through med school, they didn’t expect they would also need the equivalent of an MBA to build a successful practice. The information age, increased competition and Obamacare has spurred major change and challenge in virtually every aspect of physicians’ lives. The simple and uncomplicated days of Marcus Welby MD have ...

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Food For Thought: Food Allergy Prevalence

The prevalence of food allergies has been increasing in recent years, and it is now estimated to be 6-8% in children and 3-5% in adults. Food allergies are the result of the body’s immune response to food proteins.  People with food allergies produce specific IgE antibodies, that when exposed to the allergic food, result in an allergic reaction of varying ...

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Medical Tourism: A Global Impact

Medical Tourism is defined as people crossing international borders for the purpose of receiving medical care. Traditionally people have moved to markets with greater expertise than available in their domestic markets, others by a desire to pay a lower price for care. Most sources reference prices in US dollars and site our country as having the highest relative prices. CDC.gov ...

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Personalized Medicine in the Era of Genomics

  By Michael A. Nasiak, Xiangning Chen, Ging Wu, Mira Han, Justin Zhan, Jingchun Chen, Jenica L. Abrudan & Martin R. Schiller Already, elements of genomics are being incorporated into standards of care, while continued consumer-driven marketing tactics have been successful in capturing the imagination of the public seeking its potential. Our patients have therefore become acutely aware that their ...

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The Next Evolution of Long-Term Care Protection

As a faculty member of Massachusetts Continuing Legal Education (MCLE), I was recently asked to speak to a large group of attorneys about the ‘evolution’ of long-term care insurance. Clearly, since the emergence of the ‘modern’ mutual fund in the wake of the Revenue Act of 1978, few financial products have undergone such drastic change in such a short period ...

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Being the Chief Revenue Officer (CRO)

Consider two focused questions: As you think about the status of your Practice, can your current Revenue Streams support your Practice to be as healthy as it really needs to be, in order to meet all of your goals? Based on current Revenues and Margins, would you be an Investor in your Practice? Good quality Revenues and Margins are the ...

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