Are you looking to switch medical practices? Are you in the market to purchase a professional malpractice insurance policy? Are you planning to retire soon? If you answered ‘yes’ to any of these questions, you will likely confront the concept of “tail” insurance.
In February, the Centers for Medicare and Medicaid Services (CMS) began rolling out its national Recovery Audit Contractor (RAC) program, aimed at ferreting out improper payments and preventing fraud, waste and abuse in the Medicare system. If you bill for Medicare fee-for-service, you are fair game for a RAC audit. A three-year demonstration of the RAC program, which ended in March 2008, heavily targeted bronchoscopy, injectable drugs and IV hydration therapy. But auditors are rapidly expanding the list, and the permanent program will include adenoidectomies, tonsillectomies, thyroidectomies and other otolaryngology-related procedures.
For better or worse, medical practices are experiencing change. While many physicians are looking to expand their practice, other physicians are seeking a divorce from their current group.
On Feb. 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act of 2009 (commonly referred to as ARRA or the Stimulus Bill) which includes the Health Information Technology for Economic and Clinical Health (HITECH) Act. The HITECH Act includes significant changes to the Health Insurance Portability and Accountability Act of 1996 (HIPAA) that affect otolaryngologists and other health care providers, as well as those who process or work with health care information. Below is a summary of how these new provisions, many of which go into effect this Feb. 17, will affect your practice.
SAN DIEGO-Hearing aids can become a reliable source of ancillary income for otolaryngologists, according to four speakers in the miniseminar, Hearing Aids: The Dollars and Cents of Dispensing, presented at the annual meeting of the American Academy of Otolaryngology-Head and Neck Surgery (AAO-HNS).
Heading into the real world of practice after completing residency is a daunting task, fraught with perils. Will you get into a practice you like? Will there be sufficient support staff?
More often than not, today’s medical offices are businesses employing numerous staff people, as well as other physicians.
I was sued only once during my surgical career.
Although expenses related to medical malpractice are often seen as a cost of doing business, the experience of litigation is a personal, as well as a professional assault. A malpractice suit attacks a physician’s integrity and confidence.