The Journal of medical practice management : MPM
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December is a busy month for holiday fun, but don't neglect your financial health. Physicians should review their business and personal finances at year end to ensure they are on target both for income generated and taxes paid. Preparing for the April 15 tax filing is aided by a thorough review in December. ⋯ Make sure to look at your business profit/loss statement and balance sheet. Personal contributions and other tax planning strategies need to be completed by the end of the year. Your CPA can help!
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Losing a valued member of your staff can be disruptive, painful, and costly to your medical practice. And despite your best intentions and impeccable employee management policies and skills, things will happen beyond your control, and people move on. Being prepared for that possibility will help you minimize and contain the damage and move your practice forward. ⋯ This article further suggests several easy-to-implement practice management techniques that will help you soften the blow of employee turnover. It offers a sample farewell letter to announce an employee's departure from your practice and suggests six knowledge transfer questions to ask before the employee leaves. Finally, this article provides a comprehensive list of more than 30 thoughtful, eye-opening, and revealing questions that you can ask in an employee exit interview or exit survey.
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Your practice should want patients to understand and appreciate its uniqueness and beliefs. Simply stated, the culture of your practice is the excellent care you provide and how your practice is able to achieve that excellence. Defining and sharing your culture will encourage patients to choose your practice for their healthcare. Monitoring and continually updating your definition of "culture" will help your practice thrive and maintain high standards.
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Low morale can decrease productivity and cooperation among medical practice employees, and increase work errors, absenteeism, and turnover. That is why practice managers must be mindful of their employees' morale and develop a toolkit of strategies that they can use to assess and boost waning morale. This article suggests 25 practical and affordable strategies medical practice managers can use to increase their staffs' morale. ⋯ Furthermore, this article suggests 25 warning signs of low morale and suggests 10 causes of low morale in the workplace. It also provides practice managers with a quick 10-question quiz to administer to their employees to help them assess employee morale. Finally, this article describes five easy and affordable games practice managers can play with their employees to build camaraderie and teamwork and to increase staff morale.
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In patching the Sustainable Growth Rate (SGR) for the 17th time, Congress also postponed the ICD-10 cutover until October 1, 2015. For providers, especially Medicare physicians seeking long-term financial success in a time of reform, understanding the impact of SGR and the importance of coding with specificity is paramount. Learn more about how your data--including the data reported to payers on your claims--will determine your future.