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Is it Bad Debt?
Should insurance write-offs due to untimely filing be included in management reports as bad debt?
Question: Should insurance write-offs due to untimely filing be included in management reports as bad debt?
Answer: There's no rule per se, but write-offs due to time-of-filing are normally included as bad debt. For example, the Medical Group Management Association includes the following in its definition for bad debt:
- Losses on settlements for less than the billed amount.
- Accounts written off as not collectible (this includes timely filing denials).
- Accounts assigned to collection agencies.
- In the case of accrual accounting, the provision for bad debts.
Asset Protection and Financial Planning
December 6th 2021Asset protection attorney and regular Physicians Practice contributor Ike Devji and Anthony Williams, an investment advisor representative and the founder and president of Mosaic Financial Associates, discuss the impact of COVID-19 on high-earner assets and financial planning, impending tax changes, common asset protection and wealth preservation mistakes high earners make, and more.
Reducing burnout with medical scribes
November 29th 2021Physicians Practice® spoke with Fernando Mendoza, MD, FAAP, FACEP, the founder and CEO of Scrivas, LLC, about the rising rates of reported burnout among physicians and how medical scribes might be able to alleviate some pressures from physicians.
