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Opening a Second, Cash-Only Practice
I have a standard practice that contracts with commercial payers and Medicare. I’d like to open a cash-only practice in a second location but don’t want to violate any contracts. If I set up the new practice as new corporation with its own tax ID, is this a safe idea?
Question: I have a standard practice that contracts with commercial payers and Medicare. I’d like to open a cash-only practice in a second location but don’t want to violate any contracts. If I set up the new practice as new corporation with its own tax ID, is this a safe idea?
Answer: It would be nice to be able to do both at once, but the consensus among the experts we spoke with is that it can’t be done.
This is an area of healthcare management that is still being fleshed out, though, so it might be worth getting your own attorney to look into the specifics of your plan. What is possible is to keep your regular practice but charge for noncovered services as is done in the more standard concierge-style practices.
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.
