Electronic Medical Claims Filing: August 2012

Friday, August 31, 2012

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Looking back on the 'Xtreme Dream'

Dr. Sanjay Gupta takes a look back at Diana Nyad's historic attempts to swim from Cuba to Florida.

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'Personhood' bills and IVF

Critics say bills like the Sanctity of Human Life Act may wind up criminalizing in vitro fertilization.

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Tri training: Taking to the open water

My first race of 2006 was the National Sprint Championships in Redditch, England.

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Thursday, August 30, 2012

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Tips For Running A Productive Medical Private Practice That Thrives

Running a thriving private medical practice can have its every day challenges. There are quite a few aspects of running a practice that contribute to keeping your staff and yourself productive. One of the first issues is your staff. Having a good staff can mean everything to an efficient practice. It's important to hire friendly, reliable and resourceful people to help run your office. Understanding your staffs strengths and weaknesses is important in order to optimize the work flow.
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Medical Billing - Protected Health Information (PHI) - A Refresher

All of the nuances behind Protected Health Information (PHI) need to be understood by doctors. This is a brief reminder of what PHI is.
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Medical Manager Billing Software for a Small Private Medical Practice

Medical Manager Billing Software is an effective and efficient IT solution for a private practitioner to manage a start-up or a smaller medical office more successfully. With the right software, you can look after your patients' care better and spend less time with administrative management. It would lead to a more satisfying patient-doctor relationship as well as a better service from the medical and administrative staff. The beauty about this system for small practice physicians is that many are offered with no upfront cost and as a free download for a trial period.
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Handling Revenue Cycles: Pre-Emptive Responses for Denials

The key to managing your revenue cycle well is to understand the challenges that you face and the ways that you can create good solutions to those challenges. Bringing a more attentive eye to in-house account handling often helps doctors come up with ways to make their daily practices more efficient.
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Billing and Collections During Hard Economic Times Part I

Insurance companies are more and more shrinking reimbursement to physicians. Unfortunately this is out of the physicians control but there's hope. Physicians and medical insurance billers need to be more aggressive and in turn they will be more successful in collecting payment from insurance companies and patients that is owed to them. There are two aspects of revenue being decreased. First, claims are being denied by insurers and some claims are not resubmitted after a denial, or if they are resubmitted, they are past the allowable date. Generally, about 7% to 15% of claims are denied by insurers.
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A Brief Guide on Documentation and Coding

A provider has the responsibility for making sure that the correct level of service was provided and the proper code was used for billing. This duty cannot be passed on to someone else. The physician provided the service, they have to decide what to bill. They know better than anyone what services were provided.
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Ask iLounge: Calendar & Contact entries still appearing from previous iPhone

Q: I gave my sister my iPhone 3GS after i purchased an iPhone 4S. Recently I noticed that her calendar entries appear on my iPhone as well as her contacts. How can this happen? She must have her own iTunes account as I have never told her my details. - Marita A: The most likely cause of this is that you did not fully wipe and reset your iPhone 3GS before giving it to your sister, and therefore some of the previous calendar and contact synchronization…

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Want to Buy Rental Property? Consider The Expenses

By Leonard Baron

If you are considering buying rental properties, you should already know how to analyze an investment by penciling out your real estate deal. Within that analysis, one of the critical tasks is accurately estimating how much your operating expenses -- property taxes, HOA fees, lawn care, property management fees, insurance, maintenance expenses and all costs other than the mortgage -- will be on the property.

Properly estimating your operating expenses will give you confidence that your analysis is on the mark. So to help you better estimate those amounts, let's talk about some percentages in a broad range and then specific items and costs.

Operating Expenses Percentage

When people pro-forma, or estimate the projected financials of a real estate deal, the operating expenses are typically 35 to 80 percent of the gross operating income, depending on the type of rental property.

So let's say your GOI is $1,200 per month in rent, and your expenses are $450 per month. Your operating expense percentage would be 450/1,200 or 37.5 percent. For a bread-and-butter house, duplex or triplex building, 37.5 to 45 percent is probably a good estimate. Generally, the fancier the building, the higher the ratio of operating expenses to GOI. Some types of properties -- such as vacation rentals -- could have a 70 to 80 percent expense ratio.

Beware: If your calculation is below 35 percent, there is a high probability that something is wrong in your estimation. Make sure to independently verify your projected costs with a few other experienced property owners.

While using an expense ratio is a fair general guide to penciling out your deal, you really need to get into the nitty gritty numbers to be as accurate as possible. Here are the typical expense categories for a normal rental property and how to calculate the costs.

Maintenance and Miscellaneous

This is typically the hardest category to estimate, and often people underestimate the amount. A general rule is 1 percent of the property value per year. So a property valued at $180,000 would have $1,800 per year, or $150 per month, in these costs. Many things can impact this, such as the condition, age, size and type of property. Also, in a single family home, the owner pays for the roof, painting and other costs that typically are covered by HOA fees in a common interest development, so take that into account. Either way, don't forget about those big capital repairs and replacements. It's highly likely that maintenance and repairs will be more than you anticipate.

Insurance

You can contact your insurance agent, run over the property specifics and get an exact estimate of the cost for the coverage you need. Don't forget to consider earthquake, flood, umbrella liability, HO-6 interior condominium unit policies or any other special insurance you may want or need.

Property taxes

You should contact the county assessor to get the exact amount for the current property taxes. Make sure - especially you Californians under Proposition 13 - that you know how much you will be paying in property taxes after you close escrow. It could be significantly different from what the seller is currently paying.

HOA fees

You should be able to look at the for-sale listing and/or call the property manager to confirm the current HOA fees. Make sure to investigate beyond the current fees to determine whether the fees are scheduled to rise quickly, if they have risen often and if any special assessments are coming.

Management

If you plan to have an outside manager, call around the see what the cost is for that service. Typically it's 6 to 8 percent of the rent, and that may or may not include re-leasing costs, which could be half to a full month's rent in addition to the monthly fee percentage.

Other costs

Gardening, pest control and utilities paid by the landlord also need to be considered. It's smart to make the tenants cover water (even if pro-rated between units), electricity and gas. I've learned when a tenant pays the bills it costs X per month, but when the landlord pays those same bills, they're 3X or 4X per month. People generally only conserve when they have the pain of paying the bills.

That's some general guidance on how you can estimate the costs of operating an income property. Talk to other real estate investor-owners, real estate agents and property managers, too. And remember, don't underestimate your expenses. It likely will cost more than you think!

See more on Zillow:
Tips for Designing a Green Home Office
How Much House Can You Get for $500,000?
5 Ways to Beat Out the Competition

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Frank Lloyd Wright Group Fights to Save His Home in Arcadia, Ariz., From Demolition

Filed under: Design, News, Celebrity Homes

Frank Lloyd Wright Arcadia Arizona David design house

Conservationists are rushing to win landmark status for a home in Arizona built by iconic architect Frank Lloyd Wright to block its pending demolition.

In June, developer 8081 Meridian paid $1.8 million for the David and Gladys Wright House -- which Frank Lloyd Wright designed for one of his sons. Its plan is to tear down the house in the Arcadia neighborhood of Phoenix to make way for two McMansions.

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The developer had agreed to hold off on the house's demolition for 60 days while it explored a deal with the Frank Lloyd Wright Building Conservancy. But time ran out, and now the conservancy has launched a petition to save the house from destruction by designating it a historic landmark.

Demolition permits can't be granted for properties considered for landmark status.

"This house is a piece of history, it represents a piece of Arizona that Frank Lloyd Wright loved so much," Anne Wright Levi, his great-granddaughter, told AZFamily.com.

Built in the 1950s, the Phoenix-area home is considered to be one of Wright's most innovative and significant buildings. The house, with a spiral ramp, was built as he was developing his plans for the Guggenheim Museum in New York, which has a similar look.

The conservancy has proposed other ways to save the home: Buy the house back from the developer for $2.7 million, or parcel the land and just buy back the house for under $1 million. The latter option would still allow the developer to build large structures on the land that could tower over the home.

If you want to sign the conservancy's petition, you can do so by clicking here.

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Find homes for rent in your area.

Follow us on Twitter at @AOLRealEstate, or connect with AOL Real Estate on Facebook and Pinterest.

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Staying safe around snakes

Reporter Melisa Raney explains how to avoid snake bites and what to do if one strikes.

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