Partner Insights with WB - Medical Practice Management Solutions

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Our complimentary educational seminar on business and regulatory issues this month focuses on Medical Practice Management Solutions.

Weltman Bernfield LLC, is a public accounting firm specializing in the needs of medium-sized businesses and their owners. The medical industry is an area of focus for our firm as we service many of those in the medical profession. One of our Partners at WB is a Certified Coding Specialist for Physician Practices and has attained his Accreditation in Business Valuation by the American Institute of Certified Public Accountants.

WB has developed a series of presentations to educate and share its knowledge and expertise with our clients and business associates. This month, on July 28, 2010, our presentation will focus on Medical Practice Management Solutions. Our presenters include a promenant healthcare attorney, practice management consultant, and WB's healthcare valuation expert. They will be discussing such topics as:

The Value your Practice Really Holds – Putting the Valuation of Medical Practices in Perspective. Presented by Larry Elisco, Weltman Bernfield LLC

A valuator’s estimate of your medical practice is important, but only a starting point. The valuation exercise is a combination of objective and subjective financial assessment and factors in the emotional aspect of the buyer and seller. Mr. Elisco will discuss both the quantitative and qualitative aspects of valuation to provide a better idea of what truly drives practice value. He will review the main components of value and also illustrate how they are applied in specific types of valuation proceedings, such as:

*Partner buy-ins
*Sale/purchase of practice to an outsider
*Buy-sell agreements
*Buy-in/out of Co-owner

Protecting Your Practice: A Legal Checklist. Presented by Ericka Adler, Kamensky Rubinstein Hochman & Delott, LLP

Ms. Adler will present areas which may require a review of current practice operations and policies to ensure compliance with applicable laws. These areas will include:

*Gift giving and receiving of discounts
*Promotional activities
*Lease arrangements
*Referrals within and outside of the practice
*Charging fees for non-covered services
*Billing and compliance activities
*HIPAA compliance

The 5 Actions Each Medical Group Should Take to Increase Insurance Reimbursement. Presented by Cathy Peterson, Peterson Healthcare Consulting

This presentation will provide practical advice and tools to increase a group’s income from insurers who, on average, underpay by over 10%.  Without the billing company and the MD office taking specific actions, the insurers simply get to keep that money. We will discuss specific actions, such as:

*Obtaining better contractual rates for commercial insurers
*Obtaining and clearly identify the contractual rates by doctor for each payer, and for each product Helping the billing and collection staff understand key contractual language issues and their significance for reimbursement
*Illustrating the critical importance of a complete and accurate Insurance Master for the practice’s collection efforts and how to design it to maximize its effectiveness
*Having your collection staff load the expected contractual payments for the top 7 payers in the market.

Join us:
Wednesday, July 28, 2010
Registration at 6:30pm
Presentation from 7:00pm - 9:00pm
Ravinia Green Country Club
1200 Saunders Road
Riverwoods, IL 60015

For more information on the event and our speakers or to register, please visit the Partner Insights page of our website at

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Christine Golz
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