http://www.elliottdavis.com/articles/ en sabadi@elliottdavis.com Copyright 2012 2012-01-24T14:00:14+00:00 http://www.elliottdavis.com/articles/elliott-davis-onsite-newsletter-winter-2012-issue/ http://www.elliottdavis.com/articles/elliott-davis-onsite-newsletter-winter-2012-issue/#When:14:00:14Z We are pleased to present the Winter issue of OnSite Newsletter. The articles include several topics that we believe will be of interest to you including the following: IRS offers truce in worker classification battle Business valuations are for contractors, too Protecting your construction company’s mobile technology Should we throw our hardhat into the disaster recovery ring? We welcome your questions and comments about the topics discussed or related ones. Please contact us and let us know how we can be of assistance. Industry, Construction, Service, Accounting Resources, Assurance, Consulting, Tax 2012-01-24T14:00:14+00:00 http://www.elliottdavis.com/articles/winter-2012-community-banking-advisor-newsletter/ http://www.elliottdavis.com/articles/winter-2012-community-banking-advisor-newsletter/#When:18:30:42Z We are pleased to present the Winter issue of Community Banking Advisor. The articles include several topics that we believe will be of interest to you including the following: Clocking customers’ growth IT security: Is your program still effective? Take a balanced approach to incentive compensation BANK Wire We welcome your questions and comments about the topics discussed or related ones. Please contact us and let us know how we can be of assistance. Industry, Financial Services, Service, Accounting Resources, Assurance, Consulting, Tax 2012-01-17T18:30:42+00:00 http://www.elliottdavis.com/articles/prescriptives-from-the-consulting-cabinet-january-2012-issue/ http://www.elliottdavis.com/articles/prescriptives-from-the-consulting-cabinet-january-2012-issue/#When:18:44:22Z Welcome to the first Prescriptives from the Consulting Cabinet. Prescriptives is my way of communicating to you timely and relevant information regarding healthcare issues and trends in order to help you address challenges and capitalize on opportunities. This is not a one way street but rather a dialogue to help us all learn and become better at what we do, so please ask questions and make comments. Also, please engage with me on Twitter at irabedenbaugh or on LinkedIn. Through these channels, I routinely share additional thoughts on healthcare and leadership. Enjoy this first issue which focuses on Meaningful Use. -Ira Six Helpful Hints for Meaningful Use While providers of electronic health records make the meaningful use requirements seem simple to meet, I am sure that you have quickly realized that it can be a challenge. During the past several months, I have helped prepare several clients to start their attestation period on January 1. From these experiences, I have a handful of helpful hints to pass along to you. Train your team. A physician cannot meet the requirements of meaningful use by him or herself; rather the entire office needs to be part of the process. Do not skimp on training time for both the clinical and non-clinical staff, as the time spent training will facilitate their buy-in, their help and their ideas. Simplify. Too often practices make meaningful use more complicated than it really is. Do not over think; instead understand what is being asked and meet that requirement. Do not do more than is required unless your efforts bring tangible value to the practice. You can ramp up the use of your electronic health record as you become more proficient. Capture smoking and ethnicity data. These two components can cause hiccups for different reasons in the meaningful use process. Smoking status causes problems because not all subspecialties are used to recording this information, and even those that are documenting smoking status are not in the habit of asking their 13-year year old patients. In addition, not capturing a patient’s ethnicity will result in a zero on demographics. This is a new requirement for most practices, as there has never been a need to capture this data, therefore, physicians and staff must devise a process and a tool to do so. Change operational flow. To maximize the use of your electronic health record, the paper way will not work in the electronic office. You must change your operational flow and levels of responsibility to maximize the system. If not, the provider will become a high priced data entry clerk. Review your reports. As you are preparing to start your attestation period, you must go through a trial run, reviewing your meaningful use reports on a weekly basis. If you are not exceeding the required thresholds, you must modify your processes until you are easily meeting the threshold requirements. If you are starting your yearly attestation period, it is imperative that your meaningful use reports are reviewed monthly, if not weekly. If you get “behind the curve” on some of the thresholds, it can be difficult to catch up. Assess costs. Before you invest in an electronic health record, understand that the cost is more than just the software. In addition to the software costs, you can have hard costs associated with hardware and maintenance and soft costs associated with patient volume and impact on everyone’s personal time. Do your due diligence and make the correct decision for your practice. Ira Bedenbaugh As chair of Elliott Davis’ Medical Consulting Practice, Ira assists physician practices and hospitals with their strategic initiatives, daily financial management and operational needs. A frequent speaker with more than 13 years of experience in the medical consulting field and 10 years in practice administration, he understands the inner workings, external pressures, challenges and opportunities that practices face. Phone: 864.552.4715 | Email: ibedenbaugh@elliottdavis.com Industry, Healthcare, Service, Accounting Resources, Assurance, Consulting, Tax 2011-12-27T18:44:22+00:00 http://www.elliottdavis.com/articles/elliott-davis-real-estate-advisor-newsletter-january-february-2012/ http://www.elliottdavis.com/articles/elliott-davis-real-estate-advisor-newsletter-january-february-2012/#When:21:21:04Z We are pleased to present the July/August issue of Real Estate Advisor. The articles include several topics that we believe will be of interest to you including the following: Options for minimizing exit costs from a CMBS loan How to leverage loss deductions when transferring FLP or LLC interests Know the tax consequences of an installment sale Ask the Advisor: My commerical tenant just filed for bankruptcy – now what? We welcome your questions and comments about the topics discussed or related ones. Please contact us and let us know how we can be of assistance. Industry, Real Estate, Service, Accounting Resources, Assurance, Consulting, Tax 2011-12-15T21:21:04+00:00 http://www.elliottdavis.com/articles/elliott-davis-dental-services-practice-financial-check-up-newsletter-decemb/ http://www.elliottdavis.com/articles/elliott-davis-dental-services-practice-financial-check-up-newsletter-decemb/#When:19:17:53Z In this issue, Rebecca Horn has some excellent suggestions for you as the year-end approaches. As Rebecca suggests, you should begin 2012 with a plan in place. Many doctors are always too busy managing urgent interruptions and miss out on important planning. Don’t let that be you. We hope you will find this helpful. If you have questions, please contact us. Industry, Healthcare 2011-11-29T19:17:53+00:00 http://www.elliottdavis.com/articles/elliott-davis-2011-12-tax-planning-guide-now-available/ http://www.elliottdavis.com/articles/elliott-davis-2011-12-tax-planning-guide-now-available/#When:13:54:48Z Click here to view Elliott Davis’ 2011-12 Tax Planning Guide. Topics include Tax Planning Basics, Investing, Real Estate, Business & Executive Compensation, Family & Education, Charitable Giving, Retirement, and Estate Planning. Please contact your Elliott Davis tax advisor with questions or to request additional information. Industry, Construction, Financial Services, Government, Healthcare, Manufacturing & Distribution, Not-for-Profit, Professional Services, Real Estate, Service, Accounting Resources, Tax 2011-11-21T13:54:48+00:00 http://www.elliottdavis.com/articles/repayment-of-debt-may-result-in-taxable-income/ http://www.elliottdavis.com/articles/repayment-of-debt-may-result-in-taxable-income/#When:19:44:41Z In most circumstances, repayment of debt is not a taxable transaction. However this is not the case in all circumstances. Business owners operating in the real estate industry are some of the more likely individuals to find themselves in a situation where repayment of debt can result in taxable income. Click below to read the full article. Industry, Construction, Real Estate, Service, Tax 2011-11-17T19:44:41+00:00 http://www.elliottdavis.com/articles/elliott-davis-onsite-newsletter-fall-2011-issue/ http://www.elliottdavis.com/articles/elliott-davis-onsite-newsletter-fall-2011-issue/#When:15:40:39Z We are pleased to present the Fall issue of OnSite Newsletter. The articles include several topics that we believe will be of interest to you including the following: Directing your attention to indirect costs Three reasons contractors should consider cloud computing Don’t let workers’ compensation get the upper hand What’s wrong with my projection forecasts? We welcome your questions and comments about the topics discussed or related ones. Please contact us and let us know how we can be of assistance. Industry, Construction, Service, Accounting Resources, Assurance, Consulting, Tax 2011-11-01T15:40:39+00:00 http://www.elliottdavis.com/articles/elliott-davis-community-banking-advisor-fall-2011/ http://www.elliottdavis.com/articles/elliott-davis-community-banking-advisor-fall-2011/#When:13:49:47Z We are pleased to present the Fall issue of Community Banking Advisor. The articles include several topics that we believe will be of interest to you including the following: Handling mergers with care Mobil banking: How do we get there? Lending to start-up businesses BANK Wire We welcome your questions and comments about the topics discussed or related ones. Please contact us and let us know how we can be of assistance. Industry, Financial Services, Service, Accounting Resources, Assurance, Consulting, Tax 2011-10-13T13:49:47+00:00 http://www.elliottdavis.com/articles/elliott-davis-dental-services-practice-financial-check-up-newsletter-octobe/ http://www.elliottdavis.com/articles/elliott-davis-dental-services-practice-financial-check-up-newsletter-octobe/#When:18:06:46Z In this issue, we explore the world of social media. You may be amazed by the impact this low cost and rewarding means of exposure could have on the success of your business in your community and beyond. We hope you will find this helpful. If you have questions, please contact us. Industry, Healthcare 2011-10-12T18:06:46+00:00