Managing and maintaining a medical practice comes with risks — both financial and legal liabilities. Here are the top 4 reasons why utilizing refurbished medical equipment is a smart strategy to curb expenses while practicing safe medicine.
This month, we peeled back the layers of leveraging Section 179’s tax code — from understanding what it is, how to cash in on it, and when the qualifying timeframe is eligible to use the deduction.
To round out this educational series, we are highlighting how to go about financing and leasing equipment, as well as using the Section 179 calculator in order to estimate your potential savings.
At this time of year, many people are busy thinking about travel plans for Thanksgiving to see family, as well as bracing themselves for holiday gift shopping. But for business owners and those responsible for the bottom line at their place of employment, they are busy thinking about closing out the year by maximizing tax savings.
Section 179 is an IRS tax code, which — in its very nature of being a tax code — can sound intimidating. However, the truth is, the code is pretty straight forward. This tax code simply enables businesses to use deductions on the full cost of qualifying equipment, either purchased or financed, during that calendar year.
Our healthcare industry is both a substantial contributor to the global health crisis, as well as deeply troubled by it. It is uniquely situated to lead a revolution on both a community level as well as a planetary level, from land development, food, chemicals, and energy usage.
Sustainable health advocates believe that endeavors to safeguard and increase our health will not be successful if we don’t direct concerted efforts toward ecological, social, and economic adversities.
Surveys indicate that voters continue to be frustrated with inflated drugs prices, rising out-of-pocket expenses, and grim health insurance benefits.
Most projections indicate that Democrats will fall short of taking senate control next year, much less meet the 60-vote supermajority that is needed to pass Medicare for All (without a filibuster). Republicans haven’t been shy about sharing their intentions to unanimously vote against the bill.
The Democratic House has a progressive agenda regarding healthcare, but the laws presiding over healthcare are most likely going to stay as is.
More and more, medical procedures are being conducted in outpatient facilities vs. an inpatient setting. Mammogram screenings and cataract procedures may not come as a surprise, but many patients would rather have their total joint replacement surgery done in ambulatory centers than in a hospital. This is because of the convenience factor, a lesser burden on the wallet, and overall easier experience.
The gap between inpatient and outpatient net revenue continues to close in. In the 2019 Hospital Statistics report, the American Hospital Association shared that hospitals’ 2017 outpatient revenue was $472 billion. By comparison, the inpatient revenue was nearly $498 billion.
The age-old expression…the landscaper always has the worst-looking yard…means that we tend to pour ourselves into our professions, but don’t necessarily give ourselves the same TLC. The same can be true for physicians. In this month’s blog content, we discussed the burnout epidemic among medical workers, as well as ideas on how to combat the mental, emotional and physical demise of healthcare staff.
Fortune 500 companies invest in coaching to encourage behavioral proficiency of their current leaders and leaders-in-training. Personal development and leadership coaching have become mainstream in recent years.
Respected, world-renowned coaches such as Tony Robbins, John Maxwell, and Rachel Hollis are plastered all over social media, podcasts and stand on stages in front of tens of thousands of “students.” It’s time to invest in coaches for physicians who are deserving and very much need some attention in the self-care department.
Improving the patient experience, patient health outcomes, and process efficiency — also known as the Triple Aim — may have a name change coming in the future. That is if the focus is expanded from solely improving patients’ well-being, to also improving the well-being of those who care for these patients.
The Quadruple Aim would include medical and healthcare support staff, showing an interest in advancing their overall experience, too.
The Triple Aim is a top focus among caretakers, including doctors, nurses, and other segments of the healthcare workforce, but it is no secret that there is universal burnout among employees who pour themselves into taking care of others.
This dynamic leads to decreased patient satisfaction, which can lower the outcomes for their patients, and it potentially increases costs due to inadvertently making mistakes. Expanding from a Triple Aim to a Quadruple Aim would improve the mental and physical wellness of clinicians and support staff.
The dictionary defines Virtual Reality (VR) as a “computer-generated simulation of a three-dimensional image or environment that can be interacted with in a seemingly real or physical way by a person using special electronic equipment, such as a helmet with a screen inside or gloves fitted with sensors.”
As you can imagine, this advanced technology is a force to be reckoned with inside the healthcare space based on the possibilities to advance both patient healing and medical expertise.
