May 23 2018

Medical Group Management – Medical Group Minute

Every business (yes, your medical group is a business) needs a streamlined way to make day to day management decisions. And, it cannot allow one or two or a few dissenters to hold the group back in the event of major action such as a sale or merger.

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Mark F. Weiss

May 22 2018

Augmented Unreality – Success In Motion Series

Ride along with Mark as he discusses the need to avoid the trap of viewing the reality of the business of medicine through a tightly focused lens, as if watching a live concert through the screen of your iPhone.

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Mark F. Weiss

May 21 2018

There’s An App For That HIPAA Violation

I recently read a post on someone’s blog in which the author addressed the question of using Amazon’s Alexa in an operating room. I used to think that there was no such thing as a stupid question, but now I have to reconsider.

On the other hand, are you already carrying a little spy into the operating room or the exam room or into listening range of other patient encounters or, for those of you in the billing business, into an office in which PHI is discussed?

No, I’m not referring to cell phones themselves as little listening devices, although I’m not 100% sure that it’s not an urban myth that your iPhone or android device always keeps its mic open.

Even if you put that notion into the category of foil hat wearing crazies, there is a related, and all too true, issue of apps on those devices maintaining open mics.

Take, for example, the 2017 report by the New York Times that more than 250 smartphone game apps utilize software from a company called Alphonso that listens to audio in TV ads and shows. The software is sophisticated enough to listen in even when the app is running in the background and the phone is in your pocket.

I’m not picking on Alphonso and the company states that it doesn’t record voice discussions, but it stretches the imagination to think that there is not a stream of data that has been backed up somewhere in order to mine it for television ad data that doesn’t also contain, and can’t be mined for, the rest of the audio information.

Smartphones (are supposed to) allow an app access to the mic only if the user permits it. But do you really know what access you’ve granted to each of your apps? Sure you do! But what about the apps of your colleagues, your partners, your employees?

Cyber criminals pay far more for health data than for credit card or banking information because it’s far more complete in terms of recreating a stolen identity. Don’t inadvertently help them out while exposing yourself to, potentially, tens of thousands of HIPAA violations.

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Mark F. Weiss

www.advisorylawgroup.com

May 17 2018

More Bites from The Flea That (Metaphorically) Killed The Medical Center CEO – Podcast

Just as no vote was required for a dictator like Casto to take over Cuba, no medical staff vote, no survey by Press Ganey, no long and drawn out process among “stakeholders,” is required to topple the status quo.

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Mark F. Weiss

Play

May 16 2018

$2.6 Billion Collected By Feds From Compliance Cheats. ROI Makes Warren Buffet Look Like An Amateur. – Medical Group Minute

Even Warren Buffet can’t get you this return: 420% over three years.
And, it’s 100% leveraged. OPM.
Well, not OPM as in “other people’s money,” but OPM as in “our public money.”

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Mark F. Weiss

May 15 2018

Who Will Fund Hospitals When There Are Few Inpatients Left? – Success In Motion Series

Take a seat while Mark discusses the payment crisis adding to hospitals’ woes. Patients, payors and physician owners are pulling and pushing cases out of hospitals to independent ASCs and other outpatient facilities. And now, payors are becoming increasing parsimonious with payments for hospital inpatient care.

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Mark F. Weiss

May 14 2018

Grooming A Medical Facility or Practice For Sale . . . Or Not

Selling a healthcare facility or a medical practice isn’t like selling a gold coin. Gold has a fixed market value and it trades on its weight in troy ounces.

Instead, it’s more akin to selling a house. As anyone who’s sold one knows, any house can be groomed for sale. It can be positioned in the market. The effort returns a higher sales price and can speed up the time to sale.

The underlying story is the same whether we’re discussing your ASC, your imaging center, or any other outpatient facility. And, it’s the same whether we’re discussing your hospital-based physician group, such as an anesthesia or radiology group, or an office-based practice, such as an oncology, dermatology, or orthopedic surgery practice.

Although a house might be spiffed up in a matter of months, it takes longer to do that to your business. Depending on the starting point, it could take at least a year, and often from two to three. The main goal, of course, is to increase earnings which in turn will drive a higher sales price and more money in your pocket.

On the flip side, this means that someone who just one day decides that “we are for sale” has missed the opportunity to take advantage of the time to take steps, not just operationally, but internally as to structure, to increase the business’s or practice’s value.

Of course, even if you take the steps to increase the value of your facility, business, or practice, it doesn’t mean that you have to sell. Done properly, taking those actions will also increase your operational efficiencies, your cash flow, and your bottom line profits for your own ownership.

Either way, it’s too late to have started a year ago, but it’s not too late to start today.

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Mark F. Weiss

www.advisorylawgroup.com

May 10 2018

Do You Know Your “One Weird Trick To Losing Belly Fat?” – Podcast

What are you doing to get attention for your practice or business? Attention from your referral sources, from your patients, from hospitals?

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Mark F. Weiss

Play

May 09 2018

Disruptive Physician or Nonconformist Medical Group Asset? – Medical Group Minute

Disruptive physicians. But what if the physician isn’t actually disruptive, but simply nonconformist or challenging?

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Mark F. Weiss

May 08 2018

Government’s Financial Return Fuels Compliance Investigations – Success In Motion Series

Ride along with Mark as he discusses the more than 420% financial return to the government that’s fueling healthcare compliance investigations . . . and convictions.

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Mark F. Weiss