Point of View
Taking Steps Now to Assess Your HITECH Readiness
Three alternative incentive programs for EHR were created
by the Health Information Technology for Economic and
Clinical Health Act, or "HITECH Act," including Medicare
incentives, Medicaid incentives and Medicare Advantage Organization
incentives. The Medicare incentive program provides for incentive
payments to eligible professionals. However, hospital-based
eligible professionals do not qualify for incentive payments.
Incentive payments are available to eligible professionals who
demonstrate the meaningful use of certified EHR technology.
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RAC: When You Need a Consultant
Many healthcare facilities have either not prepared for
the inevitable demand letters and record requests, or they have
prepared for the audits but still have some loose ends to tie up.
Some of these outstanding issues are related to the question, "When
do I need to use a consultant?" The single, biggest difference with
the RAC audits relative to other healthcare payment audits is that
everyone will be subject to scrutiny at some level.
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Uncertainty of Estate Taxation and Importance of Estate
Planning
In 2001, Congress enacted the Economic Growth and Tax
Relief Reconciliation Act (EGTRRA). The EGTRRA reflects
congressional cooperation on several issues including tax rate
reduction, estate tax repeal, marriage penalty relief, education
incentives, child tax credit increase, pension reform, and
alternative minimum tax relief. Congress designed the EGTRRA to
meet budgetary constraints by phasing the provisions in and out
over a ten-year period, with a projected sunset in 2011 that would
reinstate the tax law as it was prior to the enactment of the
EGTRRA.
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Physician Practice Risk Areas-- Are you minimizing your
risks?
There are many routine components to the daily operations in a
physician practice. Understanding the compliance pitfalls and
incorporating preventative measures into these daily routines can
pay off should your practice encounter an audit or investigation.
These pitfalls may include non-compliance in claims submission,
Stark laws, recruiting and hiring practices, and having vague or
out-of-date financial policies. This article addresses some of the
significant compliance risk areas for physician practices and
suggests steps you can take to help mitigate risk in these
areas.
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2010 Roth IRA Conversion Opportunity
Most of us have heard by now that the tax laws for converting a
traditional IRA to a Roth IRA have significantly changed. The Roth
IRA was introduced as part of the Taxpayer Relief Act of 1997 and
allowed for all gains in value (appreciation) to be withdrawn
tax-free. Since its inception, people with incomes under $100,000
have had the opportunity to convert part or all of their existing
traditional IRAs to Roth IRAs. Beginning in 2010 all IRA owners,
without regard to income, are eligible to convert their traditional
IRA to a Roth IRA.
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Change is on the Way
Now that the Obama administration has close to a full year
under their belts and Congress is close to reconciling the health
care bill, many tax law changes that will affect both individuals
and small businesses are just over the horizon.
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