What is Medicare, Medicaid, etc?
In addition to accepting private insurance from your patients, your practice may also want to accept government-sponsored medical insurance such as Medicare and Medicaid. The two programs cover very different populations, so it’s important to understand the differences between them. Medicare offers medical insurance coverage to individuals age 65 and older as well as individuals […]
Life Insurance
Life insurance is not just one more expense to add to the many expenses of running your own medical practice. It’s also not just a way to protect your family in the event of your passing. Instead, life insurance has recently become a financially sound way to protect your assets. In other words, life insurance […]
In-House Medical Transcription Vs Outsourcing
You know your medical practice needs medical transcriptions as part of its daily operations. Medical transcriptions allow physicians to verbally record notes and patient procedures and have those recording transcribed into electronic format. But should medical transcriptions be performed in-house or outsourced to a medical transcription company? There are pros and cons to each approach. […]
Insurance Types Needed for a Medical Practice
When you think of purchasing insurance for your medical practice, what comes to mind? For many physicians, malpractice insurance is considered the most important type of insurance to have. But as a business owner and a medical professional, there are actually 7 different types of insurance you need in order to protect your practice from […]
Types of Medical Insurance
Insurance plays a big part in the daily operations of any small business. Like the average business owner, your medical practice needs coverage for everything from employee benefits to rental insurance. But in addition to choosing coverage for normal small business liabilities, medical entrepreneurs have to decide which types of medical insurance to accept from […]
How To Win Your Insurance Contract Negotiation
Have you tried and failed to negotiate with insurance companies in the past? Negotiating the terms of your insurance contracts is one of the most challenging aspects of running a medical practice. In many cases, giant insurance conglomerates have the upper hand when it comes to negotiations – you need them more than they need […]
Disability Insurance
What if you were no longer able to practice medicine? Each year, hundreds of thousands of Americans lose their jobs and declare bankruptcy due to injury
Business/Casualty Insurance
Casualty insurance, also known as liability insurance, protects you and your medical practice from being responsible, or liable, for negligent acts. Worker’s compensation is a type of casualty insurance. Malpractice insurance can fall under this category as well. It’s important to note that casualty insurance is not connected to other forms of insurance like life, […]
How to Choose a Medical Legal Firm
There are four important things to consider when choosing a medical legal firm to represent your practice. First, consider your level of comfort in dealing with a particular lawyer or legal team. Make sure you meet in person to assess how comfortable you feel entrusting this particular individual or group with highly personal, sensitive information. […]