Business

All posts tagged Business

Competitive Bid Checklist for DME Providers

by admin on June 6, 2019 No comments

By: Michael Silverman

Come January 2021, if a DME provider has not been awarded a CMS contract to supply a competitively bid item to a Medicare beneficiary that resides in a competitive bid area it will be unable to do so.

Suppliers looking to participate in the latest rendition of CMS’ Competitive Bidding Program need to act now to try and secure a bid.

Otherwise, once implemented, only DME providers that have won a bid for that specific item in that geographical bid area can service Medicare beneficiaries residing therein.

Here’s a ‘to-do’ list for providers looking to participate with a competitive bid, and the latest timeline updates from CMS.

read more
adminCompetitive Bid Checklist for DME Providers

Don’t Let Your Medical Marijuana Lease Go Up In Smoke. …

by admin on January 25, 2019 No comments

medical marijuana leaseBy: Amanda Bhikhari

Imagine running a successful business: inventory is growing and flourishing, staff is happy, operations are smooth, and all of a sudden – a notification arrives that a bank foreclosed on the property the business rents from the landlord, with no advance notice.

In the blink of an eye, the location is gone, the risk of losing of inventory is imminent, and cash flow is impacted during the transition to find another cultivation space. This type of situation can, and has, happened. But what could have been done differently before establishing operations?

read more
adminDon’t Let Your Medical Marijuana Lease Go Up In Smoke. …

Healthcare Transactions Today: Selling a Medical Practice to Private Equity Buyers

by admin on November 12, 2018 No comments

private equityBy: Jeff Cohen

Private money (e.g. private equity) is in full swing purchasing medical practices with large profit margins (e.g. dermatology). This is NOT the same thing as when physician practice management companies (PPMCs) bought practices the 90s.  Back then, the stimulus for the seller was (a) uncertainty re practice profits in the future, and (b) the stock price.  Selling practices got some or all of the purchase price in stock, with the hopes the purchasing company stock would far exceed the multiplier applied to practice “earnings” (the “multiple”).  Buyers promised to stabilize and even enhance revenues with better management and better payer contracting.  If the optimism of the acquiring company and selling doctors was on target, everyone won because the large stock price made money for both the buyer and seller. The private equity “play” today is a little different.

Today’s sellers are approaching the private equity opportunity the same way they did with PPMCs, except for the stock focus since most private equity purchases don’t involve selling doctors obtaining stock.  Sellers hope their current practice earnings will equate to a large “purchase price.”  And they hope the buyer have better front and back office management that will result in more stable and even enhanced earnings.  And for this, the private equity buyer takes a “management fee,” which they typically promise (though not in writing) to offset with enhanced practice earnings.    

read more
adminHealthcare Transactions Today: Selling a Medical Practice to Private Equity Buyers

Direct Primary Care Agreements: How it Works and What to Consider

by admin on October 24, 2018 No comments

direct primary care agreementsAttorneys Susan St. John and Michael Silverman of the Florida Healthcare Law Firm will present this live lunch n’ learn webinar for providers interested in learning more about the direct patient care model. They will discuss the recent legislative updates that have brought this issue to the forefront in Florida.

Further reading per AAFP.org – The direct primary care (DPC) model gives providers a meaningful alternative to fee-for-service insurance billing, typically by charging patients a monthly, quarterly, or annual fee (i.e., a retainer) that covers all or most primary care services including clinical, laboratory, and consultative services, and care coordination and comprehensive care management. Because some services are not covered by a retainer, DPC practices often suggest that patients acquire a high-deductible wraparound policy to cover emergencies. Direct primary care and concierge care are not synonymous. In practices offering concierge care, the patient typically pays a high retainer fee in addition to insurance premiums and other plan obligations (e.g., copays, out-of-pocket expenditures), and the practice continues to bill the patient’s insurance carrier.

read more
adminDirect Primary Care Agreements: How it Works and What to Consider

Direct Primary Care Agreements: How it Works and What to Consider

by admin on September 6, 2018 No comments

direct primary care agreementsBy: Susan St. John

As the provision of health care services continues to evolve, many practitioners are contemplating creating membership-based services for their patients through Direct Primary Care Agreements (“DPCA”). Although DPCAs are not necessarily a new concept, the Florida Legislature enacted a bill during the 2018 legislative session making DPCA’s exempt from the Florida Insurance Code. Thus, DPCAs are not a form of insurance subject to regulations of insurance products but are private contracts between practitioner and patient for specified health care services. Here is how the DPCA concept works.

DPCAs are private contracts between patients and primary care providers. Section 624.27, Florida Statutes, defines primary care provider as a provider licensed pursuant to Chapters 458, 459, 460, and 464, or a primary care group practice, who provides primary care services to patients. Included under this broad definition of providers are: allopathic doctors, osteopathic doctors, physician assistants, anesthesiologist assistants, chiropractors, RNs, LPNs and ARNPs.

read more
adminDirect Primary Care Agreements: How it Works and What to Consider