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June 2009, Volume 1: Issue 1 |
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Dear Reader,
Welcome to the first
issue of The Medical Strategist. We are
at the crossroads of medical care. The
reformation to make health care
accessible and affordable to all is on
its way. Whether this takes the form of
socialized medicine or a different
approach remains to be seen. Either way,
it's time to prepare for the inevitable
changes, such as...
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Your Medical Records in the
21st Century
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According to
the American Recovery and
Reinvestment Act of 2009,
physicians and hospitals will
receive $19 billion from
Medicare and Medicaid to
implement certified electronic
health records.
Individual physicians are
eligible for $44,000 each over
five years.
Failure to implement Electronic
Health Records (EHR) into a
practice may be considered
deviating from recognized
standards in the near future.
Since it will become the
community standard of care,
failure to use it may open
oneself up to liability and
increase malpractice claims.
In addition, failure to
incorporate a system into the
practice by 2014 may result in a
reduction of Medicare
reimbursement and an increase in
malpractice premiums.
That being said, which of the
many systems available is the
best for you?
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7 Key EHR Elements to
Consider
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The perfect
EHR system has yet to be
devised.
What should YOU ask in
considering a system?
1) Will it interface with the
computer system of your
affiliated hospital?
2) Is it compatible with both
IBM PC and MAC systems?
3)Can you submit electronic
prescriptions with the system?
4) Is there a separate flow
sheet for medications,laboratory
test results and radiological
test findings?
5) Are there printed
notifications to you and your
patients when medications are
recalled or when new warnings
are issued?
6) Are there templates specific
to your specialty that will
document repetitive acts and
highlight abnormalities ? Can
you emphasize these abnormal
findings without entering data
for segments of the template
that were not performed on a
given day?
7) Is the system certified?
This is just the tip of the
iceberg. There are many more
changes coming and ways to
prepare for them.
Stay tuned for more information
on this in the next issue.
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Get Computer Equipment at
Massive Discounts (courtesy
of the IRS)
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Incentive to Buy Your Equipment
Now
Section 179 is a tax code
established to help small
businesses by giving them a
significant tax break.
The full purchase price of
equipment can be deducted up to
certain limits (depending on
your state), usually up to
$250,000. And now, the purchase
price limit has been raised to
$800,000.
Even better, there is an added
bonus depreciation when the
equipment is greater than the
deduction limit. This applies to
leasing as well as making a
purchase. Effectively, this
lowers the cost significantly
through 2009.
In order to take the Section 179
deduction, you fill out Part One
of IRS form 456. But there is
one caveat: although a small
business can deduct the complete
cost for the present tax year,
the equipment must actually be
used in the same tax year.
Owning the system is not
sufficient.
This would entail using
electronic prescriptions and
interfacing with the hospital or
records from other physicians
among other functions. So don't
forget to document equipment
usage.
It's imperative that you keep
complete records of the
equipment that you lease or buy
during the year. Your records
should include the date
purchased, where you bought the
equipment and when you started
using it.
References:
IRS Publication at:
www.irs.gov/publications/p946/ch02.html#d0e1927
White House Publication:
www.whitehouse.gov/news/releases/2008/02/200802
13-5.html
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Subscribers and Business
Friends
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For my
subscribers,colleagues and
friends: You can copy any
content in this newsletter for
your own use as long as the
following accompanies it and the
link is live:
Reprinted by permission of
Internet copywriter Barbara
Hales. For more information on
innovations and tips, subscribe
to the Medical Strategist at:
http://www.TheWriteTreatment.com
If you would like to contribute
your news about a product or
event as well as your thoughts
and comments, please email me
at:
Barbara@TheWriteTreatment.com.
Send me the lead of your website
article and your URL. It may be
published here so that your
colleagues can link to the
"whole story".
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The Medical Strategist was founded
in 2009 with the following established goals:
*Help guide you into a plan of action for your
business
*Keep you in the loop on changes within the
healthcare field and how it impacts your practice
*Deliver pertinent information and new regulations
directly affecting you, the practitioner
*Identify barriers and how to navigate around them
*Act as your liaison between you the provider, IT
companies, pharmaceutical companies and governmental
agencies
For Your Health and Wealth,
Barbara Hales
The Write Treatment
Phone: 516-647-3002
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