Valeo Online

By Matthew Arnold, Medical Marketing & Media

Underscoring the importance of social media in public health, patients say friends and family are as responsible for their health as are medical professionals, according to Edelman’s 2011 Health Barometer study.

Nearly half of respondents (43%) to the global survey said that their friends and family have the biggest impact on their lifestyle with regards to health after themselves, and more than a third (36%) cited friends and family as top influencers when it comes to nutrition.

Edelman surveyed 15,000 people in 12 countries and found that friends and family uniformly rank high among influencers on a range of health-related topics.

By Pamela Lewis Dolan, admednews.com

The number of physicians using sites such as Facebook and Twitter has grown so quickly that Gabriel Bosslet, MD, realized the moment his study on physician social media use appeared in June that it already was out of date.

The data, collected by Dr. Bosslet between February and May 2010 and posted more than a year later on the Journal of General Internal Medicine site, found that 41.6% of doctors use social media sites.

By Deborah Grider: CPC, CPC-H, CPC-I, CPC-P, CPMA, CEMC, COBGC, CPCD, CCS-P, Blue & Co.

Many physician practices small to large have not yet begun the implementation process in order to ensure a smooth ICD-10 transition.  Practices that wait until the last minute or fail to begin implementation planning may see reimbursement affected in 2011.  It is amazing how many practices I speak with don’t even know if their vendors are ready for the 5010 electronic transaction conversion deadline of January 1, 2012.  In order to submit claims after January 1, 2012 every electronic transaction (claim) must be submitted in a different format.  Yes, it is an IT or vendor issue, but do you even know if your vendor is ready?  I recommend you contact your vendor and ask if they are ready for the transition, and if they have tested 5010 end-to-end.

By Guy M. Lerner, MD: ARL Advisers

The news is frightful.  The economy is in the doldrums.  Europe is crumbling.  The markets are up 4oo one day and down 400 the next.  Thoughts of 2008, when venerable institutions, Lehman Brothers and Bear Sterns, — remember them? — fell like dominoes play in the minds of investors.  There are never any certainties in life or in the markets for that matter, but seriously, what is an investor to do?

Three words….Defense!  Defense!  Defense!

By Dave Vrona: Senior Partner, eMed Consulting Group

One of the first considerations many medical practices face when implementing an EMR (electronic medical recordkeeping) system is whether to go with a Web-based ASP (application service provider) or purchase and maintain an in-house client server.

A Web-based ASP is a remotely hosted software system, which is accessed via the doctors’ own office computers’ Web browsers. The system server, which is managed by a professional IT company, is secure and HIPAA compliant – and it is located at the IT company’s data center, rather than at the doctor’s office.

By Nathan McNulty: MBA, CFP, Meritrust Wealth Management

Albert Einstein once called it the eighth wonder of the world. It is the silent driving force behind your retirement portfolio.  Compound interest is an elementary term for investors, but its impact on a long-term portfolio cannot be understated.  Take a penny and double it for 30 days.  On day 31, you’ll have over ten million dollars.  But for compound interest to be fully appreciated over the course of an investor’s life, it must be allowed to grow in a tax-free (or at least tax-deferred) environment.

By Eric Gunderson: Founder, Valeo Communications

Doctors and their staff see dozens of representatives from multiple businesses every week.  It can be difficult to make an impression on a practice’s decision makers when competing for mind share against pharma and medical device corporations, bankers, financial advisers, technology consultants, office supply firms and a myriad of other companies vying for a practice’s business.

Here are three strategies (which all begin with the letter “c” coincidentally) that a practice should employ with any marketing tactic intended to facilitate referrals from another practice:

By Kathie McDonald-McClure: Partner in the Health Care Service Team at Wyatt, Tarrant & Combs, LLP, and Margaret Young Levi: Counsel for the Health Care Service Team at Wyatt, Tarrant & Combs, LLP.

EXECUTIVE SUMMARY: In June 2011, the US Department of Health & Human Services (HHS) Office of Civil Rights (OCR) contracted for new periodic audits of covered entities and business associates to ensure compliance with the Privacy and Security Standards found in the Health Insurance Portability and Accountability Act (HIPAA) of 1996 as amended by the Health Information Technology for Economic and Clinical Health Act (HITECH Act).  Announcement of these new audits followed closely on the heels of a report from the HHS Office of Inspector General (OIG) criticizing oversight and enforcement of the HIPAA Security Rule requirements and recommending that the OCR conduct random audits.

By Kameron H. McQuay: Director, Blue & Co., LLC

Q. Is now a good time to sell my dental practice?

A. As consultants for over 150 dental practices in the Midwest, it’s no surprise we get asked this question often. With the majority of Americans unsure about the status of the recession…is it over?…will it double dip?…what’s the economic future?…more dentists are turning to their CPAs and other advisors for guidance to decide the right time to cash out of one of the largest, if not the largest, investment in their portfolio.

By Angela McCorkle Buckler: Partner, Wyatt Tarrant Combs

At some point most every healthcare employer is faced with having to part ways with an employee.  In addition to the basic issues any employer ought to consider when dealing with such a separation, there are a few issues specific to the healthcare industry to keep in mind.