Year-End Financial Strategies for Compliance and Efficiency
In MedHQ’s recent webinar, Dhara Raval, CPA, Jackie Flores, CPA, and Shelley Sostak shared expert advice on preparing for year-end. The discussion emphasized actionable steps to streamline processes and ensure compliance. Topics covered include: W-9s and Vendor Set-Up: Properly setting up vendors early avoids year-end delays in 1099 filings and ensures accuracy in tax reporting. 1099s: Understanding […]
Annual Budget Planning: 4-Step Process
Creating a strong, repeatable budget process for Ambulatory Surgery Centers (ASCs) is essential for efficiency and strategic decision-making. MedHQ’s Senior Vice President of Client Accounting and Finance, Matt Lau, recently shared his expertise on this topic on HST Pathways’ “This Week in Surgery Centers” podcast, breaking down a four-step approach to streamline budgeting while ensuring […]
Preparing for and Managing Through a Financial Crisis
The Change Healthcare cyber hack is disrupting cash flow across the spectrum of healthcare including hospitals, outpatient facilities, physician practices, pharmacies, medical equipment providers, and more. Assuming most providers take 30-45 days to process a claim and receive payment – many organizations have yet to feel the pain, and won’t for a few more weeks. With any time you have available, we recommend […]
How Does Strategic Planning Fit into Your ASC Budget in 2024?
Declining reimbursements coupled with a labor shortage made anesthesia one of the biggest challenges for surgery centers in 2023. Centers are increasingly negotiating a budget line item that, until recently, existed primarily at hospitals—an anesthesia stipend. Over the past five years, MedHQ has seen a 65% increase in the number of centers that are incurring […]
The Essential Year-End Accounting Checklist for ASCs
Declining reimbursements coupled with a labor shortage made anesthesia one of the biggest challenges for surgery centers in 2023. Centers are increasingly negotiating a budget line item that, until recently, existed primarily at hospitals—an anesthesia stipend. Over the past five years, MedHQ has seen a 65% increase in the number of centers that are incurring […]
Escalating Anesthesia Costs at ASCs: How to Control Costs and Maximize Profitability at Your Surgery Center
Declining reimbursements coupled with a labor shortage made anesthesia one of the biggest challenges for surgery centers in 2023. Centers are increasingly negotiating a budget line item that, until recently, existed primarily at hospitals—an anesthesia stipend. Over the past five years, MedHQ has seen a 65% increase in the number of centers that are incurring […]
Is it Time for Your Ambulatory Surgery Center to Hire a Business Office Manager?
Here are three signs that it may be time for your Ambulatory Surgery Center to hire a Business Office Manager: Increasing administrative workload: If physicians and other staff members are spending a significant amount of time on administrative tasks such as billing, coding, and insurance claims, it may be a sign that there is a […]
Driving Efficiencies in Accounting & AP Automation
For the last few years, MedHQ has been moving toward digital transformation to benefit both MedHQ and its healthcare clients. In a series of blog posts, we will outline some of the digital processes and systems we use to secure sensitive data and streamline operations to drive success for our clients. Adel Rekowski, Staff Accountant […]
Digital Transformation in Software System Security
MedHQ is always looking toward innovation, and digital transformation has been a top priority for our team in recent years. In a series of blog posts, we are going to focus on the digital processes MedHQ uses to secure sensitive data, streamline operations, and improve efficiency to benefit our clients. Jake Bartelt, Operations and Implementation […]
MedHQ’s Theme of 2019: The Heart of the Business
This September, MedHQ hosted the first-ever Heart of the Business Conference in Chicago. The conference, which was timed to align with the American Heart Association Heart Walk, centered around the importance of health and wellness in every aspect of personal and professional life. As we prepared for the conference, our team focused on the mantra, […]
