For most physician-leaders of ambulatory surgery centers, accounting is neither their first love nor their best strength. But in the early days of establishing a successful center, physician partners find themselves in many roles. The buck stops with them for everything from accounting to waste removal and lots of other functions in between, including their primary craft of providing quality
Payroll is one business process that must be 100% accurate every time. Your employees depend on receiving the correct amount, on time, for every pay period. Federal and state government agencies demand that you keep up with all current rules and regulations and report taxes precisely. Any payroll mistakes could not only damage employee morale, they could also open up
Employees are the most important asset and one of the most significant expenses in the operation of your ambulatory surgery center. A 2017 HealthCare Appraisers survey of ASCs in the United States found that 57% of respondents spend 20% to 29.9% of their revenue on employee salaries and wages. And according to research from VMG Health, participating ASCs reported dedicating
Keeping up with credentialing is an ongoing challenge for ambulatory surgery centers (ASCs). It’s a juggling act to ensure you are tracking all medical providers’ credentials, renewing them before their expiration dates, and keeping updated documents on file. Combine that onerous task with staying current on all new industry, municipal, state, and federal credentialing guidelines, and you have many opportunities
HR management is notoriously complex in healthcare organizations – and even more so within hospital joint ventures. Administrators are charged with handling increasingly intricate operations, from compliance standards to hiring and onboarding practices. And when admin teams become overextended, tensions run high, problems build up, and overall efficiency and morale suffer. Outsourcing HR functions to an independent provider can ease
MedHQ provides accounting services tailored to the specific needs of healthcare providers. We oversee every aspect of our clients’ accounting processes to improve performance, save time, and avoid costly mistakes. A recent discovery on behalf of one of our clients showed the value of MedHQ’s approach. During a routine monthly assessment, MedHQ team member Dave Becker noticed a sizable increase
MedHQ provides comprehensive and customized HR, accounting, and credentialing services to surgery centers, physician practices, and other healthcare organizations. Because of the sensitive nature of our clients’ work, data security is an issue we take very seriously. We have recently partnered with Net Works Consulting Resources, an IT managed services provider that ensures that our customers’ important data is monitored
The new year is still a few months away, but for your human resources department, it is approaching rapidly. Fall is open enrollment season, which means HR professionals are working hard to determine which workplace benefits are best suited to your facility and your employees in the coming year. Open enrollment is a busy and often stressful time for HR,
An organization is only as strong as its individual employees. And while most professionals try to maintain some separation between their home lives and their work lives, the two worlds inevitably overlap. When people are coping with personal difficulties – financial worries, family issues, relationship troubles, health or substance abuse problems – they often bring them into the workplace as
Ambulatory surgery center (ASC) leaders are focused on a wide range of management and patient care decisions every day. An ASC’s finances are complex and demanding; even a small error or oversight can result in thousands of dollars in losses. MedHQ uses expert accounting strategies to reduce risk and improve business performance for ASCs, and often shares the following insights
