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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 reporting requirements for non-employee compensation,

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December 12, 2024

Key Drivers for ASC Performance

Key Drivers for ASC Performance Identifying Key Indicators, Important Metrics, and Total Joint Impact Watch our webinar “Key Drivers for ASC Performance,” featuring insights from industry experts Dave Becker, CPA and Dhara Raval, CPA. Topics covered include: Defining key drivers/key performance indicators (KPIs) Identifying/understanding/working on the right drivers for your center Important drivers used in MedHQ reporting Total joint replacement

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October 16, 2024

The Corner Series Podcasts with Geoffrey Cockrell: HR, Accounting, Finance, and AI in Medical Practices

Geoffrey Cockrell, host of McGuireWoods’ “The Corner Series,” podcast recently interviewed Erik Miller, President of MedHQ, to discuss how MedHQ assists physician practices, outpatient surgery centers, and health systems in managing complex strategic and operational functions. During their conversation, they delved into the challenges as healthcare moves to new points of care. Some highlights include: Why more practices should consider an ASC

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October 16, 2024

Unlocking Financial Data: Simple Strategies for Problem-Solving, Planning, and Growth

Scott Becker, host of Becker’s Healthcare Podcast, interviews Erik Miller, President of MedHQ, and Mark Garvin, Avanza Healthcare Solutions Executive-in-Residence and leads a conversation around the impact of the maturing outpatient market on the healthcare industry. The podcast delves into the shifting landscape of outpatient operations and the evolving needs of hospitals. “Outpatient is growing year-over-year – from ambulatory surgery

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July 8, 2024

Case Study: Transforming HR Operations at a Physician-Owned Hospital

Overview When physician-owned Orthopaedic Hospital of Wisconsin (OHOW) began looking for a new Human Resources (HR) partner, they wanted someone who understood the unique needs of surgical facilities and they needed a nimble, responsive, and high-quality provider network to support their HR, recruiting, and operational demands.   “Getting HR right is critical for our partners and the 325 dedicated team members

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July 8, 2024

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 the following preparation:  Assess Your

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March 28, 2024

How the Staffing Shortage Impacts Your ASC’s Financial Health

The challenges of staffing healthcare facilities today are undeniably daunting. The healthcare sector has the highest number of unfilled positions nationwide, totaling 335,017 open job listings as of February 2024. According to a 2024 ERCI report, US healthcare employment across the continuum remained nearly half a million jobs below projected levels based on pre-pandemic trends. Basic supply and demand principles have come into

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March 20, 2024

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 anesthesia costs. Since 2018, the

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December 20, 2023

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 anesthesia costs. Since 2018, the

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December 14, 2023

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 anesthesia costs. Since 2018, the

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December 6, 2023
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