Everything is going up but your payments

By Robert C. Fine, JD, CAE; Robert Jasak, JD; and Matthew Twetten Orthopaedists face 11+ percent Medicare payment cut Orthopaedists are facing possible across-the-board Medicare payment cuts of more than 11 percent, starting in January 2008. Physicians in other specialties are facing similar payment cuts. If these cuts take place, they will be among the largest since the “resource-based” Medicare physician payment system started in 1992.

Implant makers add consultant info

The recent settlement agreements between five orthopaedic implant manufacturers and the U.S. Attorney of New Jersey (Department of Justice) required the companies to post financial information on their relationships to orthopaedic surgeons without any explanation of why the payments were made. As of Nov. 15, three of the companies had added, in another section of their Web sites, information about individual consultants that includes a description of the services rendered.

Hiring better billing staff

Karen Zupko

What to look for and how to find it Picking the wrong people to fill business office positions is a very expensive mistake. Because staff salaries are the largest component of overhead in any practice, you should focus on hiring staff who have the skills and talent to add to your revenues. Conversely, hiring less skilled or trained people will have a negative impact on revenues—no matter how hard you work.

Real world tips for a more successful practice

Steven E. Fisher, MBA

Symposium serves up healthy slice of business acumen Conventional wisdom once held that the three “As”—ability, affability, and availability—were enough to guarantee a successful medical practice. But with decreasing reimbursements, rising operational costs, increasing regulations, and the constant threat of litigation, three other letters—MBA (Masters in Business Administration)—may be just as important today.

Group purchasing program celebrates first anniversary

Steven E. Fisher, MBA

Results continue to exceed expectations A year ago, the American Association of Orthopaedic Surgeons (AAOS) signed an agreement with Esurg Corporation for a new member benefit—a group purchasing program. Since then, the program has consistently exceeded expectations. In fact, Esurg recently noted that the AAOS had accomplished more during the first 6 months of the program than other affiliates had accomplished in 18 months.

AAOS updates coding resources for 2008

Coding requirements continue to change and AAOS is keeping pace. All AAOS coding products have been completely updated for 2008 to help you stay current and maximize your reimbursements. Hundreds of code and cross-reference changes for 2008 are covered. CTP Coding Guide The Orthopaedic CPT Coding Guide explains the five levels of evaluation and management (E&M) codes, and includes practical coding scenarios to help you understand coding changes and code to the highest specificity.