One less administrative headache for practicing medical doctors

Since 2007, another administrative burden loomed large over doctors heads...the "Red Flags Rule". Despite multiple protests from the AMA and other large doctor associations, the legislation persisted as just another threat to increasing administrative burdens for practicing physicians. The FTC delayed enforcement of the "Red Flags Rule" five times since 2007. The rule/bill, which potentially placed compliance cost and administrative burdens on physicians regarding the need for implementing identity theft and notification programs was amended in December to be called the Red Flag Program Clarification Act of 2010, so that health care providers are exempt. It's true, doctors actually caught a break here for the first time since I went into practice almost 20 years ago. I have watched government regulations increase, cost to comply with regulatory demands geometrically increase for practicing physicians, and reimbursement decrease year after year. This little amendment is one small victory for doctors in private practice. Savor it as they dont come often.

The Medical Entrepreneur book advises Medical Residents how to bill and get paid

Billing and getting paid are two entirely different issues. Billing is the act of electronically submitting a charge to an insurance company for services provided. Getting paid is receiving back what the insurance company contracted rate for you may be for those services. Often times, insurance companies defer, delay, or reject initial claims and as a result the billing process results in an accounts receivable that must be followed closely. The Medical Entrepreneur book really covers this area of importance in your medical practice so you can understand that different types of billing software, insurance company policies and procedures, collection of copays and deductibles and accounting processes you need to have in place to run your medical practice smoothly.