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How Tax-Advantaged Health Plans Contribute to Your Financial …

The primary advantage of an FSA is that it allows you to pay for qualified medical expenses with pre-tax income, thereby reducing your tax bill. You can fund an FSA through a … See more

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URL: https://www.orba.com/how-tax-advantaged-health-plans-contribute-to-your-financial-well-being/

Accounting, Tax and Consulting Services for Health Care ORBA

WebFor more than 40 years, ORBA has provided tax, accounting and consulting services to physicians, medical practices, surgery centers, nursing homes and other health care …

Category: Medical Go Health

What are the Elements of a Medical Practice Business Plan

WebMarketing Plan. Marketing is a never-ending aspect of running a business, though it carries even more weight when you are starting up your practice. Plan on …

Category: Health Go Health

2022 Employee Benefit Plan and Transportation Limits

WebBicycle. $20. $20. Plan sponsors should update payroll and plan administration systems for the 2022 cost-of-living adjustments and incorporate the new …

Category: Health Go Health

Independent Contractor vs. Employee Status: The DOL Issues New …

WebThe test used by the U.S. Department of Labor (the “DOL”) for determining whether a worker should be classified as an independent contractor or an employee for …

Category: Health Go Health

Benefits of Non-Physician Providers (NPPs)- ORBA

WebNon-physician providers (NPPs) play a central role in the future of health care delivery in the United States. Medical practices are finding that non-physician providers, also referred to …

Category: Medical Go Health

Starting a New Practice

WebMany medical practices have been faced with both financial and practical challenges over the past two years because of the many effects of the COVID-19 …

Category: Medical Go Health

The Telehealth Tax Checklist

WebThe very nature of telehealth, which allows for patient care delivery across state lines, requires a careful analysis of federal and state tax compliance obligations. …

Category: Health Go Health

Mastering Your Patient’s Appointment Scheduling ORBA

Web12.11.18. Mastering Your Patient’s Appointment Scheduling. Kevin Omahen. Good patient scheduling is both an art and a science. The goal is to determine the right amount of time …

Category: Health Go Health

Nonphysician Providers Could Enhance Your Practice

WebFinancially Surviving the Pandemic. KEVIN OMAHEN, CPA. The COVID-19 pandemic has resulted in significant decreases in the volume of patient visits since mid-March.

Category: Health Go Health

How to Create a Fair Wage Structure for Your Practice ORBA

WebCreate a pay range for each position based on experience, education and unique skills; Decide on your practice’s level of pay transparency—typically, bonus programs should …

Category: Health Go Health

Should You Outsource Billing

WebTypically, a billing company demands a 6%-9% commission on all money they handle. In other words, if your practice earns $1 million in business annually, the …

Category: Health Go Health

How Can You Improve the Telemedicine Experience

WebTo fully benefit from telemedicine, be proactive in ensuring that you are implementing it in ways that will improve patient care and profitability moving forward. For more …

Category: Medicine Go Health

Understanding Welfare Plan Form 5500 Filing Requirements ORBA

WebAll unfunded (self-insured) and/or insured welfare plans must file a Form 5500 if the plan covers 100 or more plan participants as of the beginning of the plan year. The …

Category: Health Go Health

How to Reduce Your Risk of a Malpractice Lawsuit ORBA

WebIn medical malpractice, as in health care in general, prevention is the best medicine. For more information, contact Antwone Turner at 312.670.7444. Visit …

Category: Medical, Medicine Go Health

Why Attorneys’ Financial Wellness Matters for Law Firms

WebA range of options for educating and assisting attorneys with financial wellness is available.

Category: Health Go Health

Return of Physician Practice Management Companies

WebPhysician practice management companies (PPMCs) rose and fell during the 1990s. After acquiring dozens of medium-to-large multispecialty and single-specialty …

Category: Health Go Health

Take Action Now to Reduce Your 2023 Income Tax Bill and Your …

WebIf possible, you generally should maximize the annual savings contributions that can reduce your taxable income, including those to 401 (k) plans, traditional IRAs, …

Category: Health Go Health

Pros and Cons of Leaving Insurers’ Provider Panels

WebThe Pros. Often out-of-network providers have better reimbursement rates than comparable in-network rates. The practice avoids the time and expense of …

Category: Health Go Health