Join us on August 8th for the Doctor's Wealth Preservation CME Seminar at ELLS CPAs. For more information or to sign up see the Advanced Planning for Doctors website http://bit.ly/L2twRB. … [Read more...]
Medical Practices at Risk for Fraud
February 14, 2012
Given the current state of the economy fraud and embezzlement is on the rise. Most medical practices rely on a single individual, typically a practice administrator or office manager, and do not have adequate financial controls or safeguards in place to protect the practice’s assets. Accordingly, these medical practices are susceptible to fraud, embezzlement and theft. Internal controls have always played a strong role in preventing fraud. Now more than ever … [Read more...]
Medical Office Embezzlement – Are you at risk?
November 10, 2011
Do you know how much your patients really pay you for procedures? Are you getting all the money that they bring to your practice? You would be surprised to know that according to the survey released by the Medical Group Management Association last year, nearly 83% of 688 practice managers were at some point affiliated with medical offices where employee theft occurred. Even though only 18% of such incidents involved the theft of $100,000 or more, usually taken in … [Read more...]
Attention Southern California Physicians
April 14, 2011
ELLS CPAs & Business Advisors is part of a very exciting collaboration of business professionals serving the healthcare community. The group is Advanced Planning For Doctors and we have just launched our new website. Check out www.advancedplanning4docs.com. For more information about Advanced Planning For Doctors call Greg Lewis at 714.569.1000. … [Read more...]
Advanced Healthcare Directive
March 7, 2011
Effective January 1, 2000, the California Healthcare Decisions Laws consolidated previous care directives, Durable Powers of Attorney for Healthcare and Natural Death Act Declarations, into the new Advanced Healthcare Directive that we have today. This law includes designating a health agent to make have legal authority to make healthcare decisions if you are no longer able to speak for yourself. The law also allows you to make specific written instructions for your … [Read more...]
Highlights of What Lies Ahead for Health Insurance
April 2, 2010
The year 2012 will see the floor on medical expenses deduction raised from 7.5% of adjusted gross income (AGI) to 10% except for individuals age 65 and older (and their spouses) which will remain at 7.5% through 2016. Beginning January 1, 2013, higher taxes for married couples with income above $250,000, and $200,000 for single taxpayers, will kick in: the Medicare payroll tax on earnings above those amounts will rise from 1.45% to 2.35% and unearned income for this … [Read more...]
Health Care In A Capsule
April 2, 2010
Depending on your circumstances, the newly enacted health reform legislation, formally known as the Patient Protection and Affordable Care Act, can either be a bitter pill to swallow or the new miracle drug. Many of the provisions are phased in over the next five years and may face legal challenges by both individuals and State governments, so don’t increase your blood pressure meds just yet. Provisions that are effective in 2010 and 2011: Adults who can’t get … [Read more...]
