Florida Advanced Practice Registered Nurses can now own and operate autonomously in primary care without a supervising physician. Learn more on how to get started.Continue reading
CMS to Resume Healthcare Provider Audits
By: Karina P. Gonzalez
CMS has announced that it will resume Medicare Fee-For-Service (FFS) medical reviews August 3, 2020 regardless of the status of the COVID-19 public health emergency. These audits have been suspended since March 30 as a result of the crisis and applied to prepayment reviews and post-payment reviews conducted by Medicare Administrative Contractors (MAC).Continue reading
Are You Paying TOO LITTLE in Rent?
By: Douglas Hughes, (Guest Blogger from CARR)
Conventional wisdom tells us that spending less money is the most effective approach to saving money. After all, a penny saved is a penny earned and the more you save, the more you have left over. That logic is hard to argue with, but it is not always fool proof. Saving money for your practice the wrong way can lead to diminished patient care, outdated equipment, the wrong location for your practice and additional negative results.
There are several critical factors often overlooked when a healthcare practice’s primary focus is paying the lowest rent vs. achieving the best combination of overall terms. Let’s look at three factors where paying higher rent could actually increase your profitability.
#1: The Cost to Build
Healthcare buildouts often cost two-to-three times more than a typical commercial real estate space. This is attributed to many factors that are unique to healthcare, including:
- More durable finishes
- Millwork and cabinetry
- Plumbing and sinks in exam rooms, sterilization centers and laboratories
- Increased electrical and HVAC requirements (heating, ventilation and air conditioning)
- And several more