May 2009

Curbing Workers' Comp Costs
With reimbursements declining and operating costs increasing, your medical practice could use some financial relief. One way you may be able to realize some savings is by reducing your workers' compensation insurance premiums. A medical practice is, by nature, a risky workplace with plenty of opportunities for injuries and accidents. That intrinsic risk is reflected in the workers' comp premiums you pay. Another factor also affects your premiums--your "claims experience." By lowering the number of reported accidents, you may be able to lower your premiums. Read more...

Hospital/Physician Acquisition and Employment Strategies: Traps for the Unwary
Economic and health policy issues are driving hospitals and physicians toward a more integrative system of care delivery, including employment. On Wednesday, June 3, 2009, William H. Thompson of Hall, Render, Killian, Heath & Lyman and James D. Hamilton of the Somerset Health Care Team will present on this topic from 1:00 to 6:00 p.m. EST at the University of Saint Francis in Fort Wayne, Indiana. Learn from industry experts the facts that both hospital executives and physicians need to know about these types of transactions--from governance, autonomy and compensation--to the legal implications of hospitals and doctors coming together. A panel discussion and social gathering are included. You and your team are invited to this free conference. More details...

Are Your Patients Happy with Your Practice?
Without question, your patients' health is your number one priority. But their level of satisfaction is important, too. If you don't know how your patients would rate your practice, a survey can tell you. The most obvious reason to survey your patients is to provide feedback so you can make improvements. Satisfaction surveys can also uncover problems that busy physicians may not be aware of, especially in the front office. Read more...

Somerset Health Care Team News
Somerset Health Care Executive Roundtable - Our next Health Care Roundtable will be on Thursday, August 13, beginning at 11:30 a.m. Eastern--please save the date. Details will be available soon.

2009 RBMA Radiology Summit - Somerset will be exhibiting at this year's Radiology Business Management Association (RBMA) event that is being held in Orlando, Florida from June 7 to 10. Please come visit Jeff Boomershine and David Wolfe at Booth 101. For more information, please visit RBMA online.

In Other News...
2009 Seminars - Our seminars calendar for 2009 keeps expanding--we just added dates for our Financial Seminars for Women series. Also, don't miss our popular Somerset Practical MBA Program, which includes a live webinar simulcast so those of you outside the Indianapolis area can participate. Please go online to see the schedule and register.

The Business of Medicine Blog - Recent posts on The Business of Medicine blog include "Good News - Three Month Delay of Red Flag Rule." Please visit the blog and post your comments and questions. We'd love to hear from you.

Somerset Client Satisfaction Survey - If you are a Somerset client, please take our survey concerning the services we have provided to you. Our goal is to improve our overall relationship and better serve you. Go to survey.

Newsletters - Somerset publishes a variety of newsletters in addition to Health Care Commentaries--such as Wherewithal, Tax Times, Wealth Management Bullets and several others. Please visit the Newsletters page of our web site to read the archives and sign up to have new issues delivered to your email inbox.
  

Health Care Commentaries is provided by Somerset’s Health Care Team for our clients and other interested persons upon request. Since technical information is presented in generalized fashion, no final conclusion on these topics should be made without further review. For additional information on the issues discussed, please contact a member of our Health Care Team. This document is not intended or written to be used, and cannot be used, for the purpose of avoiding tax penalties that may be imposed on the taxpayer.