Steven M. Harris, Esq., is a nationally recognized healthcare attorney and a member of the law firm McDonald Hopkins LLC. Steve has a national reputation as an advisor to business and professional organizations, counsels privately and publicly owned corporations and healthcare clients on contractual and regulatory issues, succession planning, and related transactional matters. He represents clients in acquisitions, divestitures, joint ventures and contract disputes. In addition to acting as a business advisor, Steve serves as a member of various boards of directors. Steve also commits substantial time educating the medical profession on business and regulatory matters. Presentations include the American Academy of Orthopedic Surgeons, the American College of Occupational and Environmental Medicine, Northwestern Memorial Hospital, the University of Chicago Hospital, the American Dental Association, and Illinois Medical Group Management Association (ILMGMA). Contact him via e-mail at sharris@mcdonaldhopkins.com.
It is no surprise to practicing physicians that the healthcare landscape is becoming more and more unpredictable. Because of the volatility surrounding today’s healthcare environment, such as increasing overhead costs and decreasing reimbursement rates, many physicians are asking themselves whether there is a different, more lucrative way to practice medicine. Concierge medicine may just be… [Read More]
For a provider of healthcare services, payer audits are always a possibility. Both government and private payers consistently monitor providers to prevent fraud, overpayment, and improper billing or coding procedures. Audits can be nerve-racking and intimidating, even if a provider is billing correctly. Improper billing can lead to civil and criminal sanctions. To alleviate some… [Read More]
Understanding your compensation is critical before you decide to accept a job. In the world of medical practices or groups, however, this understanding is even more essential, because a wide variety of compensation structures for physicians exists. These compensation models can dictate not only what a physician will make in the near future, but also… [Read More]
On Dec. 20, 2017, Congress passed a massive tax bill that will have an impact on nearly every individual and business in America. The bill makes sweeping revisions to existing tax provisions, and it will largely affect the health industry. Individual Mandate Repealed The bill repeals the individual mandate established in 2005 by the Affordable… [Read More]
The ABCs of MACRA The transition year under the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) is at an end. MACRA repealed the Medicare Sustainable Growth Rate (SGR) methodology for updates to the Physician Fee Schedule (PFS) and replaced it with a value-driven payment system. The new approach to payment is called the… [Read More]
Every day, more than 5 million records are lost or stolen. That’s more than 217,000 records per hour, 3,600 records per minute and 60 records every second. Due to increasingly sophisticated hacking tactics and ransomware, it’s anticipated that the number of reported breaches will continue to rise at an accelerated rate. In August, the list… [Read More]
Selling a medical practice can be a lucrative endeavor. One of the most important phases of any sale transaction is the due diligence process. During this phase, a potential buyer and their advisors have the opportunity to examine the seller’s books, records and files in great detail to ensure that the buyer is comfortable purchasing… [Read More]
What do you do when you are presented with a patient who needs treatment but the patient’s insurance company will not pay for the services? Can you provide the services anyway? Who will pay for them? How do you collect payment for such services? If the patient consents to receive the services in spite of… [Read More]
You started a medical practice and, through the years, have developed policies, procedures, strategies, work products, client relationships and confidential information that are specific to your practice and its success. As your practice grows, you know you will need to hire more employees. You also understand, however, that any potential employee may pose a risk… [Read More]
After extensive research and careful deliberation, you have finally made the exciting but daunting decision to purchase a healthcare practice. You know that in the next couple of months you are going to need to examine the practice from a different perspective—one of a future owner. You also recognize that in order to facilitate the… [Read More]