octors Management Services
What is Doctors Management Services?
Doctors Management Services is a full-service practice management consulting firm specializing in the business needs of today’s rapidly changing practice environment. A partial list of our services follows:
- Practice Management Surveys
Any practice can benefit from one of our in-depth diagnostic surveys of office procedures, systems, personnel utilization, practice image, financial health, etc. with suggestions for improvement as well as identification of strengths.
- Monthly Practice Accounting Services and Financial Statements
Includes balance sheet, statement of revenues and expenses, graphs, payroll registers, general ledger, and transaction journals. Your monthly bank statement is reconciled for you, and all transactions are categorized appropriately.
- E&M Code Bell Curve Analysis
Today’s strict rules on billing E&M codes present both risks and opportunities. You risk performing or reporting services more extensively than what Medicare determines is typical and, thus, face potential over-billing charges. To assist you assess this risk, we can compare your service patterns against national norms in order to see where you may be under-performing or under-billing.
- Chart Documentation Check-Up
CMS’s Correct Coding Initiative makes it necessary that all practices make certain that the diagnosis and level of service billed is supported by the patients’ chart documentation. Due to fear on the part of many physicians, we find that undercoding is quite common. We’ll look at a random sampling of 10 to 15 of your charts to assess whether or not you may be using evaluation and management (E&M) codes incorrectly, and whether or not your charts will stand up under third party payer audit.
- Group Practice Income Distribution
Group division of income formula development, for fee-for-service and capitated payment environments. The changes brought by the managed care payment mechanism can create a schizophrenic compensation environment. Traditional methods of compensating physicians in group practices will drive the practice of tomorrow into the ground financially and may result in loss of contracts with managed care organizations. Most group income distribution methods need re-tooling in order to ensure cost effective delivery of services.
- On-going Creative Management of Your Practice
This is one of the most valuable aspects of our services. Creative management which covers various areas including practice marketing, staff management, collections enhancement, collection controls, brochure development, scheduling efficiency, group practice concerns, and group division of income formulae, to name just a few.
- Management Reports
We keep you up to date on developments or trends we notice concerning specific and general areas of your practice.
- Regular Meetings at Your Office
We come to your office on a regular basis to discuss your practice concerns and your practice financial statements. We take the initiative on these meetings, the frequency of which you can select depending on your needs and desired fee basis.
- Quarterly and Annual Employer Tax Forms Prepared
We can prepare your employer tax forms federal and state, including annual preparation of W-2’s and 1099’s.
- Preparation of Personal and Corporate Tax Returns
Preparation of your business or personal tax return is combined with periodic tax planning to minimize your total tax liability. We can also help you know what to expect and plan for in terms of personal taxes for the coming year.
- Managed Care Negotiations and Evaluation
As doctors feel the increasing pressures of market driven healthcare reform, they must be able to calculate their cost of each service they provide – by CPT code – and know if capitated payment arrangements will cover their costs and provide sufficient revenue to generate an acceptable profit. Our assistance in this area helps physicians make the most of the opportunities that exist in a managed care environment.
- Planning and Negotiating Buy-In Arrangements
New associate buy-in arrangements can be sticky unless you know what the issues are. With our advice, and the coordinated effort of attorneys specializing in healthcare issues, we can work with you to make sure your associations with other physicians are properly structured not only for today’s concerns, but just as importantly, tomorrow’s issues as well.
History of Doctors Management Services
In 1952, William R. Hunt (1921 – 2001) founded Doctors Management Services. He provided services similar to those we offer today – exclusively for physicians – although the bulk of the services consisted of accounting and tax form preparation, combined with regular visits to client offices to discuss practice financial results and address practice management needs.
After 30 years of successful business, Mr. Hunt brought in David Hunt, his son, who joined the firm in late 1982. In 1984, William Hunt retired, turning ownership and operation over to David. On January 1, 1996, Doctors Management Services successfully merged its operation with Parrish, Moody & Fikes, p.c. Through this most effective partnership of a practice management consulting firm, and a full service CPA firm, Doctors Management Services continues to provide excellence in practice accounting, tax preparation/planning, with a strong emphasis in medical and dental practice management. The networking capabilities of Doctors Management Services through membership in the National Association of Health Care Consultants enables them to be more effective than ever in providing the wide range of business services required by today’s private practicing physician – especially as managed care makes inroads into the medical business environment. Through the years, David has assisted many physicians in starting practices from scratch, through hospital recruiting incentive plans and also through facilitating practice buy-outs between physicians.
In the summer of 1997, David was elected to the Board of Directors of the National Association of Health Care Consultants based in Washington D.C., and in June 2000, he accepted an appointment to the Foundation for Education in Healthcare Management, also based in Washington, D.C.
David has authored numerous articles for Medical Economics and Physician’s Management, has served as guest practice management faculty for the Texas Academy of Family Physicians and the McLennan County Family Practice Residency Program, and has written a monthly management column for the McLennan County Medical Society’s publication, Waco Medicine since the fall of 1989. In the summer of 1993, David was accepted as a member of the American Medical Association’s Doctors Advisory Network.
I have used the services of Doctors Management Service both for our professional association and also my personal finances. I have found them to be an invaluable service. I have had two IRS audits, and their meticulous records and faithful help were great aids in allowing me to come through these ordeals unscathed.
Ned Snyder, III, M.D.
Gastroenterologist, Galveston, Texas
We have used the service provided by Doctors Management Services since 1968. They have been very knowledgeable and efficient. We can recommend them without reservation.
Robert F. Corwin, M.D.
Urologist, Waco, Texas
The alacrity with which he prepares the accounting and tax information almost makes this area of my business bearable. I am finally able to make sense of the governmentese on most occasions. If not, I know that understanding is only a phone call away. I can recommend him to you without reservation and with the highest possible enthusiasm.
Jean R. Manning, M.D.
Vitreous & Retina Surgeon, Medina, Washington
Dave has been an excellent support to us since 1989. One of the best decisions we made when we decided to leave a group and go into solo practice was hiring Dave as our consultant. Dave has helped us with many problems. He always has a practical, insightful solution to whatever dilemmas or problems we pose to him.
Dave consults with us on a regular basis and has made excellent suggestions on how to streamline our practice and make it more efficient and productive. He is abreast of all new developments in managed care and Medicare, and he consistently keeps us on target.
Dave is wonderful in assisting us with employee issues. He guides us on how to approach employees, and he has even provided us with a “script” to use in difficult situations. I sometimes think that Dave should have been a preacher, or a psychiatrist. He definitely has a “way with words.”
Dave is always upbeat and positive. He brings a silver lining to every cloud.
Vincent P. Barr, M.D.
Cardiologist, DeSoto, TX
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Articles Written by David E. Hunt
January 2003 – Present
January 2002 – December 2002
January 2001 – December 2001
January 2000 – December 2000
January 1999-January 2000
January 2003 – Present
“HIPAA: A Little Help, A Little Guidance”
Huntlines, January 2003
“More HIPAA Guidance from HHS”
Huntlines, February 2003
“CPT Code Modifiers Can Enhance Collections”
Huntlines, March 2003
January 2002 – December 2002
“HIPAA’s Privacy Rule and Private Practice”
Huntlines, January 2002
“Do You and Your Billing Staff Understand These Billing Issues?”
Huntlines, February 2002
“When Can “Referred” Patients Be Billed as Consults?”
Huntlines, March 2002
“Reasonableness of Compensation”
Huntlines, May 2002
“Hey Everybody, Let’s Do the HIPAA Extension!”
Huntlines, June 2002
“Tips for Hiring Office Talent”
Huntlines, July 2002
“Can You Afford Lost Hospital Charges?”
Huntlines, August 2002
“Drug Companies Offering Patient Assistance”
Huntlines, September 2002
“The Making of Sausage and HIPAA: We’re Better Off Not Knowing”
Huntlines, October 2002
“Cafeteria Benefit Plans”
Huntlines, November 2002
“A Power Pill From the Folks at the Texas Department of Insurance”
Huntlines, December 2002
January 2001 – December 2001
“Medical Office Overhead Sharing — The Nuts and Bolts”
Huntlines, January 2001
“Cost Containment — Are You Doing Everything You Can to Conserve Revenue?”
Huntlines, February 2001
“Your Staff and the Contract Labor Question”
Huntlines, March 2001
“Medicare’s Best Kept Secret: Free Online Training”
Huntlines, April 2001
“Your Office Staff — Too Few or Too Many?”
Huntlines, May 2001
“The Tax Relief Act of 2001”
Huntlines, June 2001
“Governor Vetoes HB 1862–Now What?”
Huntlines, July 2001
“Your Computer System–Upgrade or Replace?”
Huntlines, August 2001
“The Fine Art of Giving and Receiving Patient Referrals”
Huntlines, September 2001
“Wave Scheduling Could be the Answer to Your Patient Flow Problems”
Huntlines, October 2001
“Getting Medicare to Pay You for Those Endless Encounters”
Huntlines, November 2001
“Medicare’s 2002 Fee Schedule–What Will it Mean for Your Practice?”
Huntlines, December 2001
January 2000 – December 2000
“Medicare Reassignment – Consideration When Structuring Employment Agreements”
Huntlines, January 2000
“Preventative Medicine Encounters”
Huntlines, February 2000
“Clarifications Issued for Anti-Kickback Safe Harbors”
Huntlines, March 2000
“Dividing Income in Group Practices”
Huntlines, April 2000
“Patient Satisfaction Surveys Help Get a Handle on Quality”
Huntlines, May 2000
“Accelerating Paying off Debt? Not So Fast – The Results Could Backfire.”
Huntlines, June 2000
“Evaluation and Management Documentation Guidelines – Version June 2000 – Here We Go Again!”
Huntlines, July 2000
“Confusion Over Consults”
Huntlines, August 2000
“Financial Controls for the Medical Practice”
Huntlines, September 2000
“Curtailing the Cost of Staff Turnover”
Huntlines, October 2000
“Family Income Shifting”
Huntlines, November 2000
“Collections: In-House Troubleshooting”
Huntlines, December 2000
January 1999 – January 2000
“Lessons Learned From Patient Chart Surveys – Part I”
Waco Medicine, January 1999
“Lessons Learned From Patient Chart Surveys – Part II”
Waco Medicine, February 1999
“Your Office Staff – Too Few, or Too Many?”
Waco Medicine, March 1999
“Recent Compliance Guidance From the OIG”
Waco Medicine, April 1999
“The Care and Feeding of a Well-Crafted Merger”
Waco Medicine, May 1999
“Making the Most of Business Travel Deductions”
Waco Medicine, June 1999
“Is Your Office Still Without a Personnel Policy Manual?”
Waco Medicine, July 1999
“Life on Planet Zarnak”
Waco Medicine, August 1999
“Professional Courtesy – Another Do-Do Bird”
Waco Medicine, September 1999
“Compliance Plans for the Medical Office – Part I”
Waco Medicine, October 1999
“Compliance Plans for the Medical Office – Part II”
Waco Medicine, November 1999
“Use CPT Code Modifiers to Your Advantage”
Waco Medicine, December 1999
“Tax Season Points to Ponder”
Waco Medicine, January 2000