All You Need To Know About HIPAA Business Associate Agreements

18 Aug

Source:  Jeff Broudy, PCIHIPAA

Medical and dental practices are hearing more and more about large fines and data breaches surrounding HIPAA (Health Insurance Portability and Accountability Act of 1996).   Many are fearful that significant fines could affect their practice, their patients, and their livelihood.  Is this a real threat?  I believe it is.  HIPAA law is confusing and protecting the security and privacy of your patient information is critical.  And with the enactment of the Omnibus Rule back in 2013, HIPAA compliance now extends to your Business Associates.

The Ponemon Institute states that 39% of all Business Associates have experienced a data breach, and in one case a practice was fined $31,000 for not having a Business Associate Agreement on file.  That’s an expensive document!

As HIPAA Compliance Specialists, a day rarely goes by that we don’t receive questions about Business Associates.  “Who’s a Business Associate?”  “Do I have risks if I don’t have execute the proper agreements?“ What does my practice need to do?”  In fact, out partners at PCIHIPAA created a HIPAA Webinar Series for our clients to help answer these questions.  Let me know if you would like more information on this webinar series, and let me help clarify some of these questions.

) “Do I need to have a Business Associate Agreements on file?”

Yes.  If you are a Covered Entity under HIPAA, you are required to execute Business Associate Agreements. The Health and Human Services website (HHS.gov) defines a Covered Entity as health care providers who electronically transmit any health information in connection with transactions for which HHS has adopted standards.

Bottom line:  Examples of Covered Entities under HIPAA are: Doctors, Clinics, Psychologists, Dentists, Chiropractors, Oral Surgeons, Podiatrists, Opthamologists, Nursing Homes, Pharmacies, Health Insurance Companies, HOMs, Company Health Plans, and Labs are all considered to be Covered Entities.

2) “Then, who is a Business Associate?

A Business Associate as any organization or person working in association with, or providing services to, a Covered Entity who handles or discloses Protected Health Information (PHI) or Personal Health Records (PHR.)  A business associate may also be a subcontractor that creates, receives, maintains, or transmits PHI on behalf of another business associate.  Think of it this way, if you contract with a person or an entity that needs access to your PHI to do their job, they are most likely a Business Associate.

Bottom line:  Examples of Business Associates are Lawyers, Accountants, IT Programmers and Representatives, Shredding Companies, Marketing Software Companies, Practice Management Software Providers, Data Backup and Storage Companies, and Billing Companies.   

“Are there exceptions?”

Yes.  HIPAA excludes conduits of information (UPS, FedEx), governmental agencies (Medicare and Medicaid), and anyone else this is not required to handle your PHI to do their jobs (Janitors, Landlords, Water Delivery Services).  Also your employees are not considered Business Associates.  They need to be trained on HIPAA, but you don’t need to execute Business Associate Agreements with your employees. 

3) “What exactly is a Business Associate Agreement, and why is it important?”

A Business Associate Agreement is a binding legal document that is now required under HIPAA for you to execute with all of your Business Associates. It is imperative that your practice has Business Associate Agreements in place, with a log kept for reference. Because your practice (as a Covered Entity) is sharing PHI with your Business Associate, this document ensures that the HIPAA mandates are in place and that your patients are protected.   If you use the right Business Associate Agreement, it also includes an “Indemnity Clause.”  The Indemnity Clause protects you financially, if PHI is compromised under your Business Associate’s watch.  This is a crucial clause that should be included in any Business Associate Agreement you execute.

Contact me for more information and/or assistance in creating a Business Associate Agreement (BAA) for your practice.

Click Here to take a free, no-obligation, HIPAA Risk Assessment.  The results will inform you of where you are compliant and where you are deficient in your HIPPA security.

The Problem With Payment Plans

25 May

Medical and dental practices can increase their plan acceptance by offering payment plans to patients who cannot afford to pay the entire amount at once, but payment plans present numerous inherent problems.

Here is a solution.

 

Contact me at 888-780-1333 to learn more about this and other ways to increase your cash flow and bottom line for your business or practice.

Click Here to view other “Cash Flow Minute” videos and subscribe to my blog to receive all of the “Tips and Tricks” that I share about your cash flow.

Podcast For Business – Are You Getting Paid?

15 May

Are You Getting Paid with David Wiener – Podcast For Business

The serious problem businesses have with collections is real. And it’s not going to get better any time soon. Today’s talk with David will shed some light into the world of collections and offer some real solutions to businesses who are struggling with receiving payment for services rendered.  Listen to this important podcast by clicking here.

Contacts:
David Wiener
Phone: 770-224-8504
Website: http://cashflowstrategies.us
Twitter: https://www.twitter.com/mr_cash_flow
LinkedIn: https://www.linkedin.com/in/cashflowstrategies

Taming Your Cash Flow Before It Eats You Alive

23 Apr
Source – TSI  http://tsico.com

There are no shortage of “beasts” your business needs to tame in order to thrive in the marketplace.

Some might read that and think of scaling to meet the needs of a growing client base or managing difficult employees, but cash flow can be one of the biggest monetary monsters you can encounter as a business owner. This far-to-often overlooked financial factor can be contained as easily as it can go out of control. Take a look at these four simple, yet sound, principles for taming cash flow in order to make it your business’ best friend rather than an arch enemy.

Let’s discuss how to keep the cash coming in rather than rolling out.

1. Increasing Incentives to Deter Debt Collection

This might seem like a simple psychological trick, but it is an easy way to tame the cash flow beast. Adding incentives for clients who consistently pay on time (or, even better, early) and/or having consequences for clients who are tardy with the amount due will help you keep your cash flow steady and on time. Another way to ensure cash flow is to offer incentives to clients who decide to pay in full rather than installment payments. You can rest assured you get all the cash you need with only a minor deduction of a discount, or whatever incentive you choose. A small discount now is better than having to pay for debt collection later to support cash flow.

2. Cash Flow Cognizance: Being Present & Aware of Cash Flow

It’s your business, livelihood, and financial future. So, why wouldn’t you want to be as aware of and up-to-date with all of your cash flow details? Analyzing your monthly cash flow and keeping a more frequent check on accounts receivable will help you stay on top of delinquent payments from clients and reel in any out-of-control outgoing cash on your part. Knowledge is truly power, as it can be easy to overlook cash flow issues. Awareness equals accountability for you and for your accounts receivable.

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Being keyed into your cash flow is the best way to continue saving money instead of burning up revenue.

3. Be Crafty With Credit Cards

Utilizing credit cards in the right way is another simple way to tame your cash flow. Not only do credit cards provide you more time to make payments as it can take 1-2 months for money to be deducted from your company account, but you can increase your credit score over time to gain access to even more benefits from your credit cards. The number one thing to remember for this tip to be successful is that you must always pay the balance in full and on time to avoid even more cash out with extra interest fees or penalties.

4. Consider Your Taxes

Taxes are, unfortunately, unavoidable. You have to factor them in when analyzing cash flow. If you are not taking the cost of taxes into consideration, then you are not properly projecting your cash flow and will be doing yourself a disservice. Automatically set aside the taxes that you will need to pay out and don’t even factor this money into anything you could utilize as cash out for your business. Try to even save extra just to have a cash buffer. In tough times, a little buffer can go a long way. You can also check into any tax discounts and creditsthat could be applicable to your business, because who doesn’t like a little help from time to time?

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Stay educated on business taxation to continue to tame cash flow.

Keeping these cash flow tips and tricks in mind will help your business position itself for the most potential profit and the least unnecessary loss. There’s a lot more of these principles to be taught and we can help you learn more about how to optimize your revenue today! content?Action=tp&cid=45676

Call me directly at 888-780-1333 or email me at david.wiener@cashflowstrategies.us for more information.

Top Tech Trends Impacting Debt Collection

16 Apr

Source: TSI, http://tsico.com

If your debt collection firm isn’t using analytics to predict consumer behavior you’re at risk of falling behind.

~~~

It’s no longer surprising that digital technology has disrupted every industry, including debt collection. From new data-driven software to internet security and workflow automation, tomorrow’s debt collection firms will look nothing like the local Mom and Pop agencies still mired in workflows straight out of the 1990s.

This post looks at how tech is impacting the debt collection industry. Browser-based platforms and multichannel collections processes are enabling professional firms to contact debtors where they live — online.

Digital Debt Collection

Business Wire published a press release from Technavio recently citing their published report on some of the latest software trends impacting debt collection. The report suggests the following trends as drivers of new tech in debt collection:

  • Increasing pressure for CFOs in every sector to improve their bottom line – including accounts receivable.
  • A desire by most companies to reduce the amount they spend on debt collection, which is the impetus both for outsourcing the process and for debt recovery agencies to adopt new technology to cut costs.
  • Consumer trends that show us fairly addicted to cell phone technology and the internet.
  • Increasing regulatory requirements at the local, state and federal levels have created a need for software that automates the compliance process, which protects both the debt collection firm and their client.
  • The worldwide proliferation of malware threatening client data in transit and at rest.
  • The necessity of improving customer relationships even during debt collection.

These trends have spawned a variety of digital disruptors in the form of technology that has impacted what has been a fairly traditional industry. They include:

  • The rise of browser-based platforms focused on omni-channel collection efforts that include debt collection by traditional means (letters and phone calls), and now, if opted in, email, as well as easy-to-use online portals for debt repayment. This allows a consistency of communication to consumers, a greater opportunity for automation, as well as customer personalization that allows debt collection agencies to reach consumers in their preferred channel and with preferred payment options.
  • The introduction of sophisticated data analytics tools that allow debt collection firms to closely analyze consumer behavior and the market trends driving that behavior. These analytics can help debt collection firms cull out consumers that will be more likely to pay all or a portion of their debt.
  • More stringent data security protocols and procedures to help keep consumer data safe from nefarious attacks.

Debt collection agencies must continue to embrace technology to stay competitive while leveraging data analytics to improve their efficiencies, stay compliant with applicable law, and protect critical client data.

To find out more about how TSI’s technology can impact your accounts receivable, contact me directly at david.wiener@cashflowstrategies.us or call me at 888-780-1333.

Has Your Medical/Dental Practice Had It’s “Checkup?”

13 Apr

There are many things that can cause a busy medical or dental practice to be less profitable that it could be.

Meet Dr. Bob and how he found the answer to higher profits and better cash flow for his practice.

Funny Natural Health Video

11 Apr

Watch this funny video – do you feel like this sometimes!

funny health video

7 Top WordPress plugins For Bloggersplugins

11 Apr

There are many plugins that can be used on your website, but not all are really easy to install.

With the WordPress plugins, which I present below, you can easily and
quickly integrate them to earn you various sources of revenue.

1. Amazon Affiliate For WordPress
This is one of my absolute favorite plugins that is used for the Amazon
affiliate program. You do not have to resort to using the outdated
widgets of Amazon itself.
In addition to normal affiliate links or the output of individual
product information, such as the price, you can insert very fancy
product boxes , as well as widgets at your site’s sidebar.

2. Adiro InText plugin
Adiro is a service that displays links in the article text.With this , the website owner can earn certain amount.
It’s a bit like Google AdSense, but it works differently. In any case,
it’s an interesting alternative to try, especially if you have a lot of
traffic.

3. ADVANCED ADS For BANNER CIRCUIT

Bannering may not be as prevalent as it used to be, but with a
dedicated website and enough traffic, there are still many companies
that use banners to advertise.

For this, I use the plugin Advanced Ads on many of my blogs and
websites. The free version already offers many possibilities to display
banner ads.

4.Auto Affiliate links

This is used by affiliate marketers. Adding affiliate links to your
own website by hand can be stressful, especially when it comes to
general texts. In addition, the manual installation makes it difficult
to care for and adjust later.
With just a few clicks, you can provide individual items on the entire website with an affiliate link.
It’s work is very reliable and you have a few customization options. The plugin, Auto Affiliate Links, is free.

5.Google AdSense Official Plugin

Google AdSense is still one of the most popular sources of revenue among bloggers and website operators.
It works by pasting onto your site, adverts of advertisers. Installation
is relatively easy and Google reliably pays part of what advertisers
pay.Of course it’s free.

6.Online Learning Courses Plugin

Video courses and seminars are increasingly gaining ground everywhere.
A large provider in this area is Udemy , where you will find countless English-language courses.
For example, on programming, online business, app development, affiliate marketing and much more.
With the paid plugin Online Learning Courses, you can show Udemy courses very stylish and earn money as an affiliate.

7. Price Mesh

This plug-in is used to integrate price comparisons into your website.
If you want to make your online easier and more profitable, try these plugs and you will forever be grateful to me

best

More Active Local Buyers to Your Door or Website

11 Apr

Are local buyers even aware that your business exists?

Active local buyers must know that your company is there to meet their needs. Your website must attract the right type of clients, and position you as the obvious choice.

In today’s business world, your website must be able to:
  • Come out on top in the search engines
  • Be mobile responsive and friendly
  • Have a load time of less than 2 seconds
  • Have an appealing look to prospects
  • Be able to be found by qualified clients

small business marketing assessment

Best Cheap Photo Editing Online

11 Apr

Best Cheap Photo Editing Online

Best Photo Editing Online

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