Putting together a private practice in the medical field is about more than just practicing medicine or starting a business. Those who put in the time and effort to establish a successful practice likely become a part of the community. As a result, when it comes time to retire or move on to other professional endeavors, private practice owners likely hope to set the facility up for a successful transition.
The Eliminating Kickbacks in Recovery Act of 2018 (EKRA) is part of the Substance Use-Disorder Prevention that Promotes Opioid Recovery and Treatment for Patients and Communities Act (SUPPORT). This new law will go into effect in October.
The Department of Justice (DOJ) recently released the indictment for four men and seven companies the agency has accused of involvement in a billion-dollar health care fraud scheme. The accusations include conspiracy to commit health care fraud, mail fraud and introduction of misbranded drugs into interstate commerce and result in 32 criminal charges.
The United States Federal Bureau of Investigation (FBI) has ramped up investigations of allegations of illegal medical kickbacks to physicians and health care businesses in the Dallas area. Since May, the agency has raided at least four separate, local health care businesses.
A recent article in a home health care industry publication lays out a compelling argument against a bounty system that punishes individuals and companies that have done nothing wrong. Their "crimes" are often little more than bookkeeping errors, insufficient documentation or simply being in the wrong place at the wrong time and getting pulled into one of many investigations launched in pursuit of big paydays from whistleblower lawsuits.
If you operate a pharmacy, you want to do a great job of getting patients the medications they need. However, sometimes mistakes happen. When your staff gets busy or distracted, they may make errors. What may seem like a small mistake can have severe consequences. According to the U.S. Food and Drug Administration, preventable dispensing errors can be deadly.
If you are considering entering the health care industry as an owner, you are not alone. According to MB Financial Bank, there has been high activity in the merger and acquisition of health care businesses. Participation can lead not only to increased income for you but also to improvements in the industry, even at a small scale.
In mid-January, the Centers for Medicare & Medicaid Services published a home health agency final rule outlining new minimum standards for home health agencies participating in Medicare and Medicaid.
Just like with any other business, the owners of health care companies may wish to expand by purchasing related organizations, or they may wish to sell to a potential buyer. Additionally, individuals may want to get into the health care industry by purchasing an already existing organization.