• Practice Management: How to Protect All of Your Hard Work

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    YOs chat with Academy coding expert Jenny Edgar during a Nov. 11 practice management roundtable at AAO 2017

    Starting your first job in ophthalmology brings many challenges, from managing staff and hiring people to getting loans for equipment. In addition to treating patients, you’ll also need to make sure you don’t overlook how to protect the very thing you are building — your practice.

    The Nov. 11 “Manage YO Practice” roundtable discussion with the experts at AAO 2017 was a great opportunity to bring some focus on this topic, particularly coding, risk management, cybersecurity and health care law.  

    Jenny Edgar, CPC, CPCO, OCS, the Academy’s coding specialist, looked at how coding resources can maximize revenue generation. All YOs have a free membership to the American Academy of Ophthalmic Executives, and the AAOE listservs are a great way to get all of your coding questions answered to ensure ideal reimbursement. 

    Michelle Pineda, a risk manager for the Ophthalmic Mutual Insurance Company, explored the resources available for handling comanagement with optometrists. She also shared informed consent templates and the OMIC hotline. This hotline serves as a risk-free way to discuss and receive advice on handling mistakes or potential malpractice cases.  

    Sidd Chopra discussed how cybersecurity is critical to our offices. Health record identity theft is a rapidly growing field, with millions of dollars at stake. And we can be held liable for a data breach. So as physicians, it is our responsibility to keep patient’s information safe.

    Last but not least, Daniel M. Bernick, JD, MBA, a principal of The Health Care Group and Health Care Law Associates, shared his expertise on contract review and negotiation as well as tax issues and how to avoid fraud and Stark law violations.   

    The consequences of our actions can be very expensive, so there’s a great need for heightened awareness of these issues. Luckily the Academy has many resources for YOs to increase our knowledge and protect our future. Start by perusing the collection of lectures and articles available on the AAOE website.