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2017
May 25

Should I Implement Third-Party Billing for My Health Care Practice?

Physician practices tend to struggle frequently with the decision about whether or not they should outsource their billing processes. It can be quite the balancing act weighing the pros and cons. What is good for one practice might not work for another. This article goes over a few considerations health care practitioners should take when deliberating third-party billing.

2017
May 25

Is Your Restaurant Ready for a Second (or Third) Location?

Are you thinking about expanding your restaurant? Is now the time to open a second location? Opening a second (or third) location for your restaurant is not a decision to be taken lightly. This article provides a few considerations restaurant owners should take before they map out their move for expansion.

2017
May 17

Combining Liquidity and Efficiency Metrics: Cash Conversion Cycle Can Be a Useful Management Tool

The cash conversion cycle is a financial metric that evaluates the time it takes your company to convert raw materials to cash collected from customers. This article tells how it is calculated and what it means.

2017
May 09

Is Now the Time to Lock In a 30-Year Mortgage?

Buying a home is one of the most exciting and expensive purchases you will make. Whether you are buying a new home for your growing family, a vacation home for the summer or winter, or an investment property, deciding how to pay for it is just as important of a decision as it is to pick the house that is right for you. How you choose to finance such a major purchase can have a significant long-term impact on your finances. If you are purchasing your home and are considering a mortgage loan, this article will provide you with an understanding of the main types of mortgages and what benefits they can provide to help you determine which mortgage is most appropriate.

2017
May 05

Fraud and the Not-for-Profit Organization: How to Counter Your Vulnerabilities

Every organization, whether for-profit or not-for-profit, is at risk of falling victim to costly acts of fraud. Not-for-profit organizations, however, have some common characteristics that can make them particularly susceptible to fraud. This article discusses organizational weak spots and advises on ways to combat risks by implementing some simple controls. A Sidebar discusses the “fraud triangle” of conditions that can lead to fraud.

2017
Apr 28

City of Chicago Extends Amusement Tax to Satellite TV Services

Over the past few years, the City of Chicago and Cook County have enacted two new taxes that directly impact restaurants and bars. Last fall, we reported on Cook County’s penny-per-ounce tax on sales of sugary drinks, which will take effect on July 1, 2017. On the entertainment front, the City of Chicago’s “Amusement Tax,” originally implemented in 2015, left many restaurateurs and bar owners less than amused, as a tax was placed on streaming services, such as Netflix, Hulu and Spotify, as well as cloud computing services to which many subscribe. Now, the City has extended that same Amusement Tax to cover satellite TV services. This article provides a play-by-play on how the tax works.

2017
Apr 28

Five Best Practices for Improving Collections

Unlike other businesses, which often stop providing goods and services until clients pay their bill, attorneys generally cannot withdraw representation while waiting for a client to remit an invoice. This article suggests other ways to improve collections, including billing promptly, checking invoices for accuracy and following up with clients as soon as a payment is late. A Sidebar helps attorneys avoid the conditions that lead to late payments.

2017
Apr 26

What Can You do to Prevent Employee Fraud?

It is important for medical professionals to be aware of the potential for employee fraud in their practices and to ensure that their internal controls are designed to provide maximum protection. This article explains the most common types of employee fraud and lists several steps management can take to keep it from happening, such as conducting a risk assessment, separating staff duties and monitoring employee behavior.

2017
Apr 24

A Founder’s Decision to Sell: Considerations for Obtaining Sustained Value for a Life’s Work

Many of the most successful businesses are the product of the investment of its founder’s time, energy and money. Often, this investment may be the most significant source of their retirement income or personal wealth. Yet, at some point, whether due to political or market conditions, or more personal reasons, it may become time to sell the business and unlock the value of this investment. This article provides a few considerations business owners should take when it comes time to sell their closely held business, especially for those founders who have never been through a sales process, to achieve a successful exit.

2017
Apr 21

Eight Tips for Writing, or Revising, a Whistleblower Policy

Whistleblower policies encourage staff, volunteers and others to discreetly provide credible information on concerns of illegal practices or violations of organizational policies. They protect individuals who risk their careers to report illegal or unethical practices. This article offers eight suggestions for writing or refining an organization’s whistleblower policy.

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