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Balance your debt and taxes with a variety of financial resources
Money Management When it comes to managing debt, creativity is often required. For example, the interest paid on borrowed funds is deductible by a borrowing chiropractic practice. However, funds directed to equity investment are not. According to a report issued by the Joint Committee on Taxation (JCT), “the after-tax effect of debt financing is more favor- able than equity financing because of the deductibility of interest. To expand, grow, or even exist, it is often necessary for a practice to use a variety of financial resources, initially broken into two categories: debt and equity.Effective assessment and treatment techniques for your triathlete patients
Clinical Concerns Swim. Bike. Run. Repeat. Welcome to the world of injuries waiting to happen. The successful treatment of triathletes depends on many factors, but to keep things simple, the following will address the most common repetitive ailments you are likely to see with this patient demographic. The research shows some alarming numbers pertaining to shoulder pain. And competitive swimming has long been associated with shoulder pain because 90 percent of a swimmer’s propulsion comes from the upper extremities.Here’s how to prepare your practice for Phase 2 HIPAA audits
Legal Ease Almost two years have passed since the U.S. Department of Health and Human Services’ (HHS) Office for Civil Rights (OCR) announced that Phase 2 HIPAA audits would happen. For those who have been selected as part of the audit process, the wait is almost over. This article sets out to explain the purpose of the Phase 2 audits, how they differ to the Phase 1 (pilot) audits, and outline some of the key steps organizations should take to prepare. Unlike the Phase 1 audits, which focused solely on covered entities and were completed in 2011 and 2012, the Phase 2 audits will also assess the business associates of those covered entities.Searching for new chiropractic patients? Avoid these risky moves
Practice Central Like many people, you might personally be a huge fan of Groupon, Angie’s List, and similar discount sites. You can use these for car detailing, housekeeping services, dining out, and many other things. It’s a great way to market new and small businesses—unless you work in healthcare. When we put chiropractic adjustments on the same playing field as a pedicure or car detailing service, how much value are we placing on chiropractic care in the minds of the public? No matter how you feel about that aspect, we are not allowed, as a profession, to dramatically discount our services.The WAVE: Starting a new conversation on chiropractic
In Focus A new conversation is on the table, one about new means of engagement between chiropractors and their patients, medical colleagues, and the public. This new conversation discusses chiropractic’s role in brain health and related stress. Most patients don’t understand such terms as subluxation or spinal misalignment but patients do understand what pain and stress feel like. This message was relayed by presenters at Life Chiropractic College West’s seventh annual The WAVE conference, Minds That Matter, held Aug. 4–6, 2017, in San Francisco.What to do when patients test your patience
Practice Central Imagine that you are interacting with a patient who is visibly upset. After a bad experience with her MD, this particular patient has come to your clinic for help. She had explained to her MD that her toes would sometimes turn blue. She needed someone to acknowledge that this was indeed the case, and listen to her concerns. Ostensibly, her MD had dismissed it as a matter of chance, and had sent her away fuming. Frustrated that her doctor had not taken her seriously, she is now in your office. When you find yourself in this position will you respond with your own frustration, or will you seize the opportunity to turn this patient into a raving fan?
