- Increase your cash flow and maximize your growth using proven strategies
- Overcome obstacles and challenges for seizing all profit
opportunities - Create step-by-step business plans to guarantee your growth
- Shift from selling products to selling “must have” solutions
that attract new customers and retain existing ones
Wednesday, September 16, 2015
Facts
Tuesday, September 15, 2015
“How do I find the money to start my business?”
One of the most frequent questions I get as a mentor to entrepreneurs is “How do I find the money to start my business?” I always answer that there isn’t any magic, and contrary to popular myth, nobody is waiting in the wings to throw money at you just because you have a new and exciting business idea.
On the other hand, there are many additional creative options available for starting a business that you might not find when buying a car, home or other major consumer item. If you have the urge to be an entrepreneur, I encourage you to think seriously about each of these, before you zero in on one or two, and get totally discouraged if those don’t work for you.
Of course, every alternative has advantages and disadvantages, so any given one may not be available or attractive to you. For example, professional investors put great priority on your previous experience in building a business, and they expect to own a portion of the business equity and control for the funds they do provide. These are tough for a first-time entrepreneur.
Thus it is always a question of what you qualify for, and what you are willing to give up, to turn your dream idea into a viable business. Here is my list of the 10 most common sources of funding today, in reverse priority sequence, with some rules of thumb to channel your focus:
10. Seek a bank loan or credit-card line of credit.
In general, this won’t happen for a new startup unless you have a good credit history or existing assets that you are willing to put at risk for collateral. In the U.S., you may find that the Small Business Administration (SBA) can get you infusions of cash without normal backup requirements.
9. Trade equity or services for startup help.
This is most often called bartering your skills or something you have for something you need. An example would be negotiating free office space by agreeing to support the computer systems for all the other office tenants. Another common example is exchanging equity for legal and accounting support.
8. Negotiate an advance from a strategic partner or customer.
Find a major customer, or a complimentary business, who sees such value in your idea that they are willing to give you an advance on royalty payments to complete your development. Variations on this theme include early licensing or white-labeling agreements.
7. Join a startup incubator or accelerator.
These organizations, such as Y Combinator, are very popular these days, and are often associated with major universities, community development organizations, or even large companies. Most provide free resources to startups, including office facilities and consulting, but many provide seed funding as well.
6. Solicit venture-capital investors.
These are professional investors, such as Accel Partners, who invest institutional money in qualified startups, usually with a proven business model, ready to scale. They typically look for big opportunities, needing a couple of million dollars or more, with a proven team. Look for a warm introduction to make this work.
5. Apply to local angel-investor groups.
Most metropolitan areas have groups of local high-net-worth individuals interested in supporting startups, and willing to syndicate amounts up to a million dollars for qualified startups. Use online platforms such as Gustto find them, and local networking to find ones that relate to your industry and passion.
4. Start a crowdfunding campaign online.
This newest source of funding, where anyone can participate per theJOBS Act, is exemplified by online sites such as Kickstarter. Here people make online pledges to your startup during a campaign, to pre-buy the product for later delivery, give donations or qualify for a reward, such as a T-shirt.
3. Request a small-business grant.
These are government funds allocated to support new technologies and important causes, such as education, medicine and social needs. A good place to start looking is Grants.gov, which is a searchable directory of more than 1,000 federal grant programs. The process is long, but it doesn’t cost you any equity.
2. Pitch your needs to friends and family.
As a general rule, professional investors will expect that you have already have commitments from this source to show your credibility. If your friends and family don’t believe in you, don’t expect outsiders to jump in. This is the primary source of non-personal funds for very early-stage startups.
1. Fund your startup yourself.
These days, the costs to start a business are at an all-time low, and over 90 percent of startups are self funded (also called bootstrapping). It may take a bit longer to save some money before you start and grow organically, but the advantage is that you don’t have to give up any equity or control. Your business is yours alone.
You can see that all of these options require work and commitment on your part, so there is no magic or free money. Every funding decision is a complex tradeoff between near-term and longer-term costs and paybacks, as well as overall ownership and control.
With the many options available, there is no excuse for not living your dream, rather than dreaming about living.
Related: Anatomy of a Kickstarter Backer
Entrepreneur Coaching
Monday, September 14, 2015
Cover Letter
Dear Hiring Manager:
I am writing in response to the position you have posted on Go2Worksource.com for Americorps member opportunity for the youth project, and think I would make a candidate for the position. As a highly competent team leader, I would bring an organized, detailed-orientated, and efficient mind set to this role.
In my most recent position I maintained an exceedingly functional office environment while managing accounts receivables, data entry, insurance verification, claim error investigation, payment posting and balancing. I have a knack for problem solving and work well independently with little oversight. I respond well to requests from colleagues and clients in a timely and professional manner and am adept at prioritizing multiple ongoing projects.
Highlights of my Qualifications are:
-Improving invoicing procedures and patient/client coordination
-Tracking merits to optimize performance
-Processing a high-volume of invoices/demographics and inputting correct data accurately
-Researching and resolving billing issues
I am a self starter and excel at patient/client coordination, analyzing information, and data management. I am also experienced with
many computer programs, such as, Microsoft Office Suite 2010, Excel, Access, Word, Presentations, Publications, Quick books, and Internet navigation for researching and investigations.
As a part of a team for Americorps, I hope to support your continued success as a leader in Southwest Workforce development Counsel and youth project services.
You will find my resume is attached. I look forward to hearing from you and want to thank you for your time and consideration.
Sincerely,
Toni L. Vossen
I am writing in response to the position you have posted on Go2Worksource.com for Americorps member opportunity for the youth project, and think I would make a candidate for the position. As a highly competent team leader, I would bring an organized, detailed-orientated, and efficient mind set to this role.
In my most recent position I maintained an exceedingly functional office environment while managing accounts receivables, data entry, insurance verification, claim error investigation, payment posting and balancing. I have a knack for problem solving and work well independently with little oversight. I respond well to requests from colleagues and clients in a timely and professional manner and am adept at prioritizing multiple ongoing projects.
Highlights of my Qualifications are:
-Improving invoicing procedures and patient/client coordination
-Tracking merits to optimize performance
-Processing a high-volume of invoices/demographics and inputting correct data accurately
-Researching and resolving billing issues
I am a self starter and excel at patient/client coordination, analyzing information, and data management. I am also experienced with
many computer programs, such as, Microsoft Office Suite 2010, Excel, Access, Word, Presentations, Publications, Quick books, and Internet navigation for researching and investigations.
As a part of a team for Americorps, I hope to support your continued success as a leader in Southwest Workforce development Counsel and youth project services.
You will find my resume is attached. I look forward to hearing from you and want to thank you for your time and consideration.
Sincerely,
Toni L. Vossen
Medical Billing Specialists
Job brief
We are looking for a skilled Billing Specialist to provide financial, administrative and clerical services and to ensure accuracy and efficiency of operations. You will process and monitor incoming payments and secure revenue by verifying and posting receipts.
Responsibilities
- Keep track and process accounts and incoming payments in compliance with financial policies and procedures
- Perform day to day financial transactions including verifying, classifying, computing, posting and recording accounts receivable data
- Prepare and send out bills, invoices and bank deposits
- Verify billing accounts with accounts receivable ledger to ensure that all payments are accounted for and properly posted
- Verify discrepancies by and resolve clients’ billing issues
- Facilitate swift payment of invoices due to the organisation by sending bill reminders and making collection calls to outstanding accounts
- Generate financial statements and reports detailing accounts receivable status
Requirements
- Proven working experience as a billing specialist
- Solid understanding of basic accounting principles, fair credit practices and collection regulations
- Proven ability to calculate, post and manage accounting figures and financial records
- Data entry skills along with a knack for numbers
- Hands-on experience in operating spreadsheets and accounting software (JDE or other full-scale ER software)
- Proficiency in English and in MS Office
- Customer service orientation and negotiation skills
- High degree of accuracy and attention to detail
Friday, September 11, 2015
Independent Contractor Defined
Independent Contractor Defined
People such as doctors, dentists, veterinarians, lawyers, accountants, contractors, subcontractors, public stenographers, or auctioneers who are in an independent trade, business, or profession in which they offer their services to the general public are generally independent contractors. However, whether these people are independent contractors or employees depends on the facts in each case. The general rule is that an individual is an independent contractor if the payer has the right to control or direct only the result of the work and not what will be done and how it will be done. The earnings of a person who is working as an independent contractor are subject to Self-Employment Tax.
If you are an independent contractor, you are self-employed. To find out what your tax obligations are, visit the Self-Employed Tax Center.
You are not an independent contractor if you perform services that can be controlled by an employer (what will be done and how it will be done). This applies even if you are given freedom of action. What matters is that the employer has the legal right to control the details of how the services are performed.
If an employer-employee relationship exists (regardless of what the relationship is called), you are not an independent contractor and your earnings are generally not subject to Self-Employment Tax.
However, your earnings as an employee may be subject to FICA (Social Security tax and Medicare) and income tax withholding.
For more information on determining whether you are an independent contractor or an employee, refer to the section on Independent Contractors or Employees.
Related Topics
Page Last Reviewed or Updated: 05-Aug-2015
Thursday, September 10, 2015
DIFFERENT TYPES OF SELF - INSURED PAYORS
Lists of Self-Insured Employers
The information on these pages is designed to show the self-insured employer or Third Party Administrator (TPA) information including company names, their dates of self insurance, which company is handling their claims, and contact information. They are updated regularly as we receive new information from the employers.
Find Self-Insured Employers
An alphabetic list of self-insured employers with their contact phone numbers, searchable by the first letter of the employer name.
An alphabetic list of self-insured employers with their contact phone numbers, searchable by the first letter of the employer name.
An alphabetic list of Third Party Administrators with their contact phone numbers.
Delimited self-insured employer list (2000 KB txt / 6 min)
A delimited-formatted list that includes all employer contact information and can be used:
A delimited-formatted list that includes all employer contact information and can be used:
- For data importing, analysis, and for converting files to be printed.
- To highlight specific employer content for copying or printing.
Delimited self-insured TPA list (150 KB txt)
A delimited-formatted list that includes all TPA contact information and can be used:
A delimited-formatted list that includes all TPA contact information and can be used:
- For data importing, analysis, and for converting files to be printed.
- To highlight specific employer content for copying or printing.
Wednesday, September 9, 2015
Find out how to bill L&I - FOR PROVIDERS
Related L&I Topics
Related L&I Topics
Billing & Payment
Billing L&I
Find out how to bill L&I.
ICD-10 & 5010
L&I Readiness for ICD-10 & 5010
Billing Self-Insured Employers
Information about getting paid from a self-insured employer.
Billing federal, tribal, or other insurers
Find out how to file claims and bill the correct entity.
Fee Schedules and Payment Policies (MARFS)
Payment Status
Check the status of a bill, review a schedule of cutoff dates for electronic billing or review a list of warrant dates.
Understanding Your Payment
Find out how to match up a payment with a remittance advice and how you can get remittance advices online.
Tuesday, September 8, 2015
Front Desk Operations
By the Numbers: What to Track
Monitoring and measuring is critical to boosting revenues, said Reed Tinsley,
CPA, a Houston-based healthcare accountant and business adviser. The following
are 10 key practice numbers you should be tracking on a regular basis and
how to recognize signs of problems:
• Gross and net collection percentage
• Accounts receivable: Days in A/R, A/R Ratio, A/R in excess of 90 days
• Collections by payer
• Front-desk collections: The percentage of copayments collected and patients
with A/R balances
• How quickly visits/procedures are billed
• How long it takes to get paid by payers
• Percentage of insurance eligibility verifications vs. total scheduled patients
• Average number of missing charges vs. services rendered (actual and CPT
mistakes)
• Claim denials: Percentage of denials vs. total claims filed and percent of denials
appealed successfully vs. total denials.
• Average days between receipt of payment and payment posted
The following “red flags” might indicate financial problems that require further
investigation, said Tinsley:
• A sudden change in A/R tendencies
• Sudden changes in production by physician
• Escalating overhead costs
• Doctors holding their paychecks
• Not paying vendors on tim
Build a Routine
BUILD A ROUTINE “You need to have appropriate
scripting and training so [validating patient coverage]
becomes second nature for your staff. They should be
verifying patients’ personal and demographic information
every time they come in.”
Quick Revenue Cycle
Quick Revenue Cycle Self-Assessment David D’Silva, chief operating officer for Park Ridge, Ill.-based Healthcare Information Services, recommended using the following checklist to assess your strengths and weaknesses in managing the revenue cycle. Collecting from patients: Do you have an effective process to obtain eligibility and collect copays, deductibles, and prior balances? Critical performance measures: Do you measure the revenue cycle in your practice to include charges, payments, adjustments, A/R aging, charge lag-time, gross collection percent, denial percentage, clean claim rate, and days in A/R? Denial management process: Do you know the top five reasons for insurance denials AND how to correct and prevent them? Optimal coding process: Do you have a coding process that maximizes revenue and compliance? Effective appeals process: Do you have a structured and effective appeals process? Maximize the use of electronic payments: Do your payers pay you via an electronic remittance advice or paper check? Effect of payer changes: Do you understand and forecast the impact that payer changes will have on your reimbursement? Payer contract compliance: Do you know if your payers are paying you according to your contracted reimbursement schedule
Equity in PRS - Dell latitude E5400 Laptop
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Sunday, August 30, 2015
Start Up Talk on Forbes
Why startups should make radical transparency a top priority: http://t.co/5DzqFY7vkc pic.twitter.com/eUBYkYhBQ0
— Fast Company (@FastCompany) August 30, 2015
Friday, August 28, 2015
Job Description for Administration Assistant
Job Description for Administration Assistant
Most companies use administrative assistants to keep their day-to-day operations working smoothly, and these assistants are responsible for a variety of tasks around an office. These duties can range from simple tasks, such as filing, copying, and typing, to more advanced activities such as scheduling meetings, making flight and travel reservations, payroll, insurance, and bill payment.
Most administrative assistants work in an office environment, and they must have a good familiarity with office machines, including computers. Typing is usually an essential duty, and an administrative assistant will be able to type at a rapid pace. Administrative assistants must be able to endure long periods of sitting, as they are usually seated at a desk for much of the day. A good administrative assistant is comfortable learning new skills and adapting to a wide variety of duties. Administrative assistants should be able to lift smaller loads of weight, because they may need to move boxes, files, and stacks of paper around the office. Multitasking and time management are essential skills, as many administrative assistants are required to be working on several projects at once. Some companies may require a college degree, although many times this is not necessary.
Administration Assistant Tasks
- Assist with payroll operations, as needed.
- Type correspondence, compile data for expense and payroll reports.
- Perform basic benefits, retirement plan and human resources activities.
- Answer phones, greet visitors and respond to employee questions and requests.
- Maintain employees' payroll and benefit documentation and electronic files
Administration Assistant Salary (United States)
Administration Assistant Salary
(United States)
Women account for the majority of Administration Assistants in the United States. The entire group has an average salary of $14.66 per hour. Including potential for bonuses and profit sharing — peaking near $3K and $6K, respectively — total cash payment to Administration Assistants can bottom out near $23K or peak near $48K depending on individual performance. Location and career length each impact pay for this group, with the former having the largest influence. Job satisfaction is high and work is enjoyable for most Administration Assistants. Although a majority have medical coverage and slightly more than half have dental coverage, just under one in three claim no health benefits at all. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
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Experience Affects Administration Assistant Salaries
Skills That Affect Administration Assistant Salaries
Contract Management
26%21%
Human Resources
21%
Administration
15%
Payroll Administration
11%
Office Administration
10%
Accounting
4%
Accounts Receivable
3%
Microsoft Excel
2%
Customer Service
2%
Microsoft Office
0%
National Average
$32,000
Microsoft Word
1%
Accounts Payable
1%
Quickbooks
2%
Data Entry
3%Gender
Female
91 % |
Male
9 % |
Years of Experience
|
Common Health Benefits
 | Medical: 68% |  | Dental: 53% |
 | Vision: 41% |  | None: 30% |
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