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Michael Russell's Articles in Business

  • The Accounting Officer
    By law every corporation is required to appoint an accounting officer. No person qualifies for appointment unless he or she is a member of a recognised accounting profession. It is advisable not to cut corners when dealing with accounting reports, as this could land the company in some serious trouble if they are not prepared to show a fair representation of the company's financial situation.
  • Medical Billing: To Save Or To Insure
    Senior citizens often use up their retirement money on medical billing as they do not have other sources of income. One way to cover medical billing for senior citizens is to obtain insurance coverage for hospitalization and surgery costs.
  • Medical Billing Troubleshooting Electronic Billing
    One of the most complex problems with medical billing is the electronic transmission of claims. In this installment, we cover just the most common problems in this area.
  • Medical Billing Software Troubleshooting Overview
    In this first installment of medical billing troubleshooting for DME software, we're going to present a brief overview of what problems one can expect to find with their DME software.
  • Medical Billing For Critical Illness
    With current advanced medical technology, people are expected to live longer. However, in the process of seeking treatment, the medical billing leaves them financially ruined. So, to pay for medical billing, critical illness insurance is necessary.
  • Medical Billing - War Of The Worlds
    Sometimes a medical billing company has to battle itself to get anything done. What follows is a true story of a company at war with itself.
  • Medical Billing - User Licenses
    Medical billing companies have to decide how many users they want to pay license fees for. In this installment, we cover the basics of user licenses.
  • Medical Billing - Troubleshooting Retail Sales
    In the land of medical billing, retail sales can be a royal pain. In this installment, we cover some common retail sales problems and solutions.
  • Medical Billing - Troubleshooting Installation
    If you're installing a medical billing software program and it won't run, or worse, won't even install, here are some common things to look at in troubleshooting your system installation.
  • Medical Billing - Troubleshooting Forms Printing
    One of the most common medical billing problems is forms printing. In this installment, we cover the most common problems and how to fix them.
  • Medical Billing - Tips For Large Companies
    Large medical billing companies have large headaches. What follows are some tips for large medical billing companies that will make it easier for them to manage their affairs.
  • Medical Billing - The Weak Links
    They say that the strength of any organization is its weakest link. In the world of medical billing, there are plenty of weak links. We'll take a look at just a few of them.
  • Medical Billing - The Support Tech's Troubles
    If you think programmers have nightmares and QA testers have headaches, come and look at the world of medical billing through the eyes of a support tech. It's not pretty.
  • Medical Billing - The Reality Of Priority
    Nobody wants to talk about it, but medical billing is still a business and because of this, it is still the big claims that get top priority. We take a brief look at this problem that is still in search of a solution.
  • Medical Billing - The QA Tester's Headaches
    If you think programmers have headaches when it comes to medical billing software, they are nothing next to the ones QA testers have. This article takes a look at the kind of headaches a QA tester runs into.
  • Medical Billing - The Programmer's Nightmare
    We take our medical billing software for granted. What we don't realize is the nightmares that programmers go through to get this software to us. What follows is a true account of one of those nightmares.
  • Medical Billing - The Internals Of Software
    Do you wonder how your medical billing software works? This installment is going to give you an introduction to finding out just what goes on behind the scenes of your medical billing software.
  • Medical Billing - The Department Heads
    If you are starting a medical billing company, you're going to need department heads. What follows is a review of who is needed and the role that each person plays.
  • Medical Billing - Software ROI
    Calculating ROI, or return on investment, for medical billing software is a tricky process. What follows is a simplified, but fairly accurate assessment of what's involved in the process.
  • Medical Billing - Software Registration
    In the medical billing industry, a software company must get their software approved for sending claims. In this article, we discuss how this process works.
  • Medical Billing - Report Generator 101
    Most medical billing software packages have a report generator. In this installment, we'll be covering the basics of how the report generator finds data.
  • Medical Billing - Picking Your Software
    If you're starting a medical billing company, one of the first things you'll want to do is pick out some software. This article will give you some basic things to look for and be careful of.
  • Medical Billing - NSF or UB-92
    If you're setting up a medical billing company and you're trying to decide between NSF 3.01 and UB-92 for your electronic claims transmission, the following article should give you some insight into the advantages of each.
  • Medical Billing - Network Issues
    One of the worst things that can happen if you're doing medical billing is for your network to go out on you. In this installment, we discuss some common network problems very briefly.
  • Medical Billing - Many Players, Many Problems
    Many people think medical billing is a nightmare. Well, it is. What most people don't understand though, is why. Hopefully, this article will give you a decent idea of what all the problems are.
  • Medical Billing - Insurance Carrier Perspective
    As patients and medical billing companies, we complain a lot about insurance companies. Hopefully, this installment will give us a bit of perspective of how hard it really is for insurance companies.
  • Medical Billing - How It All Comes Together
    Medical billing can get very complicated. What you're about to read is a true story of just how complicated it can get and how it all comes together.
  • Medical Billing - How Is The Job Market?
    If you're thinking of getting into the medical billing field, you'll probably want to know what your chances are of getting a job. What you're about to read is a general idea of how easy or hard it will be to find work in the various medical billing fields.
  • Medical Billing - How Bad Are Things Really?
    We all complain of medical billing costs. But how bad are things really? What follows is a look at just some of the problems in the industry.
  • Medical Billing - Hiring A Support Person
    If you are starting a medical billing software company, you want to be very careful when hiring a support person. Some very special skills are required. What follows are some of the main ones.
  • Medical Billing - Hiring A Staff
    If you're thinking of starting a medical billing company, you'll need to hire a billing staff. What follows are some tips in just what to look for in a medical biller.
  • Medical Billing - Hiring A QA Tester
    Medical billing companies can't rely on programmers alone. They will also need QA testers to test the software. What follows are a few things to look for in a QA tester.
  • Medical Billing - Hiring A Programmer
    If you're a medical billing company just starting out, you're going to need to hire programmers. What follows is a guide to what you should look for in a programmer.
  • Medical Billing - HCPCS Updates
    Are you into medical billing? Wonder what HCPCS stands for? In this installment we're going to discuss the basics of HCPCS including what they are, what they're used for and what problems you may run into when doing an update.
  • Medical Billing - HA0 Record
    In this installment of medical billing, we will be covering the HA0 record, which is extra narrative information. We will explain what it is for and why it is so important.
  • Medical Billing - GX2 Record
    We have finally reached the end of our installments on medical billing of oxygen claims and the CMNs that go with this billing. In this review we cover the GX2 record, which is facility information.
  • Medical Billing - GX1 Record
    If you thought you were done with the oxygen billing part of medical billing, you'll need to take a second look. After the GX0 record, comes its little brother and royal pain in the neck, the GX1 record. More claims get denied because of this seven field record than any other record its size. Keep reading to find out why and other important details.
  • Medical Billing - GX0 Record Fields 28 Through 37
    This is the final installment in our medical billing series on the GX0 record and oxygen billing. This installment covers fields 28 through 37. There is a special note tied into GX1, which will be covered in our next installment.
  • Medical Billing - GX0 Record Fields 24 Through 27
    Are you into medical billing? Do you have to bill oxygen claims? No clue what ABG means? Well, in this installment, we cover the GX0 record, fields 24 through 27.
  • Medical Billing - GX0 Record Fields 20 Through 23
    If you've been following our medical billing series on the GX0 record, the complicated stuff is around the corner. In this installment we cover fields 20 through 23.
  • Medical Billing - GU0 Record Fields 8 Through 17
    Medical billing of claims can be a real nightmare, which explains the high turnover among billers. In this installment, we cover the GU0 record, fields 8 through 17.
  • Medical Billing - GU0 Record Fields 59 Through 61
    In this medical billing installment, we're starting to see light at the end of the tunnel, as we are now about 80% of the way done with our review of the GU0 record. In this segment we review fields 59 through 61.
  • Medical Billing - GU0 Record Fields 54 Through 58
    In this installment of medical billing, we continue through our maze we call the GU0 record, or CMN. We pick up our discussion with field number 54.
  • Medical Billing - GU0 Record Fields 46 Through 53
    If it seems that the GU0 record for medical billing has no end to it, you're not far off. But we're coming around the bend to the finish in good time. This installment begins with field number 46.
  • Medical Billing - GU0 Record Fields 38 Through 45
    Medical billing is sometimes like playing a game of battleship where you blindly plug in pegs to find your opponents ship. CMNs like the GU0 record, with its insane mapping scheme only make matters worse. In this installment we continue with our review of the GU0 record.
  • Medical Billing - GU0 Record Fields 31 Through 37
    In our previous installment on medical billing, we began our review of the most complicated fields to understand on the GU0 record. In this installment we pick up with field number 31.
  • Medical Billing - GU0 Record Fields 26 Through 30
    We're about to enter the area of medical billing that is like walking through a maze. In this installment we'll cover the GU0 record, fields 26 through 30.
  • Medical Billing - GU0 Record Fields 18 Through 25
    The GU0 record is one of the longest in electronic claims submission when doing medical billing. In this installment, we cover the GU0 record, fields 18 through 25.
  • Medical Billing - GU0 Record Fields 1 Through 7
    Medical billing is a complex process. Having a CMN like the GU0 record only makes it worse. This longest of all CMNs is our topic of discussion for this and the next several installments of electronic billing of medical claims.
  • Medical Billing - GP0 Record Fields 8 Through 14
    When doing medical billing, the enteral and parental CMNs are nearly identical. The main difference is the methods of feeding. In this installment, we cover the GP0 record, fields 8 through 14.
  • Medical Billing - GP0 Record Fields 22 Through 33
    This is our last installment on medical billing and the review of the parental nutrition CMN, or GP0 record. In this article, we'll review fields 22 through 33.
  • Medical Billing - GP0 Record Fields 15 Through 21
    In the world of medical billing, parental nutrition claims can get very complicated with all the calculations involved. This article covers the parental CMN, or GP0 record, picking up with field number 15.
  • Medical Billing - GP0 Record Fields 1 Through 7
    In this installment of medical billing, we'll be covering parental nutrition and the CMN that goes with it. We'll also give a brief explanation of the difference between parental and enteral nutrition.
  • Medical Billing - Getting Clients
    You've just setup your medical billing company and now you need to get clients. The following article will give you more than enough ways to build up your client base.
  • Medical Billing - GE0 Record Fields 9 Through 14
    Medical billing and enteral nutrition are a fairly new combination. Enteral billing is tricky and the CMN must be filled out precisely. In this installment we review the GE0 record, fields 9 through 14.
  • Medical Billing - GE0 Record Fields 21 Through 30
    In our final installment of medical billing and the GE0 record for electronic claims submissions, we cover fields 21 through 30. This includes a note on multiple product billing.
  • Medical Billing - GE0 Record Fields 15 Through 20
    Medical billing of enteral claims is a complex process. Many calculations must be done to accurately do this. In this installment covering the GE0 CMN, we cover fields 15 through 20.
  • Medical Billing - GE0 Record Fields 1 Through 8
    In the world of medical billing, the GE0 record, or enteral CMN, is used to bill for enteral nutrition claims. This installment covers the GE0 record, fields 1 through 8.
  • Medical Billing - Enteral Nutrition Billing
    Years ago, when doing medical billing, the term enteral nutrition didn't even exist. Today it is big business. This article gives a brief overview of how enteral billing got to be so big and why.
  • Medical Billing - Electronic Or Paper Claims
    To many, it would seem that using electronic claims transmission for your medical billing needs, is the obvious choice. We're going to take a detailed look at some of the facts between paper claims and electronic transmission.
  • Medical Billing - DME Software Security
    Because of the HIPAA rules for patient privacy, medical billing has a lot of restrictions that require a great amount of security. In this installment we'll cover how that security is handled.
  • Medical Billing - DME Software Overview
    DME billing is one of the biggest parts of the medical billing profession. This series of articles, beginning with this overview, will focus on the complex software used to bill DME claims.
  • Medical Billing - DME Software Lookup Tables
    If you're doing medical billing, the importance of lookup tables cannot be stressed enough. In this installment, we explain how lookup tables work and why they are important.
  • Medical Billing - DME Software Item Inventory
    If you're doing medical billing and you don't know what's in your inventory, you're pretty much dead in the water. In this installment of medical billing and the DME software, we're going to discuss the importance of item inventory tables.
  • Medical Billing - DME Software Install Options
    In this installment of medical billing and DME software, we're going to briefly cover the various things that can be controlled in installation options. This includes everything from security to what network the software runs on.
  • Medical Billing - DME Software Biller Setup
    When doing medical billing, it is important that the billers themselves be setup so that the billing process goes without a hitch. We'll cover the basic things needed for this to happen.
  • Medical Billing - Distributing Duties
    If you're going to setup and run a medical billing company, the main thing you need to do is distribute the duties. This review will cover the basics of what should be done when dividing up the various tasks.
  • Medical Billing - Data Problems
    Most of the work that is done in a medical billing program is data entry. As a result, the first area where you will have problems is with your database. We discuss some of the more common problems in this review.
  • Medical Billing - Customized Reports
    If you are running a medical billing company, having reports to show you how profitable your business is ranks up at the top of the list of things to have. We'll take a look at one of the features of high end software which is customized reports.
  • Medical Billing - Common On The Job Problems
    If you are thinking of getting into the medical billing industry, you might want to read about some common on the job problems you are bound to run into. Doing so may just save your life.
  • Medical Billing - Choosing A Carrier
    When you start a medical billing company, one of the things you'll need to decide is what insurance carriers to bill. This article will give you the pros and cons of each kind.
  • Medical Billing - Billing The Wrong Item
    You're in the medical billing field and the unthinkable happens. You've billed for the wrong item. What follows is a fictional account of what can happen and what you should do to avoid disaster.
  • Medical Billing - Billing The Wrong Carrier
    When doing medical billing, you'd think that it's impossible to bill the wrong carrier. This true story tells us that anything is possible. Enjoy a good laugh at a serious problem.
  • Medical Billing - Advanced Report Generation
    Generating medical billing reports is critical to any software package. In this review, we cover some advanced report generation techniques.
  • Joint Venture Principles And Practices
    It is obvious from the discussions of the different forms of undertaking that business people often combine their, physical, accounting (finance) and entrepreneurial ability in order to conduct business. In continuing operations, this results in the formation of (permanent) partnerships, close corporations and companies.
  • Influence Of Changing Prices On Accounting
    The historical cost principle stipulates that the price actually paid for assets and operating expenses must be brought into account in the accounting process. The price of an item is the amount asked or paid for it.
  • Incorporation: Venture Capital Funding
    High growth incorporation tends to choose venture capital funding to hasten the next growth phase. These corporations require large outlays of capital. Venture capitalists normally take an ownership stake, to share in the corporation's business risk and profits.
  • Incorporation: An IPO
    For a growing incorporation with increasing profitability and productivity, an Initial Public Offering (IPO) is the next logical step to take in order to obtain further financing. Through a public listing, a fast-developing corporation can tap funds from the capital market for business expansion activities.
  • Incomplete Accounting Records
    The essence of the double entry accounting system is the analysis of each transaction in terms of the basic accounting equation: assets = liabilities + owner's equity. Many smaller undertakings and organisations maintain only minimal accounting records and do not have a system whereby transactions may be analysed and recorded within the framework of the double entry system, often referred to as a single entry accounting system.
  • Centralised And Decentralised Books
    In a centralised system the accounting records are maintained completely by head office and supporting documentation is sent to head office by the branches. In a decentralised accounting system, transactions between head office and the branch are recorded in the books of both.
  • Business Plan Basics - Part 2
    Aside from executive summary, mission and vision statements, company description, products and services which is public information, a business plan should also include internal business aspects: industry analysis, target market, marketing and sales, competitive analysis, operational and financial plans.
  • Business Plan Basics - Part 1
    A summary of business plan basics you need to consider and incorporate into your plan: executive summary, mission and vision statements, company description, products and services.
  • Brainwriting, A More Perfect Brainstorm
    Brainwriting is a variation of brainstorming where you write down your ideas rather than speak them out in a meeting. Often in a meeting people will feel inhibited or otherwise afraid to express radical or unpopular creative ideas. Brainwriting effectively overcomes this barrier.
  • Brainstorming To Create New Ideas
    Brainstorming is a well tested method for generating ideas. Originally intended for groups, brainstorming can also be practiced alone. Read about how you can use brainstorming to solve problems.
  • Architect Client Relationships
    An architect's creative vision and aesthetics are often at odds with the client's budget and functional needs. Good architects learn to listen carefully to what the client has to say, temper their own egos and artistic vision and balance both sides of the equation.
  • Accounting Responsibilities Of Branches
    An entrepreneur may expand and diversify his business by opening branches that are geographically separated from the central enterprise. Branches function independently, but remain part of the central organisation. The concept branch implies that there is a central organisation with a head office.
  • Accounting In Non-Profit Organisations
    A non-profit organisation can be defined in accounting terms as an economic entity that, without gain, provides a service to the community and has an equity interest that cannot be sold. This does not imply that such an organisation cannot budget for and indeed realise, a net income for any financial year.
  • Accounting In Manufacturing And Trading Concerns
    A trading enterprise buys and sells manufactured goods. A manufacturing enterprise, in contrast, buys and processes material and then sells the resulting manufactured products.
  • Accounting And The Consignor
    A consignment is made when a principal forwards goods to an agent who will sell them on his behalf. The dealer does not sell the goods to the agent, nor does the agent buy the goods from the dealer.
  • Accounting and Planning for a Tax Audit
    How to plan for a tax audit and accounting practices for employee benefits, mandatory deductions and contributions to the proper taxing agencies, workers' classifications and income you reported.
  • Accounting - Net Operating Losses
    Does your casualty loss qualify as a net operating loss? A net operating loss can result in a prompt refund or a tentative adjustment for that tax year, but small errors could cause your claim to be delayed or even denied.
  • Accounting - A Practical Definition
    A simple definition for accounting may be acceptable to an individual. That accounting definition however may not be as clear with regard to an ongoing business enterprise.

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