On Monday, President Trump signed an order to require pricing transparency by healthcare providers. This has the potential to impact every medical practice.

Section 3a impacts hospitals

Section 3b impacts providers, insurers and self-insured health groups

Also noted is the directive to provide additional information to the President on "surprise billing".  This directive will certainly push such legislation and/or directives forward in the near future.

Read President Trump's actual order here.

While there are some who immediately have jumped on the "Nay" bandwagon, there are some positive elements to this concept which may provide a significant stimulus to change the way healthcare is paid for.  This, along with other recent proposed legislation on "Surprise Bill Prohibition" will certainly result in downstream effects on the way healthcare services are priced, billed and collected.

These are developments which all healthcare providers should pay close attention to.

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Confused about the legal and regulatory requirements for overtime pay to employees?  What about hourly employees?  What about salary employees?  

While you may be addressing these items in your business, you want to be sure that you are compliant with the current regulations.  

To learn more about these issues, read this latest article from HRM.

Overtime Exemption Updates

A recent article was published with additional timely information.

Review of this article, in conjunction with the previous posting, is warranted.

Overtime Update  3-11-19  

WhiteCoat Risk Management provides these articles to help improve general risk awareness in all aspects of your life.  It is not responsible for any actions you take or fail to take regarding any aspect of your financial planning or risk management.  This article is provided for information purposes and is not intended to provide individualized advice. You alone are responsible...

What are your requirements in the event of a data breach?

Did you know that if you had a data breach in 2018 that involved less than 500 individuals, you are required to file a report with the federal government prior to March 1, 2019?  

If you had a data breach that impacted over 500 individuals, then a report must be provided to the government at the same time as notification of the impacted people.

It's important to understand these complex regulations because failure to comply can result in a substantial monetary fine.  Moreover, it's important that such reporting (Form available here) is done very carefully to ensure that you accurately report the incident so that your exposure to regulations is minimized.  For that, it's probably best practice to consult with an attorney who is knowledgeable in such reporting.  

The following link is a short article by McDonald Hopkins, a legal firm which is knowledgeable in...