You are here: Home / Archives for silkin management group

SILKIN MANAGEMENT GROUP: More on the Debt Ceiling Debate

July 22, 2011 By Leave a Comment
silkin management group

In yesterday’s Silkin Management Group blog, one of my fellow Silkin Management Group consultants wrote about the debate going on regarding raising the debt ceiling for the federal government. (You can access that article at this Silkin Management Group blog site: http://blog.silkinmanagementgroup.com/)

After reading the above mentioned blog, something caught my eye while reading a report concerning what is going on in Washington regarding this whole issue. I thought I’d pass it along to readers of our various Silkin Management Group blog sites.  It concerns a statement made by Congressman Ron Paul of Texas, made while questioning Ben Bernake, the chairman of the Federal Reserve.  Whether you think well of Congressman Paul or not, his statement is food for thought:

“Perhaps the most abhorrent bit of chicanery has been the threat that if a deal is not reached to increase the debt by August 2nd, social security checks may not go out.  In reality, the Chief Actuary of Social Security confirmed last week that current Social Security tax receipts are more than enough to cover current outlays.  The only reason those checks would not go out would be if the administration decided to spend those designated funds elsewhere.  It is very telling that the administration would rather frighten seniors dependent on social security checks than alarm their big banking friends, who have already received $5.3 trillion in bailouts, stimulus and quantitative easing.  This instance of trying to blackmail Congress into tax increases by threatening social security demonstrates how scary it is to be completely dependent on government promises and why many young people today would jump at the chance to opt out of Social Security al together.

I have always found it interesting, from a financial planning point of view, that the government takes our social security money and puts it in the general funds and spends it on anything it chooses to, like wars, rather than setting it aside for what it was designated for – paying Social Security benefits.  Yes, the amount of money coming in for many years exceeded the outgo due to the age discrepancies of payers and payees, but had the excess money not been spent elsewhere, there would be no looming lack of Social Security funds to deal with.  And Mr. Paul makes it a point that Social Security income can still pay for the present benefits payments, as long as the money isn’t taken for other uses.

Whatever your take on all of this is, whether you like Congressman Paul or not, I thought that readers of our blog sites, whether Silkin Management Group clients or not, would be interested in this debate from a financial planning point of view.

Dave McKevitt

Silkin Management Group Consultant

If you would like more information about Silkin Management Group and/or Silkin Management Group’s services, visit our website at www.silkinmanagementgroup.com



Filed Under: Economy Tagged With: , , ,

SILKIN MANAGEMENT GROUP: A LITTLE BIT OF HELP FROM THE IRS

July 11, 2011 By Leave a Comment
silkin management group

Silkin Management Group clients are all small businesses, primarily single practice owners in the health care field. Therefore we try to keep our clients apprised of any help provided by our government in terms of cost savings.  In past Silkin Management Group blogs we discussed a variety of matters that affect the cost of doing business including frequent updates on the implementation of the new health care legislation and its potential costs to small businesses.

We recently ran across a new IRS ruling that we thought we’d pass along to readers of our Silkin Management Group blog sites, whether Silkin clients or not.

The IRS recently announced a change in the rate of reimbursement for business mileage from 51 cents per mile to 55.5 cents.  This is for the period July 1, 2011 to December 31, 2011.  Given the frequency of small business owners driving their vehicles for business use, this increase in write-off will offer a nice savings.

Normally the IRS updates its mileage rates on a yearly basis, but given the recent increase in gas prices, they decided to do a mid-year change.  This is advantageous to any business owner who uses their vehicle for business purposes. Silkin Management Group clients who, for example, are mobile veterinarians, will find this additional write-off helpful.

At the same time, any employer who reimburses their employees for business mileage will have to reimburse at this new, higher rate.

Be aware too that, if you are audited by the IRS, they will require good records of your business miles usage.

Bill Hickey

Silkin Management Group Consultant

You can find out more about Silkin Management Group by visiting our website at www.silkinmanagementgroup.com



Filed Under: silkin management group Tagged With: , , ,

SILKIN MANAGEMENT GROUP: JOB DUTIES OF A PRACTICE OWNER

June 29, 2011 By Leave a Comment
silkin management group

Part 2

In yesterday’s Silkin Management Group blog (which you can access at this Silkin Management Group blog site: Part 1) we began a discussion of a job description for the owner of a health care practice. Job descriptions are a vital part of the effective management of any practice or business, but the owner’s job description is often overlooked. Clients new to Silkin Management Group are aided by their consultant to implement job descriptions throughout the office including what the duties and responsibilities of the owner should be.

In today’s article we’ll list out some essential duties of a practice owner. These duties go along with the “purpose, product and statistics” of an owner, as presented in the above referenced blog.  These duties, as well as job descriptions for every position in a dental, veterinarian or optometric practice can be found in Silkin Management Group’s 400 plus page Job Description and Office Policy Manual.

Job Duties The Practice Owner

General

  • Establish the Mission Statement for the practice and communicate it to the staff. Make sure the staff understand it and are all “on board” with it.
  • Set the overall goals for the practice and communicate them frequently to the staff.  Ensure that the goals are achieved through proper practice management.
  • Lead the staff actively with direction and purpose by setting a high standard for ethical and professional conduct at all times.
  • See to it that the form of the organization is held in place by not allowing others to unnecessarily cross the line and do other’s jobs.
  • Maintain a “business-oriented” viewpoint so that decisions are based on what is best for the practice and not on emotions or opinions.
  • Don’t keep staff around who are non-productive and/or don’t care about the business.
  • Ensure that all legal matters concerning every aspect of the business are properly confronted and handled.  This would include all employment issues, proper contracts in place, proper licensing, etc.
  • Regularly review the various statistics that measure the productivity of the office and act accordingly.

In our next several Silkin Management Group blogs we’ll cover some additional areas of an owner’s job duties. .

For more information about Silkin Management Group and/or our Office Policy and Job Description Manual visit our website at www.silkinmanagementgroup.com and/or call us at 800-695-0257.

Jack Hennessy

Silkin Management Group Consultant



Filed Under: silkin management group Tagged With: , , , ,

SILKIN MANAGEMENT GROUP: SOME ALTERNATIVE IDEAS ON HEALTH CARE COVERAGE

June 7, 2011 By Leave a Comment
silkin management group

Silkin Management Group has, over the last two days, presented some articles on the
legal battles going on with the Obama-care health care legislation. A major appellate
oral argument will occur on Wednesday, June 8, and the outcome of that appeal will have significant ramifications on the implementation of this legislation. You can read our latest article concerning this by linking to this Silkin Management Group blog site: Update on Obama-Care Legal Appeals Part 2.

Given that Silkin Management Group clients are all small businesses which are very
directly affected by this legislation, we thought we’d offer up some alternative thoughts
that any small business, whether a Silkin Management Group client or not, might use
when this legislation starts taking effect in a serious way.

With health care premiums expected to increase by eight to ten percent again next near, controlling health care costs is essential. Also, unless the legislation is overturned through the legal battles going on, in 2014 any business with 50 or more employees will be required to offer health insurance or pay a per-employee tax. Therefore, if you are a small business, here are some alternative ideas you might look at in order to control this cost.

Maintain your employee count below 50 people on your payroll. If you do this
you will not be required to offer health insurance and will have no tax penalties if
you do not offer health insurance for your employees.

Use higher deductible plans. Not only do you save money, you will put your
employee’s attention and emphasis on the cost of their health care and, hopefully,
maintaining a healthy life style since more money will be coming out of their
pocket.

Use a health care insurance consultant, somebody who is very familiar with all
aspects of the legislation and all of the insurance products in the marketplace
that people can use to comply with the legislation. It is very difficult for any
employer or employee to have adequate knowledge on this subject and make the
best choices out of the myriad of possibilities available. Hiring a professional,
likely at no cost as they should get paid through commissions, will help guide you
through this morass of potential confusion.

Have a “wellness education” program for your employees – there are many
of these available for businesses. Studies have shown that the more people
understand what they should do to maintain good health, the lower their health
care costs will be.

The above are just a few ideas that any employer can use to attempt to control their health care costs with the implementation of the Obama-care legislation. We’ll present any more ideas we come across on this subject on our various Silkin Management Group blog sites.

Dave McKevitt
Silkin Management Group Consultant

For more information about Silkin Management Group and our practice management
program, visit our website at www.silkinmanagementgroup.com



Filed Under: silkin management group Tagged With: , , ,

SILKIN MANAGEMENT GROUP: HIRING MISTAKES

May 17, 2011 By Leave a Comment
silkin management group

Silkin Management Group clients are often involved in hiring new staff due to expansion and/or replacing staff that were incorrectly hired previously.  Although there is no exact science to hiring, there are definitely very specific things that Silkin Management Group consultants teach our clients that greatly raise the odds of hiring the right person.

Along these lines I recently read an article on 4 key hiring mistakes that I thought would be interesting to Silkin Management Group clients and anyone else reading our various Silkin Management Group blogs. You can link to this article here: http://www.openforum.com/idea-hub/topics/managing/article/4-hiring-mistakes-and-how-to-prevent-them?cid=em-smartbrief

I thought I would go over the 4 mistakes that the author covers and comment how Silkin Management Group approaches these mistakes so you can compare what we do to what the author discusses.

  1. Relying solely on interviews to pick candidates: We have a group interview system that quickly eliminates the less desirable prospects and leaves you only with the best potential employees.  Those prospects are then tested prior to any interview as a further weeding out process. We have 3 tests that we use.  Also, what questions you ask in an interview are key and can cut through some of the “PR” or “putting on a good face” that normally will occur in such an interview.

  1. Assuming superstars are good models: Your best producers likely have two things in common – they are usually “glass half full” people – more of a positive attitude than a negative attitude, and they are well trained for their job.  You can raise competency and attitude tremendously with a good staff training program, something that we teach and provide to Silkin Management Group clients.
  1. Assuming you know what skills are required: You should know what skills are required for any job, but that doesn’t mean that you can’t train a good potential person for the job if they are lacking some of the needed skills.  Testing helps determine certain traits that are applicable to certain jobs. The tests that we use at Silkin Management Group give you a decent idea of where a person might fit or not fit.  For example a person who is not an extrovert wouldn’t be a great candidate for a receptionist at a busy medical office, but could be fine for handling insurance billing.
  1. Failing to do a careful background check: I agree with what the author says about this subject.  Always do a good background check before hiring.

Silkin Management Group consultants work closely with their clients on hiring good staff and, through the various systems we put in place, most clients greatly increase their odds of finding and hiring the best possible candidates.  If you’d like more information about how Silkin Management Group can help you with hiring and training staff, visit our website at www.silkinmanagementgroup.com

CONSULTANT NAME

Consultant for Silkin Management Group



Filed Under: Uncategorized Tagged With: , ,

SILKIN MANAGEMENT GROUP: CHANGE IN PAYROLL STATUS SAMPLE POLICY

April 29, 2011 By Leave a Comment
silkin management group

In yesterday’s Silkin Management Group blog, and as part of our series on sample office policies, we presented a sample policy concerning payroll deductions. This is a policy all new staff should read when hired. You can link to that Silkin Management Group blog site here: Payroll Deductions Sample Policy

Today, as a follow up to that policy, you’ll find below a sample policy concerning changes in tax/W-4 status that all staff should be aware of. This policy can be found in Silkin Management Group’s 400 plus page Office Policy and Job Description Manual which is something all clients new to Silkin Management Group receive.

CHANGE IN PAYROLL STATUS – SAMPLE POLICY

An employee must file an amended Form W-4 reducing their number of exemptions within ten days after:

  • The spouse for whom the employee had been claiming an exemption is divorced or legally separated or claims his/her own exemption on a separate certificate.
  • The support of a dependent for whom the employee claimed exemptions is taken over by someone else or no longer furnishes more than half the support for the year.
  • The employee finds the income of a dependent relative is less than the legally allowable amount for the year, and the employee had not previously claimed an exemption for the dependent.
  • The employee or his/her spouse will reach age 65 on or before January 1 of the next year.
  • The employee of his/her spouse becomes blind.

Note:  The employer is required to submit the W-4 Form to the IRS for review if the employee:

  • Is claiming 10 or more exemptions, or
  • Is claiming total exemption from withholding and earns more than $200 per week, or
  • The employer believes an employee has claimed an excessive number of dependents.

As we recommend to all Silkin Management Group clients, do not implement this policy without first checking with your accountant that all the items mentioned in this policy are correct and valid per the latest IRS regulations.  IRS regulations change with such frequency that it is imperative that you get professional advice before implementing any policy that can be affected by their rules and regulations.

For more information about Silkin Management Group, visit our website at www.silkinmanagementgroup.com or call us at 800-695-0257.

Gary Crawshaw

Silkin Management Group Consultant



Filed Under: silkin management group Tagged With: , , , ,

SILKIN MANAGEMENT GROUP: MORE POLICY ON HOURS WORKED

April 13, 2011 By Leave a Comment
silkin management group

In yesterday’s Silkin Management Group blog we went over a sample policy that one could use on the subject of keeping track of hours worked. You can access this article at the following Silkin Management Group blog site: Sample Policy on Keeping Track of Hours Worked. This policy is one of many that Silkin Management Group consultants help institute into the offices of new clients. These policies come from Silkin Management Group’s 400 plus page Office Policy and Job Description Manual.

Today’s example policy is one that could be used as part of the above referenced sample presented in yesterday’s Silkin Management Group blog. It covers additional information concerning policies on hours worked.

More Policy on Keeping Track of Time Worked – Sample

  • How is “Time Worked” Defined?  All elapsed time, from the moment you actually begin your duties until the end of the work day, except for time spent at lunch or dinner, is time worked. Arriving early, leaving late, or preliminary time spent in grooming, changing clothes or attending to personal matters – none of these activities is considered time worked. It’s when you actually start work. Remember that you need to get permission to work overtime if you start work early or work late. If you don’t have such permission you may have to adjust your hours for another day during the week to balance it out. Always let the Office Manager or Doctor know when this occurs so that any possible overtime can be handled in advance.
  • Compensatory Time Off:  Non-exempt employees are entitled to overtime pay whenever they perform overtime work. Employees may not take time off in lieu of receiving overtime pay.  Please don’t ask to make up time missed if it will result in overtime. Any time off during normally scheduled work hours will be without pay.
  • Exchanging Hours With Another Employee: Staff members may exchange hours with another employee, providing they have prior authorization and that the exchange involves no overtime for either employee.

For more information about Silkin Management Group’s services and/or Silkin Management Group’s Office Policy and Job Description Manual, contact us at 800-695-0257 or visit our website at www.silkinmanagementgroup.com

Bill Hickey

Silkin Management Group Consultant



Filed Under: silkin management group Tagged With: , , , ,

SILKIN MANAGEMENT GROUP: POLICY ON SICK LEAVE

April 5, 2011 By Leave a Comment
silkin management group

Silkin Management Group knows that its clients receive very little practice management education during their professional schooling. Unfortunately the “school of hard knocks” starts teaching them a key lesson once they have their own practice – the lesson that their practice is, in fact, a business to be run requiring basic management skills. And that’s what Silkin Management Group’s business is all about. We provide practice management training and consulting for those doctors lacking this education.

One of the first areas that Silkin Management Group consultants tackle with their clients is office policy due to its importance in the smooth running of any office. Without policy any business will be chaotic as there are no basic known agreements for staff to operate on.

Over the last week we’ve presented various sample policies that can be adapted for use in your office. You can link to yesterday’s Silkin Management Group blog here: Sample Continuing Education Policy. Today we’ll present a sample policy on sick leave.

SAMPLE POLICY ON SICK LEAVE

Sick leave is intended to protect staff against undue financial loss in the event of an illness of one or more days duration. Sick leave may not be used for absences other than a personal illness. Personal emergencies may qualify for sick leave if approved by management.

Upon completion of the orientation and training period regular full-time and specified regular part-time staff members earn time off for sick leave for each month worked. Regular full-time staff earn 6 days of paid sick leave within a consecutive 12 month period. Eligible regular part-time staff receive sick time relative to the number of hours worked by regular full-time staff. (i.e. an eligible part time staff member working 20 hours a week would receive half the amount of sick leave of a full-time staff member working 40 hours a week.)

Sick pay benefits will be paid for the times you normally would be scheduled to work. To be eligible for sick leave benefits you must contact the office no later than one hour prior to the scheduled work period if you are unable to report to work. Failure to give advanced notice may void the claim for benefits. During absence because of sickness you are expected to keep in touch with the office on a daily basis and let us know your progress and prediction on when you’ll be back to work.

For more information on Silkin Management Group and/or Silkin Management Group’s Office Policy and Job Description Manual, contact us at 800-695-0257 or visit our website at www.silkinmanagementgroup.com

Jack Hennessy

Silkin Management Group Consultant



Filed Under: silkin management group Tagged With: , , ,

SILKIN MANAGEMENT GROUP: VACATION POLICY

March 28, 2011 By Leave a Comment
silkin management group

Silkin Management Group, with clients throughout the United States and Canada, trains its clients on the basics of practice management. Very few doctors receive any significant education during professional school on the business side of running a practice. But, soon after starting or buying a practice, they all come to realize that their professional education doesn’t cover a lot of what they have to do on a day to day basis to keep their practice growing and viable. That’s where Silkin Management Group helps out – by providing practice management training and consulting for those doctors uneducated in this area.

One of the key areas that Silkin Management Group consultants help our clients with is office policy. Today we’ll present some ideas on what you can include in an office policy having to do with vacations.  This information can also be found in Silkin Management Group’s 400 page Office Policy and Job Description Manual which can easily be edited for any office.

Sample Policy on Vacation Benefits

Regular full-time staff and specified regular part-time staff get an annual paid vacation.  The length of your vacation is based on the length of your continuous service with the office.

Length of Continuous Service

Less than 90 Days:   0 vacation days

After 1 year:               5 vacation days

After 2 years:                         10 vacation days

Vacation pay for full and specified part-time staff members is at the regular pay rate.

Vacation benefits accrue on a monthly basis.  However, since vacation time is earned in 12 month increments, staff members are not eligible to take vacation time off for time worked in less than a 12 month period.

New employees begin to earn vacation pay at the end of the orientation and training period. Upon completion of this phase, eligible new employees will receive vacation benefits retroactive to the date of employment. If employment is terminated for any reason after completing the orientation and training period, the employee is entitled to payment of prorated vacation benefits earned and accrued, retroactive to the date of employment.

For more information on Silkin Management Group and/or its Office Policy and Job Description Manual, contact us at 800-695-0257 or visit our website at www.silkinmanagementgroup.com.

Eric Korb

Silkin Management Group Consultant



Filed Under: silkin management group, Uncategorized Tagged With: , , , ,

SILKIN MANAGEMENT GROUP: DEALING WITH EMPLOYEES

March 18, 2011 By Leave a Comment
silkin management group

Silkin Management Group has been delivering practice management training and consulting to the health care field for nearly 30 years. Very few of our clients received any effective training in running any sort of business during their professional training. Thus, Silkin Management Group consultants are continually working with clients on various aspects of practice management.

Probably the area that Silkin Management Group clients need and want the most help with is dealing with employees, including the legal issues involved with employee management. Below you will find an article written by an employment attorney that Silkin Management Group has referred many clients to with great success. I thought this article was very informative and therefore wanted to pass it along to any readers of our Silkin Management Group blogs.

For more information about Silkin Management Group and how we can help you with practice management, visit our website at www.silkinmanagementgroup.com

Gary Crawshaw

Consultant for Silkin Management Group

TEDDY ROOSEVELT AND PERSONNEL MANAGEMENT

Then-New York Governor Teddy Roosevelt probably summed up politics, diplomacy, and personnel management with his line: “Speak softly and carry a big stick; you will go far.”  Some suggestions:

● Management is Part of the Solution, Not the Problem – In the face of reported misconduct, a personnel manager should always proceed in a manner in which he or she could take pride later.  It is possible the report is false, misleading, or otherwise in error.  Investigation should be fair and forthright.  Unless, it’s a matter of some overt, observed threat to safety, the accused should have the opportunity to respond fully to any accusation before a decision is made on consequences.

● Document, Document, Document: Document.

● Policies Should Allow Discretion on Discipline – Employment contracts and workplace policies that strictly define the procedures that must be followed and the consequences that must result from specific offenses are too restrictive for anyone’s good.  While policy should supply standards of conduct and rules for reporting, investigation and handling of misconduct, policy should also provide management the discretion to deal fairly with situations on a case-by-case basis.

For example, a company policy that promises only a warning for any first offense may be a problem when an employee’s first misbehavior is embezzlement or violence against another worker.

● Consistent Handling of Reported Misconduct – Managers should strive to deal with similar situations similarly.  If there are reasons why one employee received a harsher consequence than another for a similar offense, the reasons should be documented.  See Document, Document, Document: Document section above.

Workplace discipline is never fun.  It is even less so when management badly handles a matter, either too softly or too harshly.  When in doubt, reach out.

From The Law Offices of Timothy Bowles

Pasadena, CA

626-583-6600  info@TBowlesLaw.com



Filed Under: silkin management group, Uncategorized Tagged With: , ,
« Older Posts