Debra Oselett – Tips for Operating Your Own Business

Debra Oselett is currently serving as a practice administrator for a medical office in Michigan. Before she began working in the position in 2008, she operated her own company in the accounting industry called Balanced Pennies. Operating her own business gave her the experience she needed in her current position. Here are some tips for business owners.

Start with a solid plan. All new businesses need a plan of attack in order to be successful. Most business owners will find that they don’t have enough capital to get their company up and running on their own, which means they will need to attract investors and earn loans from the bank. You’ll need to show both investors and banks that you have a plan for the future that is viable for your business.

Make the customer priority number one. If you want to operate a successful business, you have to be thinking about the client, no matter the industry you operate in. Do your research regularly, even after your business is up and running, in order to stay ahead of market changes that impact customer wants and needs. You also need to put a good amount of time into developing a customer service strategy.

Think about the future. Every successful business owner has a plan to grow, which means developing products, looking for larger office spaces, or even diversifying your product inventory. The more research you do on your industry, customers, and market, the more equipped you’ll be for growth.

Debra Oselett understands the process of starting and operating a successful business in a competitive industry.

Debra Oselett – Useful Tips for Professional Leaders or Managers

Debra Oselett is a dedicated individual with the drive to succeed no matter the endeavor placed before her. She is currently serving as a practice administrator for a medical office, which is a position she has held for almost a decade. She is responsible for many of the daily administrative duties that go along with running a medical office, including developing and implementing important policies. Before starting the position in 2008, she operated her own business called Balanced Pennies, which offered full accounting services to small businesses. She understands what it takes to manage an office, and what it takes to lead others down the path toward professional success.

Debra Oselett understands the difficulties that come with being in a leadership or management position in the work place. She has over twenty years of management experience, and she knows how to enhance performance amongst her employees. In her current position, she oversees and coordinates a staff consisting of forty members on daily basis, along with other management duties as well. Here are some useful tips for other professional leaders.

In order to be a successful leader, you have to learn to manage with understanding. As a manager, your employees will have to come to you with both good and bad news, which means you need to be approachable in order to get updates fast. Unfortunately, bad news can be the most important information you receive during the day because the faster you get to it, the faster you can fix it. Don’t get overly upset when mistakes are made; take the opportunity to learn.

Successful leaders and managers will also be able to adequately provide incentives for better work. This requires that you figure out what your employees want, or how best to motivate them to do perform their jobs at a higher level. Often, managers don’t have the ability to raise employee wages, but they do have the opportunity to provide other ways to compensate people for the amount of work they put into a task.

Lastly, a successful manager will be able to display trust in their employees. As any professional in a leadership position already knows, trust is the key to motivation; if your employees don’t feel trusted, their motivation will be lacking and work productivity will suffer as a result. Be careful not to micromanage your employees as they complete daily tasks, but always be available to answer questions or offer guidance when it’s called for. There is a fine line between managing and micromanaging, which often depends on your employees and how they work best.

Debra Oselett, as a practice administrator, understands the value of strong leadership without being too overbearing. She strives to find the balance between solid management practices, but allowing her employees space to complete their tasks on their own.

Debra Oselett – Management Tips for Professionals in Any Field

Debra Oselett is a dedicated individual with the drive to succeed through her career, and help people in the process. She is currently serving as a practice administrator, or medical administrator, for an office consisting of forty staff members. She has been working in the position since 2008, when she sold her accounting company called Balanced Pennies. She started the company in 1998, and it gave her the experience she would need in order to manage a major office. Being an accountant has given her a respect and understanding of the need to budget, take inventory, and figure out ways to run a business as efficiently as possible.

For some, being a manager or professional leader can be difficult. Throughout her twenty years of experience, Debra Oselett has realized what it truly means to be a manager, implement policies, and essentially be responsible for all staff members. Her management skills enhance performance within her office. Here are some useful tips for managers or professional leaders in any field.

If you want to be a successful manager, you need to be able to lead through example. Your employees and staff members will be looking to you as their example of how to conduct themselves in the work place, which includes communication, work ethic, and your ability to take direction. Set an example for your employees that you would want to witness from your own manager, and understand that this is one of the best ways your employees can learn.

In addition to leading by example, you need to lead with compassion. Being approachable is extremely important as a manager because it means your employees are comfortable coming to you with problems, mistakes, or concerns. The more understanding you are when the situation calls for it, the more approachable you’ll be to your staff. For example, if someone comes to you with a mistake, don’t get upset; simply use the opportunity as a learning experience so it doesn’t happen again.

Lastly, make sure that your staff feels like you trust them with their responsibilities. A major mistake that a lot of managers make is that they don’t display trust. This tends to decrease productivity throughout the office due to micromanagement. Trying to control every aspect of a person’s job is an obvious sign you don’t trust them, which will also result in a lapse of motivation. Trust your employees to get their tasks completed on time, and up to the right quality standards.

Debra Oselett understands the importance of her position as a practice administrator, and she also understands that the role comes with active management responsibilities. She works hard in order to implement policies that will ensure that her office runs as efficiently as possible, and helps as many people as it can along the way.

Debra Oselett – Medical Administration

As Debra Oselett and other skilled office administrators know, medical practice administrators have multiple, essential responsibilities that must be performed accurately for a medical office to be profitable and operate successfully. Without a smart, knowledgeable medical administrator, a doctor’s office can quickly lose clients and money.

Individuals in medical administration assist in various levels of a doctor’s office, such as patient coordinator to unit secretary to medical office specialist. A medical administrator’s job responsibilities can vary widely, but often include checking in patients, organizing patient records and charts, answering the phone, scheduling appointments, operating computer and technological equipment in the office, transferring lab results to the proper locations, and maintaining the supplies for the office itself.

Medical administrative roles can vary by position, as a medical administrator for a clinic will have different responsibilities than one in a private practice or hospital. An administrator’s position will be less stressful and more consistent in a clinic; a position in private practice will require more prioritization skills, such as multitasking; and an administrator in a hospital setting must be calm, able to ease anxious, panicked patients, and able to handle emergency situations with aplomb. It’s also critical for a hospital administrator to be able to quickly identify her role in unexpected emergencies.

Experienced medical administrators like Debra Oselett of Rochester Hills, Michigan, are tasked with the serious responsibility of keeping the medical office operating smoothly, whether it is a hospital, clinic, or private practice. Without skilled medical administrators, doctor’s office would not be able to function efficiently.

Source: http://www.rasmussen.edu/degrees/health-sciences/blog/what-does-a-medical-administrative-assistant-do/

 

Debra Oselett – Peachtree Accounting Seminars

Skilled medical practice administrators like Debra Oselett, of Rochester Hills, Michigan, are familiar with Peachtree accounting systems, software, and seminars. Because of the popularity of Peachtree, medical administrators are wise to be as familiar with the program as is possible.

Peachtree accounting courses and seminars assist medical administrators in becoming quickly accustomed to the software. Peachtree, or Sage 50, offers three distinct levels of training for administrators and managers. Beginner seminars often start with reviews of the basics, like bookkeeping. The next steps covered pertain to new company set-up to introduce and then review aspects of the program such as data file modification and entry, including employees, inventory, vendors, customers, and accounts that need to be reviewed. Other areas covered in the beginner’s seminar are: payroll, accounts payable, accounts receivable, inventory, and general ledger.

The intermediate Peachtree/Sage 50 course builds upon all of the previously mentioned office and accounting functions at a higher level, including sections dedicated to balancing and reviewing the aforementioned sections. The Peachtree/Sage 50 advanced seminar offers guidance on the basic and intermediate level material, but also addresses more complex subjects like security; forms, reports, and financial statements; payroll; special procedures; backup utility; and time ticket employees.

Debra Oselett and other office administrators and managers are experienced in working with the Peachtree/Sage 50 accounting systems and have used them for many years to successfully operate medical offices. Superior and meticulous accounting skills are a must for a medical practice administrator in order for the office he or she operates to be profitable and respected.

Source: http://www.cpatrainingcenter.com/Peachtree-Software-Training.asp

 

Debra Oselett – Meaningful Use Stages for Medicare

Experienced medical practice administrators, like Debra Oselett of Rochester Hills, Michigan, must be familiar with the Meaningful Use program, which was instituted as part of the 2009 Health Information Technology for Economic and Clinical Health Act (HITECH). This program allows health care providers to show meaningful use of certified Electronic Health Records (EHR), which in turn earns incentive payments for eligible providers.

The Meaningful Use program has been instituted to encourage the adoption of electronic health care records systems to create a widespread system that provides top safety, quality, and efficiency of health care in America. In order to be entitled to incentive payments, providers must do more than just adopt an electronic health records system; they must also prove the meaningful use of the system by meeting a certain number of objectives established by the HITECH Act. These incentive payments can range from $44,000 to $63,750 for Medicaid-directed meaningful use programs. Medical providers who do not adopt an electronic health record system and document meaningful use will receive less than 100% of their Medicare fee schedule for their services.

The EHR program applies to various medical statutes, one of which is Medicare. Using the Medicare Meaningful Use Incentive program will grant those monetary incentives to medical providers who have an EHR in place and have proof of meaningful use. That proof spans a range of thresholds for multiple objectives that can positively impact patient care. Those medical providers can earn up to $44,000 in incentives from the Medicare Meaningful Use program by meeting Medicare’s established criteria for five consecutive years. This program was implemented to help encourage high-quality medical practice. The EHR program have been shown to have a positive impact on the medical field, which is why so many steps have been taken to encourage it. In 2015, Medicare began penalizing those medical providers who had not implemented an EHR system by reducing those providers’ Medicare reimbursements.

The Medicare Meaningful Use program considers the following as qualified for the EHR incentive: chiropractors, doctors of dental medicine and dental surgery, doctors of podiatric medicine, doctors of optometry, and doctors of medicine or osteopathy. This incentive program is not extended to most hospital-based providers, which are those providers with 90% or more of their services based in emergency or hospital inpatient settings. The exceptions to this rule are hospitals that are Medicare Advantage affiliated hospitals, subsection d hospitals, and critical access hospitals.

Debra Oselett and other prominent, skilled medical practice directors and administrators have a thorough knowledge of the Health Information Technology for Economic and Clinical Health Act, and especially the Medicare component and guidelines associated with it. An administrator’s familiarity with this act and its accompanying incentives can save the medical office significant amounts of money.

Source:http://www.athenahealth.com/knowledge-hub/meaningful-use/what-is-meaningful-use
http://www.athenahealth.com/knowledge-hub/meaningful-use/medicare
http://www.athenahealth.com/knowledge-hub/meaningful-use/medicare-criteria

Debra Oselett – Medical Office Budgets

Many successful medical practice administrators, like Debra Oselett, know that one of the core components to running a profitable medical office or business is to be superior at budgeting. Budgets serve as a measurement for doctors and staff to evaluate financial performance and identify operational concerns that need further attention.

One method of medical office budgeting that emphasizes clarity is the process of separating the variable revenues, those streams that change month to month, from the fixed revenues, those that are more consistent on a monthly basis. The office administrator can look at all large revenue streams and group them initially in larger categories; eventually, these larger categories can be dispersed into smaller, more specifically labeled groups. The administrator will look closely at the revenue streams and examine the adjustments to revenue in particular, due to the regularity of collecting much less than the amount charged to insurance companies. Additionally, this step is also one that addresses any refunds credited to clients.

The second aspect of this budgeting approach is the evaluation and record of expenses. Keeping track of expenses can be difficult, but is an important part of proper budgeting. Knowing how much is being spent helps you to learn where it is being done so in excess. An administrator for example, will divide the expenses into variable and fixed sections. Typically, the difference between these two categories can be determined by examining what expenses would terminate if the medical office were to close for a month. Expenses involving staff (clinical ad office), utilities, maintenance, and office supplies would therefore count as variable expenses.

Fixed expenses include those that would be unchanged if a medical office were to close for thirty days. These expenses many include advertising expenses, loan repayments, fixed management salaries, subscriptions or dues, and lease payments. The breakdown of variable and fixed expenses will vary from medical practice to medical practice.

The next step involves that office administrator defining the net income, or the total expenses subtracted from the total revenues. The net income is what determines the profitability of the medical practice or office.

Office administrators like Debra Oselett who desire a successful, profitable office and practice always create a budget, follow it, but also revisit and revise it if necessary every year. Forecasting revenue and expenses can also help a savvy office administrator better prepare and create the yearly office budget. Administrators often look to technological platforms to make the process of recording and using revenue and expense information more readily and easily. Also, monitoring the budget of a frequent basis can keep the administrator apprised to how close or far the practice is from the forecasted budget. Finally, many administrators also keep a line of credit available to help alleviate any unexpected cash flow issues.

Sources: http://medicaleconomics.modernmedicine.com/medical-economics/news/modernmedicine/modern-medicine-feature-articles/6-keys-profitability

http://www.vantageclinicalsolutions.com/blog/2009/10/07/medical-practice-management-101-creating-a-medical-practice-budget/