Administrator and Practice of the Year Award Nominations Deadline is Friday, March 15th

Administrator and Practice of the Year Awards

Nominations Deadline is Friday, March 15th

Annually, the North Carolina Medical Group Management Association (NCMGMA) recognizes outstanding performance by an individual and a medical practice with our Administrator of the Year Award and our Practice of the Year Award. For 2019, both awards will be presented at our Annual Meeting, to be held May 8-10 in Wilmington, NC. Nominations for both awards are now open.

NCMGMA-Medical Mutual Administrator of the Year Award

medical-mutual-medEach year, NCMGMA and Medical Mutual recognize a healthcare administrator, affiliated with the NCMGMA, who has exhibited exceptional leadership management proficiency and enhanced the effectiveness of healthcare delivery in his/her practice and community through recent, noteworthy achievements.

If you wish to learn more about this award and/or nominate a colleague, follow this link to fill out a complete form or email our offices at info@ncmgm.org to nominate an administrator. The deadline for nominations is March 15, 2019.

NCMGMA-First Citizens Bank Practice of the Year Award

First-Citizens-HorizontalThe North Carolina Medical Group Management Association (NCMGMA) is proud to partner with First Citizens Bank to present the 7th Annual Practice of the Year Award. This award recognizes a medical group practice that has made a significant contribution to their community, patients and/or staff through volunteer work, indigent clinics, fundraisers, staff wellness programs, community clean ups, community screenings and education (internal & external), etc.

Follow this link to learn more about the award or to begin the nomination process. The deadline for submissions is March 15, 2019.

Questions

If you have any questions, please contact the NCMGMA offices at info@ncmgm.org or 800-753-MGMA (6462).

Administrator and Practice of the Year Awards Nominations Deadline Extended

Administrator and Practice of the Year Awards

Nominations deadline extended to Friday, March 15th

Annually, the North Carolina Medical Group Management Association (NCMGMA) recognizes outstanding performance by an individual and a medical practice with our Administrator of the Year Award and our Practice of the Year Award. For 2019, both awards will be presented at our Annual Meeting, to be held May 8-10 in Wilmington, NC. Nominations for both awards are now open.

NCMGMA-Medical Mutual Administrator of the Year Award

medical-mutual-medEach year, NCMGMA and Medical Mutual recognize a healthcare administrator, affiliated with the NCMGMA, who has exhibited exceptional leadership management proficiency and enhanced the effectiveness of healthcare delivery in his/her practice and community through recent, noteworthy achievements.

If you wish to learn more about this award and/or nominate a colleague, follow this link to fill out a complete form or email our offices at info@ncmgm.org to nominate an administrator. The deadline for nominations is March 15, 2019.

NCMGMA-First Citizens Bank Practice of the Year Award

First-Citizens-HorizontalThe North Carolina Medical Group Management Association (NCMGMA) is proud to partner with First Citizens Bank to present the 7th Annual Practice of the Year Award. This award recognizes a medical group practice that has made a significant contribution to their community, patients and/or staff through volunteer work, indigent clinics, fundraisers, staff wellness programs, community clean ups, community screenings and education (internal & external), etc.

Follow this link to learn more about the award or to begin the nomination process. The deadline for submissions is March 15, 2019.

Questions

If you have any questions, please contact the NCMGMA offices at info@ncmgm.org or 800-753-MGMA (6462).

Registration Open for 2019 NCMGMA Annual Conference

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Attendee Registration is Now Open
Sign up today to join us in Wilmington!

Wilmington-Waterfront-sml2Game on! NCMGMA is returning to the Wilmington Convention Center for our 2019 Annual Conference. Scheduled for May 8-10, we have a packed schedule full of game-winning sessions and networking events you won’t want to miss. Start by registering today and make plans to join us for this exciting healthcare industry event. Early-bird registration ends Monday, April 15, 2019.

Featured Speakers

We’ve pulled together an exciting line up of sessions and speakers for Wilmington.
Here are three of the big names coming to Wilmington in May!

JeffButler147aWednesday, May 8, 2019
Thursday, May 9, 2019
Generational-Millennial Presentation
Jeff Butler, JB International
Jeff Butler is an international top-rated keynote speaker, author and passionate millennial who helps organizations improve their relationships with millennial employees. With Jeff’s versatile background, he has helped fortune 500 companies, such as Amazon and Google, as well as thousands of professionals across the United States. You may have seen him on Forbes, USA Weekly or appearing on the TEDx stage in both 2016 and 2017.

TimGard147aThursday, May 9, 2019
Leadership: Tao of Humor
Tim Gard, Hall of Fame Speaker
Tim Gard, CSP, CPAE, is a tears-in-your-eyes funny keynote speaker who teaches people how to become more resilient and resourceful as well as coaching businesses on how to enhance employee productivity and enthusiasm. He is a CPAE (Council of Peers Award of Excellence) Hall of Fame Speaker, an elite honor shared by 150 people worldwide, as well as a CSP (Certified Speaking Professional).

MarkWerner147aThursday, May 9, 2019
Blue Premier
Mark Werner, Blue Cross Blue Shield
Mark Werner, is vice president of Network Management for Blue Cross North Carolina. In his role, he is responsible for contracting, servicing and creating strategic partnerships with providers in North Carolina. Mark has over twenty years experience in the managed care business. He has extensive background in negotiating and educating managed care provider networks in North Carolina. Prior to joining Blue Cross NC, Mark worked has held a variety of managed care positions for both providers and payors.

Featured Sessions

Wednesday, May 8th

  • North Carolina Medical Board – Responding to a Request
    Jerry Allen, Jr., Walker Allen
  • Creating a Culture of Service Excellence Through Improved
    Employee Engagement
    Matt Johnson, Wake Internal Medicine Consultants, Inc.

Thursday, May 9th

  • Tools to Identify Waste and Discover Opportunities for Cost Reduction
    Kari Kalgren, K2
  • Physician Recruitment: Successful Candidate Sourcing Strategies
    Matt Neuwirth, Enterprise Medical Recruiting
  • Private Equity Investment in Physician Groups
    Joy Hord, Parker Poe
    Todd Zigrang, Health Capital Consultants
  • Excel Focused! A Quick, Pivot Table How-to
    Sharon Jones, The Dot Consulting

Friday, May 10th

  • ACMPE Certification – What is it and CE Requirement Updates
    Michelle Torak, NCMGMA ACMPE Liaison
  • The Health of Healthcare Politics in North Carolina
    Representative Dr. Murphy
    Representative Josh Dobson
  • Disaster Preparedness Panel
    Steve DeBiasi, EmergeOrtho, PA
    Tim Bell, Children’s Health of Carolina, PA

Follow this link to view our complete line up of sessions, event times and speakers!

Attendee Registration

Annual Conference registration is now open, starting at $325 with discounts for additional staff. Follow the links at the blue buttons below for online registration and printable mail/fax registration form. The early bird registration deadline is April 15, 2019.

General Conference Information

Feeling Lucky? Join us at the NCMGMA Game Zone!
Located in the NCMGMA Exhibitor Hall, play a game of life-size Jenga, cornhole, Connect Four and more! Grab a colleague and get ready for a fun time while networking with our Alliance Sponsors!

Accommodations
Our headquarters for the Annual Conference is the Embassy Suites Wilmington and we are pleased to offer our attendees the discounted group rate of $189 per night (plus taxes). This rate includes complimentary valet or daily self-parking. To make reservations, call 1-800-HILTONS and use the discount code MGM; or make them online by clicking here. The Embassy Suites NCMGMA discount room block cutoff is April 15th.

2019 Administrator of the Year Award Nominations are Open!
medical-mutual-medSponsored by Medical Mutual
Nominations deadline is 5:00 PM on March 8, 2019
Medical Mutual image The North Carolina Medical Group Management Association (NCMGMA) and Medical Mutual present the 2019 Administrator of the Year Award. The award recognizes a medical group practice administrator affiliated with NCMGMA who has exhibited exceptional leadership management proficiency and enhanced the effectiveness in the delivery of health care in his/her practice and community through a recent, noteworthy achievement. Applications should be submitted to Melissa@ncmgm.org.

2019 Practice of the Year Award Nominations are Open!
First-Citizens-HorizontalSponsored by First Citizens Bank
Nominations deadline is 5:00 PM on March 8, 2019
First Citizens Bank image The North Carolina Medical Group Management Association (NCMGMA) is proud to partner with First Citizens Bank to present the 7th Annual Practice of the Year Award. This award recognizes a medical group practice that has made a significant contribution to their community, patients and/or staff through volunteer work, indigent clinics, fundraisers, staff wellness programs, community clean ups, community screenings and education (internal & external), and more. Applications should be submitted to Melissa@ncmgm.org.

Questions

Follow the links above for more information and for registration. If you have any questions, please contact the NCMGMA offices at info@ncmgm.org.

Submit Your Nominations for Administrator and Practice of the Year

Annually, the North Carolina Medical Group Management Association (NCMGMA) recognizes outstanding performance by an individual and a medical practice with our Administrator of the Year Award and our Practice of the Year Award. For 2019, both awards will be presented at our Annual Conference, to be held May 8-10 in Wilmington, NC. Nominations for both awards are now open.

NCMGMA-Medical Mutual Administrator of the Year Award

medical-mutual-medEach year, NCMGMA and Medical Mutual recognize a healthcare administrator, affiliated with the NCMGMA, who has exhibited exceptional leadership management proficiency and enhanced the effectiveness of healthcare delivery in his/her practice and community through recent, noteworthy achievements.

If you wish to learn more about this award and/or nominate a colleague, follow this link to fill out a complete form or email our offices at info@ncmgm.org to nominate an administrator. The deadline for nominations is March 8, 2019.

NCMGMA-First Citizens Bank Practice of the Year Award

First-Citizens-HorizontalThe North Carolina Medical Group Management Association (NCMGMA) is proud to partner with First Citizens Bank to present the 7th Annual Practice of the Year Award. This award recognizes a medical group practice that has made a significant contribution to their community, patients and/or staff through volunteer work, indigent clinics, fundraisers, staff wellness programs, community clean ups, community screenings and education (internal & external), etc.

Follow this link to learn more about the award or to begin the nomination process. The deadline for submissions is March 8, 2019.

Questions

If you have any questions, please contact the NCMGMA offices at info@ncmgm.org or 800-753-MGMA (6462).

Nominations are Open for Administrator of the Year and Practice of the Year

Annually, the North Carolina Medical Group Management Association (NCMGMA) recognizes outstanding performance by an individual and a medical practice with our Administrator of the Year Award and our Practice of the Year Award. For 2019, both awards will be presented at our Annual Meeting, to be held May 8-10 in Wilmington, NC. Nominations for both awards are now open.

NCMGMA-Medical Mutual Administrator of the Year Award

medical-mutual-medEach year, NCMGMA and Medical Mutual recognize a healthcare administrator, affiliated with the NCMGMA, who has exhibited exceptional leadership management proficiency and enhanced the effectiveness of healthcare delivery in his/her practice and community through recent, noteworthy achievements.

If you wish to learn more about this award and/or nominate a colleague, follow this link to fill out a complete form or email our offices at info@ncmgm.org to nominate an administrator. The deadline for nominations is March 8, 2019.

NCMGMA-First Citizens Bank Practice of the Year Award

First-Citizens-HorizontalThe North Carolina Medical Group Management Association (NCMGMA) is proud to partner with First Citizens Bank to present the 7th Annual Practice of the Year Award. This award recognizes a medical group practice that has made a significant contribution to their community, patients and/or staff through volunteer work, indigent clinics, fundraisers, staff wellness programs, community clean ups, community screenings and education (internal & external), etc.

Follow this link to learn more about the award or to begin the nomination process. The deadline for submissions is March 8, 2019.

Questions

If you have any questions, please contact the NCMGMA offices at info@ncmgm.org or 800-753-MGMA (6462).

Seven Ways to Plan for Succession

2018 Alliance sponsor article provided courtesy of First Citizens Bank

Daily business management is your top concern when you run a company. At some point, though, you may be ready to transition away from the medical group you worked so hard to build.

Maybe you plan to retire, or perhaps sell to a larger group interested in expanding. Regardless of why and how you exit, a carefully executed business succession plan is essential to reach your goals.

If you don’t have a business succession plan in place, you’re not alone. According to studies from the Financial Planning Association and CNBC, most business owners plan to make a handoff of some kind, but only about one-third of businesses have an exit strategy in place.

Read on to learn how to plan for this important undertaking in your company.

Start early. Estimates for the length of time required to put a succession plan in place range from one to five years. Sometimes it takes even longer. Firming up your goals, assembling a team of advisors, making any required changes to your company, and planning your post-sale life all take time.

Set goals. Do you hope to use proceeds from the sale for your retirement? Do you want to continue to work for the group once you hand it off? Another keystone of goal setting is understanding your complete financial needs post-succession. For example, if your medical group is your retirement plan, then you will need to know the minimum sale price to ensure you have enough to support you during your retirement years.

Explore options. Part of your planning should also entail broadening your knowledge of less well-known exit paths. With a full understanding of the range of succession options, you are most likely to find the best option for you. For example, selling to employees via an employee stock ownership plan (ESOP) may offer more tax advantages and could ultimately result in greater proceeds to you than a sale to a third party.

Focus on taxes. Tax planning is an important part of preparing for business succession. In fact, each decision you make along the way will likely have tax implications. With a Wealth Planner involved from the early phases of this process, you can make decisions with the greatest tax-efficiency in mind.

Consider financing. Personnel changes, upgrades to infrastructure and reduction of risk are just some of the undertakings needed to prepare a business for a transition. These changes can help make your business viable without you and more attractive to others. They may also require funding. Consider your funding requirements early in the process so that you have ample time to find the best option.

Value your company. The price your group will fetch can actually differ depending on many factors, including your transition plan. For example, if you sell to a competitor or a financial investor, you may get a higher price than if you sell to an existing employee or family member. The assets you have and the infrastructure you have in place are other factors that can impact your valuation. Consult with your Wealth Advisor and Wealth Planner to determine the path to a realistic price.

Assemble a team. Planning for your exit can be overwhelming, but it doesn’t have to be. Early in the process, it’s recommended that you work with a Wealth Planner or Wealth Advisor. These professionals can help prioritize your goals, educate you on your options and act as a project manager with all your other advisors, such as attorneys or accountants, to shepherd you and your business through an often challenging, but exciting, transition process.

First Citizens can help you plan for your business succession. For more information, contact Andy Shene, Charlotte Metro Area Executive for First Citizens Bank, 704.338.3926. First Citizens Bank. Forever First. ® Member FDIC.

 

Streamlining Payables to Improve Cash Flow

2018 Alliance Sponsor Article Courtesy of First Citizens Bank

The way a company such as a medical group manages its payables has a direct impact on its cash flow. Refining your approach to accounts payable can strengthen your firm’s overall financial health.

Improvements to your payables process can result in easier expense tracking, reduced risk for error and increased access to vendor discounts. An optimized process also tends to save employees time and strengthen vendor relationships.

North Carolina-headquartered First Citizens Bank offers the following four steps to gain improvements:

1. Reduce manual touches

A manual approach to accounts payable means multiple people may be involved in opening invoices, checking their accuracy, entering them into an accounting system, and approving and sending payments. Each link in the chain introduces risk — for lost bills, mistakes in data entry and delayed or missing payments. Manual processes also keep staff from higher priority strategic tasks.

To reduce inefficiencies and chokepoints, consider accepting electronic invoices and exploring software that automatically checks invoices against purchase orders to ensure that prices, quantities and other key details match. Automating these steps can free up accounts payable staff to focus on reviewing exceptions and other priorities.

2. Tap payment tools

Consider tools and tactics that can help to speed up accounts payable processing. These include:

  • Making electronic payments. Paying bills through the Automated Clearing House (ACH) network or via wire transfer lets clients receive payment more quickly, and it mitigates the risk of tampering and loss that can come with using checks. Paying electronically can also dramatically lower transaction costs: Sending a paper check is 10 times more expensive than sending an ACH payment, according to research from the Association for Financial Professionals and Bottomline Technologies.
  • Issuing purchasing cards. Providing purchasing cards to employees for certain types of expenses cuts down on invoices and purchase orders, potentially saving time and reducing the risk of error. Using purchasing cards also simplifies expense tracking and allows for tighter control over spending, through the ability to set per-employee limits.
  • Fine-tuning account management. Banking services are available to help you gain greater visibility into cash outlays and manage cash more effectively. For example, controlled disbursement services provide notification each morning for checks that will clear against an account that day. You can then move funds into the account to cover the payment or use excess funds for other purposes.

3. Time payments to your benefit

Automating your accounts payable process can result in shorter invoice processing and approval times, which in turn makes it easier to capture early payment discounts. Ensure you take these opportunities by establishing a payment-timing system that alerts you to when payments should be sent. For example, when bills are entered into your accounting system, include a note with the date you’d need to send payment to capture the discount. You can also use an online bill pay tool to schedule payments.

Pursuing these discounts may not always make sense — in some cases, you might want to keep cash available for other purposes. Yet capturing them when you can yield substantial savings.

4. Gain visibility through reporting tools

Using the reporting features included with some payments tools not only simplifies expense tracking and reconciliation but can also help you spot broader trends in your spending and make better-informed decisions. For example, examining your purchase card data can give you a clearer sense of the categories your company spends most on, helping you decide where adjustments may be needed. It can also help you quickly spot any duplicate or suspicious charges. Regularly running and reviewing reports on payables — for example, in your accounting software — can give you a big-picture view of your finances that help you better time purchases and forecast cash flow.

Need help streamlining your accounts payable process or tightening control over business spending? First Citizens can help. Learn about our payable solutions that can save you time and improve visibility.

For more information, contact Andy Shene, Charlotte Metro Area Executive for First Citizens Bank, 704.338.3926. First Citizens Bank. Forever First. ® Member FDIC.