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PRACTICE
MANAGEMENT
3 Orthopedic Clinics to Pay
$2.39M to Settle False Claims
Act Allegations
By Megan Wood
T
hree orthopedic clinics will pay a total of $2.39
million to settle federal and state False Claims Act
allegations, according to KRCRTV.com.
The involved clinics include:
• Chico-based Orthopedic Associates of Northern Califor-
nia — $815,794
• Redlands, Calif.-based San Bernardino Medical Or-
thopaedic Group, DBA Arrowhead Orthopaedics —
$971,903
• Reno (Nev.) Orthopaedic Clinic — $602,335
Here are five things to know:
1. The three orthopedic clinics allegedly billed federal
and state healthcare programs for re-imported osteoar-
thritis medications, called viscosupplements.
2. Allegedly, the clinics bought discounted viscosupple-
ments that were re-imported from foreign countries. They
then billed state and federal healthcare programs for re-
imbursements, even though the re-imported viscosupple-
ments did not qualify as reimbursable.
3. The federal government claimed that since the prod-
ucts were re-imported, they could have been altered or
stored inappropriately.
4. The lawsuit came to fruition after a senior musculoskel-
etal specialty manger at Sanofi S.A. — a manufacturer of
viscosupplements — filed it via the False Claims Act.
5. The court has not yet determined any liability; the settle-
ment is just based on allegations. n
5 Financial Thoughts for Mid-
Career Physicians
By Megan Wood
W
hat should physicians hitting the mid-point in
their careers focus on, financially? Physician's
Money Digest offers some considerations.
Here are five things to note:
1. By the time you hit your forties, you may want to reme-
dy any financial faux-pas you made in your younger years.
Whether it was making an investment mistake or purchas-
ing a bad life insurance policy, now is the time to right the
wrong. Meet with a financial advisor to correct the issue —
the money it takes now will likely save an immense amount
in the long run.
2. Pay off your mortgage. At this point in your career, you
have a grasp of your earnings and you've likely been in
your house for at least a few years. Figure out how to pay
your mortgage off early, as it will enhance your retirement
savings.
3. Take another look at the college fund, and analyze
the current standing of tuition. Figure out whether state
schools are more in your range, or if you can help with
private school tuition. Paying for your child's college will
arrive before you retire, and it is a good financial test-run
of your ability to establish a financial plan and follow it.
4. Consider your past advisory decisions, and decide if it's
time for a new advisor or new negotiation on advisory fees.
Make sure you are receiving solid advice at a fair price.
5. Check your spending and whether you are saving
enough. Shoot for allotting 20 percent of your gross in-
come to your retirement fund. n
most satisfied physicians for the second year
in a row are dermatologists, with a 65 percent
satisfaction rate. Nephrologists boast the low-
est satisfaction rate at 47 percent.
1
21. Orthopedists are open to discussing the
cost of treatment with patients as 22 percent
of them regularly discuss it; 34 percent dis-
cuss it under certain circumstances; and 30
percent discuss it if the patient brings it up.
Only 14 percent do not discuss cost with pa-
tients. n
Footnotes:
1
Medscape Orthopedist Compensation Report
2016
2
Medscape Orthopedist Lifestyle Report 2016
3
Clinician Signing and Relocation Bonuses
Rose in 2015
4
11 Highest Paying States for Orthopedic
Surgeons
5
Medscape Physician Debt and Net Worth Re-
port 2016
