January 2017

May is the month for the Florida online tax sales, but there are a few problems with the online tax sales in Florida. The interest rate at the Florida tax sales is typically bid down to.25%, and Florida counties allow investors to have subaccounts, which give the institutional buyers a great advantage over the small investor. But even if you manage to buy a tax lien at a decent rate in one of the Florida sales, the redemption period is 2 years, and you may have to wait out the redemption period before getting paid on your lien. So how can you make money in the online tax lien sales without having to wait 2 years or more to get paid?

Everybody wants to know which states have the highest interest rates and the shortest redemption periods. Many are interested in redeemable deed states that have steep penalties, like Texas where the redemption period is only 6 months and the penalty is 25%, or Georgia where the penalty is 20% and the redemption period one year. But the problem with investing in these states is that they do not have online sales.

But there is one tax lien state that does have a short redemption period and online tax sales, and some of the counties in this state do have decent interest rates as well. The state that I’m referring to is Maryland.

Maryland tax sales take place in May and June each year and a few of them are online. The redemption period in Maryland counties is one of the shortest – only 6 months. The interest rate varies by county quite a bit, from 8% to 20% per annum! The county with the highest rate of return is Prince George’s County but they do not have online sales. The City of Baltimore and Howard County, however, do have online sales and have an interest rate of 18% per annum.

Bidding in Maryland tax sales is very different from bidding at tax sales in other states. In Maryland counties, premium is bid, but you do not have to pay the entire premium at the sale. What you pay at the tax sale is the certificate amount and a portion of the premium, referred to as “high bid premium.” High bid premium is 20% of the difference between the bid amount and 40% of the property value. So if you bid less than 40% of the property value you don’t have to pay any of the premium you bid at the sale. But you do have to pay all the premium bid if you foreclose on the property.

Maryland counties also charge a non-refundable fee to bid at the sale. These fees can vary by county from $100 – $150 dollars. Howard County has a $1000 deposit requirement instead of a registration fee and this is refunded if you do not have successful bids. If you are successful bidding then the deposit is applied to the amount due in order …

Introduction

Starting your very own business is a venture most people would be very hesitant to talk about. Not that it’s illegal or anything, but because of the risks that it entails. But you don’t need a huge pile of cash or a very good credit rating (though it is preferred) in order to start your own business venture. You just need to have an idea to what business you want and the guts to make it happen. And if you’re into arts and crafts, then this one might fit your hobbies well – personalized bracelets.

Personalized bracelets (and other items such as personalised keyrings and name bracelets) are among the latest addition to the accessories most people look for. As most bracelets sold in jewelry shops are not as affordable as they are claimed to be, innovators in the accessory business found a way to incorporate this trend to new materials, create a much affordable version, and thus, the rubber bracelets were born. This trend was popularized through the Livestrong Band, a colored silicone rubber bracelet created by Nike for Lance Armstrong in 2003 which was also called “baller band” and “wrist band”. Through the exposure that it has garnered, it became a high cost-high return instrument used for different campaigns, and other social purposes.

Tips in Starting a Personalized Bracelet Business

Here are some tips on how to start a business that produces personalized bracelets

1. Decide what kind of bracelets you want to sell.

From being “awareness ribbons”, it became an accessory for both men and women. Almost every teenager is wearing one. But generic bracelets took away all the hype from the trend. Teenagers were looking for something new, something more personal. This of course, led to personalized bands/bracelets.

Personalized bands or bracelets are made from different materials. This should be considered during the “planning” phase of your business. Rubber or silicone bracelets (most commonly used as your everyday band) are more flexible and come in different colors. The level of personalization is very high in this material as you can choose the color, the additional bling (some rubber bracelets have installed digital watches), and other things which make it “yours”. In-line or “tennis” bracelets (because it is often seen used by tennis players) has also a high level of customization but should be kept at a minimum as the color of the bracelet itself isn’t as flexible as its rubber counterpart. And leather bracelets (the ones you see in heavy metal musicians and fans) are less versatile and should be used with extreme caution as it is not an ideal day-to-day accessory. Slap bracelets, metal strips which are “slapped” to the wrist to fit, is also very customizable though its customization should be carefully planned as to not mortify its beauty. One way to customize a slap band is for it to be hand stamped.

2. Identify the materials you need to get started.

When you have selected what type of bracelet to produce, the …

Real easy to start a business. Register your business name at the Companies Commission of Malaysia known as SSM and in about 45 minutes, you already have a business. However, a short business registration process is not meant in no time you too can benefit your business. You are lucky if this happens.

There are several other factors you should consider before stepping foot into the SSM.

  • Does your business simply want the money?

There is no doubt that every entrepreneur wants profits from the business. But, if you will continue to do business if you can not benefit in a long time as long as 3 or 4 months? What if that year is still not a profit? Knowledge, talents and money go hand in business. If you have any knowledge of the business, has been added to your chosen line of business is your hobby, for example, money has become a matter of no importance to you. But beware, do not bankrupt your interests are. Business talent can be polished. Which way is participating in workshops on managing the business conducted by business consultants who are more experienced.

  • Are your products and services to meet market needs?

You need to do a survey first before doing business. Spend more time making a survey of the community in which you want to open shop later. What is needed by the community. Are your products and services included in their will? If yes, state statistics so you can develop a good business plan will.

  • Do you have sufficient working capital?

Capital is important in determining the business can survive or not. A small business should be targeting at least have the working capital available capital up to 3 months even if not a profit. Failure to provide adequate capital stock will limit your future marketing efforts. Keep in mind that you are also responsible for promoting your business no matter how minor you use any media such as advertisements from home to home.

  • Are you willing to bear the risk in your business?

Every business has its own risks but the difference between us is the size of the risk. Small businesses remain at risk even if not by big business. But you need to know the level of risk you incur in the event something unfortunate like theft and fire. The transfer of risk can be made to subscribe an insurance policy and installing closed-circuit television or CCTV at the awards of your business.

  • Do you have assistance in case of any problem?

Assistance not only in terms of cost, but in every aspect of your business from the installation of front door through to the advertising business. Not necessarily you need money to have all forms of assistance. Sometimes after a long business, you will develop a network of individuals who are experts in their fields. Some will help you for free, or even with the cup of coffee. …

Most people don’t really understand the truth behind our banking system because it isn’t taught in our schools, not even to financial professionals. Oddly enough, the inconvenient history is omitted from all educational curriculums. I obtained a business degree in finance and there was one thing that never was taught to me about the origins of our banking system that I believe is key to the state of our banking system and our economy today. It is the fact that it was created under cover of legislation that was supposed to protect the economy and stabilize it. That is the primary mission of the Federal Reserve Bank. However, the real motivation was to shield the owners of the banks from competition and create a cartel.

I was also created to start a franchise that could print a fiat currency. A fiat currency is one that has no basis of value except by the good faith in the government to pay its debts. It means that if more money is needed in the economy, the bank simply creates it. This central bank could also then take control of all the reserves of all banks to protect the more wreck less banks from runs at the cost of the conservative ones, and get access to taxpayer money when the bank is in trouble. All the while, the Federal Reserve Act of 1913 was sold as a law that would protect the public. In terms of stabilizing the economy, the Federal Reserve Bank has failed miserably. In terms of reaching its true and hidden goals, it has been extremely successful.

People believe that the financial crisis is somewhat of a mystery. But every financial crisis we have had since the Federal Reserve Banking System has been in place has been related to debt. Under the current system, debt is used to create new money or to shrink the supply of money (by paying debt off) to attempt to control the economy, and allegedly stabilize it. In reality, since the loans were made with money created from nothing, the bank loses very little money. It is money that it never had in the first place. Technically, a retail bank with too many bad loans becomes insolvent, so the game is to roll bad loans over into larger ones and creates more money and gives the borrowers more money to continue to make the interest payments. There is also insurance that backs loans, so the government will pay for bad loans with taxpayer money. The Federal Reserve Bank has convinced the government that allowing big banks to fail would create great hardship in the economy, however, it is the massive creation of debt that fuels this system that causes the great hardship when the final cost of bailouts is passed to the public in the form of inflation due to an excess supply of money created by excessive lending to cover bad loans.

There is a rich history of how the banking bailout system has …

Every business concept has brilliant ideas or elements in them. Unfortunately, great ideas are not enough to produce a great business. I have seen hundreds of great ideas, but few of those great ideas end up creating a new business because so many ‘would-be’ business owners lack either the experience or the expertise to successfully manage their great concepts into cash-rich businesses.

Go ahead and develop your business concept. Identify and consult all the professionals essential to the project [accountants, lawyers, engineers, designers, architects, builders, and trades ]. Now you will have a clear understanding of what is involved in completing the implementation of your project.

You have sourced competitive quotations on the costs each profession needs to charge for their professional work, the input of the various trades and the materials for each task and stage of the complete job. So eventually, you have brought all this information together with the scheduling plan of your project manager. Now you can place every task, stage and the corresponding cost into a timeline format.

So, the draw-down schedule brings together each task, the cost of that task or stage, and the time in which the work is to be completed. These are the 3 elements of a draw-down schedule.

When all this is completed you may now quantify the draw-down schedule, where you need to pay each contractor or professional as they complete their stages of your project.

How to do this? Create a timeline with markers at regular intervals, indicate each month of the project implementation phase. [Tip: Number the first month of project implementation as Month 1 etc. Therefore, if there are delays in starting, you don’t have to re-write the spreadsheet.]

Now locate each component of your project on that timeline, show when each piece of the task needs to begin, and when it should be ended. You may find that this is quite complex. If you’re doing this on paper it may take a few tries to finalise. This will depend upon the complexity of the project implementation.

If you’re recording the timeline on a computer you may need to re-sort the information a few times to get it all ordered. Now plot on this timeline axis a place for the expenditure for each component of the work. When this is done for every piece of the project you shall have a $$$ value for the amount of capital needed to pay for all the work. Make sure that you include the costs of accessing the investment funding, any commissions payable etc.

When you identify the amount of capital you and your fellow shareholders have in hand at the start, you shall be able to identify the point in time when you shall need to have access to an investor’s funds to continue the development program.

Now your ‘draw-down schedule’ is complete. This is a vital piece of information you need to bring to us, as we prepare your winning business plan. Your detailed work demonstrates to …

Importance of Using Proper Modifiers:

1. The physician performed multiple procedures

2. The procedure performed was bilateral

3. The E/M service was done on the same day of the procedure

4. The procedure was increased or decreased

5. The procedure has both professional and technical component

6. The procedure was performed by other provider (Anesthesiologist, Surgeon Physical Therapist, Speech Pathologists etc.)

7. Procedure on either one side of the body was performed

8. The E/M service was provided within the postoperative period

9. The E/M service resulted to Decision of Surgery

10. Unusual Circumstance

Maximize your reimbursement for bilateral procedures by using the correct modifier.

Bilateral Modifier (-50)

Depending upon the insurance payer, processing claims with bilateral procedure should be paid 150%

Medicare Part B requires one single line of bilateral procedure code with Modifier 50. They normally process the claim with 150% reimbursement. But again, you have to check on this in your state and in your region.

Some commercial insurance would prefer Two Lines of the same code, once with 50, second without 50. Then second modifier on the 1st line is RT or LT, modifier RT or LT on second line, with 1 unit of service each code. Must be reimbursed at 150%

Some commercial insurance would prefer two lines of the same code with modifier LT or RT on each line with 1 unit of service each code. Must be reimbursed at 150%

Always check on your Physician’s Fee Schedule if the procedure code is billable as bilateral J.

Using LT & RT modifier is used to specify which side of the body the procedure was done by the physician. Medicare Part B based on my experience requires specific modifier, either LT or RT. Example you may report procedure 64626 done on the Right C4-C7 Facet Joint Nerve Ablation as 64626-RT.

Modifier -26. Professional Component.

Example: Report procedure code 77003 – Fluoroscopic guidance and localization of needle or catheter tip for spine or paraspinous diagnostic or therapeutic injection procedures (epidural, transforaminal epidural, subarachnoid,, paravertebral facet joint, paravertebral facet joint nerve or sacroiliac joint) including neurolytic agent destruction) with modifier -26 to indicate the physicians Professional Component only reimbursement and not technical component. If the provider’s office owns the fluoroscopic equipment, do not append -26 modifier.

Modifier -25. Significant, Separately Identifiable Evaluation and Management Service by the Same Physician on the Same Day of the Procedure or Other Service.

Example: Report E/M code 99213 (Office or other outpatient visit for the evaluation and management of an established patient) with Modifier -25 for procedure code 20610 Knee Joint Injection done on the same day of the procedure. Modifier -25 indicates significance and separate identifiable E/M service outside the procedure done on the patient. DO NOT use modifier -25 to report E/M service that resulted for initial decision for surgery.

Instead use modifier -57 for Decision for Surgery

Modifier -24. Unrelated Evaluation and Management Service by the Same Physician During Postoperative Period

Example: Report E/M code 99213 with Modifier …

There are three kinds of agent which are classified by the law, the first is the universal agent. A universal agent can do most things for the principal in the principle agent relationship. The universal agent may be appointed by power of attorney. The power of attorney is the deed signed by the principle and witnessed by the principle. The donor of the power gives the agent or the attorney the power or the authority to act on behalf of the principle. For example, the principle may be traveling or living overseas or maybe in hospital or have limited mobility. The power of attorney may be general or it may be limited to a particular area, a particular purpose such as the sale of a particular property or a period of time such as one year or until someone returns from overseas. Appointing an attorney can give peace of mind for spouses or family members as they give each other power of attorney in case of accident or absence. The power of attorney can be stopped like any other agency appointment.

The other types of an agency type relationship include the general agent which has less power than universal agent. The general agent can make contracts and do things for the principle, they may do things which are normal in the ordinary business of the principle. For example, the agent may be employed to manage all the principals shops or maybe employed as a traveling representative or may be employed to do an act which is within the normal scope of the agencies own business. The final type of agent is a special agent which is limited and has even more narrowly defined powers than universal and the general agent. The special agent is appointed for a specific purpose or to do something which is not within the course of the agents than usual business. For example, a real estate agent may be appointed a special agent not to sell a house but to sell furniture in the house, because selling furniture is outside the ordinary business of real estate agent. Many occupations including accountants and travel agents fit in this model. …

The history of business communication is, of course, closely linked with the histories of communication itself and that of business operations. When the two merge, they become a vital part of successful commerce.

Communication is the process where a concept is shared between two living things. It can occur as a gesture, sound or visually in the form of pictures or print. Some of the first forms of visual communication came in the form of pictographs. People conveyed stories, histories or instructions through a series of illustrations typically drawn on the walls of caves. The second stage of written communication appeared as crude alphabets used to create a written language. Mobility of communication also occurred at this time, with the writing being found on clay, wax and tree bark. The next leap was that of the printing press during the 15th century. Next came the magnificent technological advancement using air waves and electronic signals: radio and telephone.

At every stage of communication development, so did business practices. The advent of common alphabets and a written language mean that craftsmen could order raw materials from previously unattainable sources. Consumers living outside of town could order products from tradespeople in town without having to make the trip. Invoices could be written and paid, and purchase orders sent. One could even surmise that international business practices began around this time. Since exploration was taking place, and wonderful new things like spices and fabrics were being brought back home, sometimes now written business communication made it possible for vendors to offer their high-end customers the latest discoveries.

The printing press bought with it books, newspapers and catalogs bearing advertisements for local businesses. Businesses now had an entirely new way to draw in potential new customers. The latest advances in products could be advertised, as well as sales and new services offered. Catalogs were generally only printed by companies who could afford such a large expense, but for many families who lived in rural areas it was their only means of shopping.

Printed communication served both consumers and business owners well, but when the radio came into use at the end of the 19th century it revolutionized business communication once again. Now the products and services of every business could have been marked on the basis of mass communication. Once a household had a radio, broadcasts could reach far further than any newspaper or catalog. And it was instant. As soon as the message was spoken on the air, the word was out. When print ads were published it could sometimes take weeks or months for a response. Many entrepreneurs who saw the potential in radio became hugely successful. Their market share grows, and with it their profits.

Once radio took off, the telephone and television were not far behind. Of course, at first the telephone was not used for advertising in business, but more of a practical tool. Manufacturers could communicate with raw materials representatives, business owners could communicate with consumers and investors could …

It is exactly 100 years since the pride of the White Star Line, the RMS Titanic, hit an iceberg in the Atlantic Ocean and sank with the loss of over 1500 lives.

The centenary has prompted many insurance companies on both sides of the Atlantic to publish documents relating to the greatest maritime loss to date in relative costs, mostly showing their company's involvement with claims payouts.

When the Titanic sank on the 15th of April 1912, the Lutine Bell was run at Lloyd's of London, and a very rapid claims process was begun.

A few months earlier the ships owners, the White Star Line, had instructed insurance brokers Willis Faber and Co. To find cover for the hull, cargo, contents and personal effects of the ship. Willis Faber passed the 'slip' to their Lloyd's mercantile division where it was assessed and subsequently underwritten by multiple syndicates and insurance underwriters acting on behalf of members.

The Titanic's hull was insured for total loss for $ 5 million or just over one million pounds sterling at the exchange rate of the time. The policy also included total loss cover for cargo at $ 600,000 and contents at $ 400,000 a value equivalent to two hundred thousand pounds.

The original breaking slip passed around Lloyd's has been lost, but was photographed and can be seen in Wright and Fails book of 1928 called 'A history of Lloyd's'. It shows that seven large insurance companies took nearly forty percent of the risk between them and the other sixty percent was underwritten by over seventy individuals and Lloyd's 'Names'.

According to documents recently released by Willis the marine insurance policy cost White Star £ 7500 or $ 38,000 to insure the Titanic at a rate of 15 shillings per hundred. Modern day rates for cruise liners are significantly lower.

The Ship was significantly underinsured for a value of only five-eighths of its replacement cost. This was apparently because the owners thought the hull to be unsinkable and were prepared to bear the additional $ 3 million dollars of risk themselves.

Willis state that despite the owners belief in the vessel being unsinkable, they had trouble placing all the hull cover at Lloyd's and some forty thousand pounds was underwritten in Germany. There was also an extremely high excess or deductible of 15% of the insured value.

Four days after the Titanic sank the US senate held a preliminary investigation at the Waldorf Hotel in New York. The surviving officers of the ship presented their evidence to the panel describing the events of the sinking and signed what is called a 'protest' which enable insurance claims to be paid.

Incredibly White Star were reimbursed for the loss of the hull within seven days of the sinking, usually minus the excess, and fully paid up on cargo and contents losses within thirty days.

They were however grossly underinsured for their liability to others given the value of the people on board. Claims against the company exceeded …

As the name implies, a Credit Balance happens when excess money is collected compared to the Charges for a service rendered by the Provider. This could be due to many reasons and has to be fixed while the final steps of medical claims processing are done. The Credit Balance could be due to an excess patient payment in the form of Co-insurance or Deductible; Or it could have due to over-payments from the Insurance Payers. Let us analyze some scenarios and why it is important to be handled promptly:

Patient Credit Balance:

Patients may have paid an amount up front based on the assumption of what their Payers would cover. Once the medical claims processing is completed and the Payer pays in full, then the Patient's payment is in excess. The physician billing solution can also call the patient and give the option of adjusting this excess against future visits or sending a check. But in either scenario, the Patient's consent has to be obtained and is mandatory.

Payer Credit Balance:

Many times the Credit Balance happens because of Over-payments by the Payers. Even the Patient's Credit Balance is usually due to the Payer paid more than anticipated. In medical claims processing, it is very important to handle the payments from Payers on priority. This not only projects the correct Cash flow as a result of the physician billing solution, but also advances inflated AR. Some scenarios on Payer Credit Balances:

1) Both Primary and Secondary Payer pay as Primary
2) Payer pays more than Allowed amount by error
3) Cross-over errors, especially between Medicare and Medicaid
4) Privately purchased Plans – always pay as Primary, although there could be another Primary

Rules:

In all these instances, there are very strict guidelines and time frames within which the excess money has to be returned either to the Payer or to the Patient, as the case may be. In case of Payer errors, the Payer has to be informed of the error within 30-120 days depending on the Payer. Failure to notify within the timeframe could have been viewed as 'Fraud' by the Payer and the State with stiff penalies. If the Payers refuse the refund (as in the case of privately purchased plans), then that money belongs to the Patient and the Patient has to be notified. The medical claims processing and physician billing solution providers have to keep these requirements in mind and process the Credit Balances on a daily / weekly basis to avoid any trouble for the Provider and the Practice.

Recoupments and Offsets:

Some payers would adjust the payments for current and future claims against Credit Balances owed to other Payers which are Recoupments. When the Payers adjust the payments for current and future claims against the over-payments made in the past in their own Plans, these are called Offsets.

The best option to handle the Credit Balances is to outsource medical billing to a professional medical claims processing company.

Log on to http://www.mgsionline.com/medical-claims-billing.html to know …