Being proactive vs. reactive with tax planning will have a tremendous impact on profitability and long-term wealth creation. Keep in mind, I am not a CPA and I am not giving tax advice. Rather, I’m passing on information that I learned as a practice owner and now implement in my financial planning practice. While not an exhaustive list, here are a few items to contemplate in 2025 as you watch the dollars in your practice.
390,000 Patients vs. 38 Who Received Chiropractic Care!
I have written several articles about the lawsuit ACA filed against HCFA over the Medicare issue. The lawsuit warrants yet another article, but this one is going to be short. I want to make a point that I believe strongly demonstrates the importance of the lawsuit.
One of the key points in the lawsuit is that because of HCFA's illegal regulation, non-chiropractors are allowed to render spinal manipulation to Medicare patients in HMOs, and chiropractic care rendered by chiropractors is being eliminated. Nothing drives that concern home like the following information ACA recently received.
The ACA, using the Freedom of Information Act, requested how much chiropractic care was being provided to Medicare patients in large HMOs. Here's just one example: PacifiCare of California reported they had 390,000 Medicare beneficiaries enrolled in its plan in 1996. Are you sitting down? Of those 390,000 members, only 38 received chiropractic care, and we don't even know if a doctor of chiropractic performed those 38!
Your support of this lawsuit is critical to its success. Send your checks to ACA's HCFA lawsuit:
Legal Action Fund/
HCFA Lawsuit
P.O. Box 75359
Baltimore, MD 21275