Frequently Asked Questions (FAQs)
We are your go to partner for answers to questions about Tax & Accounting, Financial Education, and other Advisory Services to include healthcare compliance, medical credentialing, contracting, policies and procedures, workforce training and many more.
General FAQs
Q: Who is The WiseAnt Group?
A: The WiseAnt Group, LLC is a Tax, Accounting, Financial Education, Healthcare Compliance, Medical Credentialing and Advisory Services Firm. We are committed to being a proactive force in today’s reactive economy. We specialize in developing forward-thinking solutions for our clients across the United States and around world.
Q: What is your pricing structure, do you charge by the hour?
A: Our Service Packages are built around the unique needs and goals of our clients. During our free initial discovery meeting, we review your needs and provide you with a proposal that is customized to you or your business’s needs. We charge a nominal monthly fee of $9.99 (adults) and $4.99 (Youth and Young Adults) for our Online Financial Education Programming. You can register at any time to access our self-paced growing library of financial education courses and topics to help you meet your financial and money management goals.
Q: Do you charge for an initial consultation?
A: We offer a Complimentary initial consultation. During this initial Virtual Discovery Session, we identify your needs and determine whether we are a good fit for you and what services would make sense for your situation. Following the initial consultation, we will send you a Proposal and Engagement Letter in order to get started.
Tax & Accounting FAQs
Q: I do not own a business, do you offer Individual Tax Preparation?
A: Yes, we offer Tax Preparation for Individual Clients.
Q: What if I just have a “quick” one-off question?
A: Most Tax Laws have special rules and exceptions which need to be carefully considered as part of your tax strategies. Providing generic answers to an Accounting or Tax question can be detrimental to your situation and have negative long-term impacts. As such, our firm’s policy is not to answer one-off questions until we have established an ongoing engagement and have a good understanding of your entire financial picture. This allows us to provide you with tax planning solutions for your unique situation.
Q: Do you offer Virtual Accounting and Tax Services?
A: Yes, our Firm primarily offers virtual Accounting and Tax Services. In fact, in most cases, we already work with most of our clients in a virtual capacity, or go to our clients to assist them with all of their Tax and Accounting needs.
Q: How do you meet your clients virtually?
A: We use video conference and screen-sharing technology to interact with our clients.
Q: How do we exchange sensitive documents?
A: All sensitive documentation is sent and received through our secure portal with multi-layer encryption technology to keep your information safe and confidential.
Q: What are the benefits of working with an Accountant vs. managing my own Accounting and Tax?
A: Accounting and Tax compliance are an essential part of running your business. While DIY Accounting and Tax Software might appear to be “easy” to use, without a background in Accounting and Taxation, you could be making some costly mistakes that could result in penalties and fines.
Q: What makes your approach to Accounting and Tax different from other firms?
A: We don’t just focus on compliance work by maintaining your accounting records and filing your tax returns. We focus on identifying planning opportunities and tax reduction strategies before tax season.
Q: If I get audited by the IRS, can you represent me?
A: Our firm can represent you before all administrative levels of the Internal Revenue Service for audits, collections, and appeals.
Q: Should I work with an Accounting Firm if I am starting a new business?
A: We highly suggest you contact an accountant if you are starting a new business. We can help you evaluate the organization of your company for tax purposes as well as numerous other issues related to the operations of your business. Without this critical advice, you could be making decisions that could result in fines, penalties, and higher tax liabilities.
Q: How do I know which Accounting Firm is best for me?
A: When choosing an Accounting Firm, you should do so not based on pricing but on the type of engagement you are looking to establish with your Accountant. Are you looking for an Accounting Firm that can be a trusted advisor? Are you looking for an Accounting Firm that takes a proactive approach to your financial needs? If you answered yes to these questions, then contact us for a consultation.
Q: What accounting system do you use?
A: We have experience with most accounting software such as QuickBooks, Xero, Sage Intact or Sage 100, Budget Maestro and many more.
Financial Education FAQs
Q: Will I meet with my Financial Education Instructor in-person or virtually?
A: We make every effort to connect you with a financial education instructor you can meet in person, if needed. However, most of our courses are done virtually, except our conferences and in-person seminars. All of our instructors are able to work with any client on a remote basis through video conferencing, phone and other communication methods.
Q: Do you have a requirement for the number of employees for the Employee Wellness Program?
A: Depending on the size of your organization, a WiseAnt Financial Wellness Instructor will work closely and confidentially with your employees in a way that makes them feel confident and empowered to take the next steps, and to live life with “financial dignity.” This personalized sessions guide employees to develop plans of action around managing debt, budgeting, saving or investing to improve their overall financial health.
Q: Should I use this program for all employees?
A: This program is ideal for all employees, but specifically those who live and survive paycheck to paycheck and are unable to weather an unplanned expense or financial shock or have no investment plans for retirement.
Q: Will I need to pay for this?
A: For a nominal monthly fee of $19.99, you would have year-round access to all our programs and resources online, which helps subsidize our School Youth Programs and Non-Profit (www.dreamtoday.org) activities. Students who wish to register to have year-round access to all our programs and resources online may do so by paying a discounted monthly price of $9.99 or a flat annual fee (See our Financial Education Pricing Options).
Q: How do I sign-up?
A: You can sign-up by using the registration form on our website to access our virtual or on-demand financial education courses anytime. By registering, you would have access to our online platform to continue your journey to ditch debt, save money and start building generational wealth! Employers, Schools, Nonprofit Organizations or Churches can contact us for our customized programing rates or workshops / seminars or keynote speaker services. Contact us to see how we can help.
Q: How do I know that the WiseAnt Finance Education Programs will work for me?
A: As long as you are focused and ready to turn your finances around as a WiseAnt, we can make a huge difference in changing your financial situation.
Q: What if I’m in debt?
A: Ultimately, you want to get out of debt and become better at managing your money – The WiseAnt Group will guide you through that. Take advantage of our financial courses to help you, as you work towards your financial success!
Q: How long do I have access to the personal finance courses?
A: Annually, and for as long as our courses are available.
Q: How can I access the content?
A: However you like! You can access it on your computer and on your mobile devices.
Q: How long does it take to complete a course?
A: Our courses are bite-sized and easy to digest. You can complete a course in 20 minutes to just a couple of hours depending on the course and action steps you need to take.
Q: What if I live outside the US?
A: There are currently WiseAnts on our platform from different parts of the world including the UK, Mexico, Canada, Switzerland, South Africa, Ghana, Australia, Nigeria, Spain, France and many more countries not listed. While the content of our courses is applicable to everyone, some content refers specifically to tools and options available in the US which you can easily research if you are outside the US, however, if you have specific questions, you can ask them in our amazing WiseAnt Community.
Healthcare Compliance FAQs
Q: What Is Healthcare Compliance?
A: Healthcare compliance is the ongoing process of meeting, or exceeding the legal, ethical, and professional standards applicable to a particular healthcare organization or provider. Healthcare compliance requires healthcare organizations and providers to develop effective processes, policies, and procedures to define appropriate conduct, train the organization’s staff, and then monitor the adherence to the processes, policies, and procedures. Healthcare compliance covers numerous areas including, but not limited to, patient care, billing, reimbursement, managed care contracting, OSHA, Joint Commission on Accreditation of Healthcare Organizations, NCQA, and HIPAA privacy and security to name a few.
Q: Who Is Responsible for Healthcare Compliance?
A: The governing body of a healthcare organization is responsible for the conduct of the organization. Consequently, the governing body and the executive officers of the healthcare organization will bear the ultimate responsibility for a healthcare organization’s compliance, or lack of compliance. The organization’s governing body is responsible for directing the organization’s administrators to develop and implement the organization’s compliance program, as well as authorizing funds to accomplish the task.
Q: When Is Healthcare Compliance Required?
A: Every healthcare organization and provider is required to have a compliance program immediately. In fact, every healthcare organization and provider should have already established a healthcare compliance program. A large healthcare organization must have a comprehensive compliance program involving numerous individuals from multiple disciplines. Federal and state healthcare laws and regulations change constantly and the interpretation of those laws and regulations changes just as frequently. Effective healthcare compliance must be an ongoing process of continually reviewing and updating the processes, policies, and procedures of the organization. The organization also must continually update the training provided to its employees based upon changes in the regulations.
Q: Why Is Healthcare Compliance Important?
A: Ultimately, the purpose and primary benefit of healthcare compliance is to improve patient care and safety. Patient care is improved when healthcare decisions are based upon appropriate and current clinical standards. Patient care decisions based upon improper motives rarely results in the delivery of quality care. Healthcare compliance also aids healthcare organizations and providers in avoiding trouble with government authorities.
Q: Compliance Challenges for Organizations and Providers
A: It is nearly impossible to overstate the complexity of healthcare compliance. The avalanche of laws, rules, regulations, and standards that apply to healthcare organizations and healthcare providers is daunting. Healthcare organizations and providers need an individual, or individuals, that can assist them in the development, implementation, and management of an effective healthcare compliance program.
The chief compliance officer is the point person that makes sure the healthcare compliance program is kept current, including all the policies and procedures that are part of the compliance program. In a large healthcare organization that job cannot be accomplished by a single individual. Large organizations will require multiple individuals, and whole departments devoted to healthcare compliance. Healthcare compliance is cumbersome, perhaps overly cumbersome, but it is here to stay.
Q: We are a small group; can we afford a custom compliance program?
A: Yes. Our pricing is scaled based on the types of services needed and the number of users, if applicable. This allows small groups to have access to the same program and level of support as medium and large health care organizations.
Q: Do my employees have to be trained each year?
A: Yes. Within the healthcare industry, there are statutes that support the need for annual training on HIPAA, OSHA, and Corporate Fraud, Waste & Abuse regulations.
Q: How do you sign up for your services?
A: You can sign up for services by calling us or completing our contact form to begin the process. As our partner, you work with and are assigned an account manager who is responsible for understanding your needs and program requirements, contracting and for your billing.
Q: What if I get audited?
A: Whether a client is going through a HIPAA, OSHA Inspection, OIG, or other healthcare audits, The WiseAnt Group is available to provide audit support and advisory services and can help clients through audits.
Q: Do you come onsite?
A: To keep the costs down, we generally like to work with our partners remotely through phone, email, and online conferencing, but we are available to come onsite to perform setups or mock audits and workforce training, if needed.
Credentialing FAQs
Q: What is credentialing?
A: The credentialing process is the health care industry standard to collect and verify each health care professional’s qualifications.
Q: Why is credentialing important?
A: Credentialing assesses qualifications, relevant training, licensure, certification and/or registration to practice for each health care professional who participates in a health plan’s networks and/or holds privileges in a hospital or health system. This process ensures patient safety and quality of care being provided to patients.
Q: When does credentialing occur?
A: Credentialing occurs before a health care professional is considered eligible to participate in a health plan’s network or granted privileges to see patients in a hospital or facility.
Q: Who sets credentialing standards and criteria?
Q: Credentialing standards are set by the National Committee on Quality Assurance (NCQA), as well as specific state and federal regulations for participation in the Medicaid and Medicare programs. Most credentialing processes comply with these standards. Some states may have additional requirements as part of the credentialing and recredentialing process.
Q: How long does the credentialing process take?
A5: Commercial insurance carriers or health plans vary widely in their turnaround time of your requests for credentialing and contracting. Most major carriers can complete the process in 90 – 120 days. Smaller regional or local plans may take even longer.
Medicare and Medicaid applications may take 30 to 90 days to be approved, even though we’ve seen some applications submitted approved within a week. Note: Application for Medicaid participation is usually contingent upon participation in Medicare.
Commercial carriers do not allow for retroactive billing. Until you have a complete contract and are listed “In-Network” in the carrier claims system then you will not receive in-network reimbursement for your claims. While billing out of network, your patients will receive a much higher bill for your services and possibly be responsible for 100% of your charges.
Q6: Can The WiseAnt Group make the credentialing process quicker?
A6: YES. Even though we cannot make insurance companies process your credentialing application any faster than they normally would, we understand the process well and avoid mistakes often made by providers attempting to handle the process themselves, thereby improving the credentialing time. Our efficiency in managing the overall process, preparing the initial credentialing applications, and regular follow-up on submitted credentialing applications with carriers helps us cut down on the time it takes to get you approved and considered in-network.
Other Advisory Services FAQs
Contact us today to see how we can use our solutions backed by over 30 years of combined experiences to help you and/or your organization. We are thrilled to answer any questions you have about The WiseAnt Group, and the ways we can help meet your needs.
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