Financial literacy is essential for the smooth operation of a medical office. When your staff understands basic financial principles, they contribute more effectively to the practice’s overall financial health. Improving financial literacy among your team not only helps in managing day-to-day tasks more efficiently but also empowers staff to make informed decisions that benefit … [Read more...] about How to help your staff become more financially literate
Increasing profits
How to be a cost-cutting genius in your medical office
Managing costs efficiently is crucial for the sustainability and success of your medical practice. As a medical office manager, you have the opportunity to implement strategic cost-cutting measures that can enhance your practice’s financial health without compromising the quality of care. Here’s how you can become a cost-cutting genius and lead your practice to greater … [Read more...] about How to be a cost-cutting genius in your medical office
Make the most of the last two weeks of August
You know that September often brings a renewed focus on appointments, billing, and patient care. The last two weeks of August, when things might be a bit quieter, offer a golden opportunity to prepare your office for the busy months ahead. Here are some good ways to make the most of this time and set your practice up for success: 1. Audit Patient Records Now is the perfect … [Read more...] about Make the most of the last two weeks of August
Six key areas for successful physician partnerships
By Nick Hernandez bio Physicians should take a measured approach to the future of their practice. Physician partnerships require much pre-planning, careful structuring, and a whole lot of continued communication in order for them to be successful. I am often asked to help a practice facilitate the undertaking of physician partnerships. It is certainly not a process that … [Read more...] about Six key areas for successful physician partnerships
How to negotiate the best possible purchasing agreements
Smart purchasing decisions help a medical practice run more efficiently, improve the practice's bottom line, and make your job easier. But what should you include in purchasing contracts and lease agreements? As important, how do you negotiate the best possible deal for the practice? Determining requirements Before you solicit bids or attempt to negotiate a contract, … [Read more...] about How to negotiate the best possible purchasing agreements
How to turn setbacks into comebacks
In the fast-paced world of medical office management, setbacks are inevitable. Whether it's a sudden staff shortage, an unexpected change in regulations, or a dip in patient satisfaction, these challenges can feel overwhelming. However, with the right mindset and strategies, you can transform these setbacks into powerful comebacks. Here's how: Embrace the Setback First things … [Read more...] about How to turn setbacks into comebacks
Effective inventory management for your medical office
Effective inventory management ensures that you have the right supplies when you need them without overstocking and wasting valuable resources. Here's how you can streamline your inventory management and keep everything running like a well-oiled machine. First things first, get organized. Start by taking a comprehensive inventory of all your medical supplies, from syringes … [Read more...] about Effective inventory management for your medical office
Avoid common medical billing mistakes to maintain revenue and ensure compliance
Medical billing is a critical component of a healthcare practice’s revenue cycle. However, it's an area rife with potential errors that can lead to delayed payments, denied claims, and lost revenue. As a medical office manager, ensuring accuracy in billing processes is paramount. Here’s a guide to common medical billing mistakes and strategies to avoid them. Common Medical … [Read more...] about Avoid common medical billing mistakes to maintain revenue and ensure compliance
Why and how to review vendor contracts annually
As a medical office manager, ensuring the smooth operation of your practice involves a multitude of responsibilities. One crucial yet often overlooked task is the annual review of purchasing vendor contracts. This process is vital not only for maintaining cost efficiency but also for ensuring compliance, service quality, and adaptability to changing needs. Here’s why and how to … [Read more...] about Why and how to review vendor contracts annually
Forget multitasking! Here are 4 ways to improve your focus and get more done
It’s a typical day at work. You’re on the computer, entering data, while you’re talking on the phone. A staff member comes to your office door, stack of papers in hand, and you motion for her to come in and put the papers on your desk. You continue your phone conversation, momentarily removing your hands from the keyboard in order look through the papers. You’re a multitasking … [Read more...] about Forget multitasking! Here are 4 ways to improve your focus and get more done