By Steve Selbst bio It is important to remember that payers are large companies, with protocols, policies and business practices. As with any large company, there are bureaucracies, and they are necessary to maintain the order and success of these organizations. Therefore, the first tip is to understand that to get contracted you need to identify the right department and … [Read more...] about 5 ways to break down bureaucracies to get payer contracts
Increasing profits
How to assess the overall health of your medical practice
By Nick Hernandez bio How do you know that your overall business is healthy? How do you know that the business processes you perform are working properly? Now, how would others in your practice know? Metrics are important for a number of reasons. For starters, if you don't know how well you are doing, how do you know what to keep doing and what to change? Words without … [Read more...] about How to assess the overall health of your medical practice
Improving your revenue cycle efficiency
Modern medical practices are experiencing immense pressures as a result of increased regulatory scrutiny, changing reimbursement mechanisms, and a shift toward more patient-focused care. Revenue cycle management is particularly challenging, given all the complex rules, the number of people involved, and the tools and systems used to capture and process the information, … [Read more...] about Improving your revenue cycle efficiency
Getting that new patient info into EHR before appointment
Here are some reader tips for getting new patient information into the electronic health records prior to an appointment. They come from Tina Wheeler, Practice Manager for General and Laparoscopic Surgical Associates in Maryville, Il. This busy multi-physician general surgery office has four physicians and one nurse practitioner, with patients scheduled among these five … [Read more...] about Getting that new patient info into EHR before appointment
CMS releases 2020 Proposed Rule for the Quality Payment Program
The Centers for Medicare & Medicaid Services (CMS) has released its proposed policies for the 2020 performance year of the Quality Payment Program via the Medicare Physician Fee Schedule (PFS) Notice of Proposed Rulemaking (NPRM). Key proposals for 2020 performance year of the Quality Payment Program include: Increasing the performance threshold from 30 points to … [Read more...] about CMS releases 2020 Proposed Rule for the Quality Payment Program
MIPS bonuses are easy to earn—IF you can get into the program
The Centres for Medicare and Medicaid Services (CMS) has announced the results of 2018, Year 2 under the Merit-based Incentive Payment System (MIPS). Bottom line: The total number of clinicians participating declined from 1.06 million to 916,058. However, the success rate of participants was higher with 97.6% earning an upward payment adjustment on their Medicare Part B claims … [Read more...] about MIPS bonuses are easy to earn—IF you can get into the program
Deadline to submit a MIPS Targeted Review Request is this month
If you participated in the Merit-based Incentive Payment System (MIPS) in 2018, your performance feedback, which includes your MIPS final score and payment adjustment factor(s), are now available for review on the Quality Payment Program website. The MIPS payment adjustment you will receive in 2020 is based on your final score. A positive, negative, or neutral payment … [Read more...] about Deadline to submit a MIPS Targeted Review Request is this month
Why you need an office policy on collecting fees
Most medical practices take time once a year to create new office goals or a business plan and, hopefully, to upgrade their policy manuals. And consideration of collecting on co-pays and deductibles needs to be an integral part of that business plan, according to Michael Glass, a medical consultant with Transworld Systems Inc. (TSI). Why bother with an office policy? The … [Read more...] about Why you need an office policy on collecting fees
7 reasons to consider a physician partnership
By Nick Hernandez bio Physician partnerships are often a great idea providing you give thought to how you will structure one and why you wish to create a partnership. Sometimes physician partnerships aren't so successful—so it is crucial to choose your partner well. This is somebody who you're going to spend a lot of time with and who, like your spouse and your family, will … [Read more...] about 7 reasons to consider a physician partnership
Social media is a double win for your medical practice and your career
Digital media specialist Brittney Overstreet says social media has given word-of-mouth marketing—the oldest marketing tool—unanticipated strength that can dramatically boost your medical practice or effortlessly destroy it if you don't know how to manage it. Social media, defined as the online method for sharing information with an audience, is used by many patients to … [Read more...] about Social media is a double win for your medical practice and your career