By Mike Rigert “It was the best of times, it was the worst of times … , ” wrote author Charles Dickens in his classic novel, “A Tale of Two Cities.” While it’s certainly not the worst of times for most healthcare practices (that honor likely went to 2020-2021), things could always be better, … [Read more...] about Track these 5 metrics for practice profitability
Billing and collections
8 tips for successful collections and increased revenue
A robust collections process is essential for the financial health and sustainability of your practice. By implementing the right strategies and adopting a proactive approach, you can significantly enhance your collections efforts. Here are 8 essential tips and best practices to help you optimize collections and maximize revenue for your medical office. Verify Insurance … [Read more...] about 8 tips for successful collections and increased revenue
You don’t have to have all the answers: Use your team to solve problems
In the dynamic and ever-evolving healthcare landscape, medical offices face an array of challenges that demand efficient and innovative solutions. As the manager of a medical office, one of your most valuable assets is your team. By fostering a collaborative environment and leveraging the diverse skills and knowledge of your staff, you can effectively address specific issues … [Read more...] about You don’t have to have all the answers: Use your team to solve problems
7 strategies to maximize revenue cycle management
Optimizing revenue cycle management is essential for maximizing revenue and minimizing financial risks. By implementing strategic measures and adopting efficient practices, you can enhance the overall financial health of your medical office. Here are seven ways to optimize revenue cycle management and streamline your office's financial operations. Streamline Patient … [Read more...] about 7 strategies to maximize revenue cycle management
10 ways to get patients to pay up
Effective patient payment collection is crucial for the financial stability and success of a medical office. However, it can be a challenging task to navigate the complexities of medical billing and ensure timely payments. To enhance your medical office's patient payment collections, it is important to implement strategies that streamline the billing process, improve patient … [Read more...] about 10 ways to get patients to pay up
6 common problems in medical offices, and suggested solutions
Got a problem with your office? Chances are it's one of a half-dozen common problems for medical offices. Here are the problems and suggested solutions. 1 Streamlining Appointment Scheduling Problem: Patients often experience long wait times and confusion during the appointment scheduling process. Solution: Implement an online appointment scheduling system that allows … [Read more...] about 6 common problems in medical offices, and suggested solutions
Be smart about scheduling to retain hourly employees
Staff scheduling can significantly impact the success of your practice. While scheduling may seem like a routine administrative task, its importance in retaining your valuable hourly employees cannot be overstated. A well-designed and thoughtful scheduling system can lead to increased job satisfaction, higher productivity, and improved staff retention rates. . Depending on the … [Read more...] about Be smart about scheduling to retain hourly employees
4 strategies for more effective medical billing
By Isaac Smith The medical billing process can be a time-consuming endeavor, but there are several ways you can improve your practice’s revenue flow. Here are five strategies for increasing your medical billing efficiency. 1 Ensure transparency in payments Whether you provide in-network or out-of-network services, patients are looking for more transparency from their … [Read more...] about 4 strategies for more effective medical billing
Schedule payments to boost collections
As a manager of a medical office, you know how important it is to manage the financial health of your practice. One of the biggest challenges you face is collecting payments from patients. However, with the right strategy, you can improve your collections and ensure your practice is getting paid in a timely manner. One effective strategy for improving collections is scheduling … [Read more...] about Schedule payments to boost collections
Model Policy: Patient Billings Collection and Financial Policy
The centerpiece of juggling all of these requirements is to establish a financial policy that tells patients how they will be billed for the services they receive. In addition to laying the legal groundwork for billing and collection, including by a third party collection agency, a well-crafted financial policy plays a key role in providing effective communications with … [Read more...] about Model Policy: Patient Billings Collection and Financial Policy