By John W. McDaniel bio Given the recent disruption and decreased demand for physician office services, coupled with the foreboding predictions associated with the COVID-19 pandemic, both hospital- affiliated and private medical practices are having to adjust their operations in order to provide billable patient care services while salvaging the cash flow/liquidity of the … [Read more...] about Protecting your medical practice during uncertain times
Billing and collections
CMS to launch new MIPS Participation Framework in 2021 Performance Period
CMS is implementing a new participation framework for the Merit-based Incentive Payment System (MIPS), called the MIPS Value Pathways (MVPs), starting with the 2021 performance period. The goal of this new framework is to move away from siloed performance category measures and activities, and move toward an aligned set of measures and activities that are more meaningful to … [Read more...] about CMS to launch new MIPS Participation Framework in 2021 Performance Period
MIPS 2020 payment adjustments in effect based on 2018 performance
In July 2019, each Merit-based Incentive Payment System (MIPS) eligible clinician received a 2018 MIPS Final Score and associated payment adjustment factor(s) as part of their 2018 MIPS performance feedback, available on the Quality Payment Program website. 2020 MIPS payment adjustments, based on each MIPS eligible clinician’s 2018 MIPS final score, will now be applied to … [Read more...] about MIPS 2020 payment adjustments in effect based on 2018 performance
5 ways to break down bureaucracies to get payer contracts
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
Feds Take Down $2.1 Billion Medicare Genetic Test Fraud Scheme
You know that a branch of lab testing has gone from fad to mainstream when it becomes the subject of a major federal enforcement takedown. Accordingly, the newly announced breakup of a $2.1 billion genetic billing fraud scam, one of the largest Medicare frauds ever undertaken, signifies that genetic testing has officially arrived. Operation Double Helix Known as Operation … [Read more...] about Feds Take Down $2.1 Billion Medicare Genetic Test Fraud Scheme
Missouri staff train each other on solving the day-to-day issues
The best staff training, says a Missouri medical office manager, is the training staff give one another. At the OB/GYN office, staff do just that. They hold training sessions for one another on a "when-needed, what's-needed, and who-needs-it" basis. The office has four physicians and 25 staff. There's no set routine. The manager simply schedules an in-service whenever she sees … [Read more...] about Missouri staff train each other on solving the day-to-day issues
Do you have the ‘right stuff’ to be a successful medical office manager?
As the office manager of a medical practice, you have an opportunity to learn, grow, and make a valuable contribution. "You really get the chance to be a part of a small business and to wear a lot of different hats," says Mary Pat Whaley, co-founder and president of Manage My Practice, a medical practice consulting firm. What's more, because most physicians are not business … [Read more...] about Do you have the ‘right stuff’ to be a successful medical office manager?
A 30-day collection agency letter cuts the A/R days in Atlanta office
A four-physician surgery practice has reduced its receivables significantly with a collection approach that begins when a bill gets to be a month old. At 31 days, every account with a balance greater than $50 gets turned over to the collection agency, explains Anjelica Alston, practice manager for Piedmont Colorectal Associates in Atlanta. But there’s no actual collection … [Read more...] about A 30-day collection agency letter cuts the A/R days in Atlanta office
Use weekly meetings with doctors to keep office running smoothly
Meeting every week with the doctors makes a tremendous difference in how smoothly – and also how successfully – an office operates, says the manager of a pediatrics practice in Colorado. For her office, it's an 8 a.m. meeting every Monday, a good time, because it sets the tone for the week. It also keeps everybody on the same page. And it ensures that the doctors know all the … [Read more...] about Use weekly meetings with doctors to keep office running smoothly
This 2 step program makes it easy to collect more money at the time of service
Ask any office "how well do you collect at the time of service?" and the answer will be "outstanding!" But almost no offices can define outstanding, says Reed Tinsley, CPA, a medical practice business advisor in Houston. Here's the definition: at the time of service, the office should be getting some type of payment from 90% of the patients who can pay anything, even $1. "It … [Read more...] about This 2 step program makes it easy to collect more money at the time of service