When should you seek the assistance of a billing service and what should you look for? Best-in-class billing services do far more than just process claims. They follow up with insurance companies, appeal denials, work rejections, no-pays and slow-pays; they offer tools to boost your revenue; they manage patient payment plans, and monthly statement cycles.
Medical practices of all sizes are increasingly caught in a cost/reimbursement squeeze that impacts your productivity and profitability. For example, over the past decade gross fee-for-service (FFS) collections have declined nearly 9% while total operating costs are up nearly 52%, reducing gains in medical revenue after operating costs by over 14%.
Attracting and keeping patients is critical for a thriving practice but recent patient satisfaction surveys show there’s a lot of frustration out there. Private practitioners who put patient satisfaction at the top of their list are going to see their practices grow, revenue increase, and happily maintain their independence. It’s important to understand what makes … Continued
Starting and running an independent medical practice is more viable than it has ever been before, especially when you’re equipped with state-of-the-art technology.
Two years ago, the American Medical Association (AMA) created a committee to provide recommendations on how to improve the usability of electronic health records (EHR). Their list outlined eight areas where improvements were needed to stop the disruption that resulted from the Meaningful Use EHR requirement. It’s time to revisit how EHR systems are doing … Continued
AdvancedMD spends tens of millions of dollars annually to keep current on regulatory changes, such as MACRA, MIPS, Meaningful Use, ICD-10, as well as feature enhancements, functionality, security, and infrastructure of the AdvancedMD software suite. There are three dedicated development tracks for practice management, EHR and patient engagement software. Learn why having an integrated clinical & billing … Continued
To remain independent, your private practice needs to run like a well-oiled machine, delivering quality patient care while thriving financially as a business. Physicians, front office and back office personnel all play critical roles. Most small practices can’t afford a large staff, so it’s important that those you do employ work as efficiently as possible. … Continued
A new year is a good time to develop a solid strategic plan, one that identifies goals, processes, and the unique needs of your practice. Taking the time to evaluate your administrative, clinical, and financial performance of the past year will help you more effectively chart a course for a prosperous future. Make this year … Continued
Telemedicine is an attractive new care model–the growth potential is great, it’s easy to adopt, and so far patients are very happy with it. Telemedicine is proving to be an ideal format for improving patient engagement and is creating a greater demand for services. That’s strong incentive for private practices to embrace this new frontier of healthcare.
Patient appointments are the gateway to your practice’s revenue. If scheduling and appointments aren’t managed well, you’re going to have holes in your schedule…and your bank account.
Patient turnover threatens the financial stability of private practices. Studies have shown patients rarely leave a practice due to distrust in a physician’s skills, but rather due to frustrations with office procedures and staff. With several economic factors impacting small private practices, fostering loyalty with patients is more important than ever. Physicians must find ways to improve the … Continued
Patient satisfaction doesn’t only impact the financial stability of your private practice, it also affects patient healthcare outcomes. Today’s patients want—and expect—their healthcare provider to run an efficient practice.
Jed Shay, MD
The Pain Care Center
Keith Berkowitz, MD
Center for Balanced Health
Estaban Lavato, MD
La Loma Medical Center
Raju Raval, MD
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