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Home » topics » Billing & collections
MANAGING THE OFFICE

17 projects for the last quarter of 2023

4:34 pm by

As we start the last quarter of the year, it’s time to plan the projects that need to be done before we close out 2023. Here’s a list to consider. Financial Review: a. Review the year-to-date financial statements to assess the financial health of the practice. b. Prepare a budget for the upcoming year, considering revenue, expenses, and capital investments. Insurance Contracts: a. Review and negotiate contracts with insurance providers for the next year. b. Ensure that all current contracts are up to date and compliant with regulations. Staff Evaluations: a. Conduct performance evaluations for staff members. b. Set goals and expectations for the upcoming year. c. Identify training and development needs for staff. Compliance and Regulatory Updates: a. Ensure that the practice is up to date with all healthcare… . . . read more.

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YOUR CAREER

Getting your head back in the game after summer vacation

8:28 pm by

It can be hard to come back to the office after the fun and relaxation of summer vacation. Consider these tips for a smooth transition and an efficient workflow. Reconnect with the Healthcare Team: Upon your return, schedule meetings with key healthcare professionals and staff members. Discuss any recent changes, updates, or challenges that occurred during your absence. Understanding the current status of ongoing projects and addressing any concerns will help you get back up to speed. Prioritize Patient Care and Appointments: The heart of a medical office is patient care. Begin by reviewing upcoming patient appointments, follow-ups, and medical procedures. Ensure that the schedule is well-organized, and all necessary preparations have been made to provide optimal patient experiences. Address Administrative Tasks: Medical office managers handle a wide range of… . . . read more.

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INCREASING PROFITS

Could you be doing more to make your accounts receivable less?

5:44 pm by

The financial health and stability of your medical practice depends on keeping receivables low and effectively managing outstanding balances. By implementing strategic practices and fostering a patient-centric approach, you can maintain low receivables while promoting a positive patient experience. Here are some strategies to achieve this: 1. Establish Clear Financial Policies: Set clear and comprehensive financial policies from the outset, covering topics such as payment methods, insurance billing procedures, and expectations for timely payments. Communicate these policies to patients during the registration process and provide written materials that outline the office’s financial guidelines. Ensure that patients are aware of their financial responsibilities before receiving any medical services. 2. Verify Insurance Coverage and Eligibility: Before rendering services, verify patients’ insurance coverage and eligibility. Accurate verification will prevent potential claim denials and… . . . read more.

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MANAGING THE OFFICE

Checklist: Is the office ready for your summer vacation?

9:34 am by

Your long-awaited and well-deserved summer vacation is approaching. Is your staff prepared to run the office smoothly in your absence? Use this list to see if you have the bases covered. Vacation Preparation Checklist for Busy Medical Office Managers Delegate Responsibilities: Identify competent staff members to handle key tasks during your absence. Assign specific responsibilities to individuals based on their expertise and capabilities. Create Detailed Instructions: Document step-by-step procedures for each delegated task. Include contact information for key personnel and relevant resources. Provide guidelines and protocols for common office procedures unique to the medical office. Conduct Training Sessions: Organize training sessions for staff members taking on additional responsibilities. Address any questions or concerns they may have and ensure they feel confident in their roles. Patient Appointments and Scheduling: Review and… . . . read more.

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BILLING AND COLLECTIONS

10 ways to get patients to pay up

6:43 pm by

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 communication, and prioritize financial transparency. Consider these tips to help your medical office boost its patient payment collections. Educate Patients About Financial Responsibility: To establish a solid foundation for successful payment collections, educate patients about their financial responsibilities from the outset. Clearly communicate your office’s payment policies, insurance coverage, and any upfront costs patients may incur. Utilize patient intake forms, brochures, and your website to provide detailed information about billing and payment expectations. Verify Insurance… . . . read more.

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MANAGING THE OFFICE

6 common problems in medical offices, and suggested solutions

10:29 am by

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 patients to book appointments conveniently. Additionally, analyze the scheduling process to identify bottlenecks and inefficiencies, and create a more streamlined system. Consider using automated reminders to reduce no-shows and ensure a more efficient patient flow. 2 Improving Patient Satisfaction Problem: Patient feedback indicates dissatisfaction with long waiting times in the reception area. Solution: Conduct a time-motion study to identify areas where the patient flow can be optimized. Implement strategies such as staggered appointments, improved communication between staff members,… . . . read more.

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BILLING & COLLECTIONS

CMS posts info on the No Surprises Act for patients

6:16 pm by

The Centers for Medicare & Medicaid Services (CMS) made available new consumer-friendly web pages for people with easy-to-read information regarding the consumer protections in the No Surprises Act. The No Surprises Act protects people covered under group and individual health plans from receiving surprise medical bills when they receive most emergency services, non-emergency services from out-of-network providers at in-network facilities, and services from out-of-network air ambulance service providers. It also establishes an independent dispute resolution process for payment disputes between plans and providers, and provides new dispute resolution opportunities for uninsured and self-pay individuals when they receive a medical bill that is substantially greater than the good faith estimate they get from the provider. Unexpected medical bills are a significant source of stress, frustration, and confusion for people in the United States. The… . . . read more.

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RETAINING STAFF

Be smart about scheduling to retain hourly employees

5:20 pm by

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 size and structure of your practice, you might have some of these staff members on hourly wages instead of monthly salary—receptionist, medical assistant, billing and coding specialist, medical transcriptionist, records technician, medical equipment tech, office cleaner and office assistant. Good scheduling practices could give them: Consistency and predictability By providing consistent and predictable work schedules, you demonstrate your commitment to fairness and respect for your employees’ time. Hourly employees often face challenges in balancing their work and… . . . read more.

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BILLING & COLLECTIONS

4 strategies for more effective medical billing

3:32 pm by

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 healthcare providers. They want to know what they can expect and what is included in the price tag. And they are willing to pay for it if you deliver on your promises. One of the most important aspects of medical office administration is billing and collections. A good revenue cycle tool will help you to be more transparent by generating reliable out-of-pocket cost estimates at the time of service, as well as helping you to identify… . . . read more.

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PURCHASING

9 things to know about billing software

10:55 am by

The large majority of medical offices use billing software. If you haven’t made the leap to billing software yet, or if you are shopping for a new software vendor, here are things to know. With billing software, you can automate the entire billing process, from sending out invoices to processing payments. This can save you a lot of time and reduce the risk of errors. This starts with shopping for medical billing software. s a medical office manager, there are important factors to consider before purchasing medical billing software. To choose the best software for your small practice, consider the following factors: Budget: Determine your monthly and annual budget for the software and whether you prefer a monthly or annual payment structure. Practice Management Software: Decide if a comprehensive practice… . . . read more.

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