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
Coding
Are online coding discussions putting your practice at risk?
By Cheryl Toth, MBA bio Here's an email we recently saw while monitoring a specialty coding listserv: From: Smith, Debra (debra.smith@famousacademicinstitution.edu) Sent: Monday, June 04, 2018 2:08 PM Subject: Acromioplasty and hardware removal with total shoulder arthroplasty Hello All, We have a surgeon that says I am not an aggressive coder because I communicate to him … [Read more...] about Are online coding discussions putting your practice at risk?
6 key ingredients of a profitable medical practice
Medical office managers are often so focused on the day-to-day that it can be easy to lose sight of the big picture. That big picture is profitability—because, without it, the practice will not remain in business. Although profitability isn't rocket science—after all, only rocket science is rocket science—it does require attention to detail, or what Medical Office Manager … [Read more...] about 6 key ingredients of a profitable medical practice
Three key items to negotiate for successful payer contracts
By Steve Selbst bio The purpose of this article is to help you, as a provider, to focus on three key items to look for in payer contracts that will help you to get profitable contracts in place. The three key areas that we will examine are fee schedule amendments, lesser of billed charges vs. contracted rates, and claims' payments. 1. Fee Schedule Fee schedules … [Read more...] about Three key items to negotiate for successful payer contracts
Could your boss be the next Dr. Oz?
The medical practitioners in your office are more than knowledgeable; they are thought leaders in their respective fields. So why not share their expertise, and market the practice in the process? Seeking information People actively seek medical information. Indeed, medical websites are among the most highly used sites on the Web, books by physicians and other medical … [Read more...] about Could your boss be the next Dr. Oz?
CY 2019 List of Medicare Telehealth Services
Why you need this tool: Has your practice recently implemented telehealth? If so, you might not know which CPT codes are available for reimbursement. How this tool helps you: This list, compiled by Nick Hernandez of ABISA LLC, will show you which CPT codes are currently (2019) available. How to use this tool: Refer to this list of codes when billing for telehealth services. … [Read more...] about CY 2019 List of Medicare Telehealth Services
Simple but workable ways to improve collections
What's the cause of poor collections? Don't blame it on the office, says one collections expert. Sadly, the underlying reason for poor collections is today's all-too-common attitude that bills don't deserve respect. In the past, people were proud to pay their bills. No more. A bill that can be avoided gets avoided. And along with that, "the world has changed," says … [Read more...] about Simple but workable ways to improve collections
4 steps to preventing medical claim denials
By Ricki Ransom bio It's no secret that the relationship between health care providers and insurance companies is complicated. Healthcare providers are spending a significant amount of time and energy with patients just to find out that an insurance company will fight them on paying for the services provided. Preventing claim denials helps ease the complications … [Read more...] about 4 steps to preventing medical claim denials
Should your practice invest in medical billing software?
By Aiden Spencer bio There has been considerable debate among physicians about whether or not it is beneficial to get an EHR (electronic health record). If your practice is having this debate, let's evaluate the benefits and problems associated with an EHR and see if one is right for you. [Full disclosure: I have abundant experience in the field because I am working for a … [Read more...] about Should your practice invest in medical billing software?
How to deliver a great presentation on any topic
To grow in the job, a manager has to communicate ideas and visions and recommendations. And the presentation of them counts. "It doesn't matter how good the idea or how brilliant the insight," if it isn't well articulated, it fails, says Patricia Fripp, CSP, CPAE, a San Francisco executive speech coach. Worse, the manager's career can fail right along with it. Here are the … [Read more...] about How to deliver a great presentation on any topic