Simple changes to billing procedures, hiring policies, purchasing, patient relations, and other daily activities can have a positive impact on your practice's bottom line. Here are 21 ways you can quickly boost practice profitability. 1. Name a reimbursement coordinator To get all the reimbursement possible, hire or appoint someone to be a reimbursement coordinator. It … [Read more...] about 21 easy ways to boost practice profitability fast
Increasing profits
How to negotiate the best possible purchasing agreements
Smart purchasing decisions help a medical practice run more efficiently, improve the practice's bottom line, and make your job easier. But what should you include in purchasing contracts and lease agreements? As important, how do you negotiate the best possible deal for the practice? Determining requirements Before you solicit bids or attempt to negotiate a contract, … [Read more...] about How to negotiate the best possible purchasing agreements
Six key areas for successful physician partnerships
By Nick Hernandez bio Physicians should take a measured approach to the future of their practice. Physician partnerships require much pre-planning, careful structuring, and a whole lot of continued communication in order for them to be successful. I am often asked to help a practice facilitate the undertaking of physician partnerships. It is certainly not a process that … [Read more...] about Six key areas for successful physician partnerships
How to navigate insurance contracts
Reviewing and negotiating insurance contracts and ensuring compliance with regulations are indispensable tasks for medical office managers. These efforts not only impact the financial stability of the practice but also contribute to the quality of patient care. By approaching these strategically, medical office managers can secure favorable terms, optimize provider networks, … [Read more...] about How to navigate insurance contracts
3 steps to set up your strategic planning process
By Nick Hernandez bio There are many different models and action steps for strategic planning. Attempting to "jump right in", however, is ill-advised. Undertaking some basic pre-work will help to ensure better success for the strategic planning process. Here are three prerequisites for strategic planning: 1. Agree on a strategic planning process You should provide … [Read more...] about 3 steps to set up your strategic planning process
5 quick ways to make your waiting room more welcoming
A full office makeover may not be possible, but every medical practice can make improvements to its patient waiting room. 1 Keep it clean All places of business should be clean, but arguably none more than a medical practice waiting room as it speaks to the quality of care. Take a look around. Are the windows and doors clean? Is there dust on the tables? Does the … [Read more...] about 5 quick ways to make your waiting room more welcoming
Is healthcare SEO really worth the investment?
Years ago, planning a marketing campaign was a simple process. With fewer mediums available to reach potential clients, it was more about how much to spend and less about where to invest those resources. Today, though, the healthcare digital marketing landscape has changed dramatically. Instead of just print options, we now have things like pay-per-click (PPC), search engine … [Read more...] about Is healthcare SEO really worth the investment?
Attract new patients and keep old ones with a marketing strategy
In the ever-evolving healthcare landscape, attracting and retaining patients is vital for the success of your medical office. As a medical office manager, it's your responsibility to lead your team in developing an effective marketing plan for the coming year and continually evaluate and adjust your current strategies. Develop a Marketing Plan for the Next Year A … [Read more...] about Attract new patients and keep old ones with a marketing strategy
Strategies to stay on top of insurance denials and appeals
Denials from insurance companies can be frustrating and costly for both your practice and patients. However, a well-organized approach to handling denials and appeals can significantly impact your revenue and patient satisfaction. In this article, we will provide you with valuable advice on managing denials and appeals effectively. Understanding Denials Before delving into … [Read more...] about Strategies to stay on top of insurance denials and appeals
Track these 5 metrics for practice profitability
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