By Trent Iden bio If your organization is like most across the healthcare system, stagnant or reduced reimbursement is mangling your margins. When revenue is restricted, it becomes ever more important for physician practices to keep their revenue cycle spinning by collecting the fees due to the organization, and in a cost-effective way. Revenue cycle performance is a … [Read more...] about Overlooked opportunities within the revenue cycle: The three Ps
Increasing profits
2018 Medicare Reimbursement: Final Rule
By Elizabeth Woodcock, Guest Contributor bio Just hours within the release of the Final Rule concerning the 2018 revisions to the Quality Payment Program (QPP) on November 2, the Centers for Medicare & Medicaid Services (CMS) published the ruling that governs the Medicare Physician Fee Schedule (PFS) for the coming year. Although overshadowed by the QPP … [Read more...] about 2018 Medicare Reimbursement: Final Rule
Quality Payment Program (QPP) Final Rule Released November 2
By Elizabeth Woodcock, Guest Contributor bio According to the Centers for Medicare & Medicaid Services (CMS), flexibility is the purported theme of the QPP Final Rule, which was issued under its official title, the Medicare Program; CY 2018 Updates to the Quality Payment Program; and Quality Payment Program: Extreme and Uncontrollable Circumstance Policy for … [Read more...] about Quality Payment Program (QPP) Final Rule Released November 2
4 common mistakes that lead to high accounts receivables
By Ricki Ransom bio Now more than ever, physicians need to closely monitor the impact health insurance plans have on their revenue cycle management. The hard truth is, high AR is an indicator that RCM performance improvements should be made in your practice immediately. So what are the red flags you should look out for to lower your practice's AR? According to … [Read more...] about 4 common mistakes that lead to high accounts receivables
Concierge Medicine vs. Direct Primary Care
By Nick Hernandez bio The shortage of physicians was already an issue in the United States ... and then came the Affordable Care Act, which exacerbated the problem immensely. In fact, the Association of American Medical Colleges now estimates that there will be a shortage of 91,500 doctors by 2020. This added demand for healthcare means physicians will simply have … [Read more...] about Concierge Medicine vs. Direct Primary Care
How to write a strong collection letter
Increasing patient payments improves the practice's bottom line. But how exactly do you motivate patients to pay? To write an effective collection letter, follow these guidelines. • Make it short. Limit the letter to one page. Limit the paragraphs to two sentences. Limit the sentences to 22 words. And limit the words to three syllables. Do this and the message will be … [Read more...] about How to write a strong collection letter
Strong practice leaders understand the competition
By Nick Hernandez bio Practice managers must be keenly aware of what competing practices are doing as well as practices outside of their catchment area. Practice management requires a firm focus on the competition; identifying its strengths and vulnerabilities is crucial. Since managing a successful practice requires decision and action based on situational … [Read more...] about Strong practice leaders understand the competition
Involving staff in marketing generates good ideas and sense of teamwork
An office manager looking for ways to encourage a team atmosphere decided to ask staff to help market the Ear, Nose, and Throat (ENT) practice where they all work. The goal was to help staff see that everyone plays a key role in the four-physician, 22-staff practice. The office manager began by holding a meeting focused on the important role everyone plays in marketing the … [Read more...] about Involving staff in marketing generates good ideas and sense of teamwork
Should your physicians blog?
Blogging, when successful, results in a certain notoriety, which, in the case of a physician blogger, calls attention to his or her medical practice. Such notoriety can help market the practice and result in new patients. But there are other reasons doctors blog—and, in fact, marketing the practice isn't one of the primary reasons physicians take to the keyboard. Dr. John … [Read more...] about Should your physicians blog?
New Quality Payment Program resources are now available
The Centers for Medicare & Medicaid Services (CMS) has recently posted the following new and updated resources on the Quality Payment Program website: 2018 Self-Nomination Toolkit for QCDRs & Registries:Offers step-by-step instructions for potential Qualified Registry and Qualified Clinical Data Registry (QCDR) vendors to self-nominate to qualify for the 2018 … [Read more...] about New Quality Payment Program resources are now available