Furthering the goals of focusing on patients, coordinate health care delivery, and making health information more accessible, the U.S. Department of Health and Human Services (HHS) has launched a new challenge for all stakeholders in health care—designing a better medical bill that is easier for patients to understand. The HHS press release regarding the challenge notes … [Read more...] about Industry challenged to create more patient-friendly medical billing
Increasing profits
Incorrect medical coding corrupts the core data used by health care facilities, has negative consequences throughout health care industry
Guaranteeing accurate, consistent medical codes and patient histories is one of the major challenges for providers and payers today. Medical codes are the starting point for understanding quality of care and making necessary improvements. "Medical codes are the core data used in every aspect of modern health care—every provider, payer, and facility relies on them," says … [Read more...] about Incorrect medical coding corrupts the core data used by health care facilities, has negative consequences throughout health care industry
How to keep the cash coming in
When the office is busy but the cash flow is slow and the work isn't translating into net income for the physicians, look first to the billing and collections work. Almost always, that's where the failing lies. To keep the cash flowing, the office has to keep constant tabs on those two operations. Yet most offices don't. They just wait until they run out of cash. Here is how … [Read more...] about How to keep the cash coming in
Increased adoption of HIPAA electronic claims-related processes can save more than $8 billion annually
The U.S. health care system is unnecessarily spending billions of dollars each year by continuing to use manual administrative processes for basic transactions, according to the 2015 CAQH Index®, a report from CAQH, a non-profit alliance and leader in creating shared initiatives to streamline the business of health care. Despite steady increases in industry adoption of … [Read more...] about Increased adoption of HIPAA electronic claims-related processes can save more than $8 billion annually
Michigan office uses online payments to increase revenue
A Michigan medical practice that added online bill payments to its website is seeing a substantial increase in revenue. To introduce the new process, the office put signs in the waiting room and a notice in statements. The company's practice administration said it took awhile to catch on but it worked because patients are already comfortable with online payments. They … [Read more...] about Michigan office uses online payments to increase revenue
New study finds connection between resilience and positive business outcomes
Today's employers are challenged to provide competitive benefits and employee engagement strategies that not only support the well-being of their employees, but also improve the bottom line. With resilience building and mindfulness training programs continuing to gain momentum in the workplace, meQuilibrium, recently conducted a study to measure resilience against … [Read more...] about New study finds connection between resilience and positive business outcomes
Office efficiency, profit often depend on surprising issues
By Dr. Steve M. Cohen Once upon a time, medical offices could count on such a solid, even lucrative income stream that some minor problems, even considerable costs, could be accepted. That's not been true for a long time. Increasingly complex and intrusive regulation, rising insurance costs, and an increasingly litigious environment are now accompanied by reduced and delayed … [Read more...] about Office efficiency, profit often depend on surprising issues
Model Tool: Sample patient letters – missed appointment
Why you need this model tool: Missed patient appointments affect scheduling and negatively impact practice revenue. Therefore, you want to let patients know that the practice takes missed appointments seriously – and you want to put it in writing. How this model tool helps you: Here are two sample letters that will help you communicate with patients; the first is for a first … [Read more...] about Model Tool: Sample patient letters – missed appointment
Medical practice staffing trends
Effective medical office management requires staying abreast of staffing trends. With this in mind, Medical Office Manager takes a look at the trends most likely to impact your practice. Physician shortage According to projections by the Association of American Medical Colleges (AAMC), the United States faces a shortage of more than 90,000 physicians by 2020 and 130,000 … [Read more...] about Medical practice staffing trends
Colorado practice cuts costs by hiring IT staffer
Manager Arlene Zimmerman had an IT cost awakening when the computer went down. She called in the vendor's tech support and paid $100 to find out the computer was simply unplugged. "I told myself 'never again!'" says Zimmerman, who manages four-physician Colorado Springs Family Practice in Colorado Springs, CO. So she started on a path of building up as much IT support as … [Read more...] about Colorado practice cuts costs by hiring IT staffer