Outsourcing patient collections enables medical practices to generate needed cash flow and concentrate on clinical operations. That, at least, is the theory. But the strategy does not always work. One of the key factors of success is the actual services contract the medical practice signs with the agency. Many a medical practice has seen the anticipated benefits of outsourcing … [Read more...] about 7 terms to include in your patient debt collection agency services contract
Purchasing and leasing
Keep those payables paid with efficient procedures
Managing your medical office's financial obligations effectively not only ensures the smooth operation of your practice but also upholds its financial integrity. Here are the steps to establish efficient accounts payable procedures that help maintain financial stability, ensure compliance, and build strong vendor relationships. 1. Develop a Clear Accounts Payable Policy: … [Read more...] about Keep those payables paid with efficient procedures
Medical technology and equipment maintenance checklist
"The computer system is down," are words nobody wants to hear. Maintaining the technology and equipment in your medical office is essential to ensure smooth operations, patient safety, and compliance with healthcare regulations. Use this checklist to keep your office’s technology and equipment in optimal condition. Daily Tasks Check Electronic Health Record (EHR) … [Read more...] about Medical technology and equipment maintenance checklist
How to be a cost-cutting genius in your medical office
Managing costs efficiently is crucial for the sustainability and success of your medical practice. As a medical office manager, you have the opportunity to implement strategic cost-cutting measures that can enhance your practice’s financial health without compromising the quality of care. Here’s how you can become a cost-cutting genius and lead your practice to greater … [Read more...] about How to be a cost-cutting genius in your medical office
21 easy ways to boost practice profitability fast
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
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
Our staff fell for a cyber attack
By Lynne Curry Question: Four of our staffers fell for a cyber attack last week. They opened an email attachment they thought originated from our HR department, which regularly emails policy updates to all staff. This email had the subject line: Changes to Vacation Policies. Even though we’ve trained our staff members not to click on suspicious emails, and certainly … [Read more...] about Our staff fell for a cyber attack
Tip sheet for organizing and managing medical records efficiently
As a medical office manager, organizing and managing medical records efficiently is essential for maintaining smooth operations, ensuring patient privacy, and facilitating high-quality care. Here’s a handy tip sheet to help you streamline your medical records management: Digital Record-Keeping Invest in a Reliable EHR System: Choose an Electronic Health Record (EHR) … [Read more...] about Tip sheet for organizing and managing medical records efficiently
Effective inventory management for your medical office
Effective inventory management ensures that you have the right supplies when you need them without overstocking and wasting valuable resources. Here's how you can streamline your inventory management and keep everything running like a well-oiled machine. First things first, get organized. Start by taking a comprehensive inventory of all your medical supplies, from syringes … [Read more...] about Effective inventory management for your medical office
Best practices for managing medical billing and coding
Managing medical billing and coding can be quite the juggling act, but getting it right is crucial for the financial health of your practice and ensuring everything runs smoothly. Here are some best practices to help you streamline your billing and coding processes, complete with examples to show how it all works. First off, hire and train the right staff. … [Read more...] about Best practices for managing medical billing and coding