If you participated in the Merit-based Incentive Payment System (MIPS) in 2019, your performance feedback, including your MIPS final score and payment adjustment factor(s), is now available for review on the Quality Payment Program website. This final score determines the payment adjustment you will receive in 2021, with a positive, negative, or neutral payment adjustment … [Read more...] about Deadline Oct. 5 to ask for MIPS targeted review
Increasing profits
Life science companies and healthcare providers partnering for value-based patient care
By Mal Milburn bio In the era of value-based reimbursement, healthcare professionals are constantly evaluating strategies to improve patient care while simultaneously decreasing overhead costs. Increasingly, medical practices turning to life science reps as a critical part of the answer. According to recent research from DRG Digital Manhattan Research, 74% of … [Read more...] about Life science companies and healthcare providers partnering for value-based patient care
Five ways to boost practice efficiency on a shoestring budget
By Karen Mattocks bio It is every manager’s mantra: ‘Do more with the same number of staff.’ Translation? See more patients. Submit more claims. Generate more revenue—all while providing high-quality, low-cost care. How do successful managers accomplish this? They remove the organizational-level barriers that drain productivity, says Michael Mankins, co-author of Time, Talent, … [Read more...] about Five ways to boost practice efficiency on a shoestring budget
7 free or low-cost ways to increase practice efficiency
By Jeremy Gilman bio It is a question practice managers ask themselves daily: ‘How can I accomplish more tasks using the same—or even fewer—resources?’ Times are tough. For many providers, increased access to healthcare care under the Affordable Care Act has translated to increased patient volume, and not every practice is equipped to handle the demands. Couple this with … [Read more...] about 7 free or low-cost ways to increase practice efficiency
5 ways to break down bureaucracies to get payer contracts
By Steve Selbst bio It is important to remember that payers are large companies, with protocols, policies and business practices. As with any large company, there are bureaucracies, and they are necessary to maintain the order and success of these organizations. Therefore, the first tip is to understand that to get contracted you need to identify the right department and … [Read more...] about 5 ways to break down bureaucracies to get payer contracts
How to assess the overall health of your medical practice
By Nick Hernandez bio How do you know that your overall business is healthy? How do you know that the business processes you perform are working properly? Now, how would others in your practice know? Metrics are important for a number of reasons. For starters, if you don't know how well you are doing, how do you know what to keep doing and what to change? Words without … [Read more...] about How to assess the overall health of your medical practice
5 purchasing tips that can save money for your medical practice
Cutting purchasing costs doesn't have to be difficult. Here are five approaches to purchasing your medical practice should consider. 1 Join other offices and take advantage of group discounts. Because the group represents a lot of business, it can tell a vendor it will use it exclusively in exchange for an overall, sizeable discount. The group can also get individual … [Read more...] about 5 purchasing tips that can save money for your medical practice
Employee incentive program increases number of patient well exams—and practice revenue
Pediatric Medical Group of Santa Maria, located in Santa Maria, CA, has found a way to quadruple the amount of well child and well baby exams at its office. "In the past, we always ran a recall report and had our staff call patients that were due for well exams," Camille Gamble, practice manager, tells Medical Office Manager. Although the process seemed to work okay, … [Read more...] about Employee incentive program increases number of patient well exams—and practice revenue
Don’t put your vendor contracts on autopilot
It's easy, to say nothing of convenient, to get comfortable with business relationships and not to question what the vendors are doing. But in the meantime those vendors have every ability to slip in added costs the manager does not notice. Don't just renew vendor contracts automatically. The practice can often save money and get better service by putting those contracts out … [Read more...] about Don’t put your vendor contracts on autopilot
These 7 ergonomic basics can make your staff healthier and happier
Ergonomics is good economics. When the work areas are in sync with the people spending their days in them, there's no time lost to sick days and no money lost to low productivity, says Hayley Kaye, a certified professional ergonomist with HLK Consulting in New York City. Achieving that calls for attention to the desks, telephones, and chairs. But it also calls for teaching … [Read more...] about These 7 ergonomic basics can make your staff healthier and happier