Want to scale your practice 25% over the next 12 months?
Here’s a common road map:
Month 1 – Bring on another doctor
Month 2 – Open a new location
Month 3 – Accept new patients and new insurances; offer concierge services
Month 4 – Hire a NP or PA
The fatal flaw contained in this plan—is the assumption that your infrastructure will scale smoothly without disrupting cash flow.
Even when you have the funding and the patients to grow your business, if your billing department is maxed out, it won’t be able to handle the increase in revenue cycle management. So, while adding another 25% of top-line revenue looks great on paper…
You can’t hire 25% of an experienced biller
What new credentialing will be required? What software upgrades will be needed to handle the new NPIs you’ll be billing? Will there be a new tax ID to bill under? There’s a mountain of minutiae required to scale, and all of it will challenge your existing resources.
The good news is you don’t have to wait until you reach a revenue threshold or burn out your billing staff before adding providers or locations. PracticeSuite has practice management and coding experts ready to partner with you and your current staff—either augmenting your back-office or taking over the RCM—to help you achieve growth.
Want to find out if fractional outsourced RCM is right for your practice? Ask these eight questions, then read the checklist of tasks you’ll no longer be doing after hiring PracticeSuite.
Last Updated on February 19, 2019