You became a physical therapist to help people, but if you’re in private practice, the majority of your day is often spent on other tasks. The truth is, there simply aren’t enough hours in the day to successfully manage a business and treat large numbers of patients. However, there are some steps you can take
According to a MGMA–Medical Group Management Association report, physicians will send an average of 3.3 billing statements before a patient’s outstanding balance is paid in full. The trickiest conversation a practice has is that of collecting patient balances. The delay may have multiple causes, such as: Practices’ reluctance to talk to patients about money Physicians’
February was filled with wintry weather in much of the country, but the employment scene heated up for doctor’s offices according to recent statistics from the Bureau of Labor and Statistics. From February to March, physician offices added 6,000 jobs. Overall employment in the healthcare sector was close to 2.6 million. If these numbers are
Double Checking Demographics & Eligibility Verification Inaccurate or incomplete patient demographics are the number one cause for claim rejections. Insuring that thorough and accurate patient information is obtained and recorded is the second step of the revenue cycle. The following tips can empower front-office staff, optimize your patient demographic information collection—and improve patient satisfaction in
Hack #14: Tackling Prior Authorization Issues This installment of practice management hacks takes on the crucial topic of prior authorization. Although it’s been a task for healthcare providers for more than 20 years, it’s still one of the most vexing areas of reimbursement failure. This installment of management hacks deals with utilization management, prior review,
Mastering the Revenue Cycle Maze The revenue cycle used to be a cycle, not a maze. Today, it’s a critical aspect of every practice that needs insightful and careful management. Collecting the amount you’re owed, and doing so in a reasonable amount of time is imperative for the survival of your medical practice. If the
As the medical industry continues to get more and more competitive, it is essential to streamline and optimize every step of a medical practice from the front desk to the billing room. The scheduling cycle is an often overlooked step in the revenue cycle, making it a prime area for an overhaul. YellowSchedule is a
More primary care physicians are turning toward direct patient care (DPC) practice models. A DPC practice is not the same as concierge medicine, nor is it necessarily a cash-only practice. However, DPC practices can be simpler to operate—relatively speaking— than fee-for-service healthcare. By some estimates, 75% or more of patient care can take place in
Almost anyone can look like a good fit for a practice—at least on paper—when a position is open and patients are waiting. However, resumes can be customized into piles of keywords for any position, and resume screening software programs (also called “applicant tracking systems”) are notorious for screening out almost everyone, including good candidates. This
In a previous post, on crisis management, we looked at natural disaster like earthquakes, blizzards, and hurricanes. In this post, we’ll delve into human-generated disasters. First, some good news: Since the 1990s, the number of people killed in US workplace violence incidents has fallen significantly. This suggests that training, awareness, and new evacuation and police
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