This article posting is from "The Profitable Practice" website and has some great information about medical billing.
By Andy Popple
“A blend of the values, beliefs, taboos, symbols, rituals and myths all companies develop over time” is the way corporate culture is most often defined. One thing is true, whether you formally define your culture or not, a corporate culture exists in your practice.
Are you too busy to take a hard look at your operations to be able to make the changes needed to make the impact your practice needs to be really financially and operationally robust? Are you putting off inevitable decisions because daily routines do not give you the thinking time you need? Are you keeping a “warm body” on payroll because of the hassle? Do you know what changes need to be made but don’t have the determination to really make them?
While this may seem to be a no brainer; too many times, employees are left to their own devices in completing their daily assigned tasks. We hire people because we have a need; training gets cut short as the daily routine of the practice pace leaves little room for proper orientation. Or even worse we ask them to read through policy and procedure manuals without making the time to really explain why the practice developed those policies.
In the time it takes you to read this blog, 57% of your patients will be asked a question about what doctor they use….why they like or dislike. Do you know what they are saying? If you don’t then you are not listening.
As you look at your accounts receivables over the past 3 years, you have to see that the reimbursements are trending downwards. Some specialties are more affected by these lowering trends than others; but all practices have to contend with lower reimbursements at the same time cost is going up. IT services are demanding more and more of the practice dollars and expertise to maintain these systems is expensive as well.
Your practice management system is your healthcare practice’s pathway to the revenue stream. Your biggest dollar investment is probably your practice management system (although now, your EHR and IT costs may exceed PM)
Even as hospitals are cutting jobs because of decreased MCR/MCD payments, larger MCD populations in those states that opted in to ACA and baby boomers turning 65; practices and facilities are looking to consultants help them chart their way through the next 5 years of uncertainty.
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