Top 10 Reasons Practices Lose Money
Here are the top 10 reasons that medical practices lose money and some processes that can be implemented to get your finances back on track.
5 Challenges of Managing a Medical Office
What are some challenges medical office managers have faced in 2012? How can they be resolved?
End of Year Checklist
The new year is fast approaching with less than 30 days left and if you haven't done so already, the time is now to develop a game plan for your organization. In the ever changing industry of health care, it is important that you review your office processes to identify areas and ways to improve performance and productivity.
Establishing a Financial Policy
The success of any health care facility depends on the strength of the medical office's financial policy. It is the responsibility of the business office department or patient financial services team to ensure proper business practices are followed. Establishing a financial policy guarantees the ability of the organization to continue to...
Maximizing Insurance Reimbursements
It is important to be aware of all aspects of the revenue cycle and how it can impact your insurance reimbursements. This article gives great advice on ways to effectively manage the revenue cycle in order to maximize your insurance reimbursements.
4 Ways to Get Paid
Understanding the different methods of payment is essential for the financial management of the medical office.
Handling NSF Checks
Receiving a nonsufficient funds or NSF check is simply something out of any organization’s control unless you decide that you will not accept them at all. However, there are still a large amount of people that write personal checks to pay their medical bills.
5 Steps to a Strategic Plan
In any medical office there are factors that can influence the success of the organization. The key is identifying those factors whether they are within your control or not, and developing a plan that will lead to the achievement of the organization's future goals.
How to Handle Insurance Overpayments
No one wants the hassle of having an insurance overpayment. However, there is a simple process to make sure refunds are handled promptly.
Offering Financial Assistance
As health care professionals, we all recognize that uninsured or underinsured individuals require medical care just like everyone else. With careful planning, your organization can offer financial assistance to those who need it while protecting your facility’s financial security.
Offer Courtesy Discharge to All Patients
A successful upfront collection policy includes collection of inpatient deductible payments but can sometimes be stressful on the patients and their families. Although, it is the patient's responsibility to handle their financial affairs in a timely manner, the hospital can deliver excellent customer service by offering courtesy discharge to all...
Using Quality Analysis to Improve Finances
Financial performance is the foundation that the entire organization rests on. If your finances are not where you want them to be, learn how quality analysis can be used to reach your financial goals.
6 Free Resources for the Medical Office
There are many free resources available to health professionals and medical office staff. Take advantage of these great opportunities.
Need Cash Fast?
There are many factors that can cause a medical office to need to collect revenue quickly. Increasing revenue in 10 days or less can be done with the right strategy in place.
7 Missed Opportunities for Collecting Revenue
Improve the financial standing of the medical office by taking advantage of these 7 missed opportunities for collecting revenue.
Medical Office Start-up Checklist
Here you will find some tips to help you start-up a new medical office or reorganize an existing one.
Mid-Year Checklist Review
The mid-year mark is here and it is time to review your medical office to determine whether or not you are on target with the goals you set at the end of last year. In the ever changing industry of health care, it is important that you review your office processes to identify areas and ways to improve performance and productivity.
The Role of Accounting in the Medical Office
As the backbone of the organization, the accounting department allows the organization to operate at its fullest potential. Without an accounting department, it would be impossible for any type of organization to operate in a cost effective manner.
Marketing Strategies for the Medical Office
Marketing your medical practice requires someone that can be realistic about market expectations, setting and accomplishing goals, and assessing the competition. Marketing identifies the types of services that should be offered based on the demands of the community, analyze the performance potential, and develops strategies and goals necessary...