Attaining the highest reimbursement possible is essential to maintaining a healthy revenue stream. But sometimes, due to unforeseen circumstances, you don t always receive the payment you expect. As a... Read More >
As mentioned in the last few blog posts, quality metrics provide the indicators physicians need to measure how their practice is performing. In this post I take a look at... Read More >
Benchmark for Receivables Over Days As you know, accounts Receivable A R is crucial for any practice s financial health, often categorized into aging buckets , , , and days.... Read More >
Days in accounts receivable A R represents the average number of days it takes a practice to get paid. The lower the number, the faster a practice is obtaining payment... Read More >
What It Is The first-pass resolution rate FPRR is the share of a practice s claims that get paid upon first submission. Calculation FPRR Total Number of Claims Paid Total... Read More >
Retirement Fears Nearly one-third of financial planners say their clients top retirement fear is running out of money, according to a recent AICPA survey of CPA financial planners. This is... Read More >
There are plenty of revenue cycle techniques meant to help practices boost profits. While many focus on ways to bring more money in, sometimes saving money is just as important.... Read More >
What do your patients experience when they visit your practice? More importantly, how do they remember your practice? Or, do they remember you at all? Most medical practices understand that... Read More >
Acquiring debt is not necessarily a bad thing it depends on the reasons for doing so. Certainly borrowing to meet current expenses is not usually a good idea unless there... Read More >
Despite the benefits of working in a group practice, physicians often underestimate the challenges that come with working as a team. Medical practices that stick together prioritize the following initiatives... Read More >
When you know the rules, you can party with your employees and deduct percent of the cost. Interestingly, if you feed your employees during a training program, your deduction is... Read More >
Most of my clients have a policy against excessive cell phone usage, including texting and being online via the cell phone. Some have a cell phone policy that the staff... Read More >
Are you facing an increase in A R costs? Changing your processes to include electronically storing patient credit card numbers could help you to reverse that trend. This could potentially... Read More >
Effective Strategies to Prevent Medicare Duplicate Claim Denials Duplicate claim denials continue to be one of the top billing errors. Duplicate submission of Medicare claims cause an increase in cost,... Read More >
Nearly one-third of financial planners say their clients top retirement fear is running out of money, according to a recent AICPA survey of CPA financial planners. This is a huge... Read More >
I have been involved facilitating a lot of physician group practice mergers. Based on my experiences, the following are a few merger myths you should keep in mind Billing Will... Read More >
In , the Medicare fee-for-service improper payment rate for blood counts was . percent with projected inaccurate payments of . million. Improper payments resulted from Insufficient documentation percent Incorrect coding... Read More >
If your physician practice has ever engaged in the process of strategic planning, you know that the planning retreat is just one step in the process. Practices spend precious time... Read More >
Good post by good friend and colleague, Mark Weiss at the Advisory Law Group Strength in numbers. Or is there? Medical groups seeking alternatives to the sale of their practice... Read More >
Key Performance Indicators KPIs for Running a Successful Private Medical Practice It s tempting to put the business operations of small private medical practices on the back burner to concentrate... Read More >
A Concierge Medical Practice As first reported in the Fierce Practice Management email newsletter, as many as one in three remaining independent medical practices will rely on subscription fees to... Read More >
Is modifier reported on the second encounter if a physician sees a patient in the office in the morning and again in the afternoon for a new or worsened condition?... Read More >
Continued Resistance Inability to Compromise Lack of โGroup-Thinkโ Sacred Cows Hidden Agendas Clashing Personalities Inability to Make Decisions Staking out Leaderships Roles too Early Read More >
In case you have not thought of some of the benefits of merging physician medical practices Increased Revenues From Same Practice Production Reduced Overhead Managed Care Contracting Technology Upgrade Capability... Read More >
Jefferson Medical Associates, a now dissolved, multi-specialty medical practice group in Laurel, and Dr. Aremmia Tanious, have agreed to pay the United States , . to resolve claims under the... Read More >
nbsp Richard Quinn January , The Humble Dollar FOR THE BETTER part of years, I spent a great deal of time helping thousands of workers prepare for retirement. We ran... Read More >
Revenue cycle management remains high on every medical practice s priority list. A critical point in the revenue cycle is ensuring that services rendered by the providers result in of... Read More >
CMS has a posted a series of videos to the QPP Resource Library to help clinicians understand how to manage and submit their Merit-based Incentive Payment System MIPS data through... Read More >
The Centers for Medicare amp Medicaid Services CMS has officially opened the data submission period for Merit-based Incentive Payment System MIPS eligible clinicians who participated in Year of the Quality... Read More >
CMS received approval for a new Medicare Enrollment Application for physicians and non-physician practitioners CMS- I dated . Many changes are minor the major ones reduce provider burden Eliminated reporting... Read More >
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