How to Handle Collections Reasonably and Compassionately
According to the Kaiser and New York Times survey, almost 25% of U.S. patients have trouble paying a medical bill. The same survey states that 32% of adults between the ages of 18 and 64 have postponed getting needed care due to the cost and 40% said they have relied on home remedies and over-the-counter […]
Staying Solvent — and Maybe Even Profitable — in Tough Times
Maintaining profitability is a challenge for medical practices in the best of times. When the economy undergoes a sudden and unforeseen downturn it can be hard for any business, including a physician practice, to stay afloat. What is worse, you may find coping with economic change even more difficult because of the constantly shifting Medicare, […]
COVID-19 and the Impact on Telehealth Services
With the onset of the coronavirus (COVID-19) pandemic, the health care community has understandably been focused on diagnosing and treating patients with COVID-19. However, other patients, including higher-risk Medicare beneficiaries who still require various essential medical services, are encouraged to stay at home during this time when many health care facilities are overcrowded. In order […]
Relief for Health Care Businesses Under the CARES Act
Kelly H. Buchheit
No one is immune from the financial impact of COVID-19, and those in the health care industry have felt its effects more than most. As the pandemic continues, Congress has passed several bills offering financial relief to individuals and businesses, including health care providers. One of the most significant pieces of legislation is the Coronavirus […]
Millennials and Health Care
As millennials are now a primary group of adult consumers and patients, medical practices should consider how millennial views and expectations regarding health care have been shaped by access to the Internet, mobile devices, social media, etc.
Help Your Bottom Line: Focus on Your Revenue Cycle
Secure and consistent revenue is integral to any successful medical practice’s bottom line. Sometimes physicians lose track of what is actually going on in their business operations. When you aren’t paying attention to the financials, your profitability may tank regardless of how well you address patient needs and concerns.
Patient No-Shows? No Problem
Working around patients that do not show up for appointments is a constant battle that all medical practices face. This article dives into various strategies to help tackle this issue.
How’s Your Revenue Cycle?
Kelly H. Buchheit
Do you know whether your practice’s revenue cycle management system is functioning at its peak potential? If not, your practice might be headed for trouble. To keep your practice financially healthy, you may want to assess the system’s strengths and weaknesses to make sure it is operating in a way that will maximize revenue and minimize waste.
Three Keys to Providing Terrific Patient Service
One of the cornerstones of a successful medical practice is terrific patient service. In a non-medical context, you would call it customer service, but patient service needs to go beyond simply fulfilling a patient’s demands. Here are three keys to getting it right: Service Design For any service business, when designing how you are going […]
Paid Leave for Medical Practices: Considerations for Setting Time Off Policies
In any business, staff members need the flexibility to take time off from work — whether for sick days, personal days or vacations. Some medical practices take a fairly casual approach, while others have more formal time-off policies. Whatever your current method, you should periodically review and reconsider what would be the most effective and […]