Connections for Success

 

Health Care

04.07.21

Keys to Improving Your Revenue Cycle
Kevin Omahen

Revenue cycle management (RCM) is one of the most complex medical office tasks. There are layers of steps involved in the process and roadblocks may be encountered throughout the entire process. Luckily, there are ways to apply the standard principles of professional RCM to improve your office’s ability to get paid in a timely manner. […]

03.12.21

Is It a Good Time to Buy a Practice? Consider These Factors Before You Make the Leap
Laurence Sophian

Even in times of economic uncertainty, there may still be opportunities for growth. While some medical practices are struggling, others are doing well and may even want to expand their operations. If you are considering acquiring a practice, you will first need to know its value. In addition, a buyer needs to take several specific […]

02.24.21

A Good Business Plan Can Help Your Practice Thrive
Antwone Turner

There is a reason that physicians typically do not have an MBA. For most physicians, business is far from your primary function — healing is your business. But whether you are obtaining loans to expand your practice or simply setting up operations, generating a business plan makes sense. And with the current economic uncertainty brought […]

01.21.21

Seven Steps to Handle a Down Economy
Kelly H. Buchheit

The COVID-19 pandemic has had many ramifications. One of these has been a down economy that has affected many sectors of our society — including medical practices. Physicians have felt the effects as patients have lost jobs and health insurance, been reluctant to visit doctors’ offices because of fear of infection and shifted to saving […]

12.09.20

How Can You Avoid “Paralysis” When Making Key Decisions?
Laurence Sophian

How many times have you wanted to improve some aspect of your medical practice but found yourself unable to take the necessary steps? How many times has a staffer come to you with an idea and been told, “Okay, let me think about that.” But, rather than decide, the hectic nature of running a busy […]

11.16.20

Prevention is the Best Medicine: How to Reduce Your Risk of a Malpractice Lawsuit
Antwone Turner

We live in a litigious age — approximately 15% of all personal injury and wrongful death lawsuits filed throughout the nation result from medical malpractice. This translates into roughly 20,000 medical malpractice claims filed each year, despite estimates that up to 120,000 annual cases of medical negligence occur. It is likely that 1 in 14 […]

10.23.20

Get Ready for Your Closeup: Embrace Telehealth
Kelly H. Buchheit

Many physicians have increased their use of telehealth during the COVID-19 crisis. Clinic visits dropped by almost 60% in March and have remained low since then. By April, the Commonwealth Fund cited that about 30% of outpatient visits were now occurring on a virtual platform. It is clear that the COVID-19 pandemic has accelerated the […]

09.29.20

Six Ways to Motivate Your Employees
Laurence Sophian

In this time of national emergency due to the Covid-19 pandemic, your staff is almost certainly under more stress than normal. This is a very important time to work cooperatively with your employees, listening to and taking seriously their fears and concerns. Conditions will eventually return to normal and employees will likely remember how you […]

08.12.20

How to Handle Collections Reasonably and Compassionately
Antwone Turner

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 […]

07.22.20

Staying Solvent — and Maybe Even Profitable — in Tough Times
Laurence Sophian

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, […]

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