As this most tumultuous year comes to a close, many businesses are taking this time to evaluate their performance over the past 12 months, as well as considering their goals for 2021 and beyond - and your medical practice should be no different!
When it comes to running a private medical practice, handling all of your own Revenue Cycle Management (RCM) in-house can take up more time than you have to spare.
Medical billing is the middleman between a medical facility and an insurance company, so it’s safe to say that it’s a pretty important step in the process of running a practice.
As many practices around the world are beginning to implement telemedicine visits in their daily schedules, many people are benefiting from the added safety of not having to visit a doctor’s office in person during a global pandemic.
You may have read the title of this post and asked yourself “how are practice management services and patient volumes even related?”
In our last post, we discussed some practice considerations that could come up as telemedicine becomes more prevalent - especially as we navigate a global pandemic. In addition to those practice considerations, expense management is also a major facet of implementing telemedicine services in your office.
Here at 99MGMT, our primary goal is to help medical practices run as efficiently as possible, and one of the most impactful ways to help overall performance at a practice is to decrease expenses to increase revenue.
When you spend every day caring for your patients’ health, it can feel like a hassle to think about managing your practice’s financial health as well. As cumbersome as it can be, staying on top of your practice finances is the key to many years of continued operation.
As anyone who works in healthcare knows, you can’t provide the best service to your patients if you don’t have the best staff working in your practice. Often times though, recruiting can be harder than it sounds.
Check All the Boxes During the Initial Information Transfer
The initial transfer of information from patient to practice is extremely important. This is your opportunity to obtain a broad and detailed scope of a patient’s insurance coverage to enter into your system.