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.
Are you looking to start a medical practice? 99MGMT has compiled the ultimate list of medical practice checklists, tips, and forms to help you get your business up and running!
Most physicians do need financial assistance to get a new practice up and running. How long it takes to get the money in your hands depends on the type of loan you apply for.
You're ready to venture out and start your clinic in Texas, but medical practice funding still seems a mystery. What medical practice startup costs do you need funding for? How much does it cost to start a medical practice? You need answers to these questions before you can start figuring out how to get a loan to start your medical practice.
Here's what you need to know:
You have to spend money to make money, but in order to maximize your profitability, you need to keep medical office operating expenses under control before they eat your practice alive (not unlike an antibiotic-resistant MRSA).