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.
Running a medical practice takes hard work, dedication, and unfortunately - a lot of expenses. Like with any other business, it is important to be aware of all the costs you’ll be incurring for your clinic so you can plan accordingly.
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.
It’s clearer each passing day that not only is the world changing, but the way healthcare is practiced is changing as well. Returning to the way things were before with crowded waiting rooms and little in the way of personal protective equipment (PPE) is unsafe and illogical.
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.
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.
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!