How to increase the profitability of your medical practice
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Transcript of How to increase the profitability of your medical practice
How to increase the profitability
of your medical practice?
• Decrease no-shows systematically .
• Get a card swiper !
• Set up a financial plan.
• Are you following state specific guidelines ?
Steps to increase your collections and the
time you spend on patient care.
Decrease no-shows systematically
• You’ve fixed up an appointment, silenced your phone
and waiting for a patient, who in all probability won’t
show up.
• To decrease the number of no shows, make sure
you remind your patients about their appointments.
• Put up a small poster in your front office detailing
how to reschedule appointments and contact
numbers of who your patients need to call.
Get a card swiper!
• It is a world of plastic money and you are
seriously inconveniencing your patients and
missing out on collections,
• If you don’t have a swiping machine at the desk.
• You can not only collect more dollars but become
more patient friendly as well !
Set up you financial plan
• Sit down with your in-house biller or medical
billing company to set up a detailed financial plan.
• It will help you place a finger on what goes wrong
and work out solutions to fix the problem areas.
• Create a plan of action and set up a goal for your
medical billing specialist ! Conduct internal audits
regularly.
Are you following state specific guidelines ?
• If you plan to outsource ensure that if your practice
is based in California, you sign up with a medical
billing company California.
• Or with someone who understands the billing
regulations of your State.
• Running a more profitable practice, being more
patient friendly or staying in line with billing
regulations, needn’t remain a wistful wish.
• Drop your queries more about medical billing services @ http://www.medicalbillingstar.com