Thinking outside the box about practice profitability
What is the primary responsibility of a medical practice? Typically, the most common answer I hear is “providing quality care to our patients.” While I would never argue about the importance of...
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Lines of credit: A tool to boost reserves and sustain cash flow at your practice
The revenue cycle model for a medical practice is more complex than many other businesses, and a line of credit can be a lifesaver for a practice dealing with operational disruptions.Frank Cohen,...
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3 ways overhead expenses can generate more revenue
When medical practices are struggling financially, a common reaction is to cut overhead expenses. While this strategy may work in other businesses, experts who spoke with Medical Economics say that...
View ArticleTop 10 mistakes your front desk could be making
A relatable, helpful and professional front desk staff is one key to practice success, according to Laurie Mercier, a practice consultant with Allergan Practice Consulting who spoke at the 2014 Vegas...
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Provider competition cools prices on ‘shoppable’ services, drives consolidation
In an era of increased transparency, rising labor costs and a changing market, many providers are struggling with declining revenue and are turning to consolidation, changing pricing structures and new...
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10 tips to assess Revenue Cycle Management vendors
Outsourcing revenue cycle management can ease strain on practices, but study the details before signing a contract.Running a financially successful practice depends on efficient revenue cycle...
View Article(WEBINAR) Increase Your Practice's Revenue Starting Today
Revenue pressures facing office-based physicians continue to intensify. Changes to public and private payer reimbursements, implementation of the Affordable Care Act measures, and escalating costs...
View ArticleRevving revenues
Conducting clinical trials and dispensing skincare products represent opportunities in an ever-changing landscape, according to Kenneth Beer, M.D., who spoke at The Cosmetic Bootcamp (CBC) in June....
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Making sense of the economics of part-time physician practice
Take-home message: Physicians who would like to work part-time should understand the economic issues involved and learn how to manage staff, patient volume, and costs effectively. By Nancy Groves;...
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Four reasons MCOs should outsource administrative tasks
While providing high quality patient care is at the forefront of a managed care organization’s agenda, back-end processes such as billing and claims management receive less attention, but are no less...
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Hospitals get big payoff from higher physician engagement
Bill O'Connor, MD, vice president of consulting for Orion Health says he has been working on helping health systems increase physician engagement for more than 20 years and it has been "an uphill...
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Premium Content Preview | Getting a Handle on Revenue Cycle Management
On the surface, your practice appears to be running smoothly. Your staff is working hard, money is coming in the door, and claims are getting paid. So why are revenues stagnating or falling? According...
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7 indicators to optimize your practice's revenue
Within many physicians practices, there is a relatively untapped resource for optimizing revenue—business operations data. There has never been a better time to dive into this type of data—it can...
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Premium Content Preview | Online Scheduling: Boost Revenue and Patient...
By 2019, 64% of patients using U.S. health systems will book medical appointments online, generating $3.2 billion in value. Learn how online scheduling can boost your revenue, improve patient...
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Five things health plans should consider before outsourcing
Determining whether to outsource business processes is a crucial consideration for a health plan. Outsourcing means giving up a vital part of what you do as a business, so it’s a strategy that should...
View ArticleRetail research: Skin care products 101
Skin care products alone can easily represent up to 20% of an aesthetic practice’s overall revenue, according to Alex Thiersch, J.D., founder and director of the American Med Spa Association (AmSpa)...
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Three ways to rein in high deductibles, costs
More than half of Americans are delaying payment on medical bills—citing high-deductible health plans and confusion over insurance coverage as the primary reasons, according to a study. A new...
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Managed Care State of the Industry Survey 2017
Managed Care State of the Industry Survey 2017 As 2017 comes to a close, how do healthcare leaders feel about the state of the industry? Here’s your chance to find out. During the third quarter of...
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Make CCM work for your practice
As a solo primary care doctor, Melissa Lucarelli, MD, rarely turns down an opportunity to increase her practice’s revenue. But that’s what she did when, in 2015, Medicare introduced its new billing...
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