Poised for Growth: 2 Ways Practice Management Software Can Help

Poised for Growth: 2 Ways Practice Management Software Can Help

Starting a medical practice is tough enough, but running one can be even tougher in the long term. Practice owners or managers have to contend with a variety of challenges, including keeping up with the latest in regulations and laws while simultaneously balancing budgets with patient satisfaction. Combined, these challenges can become difficult for one person or even a team to manage, but thankfully, there are software options available to help. Practice management software solutions can streamline everything from scheduling...

Stabilize Cash Flow with Effective Revenue Cycle Management

Stabilize Cash Flow with Effective Revenue Cycle Management

Cash flow is one of the most important elements of running a successful business, but in the healthcare industry, cash flow becomes even more important. Without positive cash flow, medical practices are often unable to purchase new equipment that can be instrumental in delivering advanced healthcare, and to make matters worse, affected practitioners may also find themselves unable to attract or retain qualified medical professionals who can treat patients. All of this combined can lead to a reduction in patient...

Expert Interview: Dianna Watkins of Billing Therapy Solutions on Billing Challenges for Therapists

Expert Interview: Dianna Watkins of Billing Therapy Solutions on Billing Challenges for Therapists

Dianna Watkins, owner of Billing Therapy Solutions LLC, is a medical billing auditor business owner who has more than 16 years experience in healthcare. Here she shares about her experience with revenue cycle management and the challenges facing therapists when it comes to medical billing. Read on: Tell us your story. How did you get into revenue cycle management? Sixteen years ago I took a position as an office manager of a Speech Therapy clinic without any previous experience with...

Patrick Dougherty of M-Scribe Billing Services on Trends in Revenue Cycle Management

Patrick Dougherty of M-Scribe Billing Services on Trends in Revenue Cycle Management

Patrick Dougherty is the GM and VP of Business Development at M-Scribe Billing Services. Patrick has worked in the RCM field for more than 20 years helping practices in every possible area, which includes medical billing, coding, credentialing and renegotiating payer contracts. Here he discusses how M-Scribe is carving a niche in the RCM marketplace and about the billing challenges facing practices today. Read on: Tell us your story. How did you get into revenue cycle management? I was the...

Kari Behlmer of Administrative Billing Solutions on the Evolution of Revenue Cycle Management

Kari Behlmer of Administrative Billing Solutions on the Evolution of Revenue Cycle Management

Kari Behlmer is the founder and sole owner of Administrative Billing Solutions Inc., a leader in revenue-cycle and practice management for small medical practices. We recently asked Kari about the changes she’s observed in revenue cycle management in recent years and how she helps her clients weather these changes. Here’s what she had to say: Tell us the story behind the Administrative Billing Solutions. In 2000 I began thinking about starting my own medical billing business, to afford me the...

Expert Interview Series: Matt Dallmann of VGA Billing

Expert Interview Series: Matt Dallmann of VGA Billing

Matt Dallmann is a Co-Founder of New York City’s VGA Billing Services, and specializes in out-of-network medical billing. Here he talks about some of the challenges related to out-of-network billing and offers his insight on the current climate of revenue cycle management. Read on: Can you tell us the story behind VGA Billing Services? My business partner, Paul von Gahl, and I started VGA Billing in 2007 as the “anti-billing service” billing service. Paul had been an independent consultant for...

Practice Management Hack #6 – Checking Insurance Benefits, Eligibility Verification

Double Checking Demographics & Eligibility Verification Inaccurate or incomplete patient demographics are the number one cause for claim rejections. Insuring that thorough and accurate patient information is obtained and recorded is the second step of the revenue cycle. The following tips can empower front-office staff, optimize your patient demographic information collection—and improve patient satisfaction in the process. Is education available for your front-office staff? These employees are the portal for the business office as well as your patients, and they...

Revenue Cycle Postmortem? Part 1 of a Series on Revenue Cycle Management.

Mastering the Revenue Cycle Maze The revenue cycle used to be a cycle, not a maze. Today, it’s a critical aspect of every practice that needs insightful and careful management. Collecting the amount you’re owed, and doing so in a reasonable amount of time is imperative for the survival of your medical practice. If the revenue cycle maze has you lost, consider these ways to stop cash outflows before they drain. Conduct monthly financial meetings. Although a postmortem, it is...

Revenue Management: Connect the ‘Hot Spots’ to Increase Your Cash Flow

For any business to thrive, revenue management is a critical element, and running a medical practice is no different. Unfortunately, due to the hectic schedules and stress of running such a personal service company, it can be easy to either miss opportunities to gain new revenue or even put processes in place that can hinder the growth of new revenue. Such “hot spots” need to be identified in order to ensure not only faster growth, but stronger growth. In some...

Practice Management Software: Does Your Revenue Cycle Manangement Measure Up?

Good revenue cycle management allows you to focus on what’s most important in your practice. Are you in control of your revenue cycle? Your practice depends on having a good plan in place for ongoing revenue cycle management. Dropped billing opportunities and billing errors all impact the revenue of your practice. If your revenue cycle management (RCM) could be tightened up, practice management software can help. What Does Quality Revenue Cycle Management Look Like? Everyone makes mistakes, and sometimes items...

Practice Management Hacks – Tip #10: Utilize Text Based Appointment Reminders

PM Hack – #10: Utilize Text Based Appointment Reminders The appointment is the glue that holds the physician-patient relationship together. Unfortunately, conventional appointments don’t work anymore. Patients wait too long, and physicians are so under the gun that they don’t get the time they need to fully examine patients. The end result: unhappy patients and unhappy physicians. Here are some tips to maximize the efficiency and effectiveness of physician-patient appointments. Here are the seven steps to maximize patient appointment scheduling:...