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Member You - Using a Professional Medical Billing Company: 7 Ways to Retain Control of Your Practice
Muggers in Our Midst - When Rumour and Gossip Pay You a Visit
‘I heard it on the grapevine’ the old song goes. But the grapevine has the potential to cause your business strife, misunderstanding and ruin! In effect the rumour mill and gossip are dangers you cannot ford to ignore. People who indulge in these behaviours are like muggers – they leave you feeling you have been robbed!Many small business owners and managers are so busy that they fail to take notice of the poison disseminated through their organisation like a cancer silently consuming all before them.Have you ever noticed how some people seem to gravitate to negative thinking, gossip and innuendo? The amazing thing is that these people are the first to raise their hands for more mo
th a more advanced medical billing company you will find scanning or imaging of all documents that come into the office is not uncommon – and they can usually send a monthly CD back to your practice for an extra, electronic copy of patient information.‘I heard it on the grapevine’ the old song goes. But the grapevine has the potential to cause your business strife, misunderstanding and ruin! In effect the rumour mill and gossip are dangers you cannot ford to ignore. People who indulge in these behaviours are like muggers – they leave you feeling you have been robbed!Many small business owners and managers are so busy that they fail to take notice of the poison disseminated through their organisation like a cancer silently consuming all before them.Have you ever noticed how some people seem to gravitate to negative thinking, gossip and innuendo? The amazing thing is that these people are the first to raise their hands for more mo
More advanced medical billing companies can also offer practices access to data via VPN (Virtual Private Network) connection or via web portal. Such systems are capable of offering real-time, or near-real-time, access to data and allow client practices to view everything almost as it happens – including daily reports, status of claims, patient balances, etc. Keep in mind that such services do not come inexpensively; they require regular maintenance by very savvy staff.
Finally, if your billing service does not provide you with a way out of their contract – be it with 30, 60 or 90 days notice – then think about the relationship carefully. Are you getting locked into something you might not be satisfied with just a month
The Paralysis that Affects Some Plumbers
It's always hard to be sure, isn't it, exactly when to follow up on a quote?I would always recommend within 48 hours for the following reasons:1) It is still a good time frame where people remember they have received your quote2) It shows that you are interested in helping them to get what they want3) Makes prospective clients feel cherished that you are interested in making sure their needs are met4) It allows you to iron out any potential misunderstandings and to 'get a feel' as to whether or not you have got the job. If they are still waiting on quotes from other Plumbers they will remember that you were prompt, courteous and interested.5) It helps yo
Outsourcing to a professional medical billing company to manage your practice’s reimbursements can be both a blessing and a curse. In most cases it will save you significantly in payroll, staff time, and administration headaches, but it can also feel like you’re giving up all control of your revenue. As practices consider their options for managing medical billing, it’s important they find (and maintain) a comfortable sense of control over operations. Here are a few mechanisms of control your medical billing company should offer to show you that the work is getting done efficiently and effectively.
It's always hard to be sure, isn't it, exactly when to follow up on a quote?I would always recommend within 48 hours for the following reasons:1) It is still a good time frame where people remember they have received your quote2) It shows that you are interested in helping them to get what they want3) Makes prospective clients feel cherished that you are interested in making sure their needs are met4) It allows you to iron out any potential misunderstandings and to 'get a feel' as to whether or not you have got the job. If they are still waiting on quotes from other Plumbers they will remember that you were prompt, courteous and interested.5) It helps yo
- Consistent reporting
Consistent reports should be standard for any medical billing company and are your foundation for control over practice revenues. They should be provided at least once a month and include tracking of transactions, A/R, managed care and capitation utilization, and individual provider reports for practices with multiple doctors. Any medical billing company worth your time should also be able to respond to reasonable requests for customizable reports as well. Reports should be clearly designed to give you a concise understanding of the successes and shortcomings of your practice and medical billing company. - Comparative Analysis
Monthly and periodic reports are helpful in assessing what has taken place over a given time frame, but comparative reports will truly show the ebb and flow over the longer term. You will have a greater understanding of your practice and the performance of your medical billing company if you are able to clearly see improvements to your cash flow over time identify periods of lagging profitability. Make sure your medical billing company is able to furnish you with comparative reports monthly, if not at least quarterly or annually. - Performance Metrics
Performance metrics will often be built into a medical billing services contract, but you should have a mechanism in place for measurement. An example of a solid performance metric would be: 98% of all claims submitted to the carrier within 48 hours of receipt. This is an attainable measurement in most cases, and almost all medical billing software packages can report on submission date for comparison against the date of service. Periodic spot checks of performance metrics will give practices further control over day to day operations and tasks – and not just monthly trends from the periodic reports. - Reimbursements Sent to the Practice
When working with a medical billing company, there are a number of ways in which payments can find their way to your checking account. First – not always the number one choice for that heightened sense of control – payments can be sent directly to the medical billing company. While it would be rare that a medical billing company would do something illegal with the payment (and for very little long term benefit), some practices feel this gives away too much responsibility. Another option is to set up a lock box at a local bank. Lock boxes ensure an added sense of security as all mail is received, opened and sorted by bank personnel - but they add often unnecessary steps and time to the process. The most common option for greater control over your payments would be to have all reimbursements sent directly to the practice. The medical billing company can continue to update A/R based on copies of EOBs if necessary, but you never have to worry about misplaced or misdirected checks if you are receiving them directly. - Patient Information
While the EMR revolution is building, many practices are still moving around enormous amounts of paper. If you are among these, you will need to communicate your patient information to the medical billing company in such a way that you retain copies or originals of encounter documents. Typically, encounter information is sent via fax or mail mail. If mailing patient encounter information to your medical billing company, consider retaining the originals and sending only copies. Though rare, there is always the possibility that it might get lost in the mail, or the medical billing company could misplace a record. Also, with a more advanced medical billing company you will find scanning or imaging of all documents that come into the office is not uncommon – and they can usually send a monthly CD back to your practice for an extra, electronic copy of patient information. - Access to Data
More advanced medical billing companies can also offer practices access to data via VPN (Virtual Private Network) connection or via web portal. Such systems are capable of offering real-time, or near-real-time, access to data and allow client practices to view everything almost as it happens – including daily reports, status of claims, patient balances, etc. Keep in mind that such services do not come inexpensively; they require regular maintenance by very savvy staff. - Contract Terms
Finally, if your billing service does not provide you with a way out of their contract – be it with 30, 60 or 90 days notice – then think about the relationship carefully. Are you getting locked into something you might not be satisfied with just a month dLet's Flourish and Prosper!le requests for customizable reports as well. Reports should be clearly designed to give you a concise understanding of the successes and shortcomings of your practice and medical billing company.
Some say that in business as in sex: if it is good, it’s great and if it is bad it’s still pretty good. This does not happen to be true. If business is bad, it can get very bad. There are personnel problems, production expenses, overhead, laws, taxes, fines. Faulty financial decisions, inability to accurately evaluate the situation and quickly resolve problems all lead to an extremely high mortality rate among new business: up to 95% do not survive past their first 12 months.Modern business management is an art, based on a certain technology requiring certain skills. There is a technology of how to estimate and evaluate any situation and accurately predict future events and trends. There - Comparative Analysis
Monthly and periodic reports are helpful in assessing what has taken place over a given time frame, but comparative reports will truly show the ebb and flow over the longer term. You will have a greater understanding of your practice and the performance of your medical billing company if you are able to clearly see improvements to your cash flow over time identify periods of lagging profitability. Make sure your medical billing company is able to furnish you with comparative reports monthly, if not at least quarterly or annually. - Performance Metrics
Performance metrics will often be built into a medical billing services contract, but you should have a mechanism in place for measurement. An example of a solid performance metric would be: 98% of all claims submitted to the carrier within 48 hours of receipt. This is an attainable measurement in most cases, and almost all medical billing software packages can report on submission date for comparison against the date of service. Periodic spot checks of performance metrics will give practices further control over day to day operations and tasks – and not just monthly trends from the periodic reports. - Reimbursements Sent to the Practice
When working with a medical billing company, there are a number of ways in which payments can find their way to your checking account. First – not always the number one choice for that heightened sense of control – payments can be sent directly to the medical billing company. While it would be rare that a medical billing company would do something illegal with the payment (and for very little long term benefit), some practices feel this gives away too much responsibility. Another option is to set up a lock box at a local bank. Lock boxes ensure an added sense of security as all mail is received, opened and sorted by bank personnel - but they add often unnecessary steps and time to the process. The most common option for greater control over your payments would be to have all reimbursements sent directly to the practice. The medical billing company can continue to update A/R based on copies of EOBs if necessary, but you never have to worry about misplaced or misdirected checks if you are receiving them directly. - Patient Information
While the EMR revolution is building, many practices are still moving around enormous amounts of paper. If you are among these, you will need to communicate your patient information to the medical billing company in such a way that you retain copies or originals of encounter documents. Typically, encounter information is sent via fax or mail mail. If mailing patient encounter information to your medical billing company, consider retaining the originals and sending only copies. Though rare, there is always the possibility that it might get lost in the mail, or the medical billing company could misplace a record. Also, with a more advanced medical billing company you will find scanning or imaging of all documents that come into the office is not uncommon – and they can usually send a monthly CD back to your practice for an extra, electronic copy of patient information. - Access to Data
More advanced medical billing companies can also offer practices access to data via VPN (Virtual Private Network) connection or via web portal. Such systems are capable of offering real-time, or near-real-time, access to data and allow client practices to view everything almost as it happens – including daily reports, status of claims, patient balances, etc. Keep in mind that such services do not come inexpensively; they require regular maintenance by very savvy staff. - Contract Terms
Finally, if your billing service does not provide you with a way out of their contract – be it with 30, 60 or 90 days notice – then think about the relationship carefully. Are you getting locked into something you might not be satisfied with just a monthBusiness Cards - Advertising Toolsn 48 hours of receipt. This is an attainable measurement in most cases, and almost all medical billing software packages can report on submission date for comparison against the date of service. Periodic spot checks of performance metrics will give practices further control over day to day operations and tasks – and not just monthly trends from the periodic reports.
Business cards are very useful as an advertising tool when you are launching a new business. Never leave home without your cards as you never know when you will meet someone to whom you want to give the card.Print your cards in bright colors and bold print and start advertising your business in your area. Frequent the busy areas around our business area. Go to the shopping malls or parking garages to hand out your cards. Do this with a smile and a greeting so that the passers by will want to stop and take one from you. The railway station and bus station in your area are also good places to hand out your little advertisements.Always leave a card behind when you have visited an - Reimbursements Sent to the Practice
When working with a medical billing company, there are a number of ways in which payments can find their way to your checking account. First – not always the number one choice for that heightened sense of control – payments can be sent directly to the medical billing company. While it would be rare that a medical billing company would do something illegal with the payment (and for very little long term benefit), some practices feel this gives away too much responsibility. Another option is to set up a lock box at a local bank. Lock boxes ensure an added sense of security as all mail is received, opened and sorted by bank personnel - but they add often unnecessary steps and time to the process. The most common option for greater control over your payments would be to have all reimbursements sent directly to the practice. The medical billing company can continue to update A/R based on copies of EOBs if necessary, but you never have to worry about misplaced or misdirected checks if you are receiving them directly. - Patient Information
While the EMR revolution is building, many practices are still moving around enormous amounts of paper. If you are among these, you will need to communicate your patient information to the medical billing company in such a way that you retain copies or originals of encounter documents. Typically, encounter information is sent via fax or mail mail. If mailing patient encounter information to your medical billing company, consider retaining the originals and sending only copies. Though rare, there is always the possibility that it might get lost in the mail, or the medical billing company could misplace a record. Also, with a more advanced medical billing company you will find scanning or imaging of all documents that come into the office is not uncommon – and they can usually send a monthly CD back to your practice for an extra, electronic copy of patient information. - Access to Data
More advanced medical billing companies can also offer practices access to data via VPN (Virtual Private Network) connection or via web portal. Such systems are capable of offering real-time, or near-real-time, access to data and allow client practices to view everything almost as it happens – including daily reports, status of claims, patient balances, etc. Keep in mind that such services do not come inexpensively; they require regular maintenance by very savvy staff. - Contract Terms
Finally, if your billing service does not provide you with a way out of their contract – be it with 30, 60 or 90 days notice – then think about the relationship carefully. Are you getting locked into something you might not be satisfied with just a monthFreebies For Your Customers - The How To Guide!nnel - but they add often unnecessary steps and time to the process. The most common option for greater control over your payments would be to have all reimbursements sent directly to the practice. The medical billing company can continue to update A/R based on copies of EOBs if necessary, but you never have to worry about misplaced or misdirected checks if you are receiving them directly.
Who wants a free pen with your company’s name on it? I don’t and I doubt many others do. I recently advised a small business that was charging customers $10.00 if they wanted to purchase a t-shirt with the business’s name on it to stop. Sure they sold shirts to about 10% of their members but the profit margin was only $4.00 per shirt.Instead, I advised them that during the initial sign up for each new member the business owner provide a free t-shirt with the business’s name on it in exchange for filling out a short survey designed to categorize who were the business’s customer base. In order to get the t-shirt the customer would have to sign up for a minimum of 6 months.I did so be - Patient Information
While the EMR revolution is building, many practices are still moving around enormous amounts of paper. If you are among these, you will need to communicate your patient information to the medical billing company in such a way that you retain copies or originals of encounter documents. Typically, encounter information is sent via fax or mail mail. If mailing patient encounter information to your medical billing company, consider retaining the originals and sending only copies. Though rare, there is always the possibility that it might get lost in the mail, or the medical billing company could misplace a record. Also, with a more advanced medical billing company you will find scanning or imaging of all documents that come into the office is not uncommon – and they can usually send a monthly CD back to your practice for an extra, electronic copy of patient information. - Access to Data
More advanced medical billing companies can also offer practices access to data via VPN (Virtual Private Network) connection or via web portal. Such systems are capable of offering real-time, or near-real-time, access to data and allow client practices to view everything almost as it happens – including daily reports, status of claims, patient balances, etc. Keep in mind that such services do not come inexpensively; they require regular maintenance by very savvy staff. - Contract Terms
Finally, if your billing service does not provide you with a way out of their contract – be it with 30, 60 or 90 days notice – then think about the relationship carefully. Are you getting locked into something you might not be satisfied with just a monthWorking Effectively with Recruitersth a more advanced medical billing company you will find scanning or imaging of all documents that come into the office is not uncommon – and they can usually send a monthly CD back to your practice for an extra, electronic copy of patient information.
If you've done much job searching, you may have worked with a recruiter at one time or another. Maybe your experience was terrific and you found the job of your dreams, or maybe the recruiter treated you like a commodity to be shopped to the highest bidder.On March 13 I held a joint teleconference with Joe Centrella of Resource Options Inc., one of the premier recruiting and placement firms in the Boston Area. You can hear a recording of the conference here. The official topic of the teleconference was, "What Do Recuiters Do For You", but as it developed, a better title would have been, "How can you find a really good recruiter, and how can you work effectively with him." The discussion r - Access to Data
More advanced medical billing companies can also offer practices access to data via VPN (Virtual Private Network) connection or via web portal. Such systems are capable of offering real-time, or near-real-time, access to data and allow client practices to view everything almost as it happens – including daily reports, status of claims, patient balances, etc. Keep in mind that such services do not come inexpensively; they require regular maintenance by very savvy staff. - Contract Terms
Finally, if your billing service does not provide you with a way out of their contract – be it with 30, 60 or 90 days notice – then think about the relationship carefully. Are you getting locked into something you might not be satisfied with just a month down the road? Your medical billing company should have an incentive to keep you happy as a client. The service provider whose willing to give you the “out option” with short notice is most likely more confident of their services than the one seeking to tie you down for six months or a year.
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