No-shows cost the healthcare industry an estimated $150 billion in profit each year. When a patient unexpectedly misses an appointment, the consequences can be ruinous for their health. For your medical practice, a high rate of no-shows can compromise revenue and, ultimately, the quality of care you provide. Not only…
Revenue metrics can provide insights far beyond basic profit margins. Patient engagement, insurer relationships, human resource management, and infrastructure can all be optimized with a more robust revenue metric model – so long as you can effectively track the revenue cycle data. Why revenue metrics are important The more refined…
For any physician looking to expand their client base, physician credentialing is a crucial business step. Credentialing enables you to work within insurer networks. Billing in-network simplifies the revenue cycle and opens you up to more potential patients. It’s a standardized industry practice – but that doesn’t mean that the process…
So you’ve secured funding, picked a location, built out a beautiful space for patients to receive care. You’ve got a lot of details to manage in the coming months. This checklist is designed to support you in covering all the fundamentals for a practice that is safe, secure, efficient and…
Whether you’re opening a new practice or first establishing yourself in the profession, you’ll almost certainly need to be credentialed with insurers. Credentialing is a step toward partnership with any insurer. It’s a way to secure vital revenue streams. And it’s a way to ensure quality among all new physicians you…
If you’re opening a new medical practice, medical credentialing is probably the first part of a very long to-do list. Credentialing is crucial to getting paid as a medical practitioner – just as physicians need credentialing in order to work with insurance companies, their medical business does too. This post…
A quick reminder to practices that there are a handful of important upcoming Merit-based Incentive Payment System (MIPS) dates and deadlines: December 31 – 2020 Promoting Interoperability Hardship Exception and Extreme and Uncontrollable Circumstances Exception Applications Clinicians, groups, and virtual groups who believe they are eligible for these exceptions may apply, and if…