Don’t Overlook the Importance of Medical Practice Management

July 25, 2015

To download this article, click here: Don’t Overlook the Importance of Medical Practice Management

These certainly are “uncertain” times. It seems turbulence is surrounding the practice of medicine these
days; insurance plans want to slash reimbursement rates; Congress continues to attack the Medicare
budget; health system reform looms on the horizon; managed care continues to grow, and everyone
seems to want to set up some type of integrated delivery system.

During these times, someone has to create order out of chaos. This must be the role of both the office
manager and the physician or physicians. In other words, now is the time they together must exercise
true management in the medical practice. Otherwise, the future of one ís own medical practice might not
be too bright.

Office managers (and administrators if applicable) must expand their own role in the daily office routine of running a medical practice. First, with all of the changes now occurring in the industry. The office
manager must make sure the practice is not losing revenue needlessly. With the renewed attack on
reimbursement, why lose revenue if you donít have to? The office manager must manage the practice in
such a way to ensure the office does not lose revenue. The following are a few tips:

(1) make sure the practice fee schedule is near the ìusual, customary, and reasonableî profile for
your service area,
(2) make sure the office is not billing charges less than the contracted managed care rates (It does
(3) make sure the front desk is doing a good job collecting monies at time of patient check out (If you
collect it, it doesnít become a receivable!),
(4) make sure accounts receivable 90 days old or more comprise 20% or less than the total A/R
(5) make sure claims are filed within 5-7 days from the last date of service, and
(6) make sure the correct billing and collection systems are in place and carried out by all of the
office personnel.

To download the rest of this article, click here: Don’t Overlook the Importance of Medical Practice Management

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