Want a Financially Healthy Medical Practice? As changes continue to occur in the healthcare industry, physicians are taking a hard look at the numbers of a medical practice and gauging whether the year at hand will be economically successful. To analyze the productivity of the practice, physicians … [Read more...]
Medical Practice Operations: The Relationship Between Front Desk Customer Service and Revenue
When discussing medical practice operations, patient satisfaction isn’t the only aspect of your practice dependent on strong links between the office and your patients. Your first and best opportunities to give patients a positive impression of your medical practice occur when they call by phone or … [Read more...]
Avoid Bad Business Practices in Your Medical Practice Operations
Your medical practice or group works hard to settle on a sound marketing plan and your physicians pride themselves on their clinical reputations. Yet common, often overlooked business practices undermine these positives and trash your group's reputation with referrers and local businesspeople, … [Read more...]
Tips for Accounts Receivable Financial Management
Accounts Receivable Financial Management Some medical practices inevitably fall behind their accounts receivable (A/R) financial management. After all, there are often more pressing issues at hand, and the reconciling A/R work will always be there. Here is the problem: By the time you get time to … [Read more...]
Is Your Physician Practice Ready for the New Overtime Rules?
Physician Practice and New Overtime Rules On September 24, 2019, the Department of Labor issued its final ruling to increase the minimum salary threshold for executive, administrative and professional exemptions from $455 per week ($23,660 annually) to $684 per week ($35,568 annually). The new rule … [Read more...]