Marketing the Physician Practice Marketing your physician practice effectively has become more important than ever before. With patients responsible for an increasing amount of their own medical bills, patients are now treating their medical care the same way they shop for any large … [Read more...]
Tracking Medical Practice KPIs
Medical Practice KPIs If you’re like most providers and practice managers, you’re already busy enough keeping up with the day-to-day operations. But monitoring your practice’s financial performance remains vital to your medical group’s success as a business. It is not only worth investing your … [Read more...]
Collecting Patient Deductibles in a Medical Practice
Patient Deductibles in a Medical Practice It's that time of year again - patients will make an appointment with you and they will now have a copayment "and" a deductible to pay. As patient deductibles increase each year, deductibles can be a significant part of your medical practice cash pay … [Read more...]
Medical Practice Accounts Payable and Internal Controls
Medical Practice Accounts Payable Internal Controls The vital role that internal controls play within any well managed medical practice is widely recognized. Knowledgeable practice managers are well aware that poor controls in this single area can result in far more dire consequences than simply … [Read more...]
Steps to Managing a Medical Practice by the Numbers
Managing numbers vs. information One of my prior articles cautioned readers on the use of overhead rates as a financial indicator of practice performance. One of my colleagues called it “diddling” the overhead since overhead is an easy target in every medical practice. The point I want to make now … [Read more...]
Medical Practice Front-Office Staff Evaluations – An Overlooked Opportunity for Practice Improvement
Tensions can run high when it comes time for the practice to evaluate the performance of the front-office staff in a medical practice. Many workers (and even some managers) will just want to get the review over with, but if you approach it correctly, you can use the performance evaluation as a … [Read more...]