7 Tips For Achieving And Sustaining Financial Health In Your Practice

Healthcare providers are working harder than ever before — and spending less time with each patient — to see even a small increase in their income. They have to cope with an avalanche of complex rules, regulations, and administrative processes just to run their practices. At the same time, costs are increasing and reimbursement rates are declining. The only way for a practice to achieve financial health in this demanding environment is to learn how to operate at peak performance level.

Taking into account all the tasks your practice needs to perform systematically in order to achieve financial health is a first step. This leads many practices to decide they can’t do it all on their own. They discern which tasks really need to be done by the practice and which can be shared with a practice management partner, freeing them to look at the big picture. Finally, they gather the kind of actionable performance and benchmarking data that enable them to achieve the level of success they desire.

Read the complete white paper to learn about these seven tips:

1. Figure out what you can do, can’t do, and could do better.
2. Convert “lost” patient time into billable time.
3. Pre-process patients to ensure efficient, profitable appointments.
4. Don’t let money walk out the door.
5. Bill appointments immediately and make sure claims are received.
6. Swiftly review and appeal denials and underpays.
7. Track, benchmark, and improve practice performance.