Keys to More Productive Practice Management

Posted by Practice Management Institute on Mar 11, 2020 1:49:36 PM
Practice Management Institute

If you’ve worked in a medical office a while, then this staggering statistic may not surprise you: in 2017 medical paperwork in the U.S. costs $812 billion! Administrative paperwork has always been a necessary evil. Value-based care programs have elevated the paperwork conundrum to new levels.

The dilemma providers face is how to spend less time filling out forms and more time on quality patient care. Though it’s a necessity for the financial success of the practice, most agree that a provider’s time is more useful when taking care of patients. Unless the healthcare industry in the U.S. adopts a more standardized system, say experts, this costly problem will most likely continue to exist.

Why Investing in a Medical Office Manager is the Best Bang for Your Buck

With so many demands leeching a provider’s time, it’s important to have an office manager that can run the administrative ship as effectively and efficiently as possible to maintain a well-balanced productivity level in today’s medical practice. A medical office manager is responsible for streamlining procedures and processes related to the management of the practice, personnel, finances, compliance, and managed care.

The manager serves as both the eyes and ears of the office. Here’s a summary of the breadth of knowledge that a typical medical office manager needs to have a handle on:

  • Manage the day-to-day operations with primary responsibilities to include scheduling staff, addressing patient concerns and meeting with providers and vendors.
  • Provide strategic planning and the ability to set long term goals though financial analyses, monthly reports and budgets. The manager must also understand how to negotiate contracts.
  • Implement best practices and procedures related to billing and collections and possess a working knowledge of coding.
  • Work with managed care companies on claims, pre-authorization, denials, and fees.
  • Lead the practice’s human resources department and hire individuals that have the necessary skills and demeanor to be a part of a team. Additional responsibilities include resolving conflicts, maintaining employee records; hiring, managing, terminating and training staff; develop job descriptions and implementing HR policies and procedures.
  • Provide both knowledge and experience to comply with all federal and state laws and guidelines in the best interest of the practice. Ensure and maintain clinical licensures.
  • Help the practice stay on the forefront of current healthcare trends through continuing education courses, practice management certification and workshops.

Learn How to Successfully Navigate Administrative Burdens in Your Medical Practice

Mounding paperwork is only one of many administrative burdens facing providers and managers in today’s healthcare industry. Staffing, workflow, and collections are other mainstays in the day-to-day workload.

Learn effective ways to keep your staff productive and free of administrative red tape. Enroll in Practice Management Institute’s Certified Medical Office Manager (CMOM) program. The five-part online program covers these industry issues while providing viable solutions and best practices. But there’s much more. It also teaches a wide range of administrative skills to help you better communicate, motivate employees and forecast the success of the practice well into the next decade.