Leading Through Change: Virginia Administrator Shares Journey

Posted by Nancy Clements on Sep 17, 2021 10:30:00 AM

Rachel K. Downey, MHA, is an Administrator at Dermatology Associates of Virginia where she has worked for more than six years. Founded in 1969 by Richmond native Charles M. Caravati, Jr., M.D., the practice has grown to 16 Board-certified physicians and four mid-level providers practicing at six central Virginia locations with a goal to excel in quality, patient experience, and cost-effectiveness.

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Topics: medical practice issues, emergency preparedness, financial management, medical office leadership, COVID, change management

How Can Changes in Telemedicine Financially Impact Your Practice?

Posted by Practice Management Institute on Aug 23, 2021 8:09:34 AM

The rapid evolution of telehealth services has helped keep medical practice virtual doors open to meet their patients' health needs during the pandemic. But with new utilization comes cautionary areas from a billing standpoint, and it's important to stay current on updates and compliance protocols to promote revenue growth and avoid financial loss. 

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Topics: Practice management, payer contract, medical office compliance, medical practice issues, medical billing, financial management, medical coding

Tips for Better Revenue Cycle Management in a Medical Office

Posted by Practice Management Institute on May 12, 2021 6:44:51 PM

How would you characterize the success of your medical office? Is it a steady flow of patients, low denials, providers that take an active role in the business, a great clinical and administrative team? How about the financial health of the practice? It’s hard to guide the ship in the right direction when you are too busy plugging holes in the galley.

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Topics: Practice management, Practice cash flow, medical practice issues, financial management, patient billing, patient collections

Practice Managers and Auditors: Learn to Stand Your Ground with Payers

Posted by Nancy Clements on Apr 13, 2021 5:15:06 PM

Changes to healthcare delivery, and billing codes during the pandemic, along with major updates to the E/M documentation guidelines have created a ripe environment for government-contracted auditors. But you have the right to challenge auditors. Take steps now to establish your culture of compliance.

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Topics: Practice cash flow, payer contract, carrier contract guidelines, medical office, medical billing, financial management, auditing

Education and Hard Work Have Helped Elizabeth Daley Set a Strong Foundation for Career Growth

Posted by Nancy Clements on Mar 10, 2021 12:39:18 PM

Elizabeth Daley, MHA, CMIS, CMOM, CMCO, is Director of Client Success at Collect Rx, a 15-year-old company launched by former executives from third-party vendors who pioneered the out-of-network (OON) industry. The company works with 2,100 clients across the country and have built a proprietary database with thousands of claim resolutions at their fingertips to facilitate and expedite the negotiation process.

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Topics: Practice cash flow, value proposition, carrier contract guidelines, medical practice issues, medical billing, financial management

5 Ways a Medical Office Manager Certification Can Bolster Your Career

Posted by Practice Management Institute on Jan 22, 2020 9:17:27 AM

Looking to start or advance your career in Medical Office Management? Earning a certification can be a huge bargaining chip when trying to snag a dream job or advance into a supervisory role with your current employer. In either case, you’ll want to weigh factors like the investment of time and money to know if a certification is right for you.

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Topics: medical office manager topics, medical practice issues, financial management, HIPAA compliance

5 Ways to Improve Patient Collections in a Medical Practice

Posted by Practice Management Institute on Sep 24, 2019 8:11:00 AM

A Medical Office Manager’s Guide to Patient Collections

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Topics: Practice cash flow, medical office manager topics, medical billing, financial management

HIPAA Compliance Checklists You Need Now to Safeguard Your Medical Practice

Posted by Practice Management Institute on Sep 15, 2019 5:41:22 PM

Is your medical practice following current HIPAA compliance guidelines? Keeping track of current regulations is challenging and time consuming. But disregard for mandatory patient privacy laws can bring costly violations, fines, and penalties if a breach occurs. The following checklists outline important steps that organizations must take to secure Protected Health Information (PHI). Keep these checklists on hand to help keep your practice compliant.

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Topics: Practice management, medical office manager topics, medical office staff, financial management, HIPAA compliance, HIPAA

Medical Office Know-how—5 Ways to Improve Patient Collections

Posted by Practice Management Institute on Sep 4, 2019 5:28:18 PM

With rising costs in today’s medical practice, it’s becoming more important than ever to receive timely payments from patients. With the high costs associated with printing and mailing statements, and lingering late and missing patient payments, it’s enough to send the medical office budget into deficit. Though collecting insurance company payments is the lifeblood of all medical facilities, out-of-pocket patient expenses such as deductibles, copays, and coinsurance amounts can’t be dismissed. They can add up quickly in lost revenue if stricter collection procedures aren’t in place. 

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Topics: Practice management, medical office manager topics, medical practice issues, medical office staff, financial management

10 Ways to Reduce Overhead in the Medical Practice

Posted by Practice Management Institute on Sep 3, 2019 9:26:46 AM

Medical practice overhead is a growing concern for many practices that are looking to thrive and simultaneously maintain quality patient care. In today’s medical practice, overhead is directly related to patient volume, collections, and its general structure. These ongoing administrative and clinical expenses are necessary for the business to function but can have a negative impact on the practice’s revenue.

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Topics: Practice management, medical office manager topics, medical practice issues, financial management

7 Key Steps for Better Budget Planning in the Medical Office

Posted by Practice Management Institute on Jul 17, 2019 12:01:59 PM

Managing the day-to-day finances and budgetary needs of a busy medical office is a huge responsibility. Medical office managers should have formal training in accounting and financial best practices like cost analyses, financial reports, and financial forecasts. Managing the budget is a major undertaking but learning this one skill will set you up for success in other areas of financial management.

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Topics: Practice management, CMOM, medical office manager topics, budget planning, financial management