Practice Revenue
Next Entries »Working Accounts Receivable – Part One
Monday, July 19th, 2010(This is Part One of Working Accounts Receivable.) In assessing accounts receivable (A/R) it is often distressing to know just where to start. You want your medical practice A/R to come down, but right now it might seem almost impossible with everything you have on your plate. In conducting A/R analysis, I often find these tips to be helpful in addressing the need to lower the A/R and increase the revenue of the practice: 1. Know what your practice management system can do for you. Knowing your financial system will help you to determine which reports provide the best look [...]
How Social Media Can Help A Medical Practice
Monday, June 28th, 2010Are you on Facebook practice manager? Whether you are or are not it is important to note that Facebook had a growth of 145% just in the last year. From a business standpoint there is something to take note of here. How many businesses do you know that are growing at this rate? Social media is here to stay; and it is important that medical practices see the value that it has to offer for their business. Concentrating on the media part rather than the social part can help enhance your practice visibility by: Attracting more attention to your medical [...]
A Newsletter Can Be Generating New Revenue For Your Medical Practice
Monday, June 14th, 2010Practice manager, do you have a goal to increase revenue for your practice? If so, is it specific? When thinking about setting goals, if you need more information you can review Success Tips to get specific with setting SMART goals for increasing practice revenue. Once you have a specific number in mind for increasing revenue by a specific date or timeframe, it now becomes measurable and therefore attainable. I guest posted this week on Mary Pat Whaley’s blog on a topic about utilizing a newsletter (preferably e-newsletter) to bring in more revenue for your practice. It is just one way [...]
Creating Practice Policies For Collecting Patient Payments
Thursday, April 1st, 2010How good is your practice at collecting at the time of service? Collection rates can be improved in any medical practice with following office protocols and policies. If you do not have policies on collecting then now is a good time to create them. Here are a few steps for creating a collection policy within your practice. Step 1 – Collecting Begins With Appointments When creating your collection policy for the practice, think of where the visit begins. Patients are much better at paying when they are informed up front of the expected costs. Instill a practice of affirming to [...]
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