The Value of Having Core Values

There is a story about a frequent flyer that had reached her limit with the airline's flight crew. She did not appreciate the crew told jokes during pre-flight safety announcement. So she wrote a letter to the CEO of the airline. Among other things, the frequent flyer's letter said that felt the safety check announcements were very important therefore ought to be communicated in a serious manner. The CEO indeed receive the letter. His … [Read more...]

21 Questions To Put You and Your Medical Practice Back On Track

Things have changed since the beginning. You are now so wrapped up in the day to day that you've lost your North, your purpose, your original destination. It used not to be this way, but it seems like the practice has lost its focus. Losing focus was not intentional. You started out with a clear vision, worked out the details and began. You remained disciplined and consistent. You were not distracted easily, you kept an eye on the ball and made … [Read more...]

How Well Do Parents Know What You Do As a Pediatrician?

During the summer months, I posted on our practice's Facebook page, a note encouraging parents, to schedule their children's wellness visits. Although the message was for our entire Facebook community, I wanted to catch the eye of parents with teenagers. Don’t know how well you manage teens in your office, but in our office, we have decent wellness visit numbers with younger patients. The teen population? Not so much. Once the teen years … [Read more...]

4 Simple Questions That Will Make You A Better Manager To Your Employees

As humans, we have an uncanny ability to justify and explain situations in ways that benefit us.  For example... When we observe a father shouting, tugging or being overpowering towards their child, we raise an eyebrow and pass judgement on that parent’s poor parenting skills. If we lose our temper with our kids, we justify it by blaming the circumstances. We'll say, “if you knew how challenging my children are, you would understand.” In a … [Read more...]

Many State Medicaid Meaningful Use Attestations Delayed

My friend at the Verden Group publish thie information below on their blog. I'm reposting because I think it is important to bring awareness and maintain practices informed as best we can. The Verden Group is recommending practices interested in this issue to visit your State EHR incentive web page for details. … [Read more...]

Can Your Medical Practice Afford To Drop An Insurance Carrier?

I received a letter from the University of Chicago Medical Center explaining that effective Jan 2016; they will no longer accept BCBS. The announcement took me by surprise. Not because the hospital was dropping an insurance plan- but because they were dropping a major plan, BCBS. BCBS has a significant market share in Chicago; which translates to a lot of patients having BCBS as their insurance carrier. I can only imagine why the hospital … [Read more...]

Simple Formula To Calculate How Much Of What You Can Collect, Do You Collect

Today’s post by guest blogger Mary Pat Whaley - Managemypractice.com. Mary clarifies a few misunderstandings managers often have regarding the term collection percentage. She also defines the term “funny money.” Read to find out what she is talking about.   COLLECTION PERCENTAGE One of the most talked about and least understood metrics is the collection %. There are two reasons it is misunderstood. One is because most people talk about a … [Read more...]

What Do Patient Lab Reports Have To Do With A Medical Practice's Financial Statements?

An important aspect of managing a business is learning how to read financial statements. It's no secret, however, that most doctors don't have formal business training. So reading financial statements to some is like reading in a language you don't speak. But that is not an excuse for physicians that own or have a stake in their medical practices not to learn fundamental business principals such as reading financial statements. Learning how to … [Read more...]

What Do Patient Lab Reports Have To Do With A Medical Practice’s Financial Statements?

An important aspect of managing a business is learning how to read financial statements. It's no secret, however, that most doctors don't have formal business training. So reading financial statements to some is like reading in a language you don't speak. But that is not an excuse for physicians that own or have a stake in their medical practices not to learn fundamental business principals such as reading financial statements. Learning … [Read more...]

Let's Talk About What Happened In Vegas

My friends from the Pediatric Management Institute (PMI) put on another great practice management conference in Las Vegas last January. The content was excellent, thanks to the fabulous faculty PMI brought in. The topics varied from customer service principles to fundamental changes happening in the health insurance industry and how those changes are - or soon will be - affecting doctors' financial bottom line. Below are a few highlights and … [Read more...]