Why Your Practice Is Having A Hard Time Making Ends Meet

The front desk representative handed me a stack of forms to fill-out as soon as I announced I had an appointment with the specialist. It was the beginning of the year. Everything had to be updated. We all know the drill. While the front desk clerk was making copies of my insurance card (why do we still make copies?), I reached into my pocket to pull out the money to pay for the copay. When she got back to her chair I extended my hand with … [Read more...]

Brandon, What Is Your Policy On Keeping Credit Numbers on File? [Pediatric Practice Management AwesomeCast]

I continue to get a lot of questions about our practice's policy of collecting credit information from all of our patients. So Chip and I thought we'd dig into what is a recognized growing trend. In this episode, I describe my thoughts going into this decision, some of my concerns, and why we decided to collect them. Chip also asked me how do we go about collecting cards, how did I/we present the idea to parents, where I store the cards and … [Read more...]

The Reason Your Collection Letters Are Not Effective

Most patient collection letters I’ve seen come off very threatening and standoffish. They are written to intimidate. For example, they’ll say, “Final Notice” or “...your account will be sent to collections if you don’t respond...” The notion one is trying to convey is, you better pay now or else. At our practice, we sent out letters with these aggressive words. And most of them got ignored. So what did we do? We sent another letter but this … [Read more...]

Are You Happy With Your Compensation?

My buddy and co-host on the Pediatric Practice Management MediaCast has put together a Pediatric Compensation Model Survey on SurveyMonkey. The purpose of the survey is to find patterns of compensation model satisfaction among private pediatric practices. Here is Chip in his own words: In more plain language, I want to get to the core of why some practices are so much happier than others when it comes to how they pay themselves. I … [Read more...]

#4: Front Desk Benchmarking [Practice Management VideoCast]

Chip and I recorded our 4th episode of our Pediatric Practice Management VideoCast. In this episode, Chip and I talk about benchmarking, specifically front desk benchmarking. I have a little hard time with benchmarking data. Mostly because I can't pin point how I feel about them. In the video I explain my feelings, so you'll have to watch to learn the details. I also share how I go about benchmarking in our practice. Although I've never … [Read more...]

Episode 3: What To Look For When Selecting A Medical Billing Company

We recorded another video... I think we are actually getting better at this. For this video, Chip and I talk about Billing Companies. Chip shared seven tips that ought to be on everybody's mind if they are considering going with a medical billing company. I shared with Chip our experience billing services, in-house billing and what circumstances have led us to have the setup we currently have; which I describe as a hybrid model. We also … [Read more...]

Sharing The Practice Management Love Part 5: Patient Collections

Patient collections... this is the area I least like to talk about, yet it seems to drive most of my conversations in the office. I hate with a passion this aspect of running a medical practice. I’m the first to say we have to run the practice like a business, but when we are dealing with children and trying to provide care for them, it makes it more difficult to deal with collection issues. It has become more critical as people continue to … [Read more...]

How To Improve Account Receivables In A Down Economy

I’ve heard many times that health care is recession proof. People are always going to need health care regardless of the state of the economy. So, if you are running a medical practice, you shouldn’t worry about the economy… right? Well, if you are running the practice like a traditional medical practice, then yeah, you don’t have to worry about the economy. But if you are running your practice like a business, then you ought to be … [Read more...]