23 Questions To Ask Before Creating A Finacial Policy For Your Medical Practice

Written by guest blogger, Mary Pat Whaley Your financial policy is your roadmap and will determine how the practice will handle the collection of patient balances. The financial policy is the document your practice will come back to time and time again. If a question arises, ask “What does our Financial Policy say?"Publish it electronically on your website and physically in new patient packets and have your patients sign it and keep a copy of … [Read more...]

How To Implement A Credit Card On File Program For Your Medical Practice

My friend Mary Pat Whaley from Managementmypractice.com recently published a FREE 30-minute webinar where she introduces the concept of Credit Card on File exclusively for PediatricInc subscribers. How cool is that?  Actually, that is partially true. The webinar is in fact free. But it is not only for PediatricInc subscribers. It is available for everyone! (I got carried away). Even though this is only a 30-minute webinar, Mary Pat … [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...]

Running A Restaurant Like A Medical Practice?

Private practice, in many ways, is unique to other business. One particular distinction is that doctors are not paid at the time of service, but rather after a long administrative and burdensome effort.   Funny Reimbursement Model I’ve always found the whole physician reimbursement model odd. It would be like going to a restaurant, eating a full meal, handing over a “card,” as some sort of good faith gesture of payment, and leaving the … [Read more...]