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...]

Are You Following These 10-Steps Before Terminating A Physician- Patient Relationship?

This post was originally published on the Verden Group's Blog. Written by Sumita Saxena, Senior Consultant, The Verden Group It unfortunately can happen to anyone: You go above and beyond to provide your patients excellent care with uncompromising accessibility, and yet something somewhere goes wrong and the relationship quickly deteriorates. After trying your best to mend the problem it becomes clear – the relationship has broken down … [Read more...]

How to Deal with Unreasonable Patients in Your Medical Practice

A while back, I was working the front desk when a dad of one of our patients came up to me and said he didn't want to sign the credit card on file authorization. I politely insisted he needed to fill out the auth form. He cut me off with loud: "WHY? Who came up with this stupid idea?" Awkwardly I uttered, "Ummm, me." Now, both of us felt awkward. Silence... So the parent broke the silence and in a less aggressive manner he asked why we … [Read more...]

Do Your Patients Expect Something for Nothing?

I would say yes. However, I would submit that the reason our patient's expect something for nothing is our fault, not theirs. The truth is, we've given away so much over the years. And now that we want to charge for things (that have always cost us) like forms, after hour phone calls, and other things, people think we are now wanting to collect for things that they were lead to believe had no value. Not to mention they often think we are … [Read more...]

Keeping Credit Cards On File Is The Only Option

If you've read this blog long enough, and you've heard me speak at conferences, you know I'm a huge proponent of practices implementing a credit card on file policy. If you don't know what I'm talking about, I'm referring to the practice of asking patients to leave a credit card on file (with the practice) to cover balances that the health insurance companies deem patient responsibility. Much like a car rental company or a hotel requires a … [Read more...]

How to Decide on a Collection Company For Your Medical Practice

In our experience, collection companies do very little to help out with collection efforts. For starters, pediatricians' medical offices balances are generally small when compared to hospital charges, ER charges or even surgery charges. If you were in the collection business and got a commission for your efforts, would you try to collect on $10,000 or $100? In other words, our accounts are not high on the priority list. I also think that by … [Read more...]

If Only…

I've worked in various industries. I've worked in the grocery business with Nabisco, airline industry with Continental Airlines, I've consulted for companies in the travel industry, software, and finance industry. One of the things that I've noticed working in all these different places, is that each company I've worked with, has a sentence that starts like this, if only.... The grocery business talks about margins. If only our margins were … [Read more...]

Small or Big: What is the future of small private practices?

Many experts and pundits are predicting that the downward pressure we are seeing in healthcare will claim small independent private physicians first. Those that are not affiliated or belong to a hospital or large healthcare network will not survive, say the pundits. The argument is that these small practices will not be able to withstand the financial and administrative pressures of the new healthcare landscape. Others very eloquently argue … [Read more...]

10 Practice Management Reports That you Haven’t Thought Of.

There is a very common phrase in the business world that says, you can’t improve what you don’t measure. As with any business, there are many different things one can measure at our pediatric practices. So how does one know where to begin? Some things are easy to identify. For example, we tend to measure accounts receivables, productivity by provider, expenses, maybe even accounts receivables by insurance company. I also like to document … [Read more...]

Medical Billing Behind the Scenes

I wrote the blog post below on the Survivor Pediatrics blog titled “What I wish parents Knew about Medical Billing”. I didn’t post it here on PediatricInc because placing it here would have been like preaching to the choir. To my surprise, the post has gotten a lot of attention and I’ve received a lot of great feedback from people in the healthcare industry (those that actually live this day by day) as well as non-clinical or non-medical … [Read more...]