As we’ve posted here before, almost all practices face the risk of a cash flow crunch in January and, really, through all of Q1, thanks to the deductible reset.  (January’s revenue collections are sometimes also hit lower volume in December because of the holidays — a double whammy.) In our experience, the decline in revenue […]
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Medical practices are taking note of the importance of strategic planning, as they tread the unknown waters of healthcare reform and adapt to changes they may not have invited if given a choice. But do the key stakeholders of most private medical practices really understand what it takes to succeed with efforts to create and […]
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The Patient-Centered Medical Home is so much more than just a payment innovation — it’s an idea that appeals for clinical reasons to so many physicians and practice managers, who were already aiming to provide the higher level of care-coordination and patient engagement that is the foundation of the PCMH.  But many small practices we […]
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There are lots of reasons to spend time in the exhibit hall when attending practice management and other medical conferences. By visiting the exhibit hall you will learn a lot about what’s going on in the industry, how vendors are seeking to meet your future needs and what technology changes have emerged that can make […]
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We were recently called into a group practice where the physician owners of Struggles Medical Group were disillusioned with the practice of medicine. Their concerns were typical, shrinking reimbursement, dismal profits and the threat of new competition, as a large urban academic faculty practice was beginning to penetrate this suburban community.  Sound familiar?  This is […]
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This is certainly a reasonable question to ask considering the rapid-fire change, threats and unknown factors medical practices face due to the Affordable Care Act.   But here are a few things you can do to deal with all of this. First, keep your eye on the ball.   Don’t throw up your hands in frustration, but […]
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A recent UC Davis study revealed a surprising finding – an inverse relationship between patient satisfaction scores and health outcomes.  In other words, those most satisfied with their healthcare providers were, on average, sicker and more likely to die than their less satisfied counterparts! As might be expected from these findings, healthcare costs were also […]
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A new year has already begun! If you are hoping for significant year-over-year improvement you need to act – and sooner rather than later.  Here’s how great practices help ensure that each year is better than the last. Examine past performance.  Consider what data points are important to review.   As a guide, great practices will […]
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Recently, we worked with an OB/GYN practice that had taken some big steps to reduce staff costs.  In particular, the practice was concerned about their long-standing process of providing new maternity cases a lengthy consultation with an RN — covering all the information a newly pregnant woman would need, and offering her a relaxed opportunity to ask […]
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I recently completed a series of articles for Kareo’s Getting Paid blog about how small business management issues relate to practice management.  While medical practices have an important mission that reaches beyond business, they can’t achieve that mission without succeeding on business terms.  And, in many fundamental ways, medical practices are not so different from […]
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It’s that time of year again … when every goal you’ve imagined for your practice seems possible, and every problem seems fixable.  So you make that long list of resolutions, but, by week two, you’re already overwhelmed and discouraged.  After all, there was a reason you didn’t fix all those problems or implement all those […]
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Almost everyone wants to be more successful and achieve more each year than they did the year before.  Here are a few straightforward things you can do to guarantee your success in 2012. First, ignite your passion for the practice.  Recognize all the capabilities you have and how you can use those to grow the practice in […]
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Whether you’re contemplating expanding your practice, starting a new practice, or simply wondering what your practice’s profit potential might be, your profits depend on your understanding of local patient demographics. With a host of free online services available, it’s easier and less expensive than ever to understand your area’s demographics and how they might represent […]
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