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Ahhh, January. We’re already six days in, and it’s still hard to believe we’re a week into a brand new year.  Perhaps especially so if low volume has you moving through your days more slowly — and worrying about what your revenue numbers will be at month- and quarter-end. The January effect on medical practices […]
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It’s almost that time again: deductibles re-set in less than a month. Got your game face on? For many practices, the end of the year is so busy, it’s hard to think about planning for slow business in January, February and March.  Ironically, the cause of the busyness in Q4 is related to the cause […]
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Outsourcing your medical billing to a billing service has the power to make your practice much easier to manage.  It can also increase your profitability. But as the world of reimbursement continues to evolve, it’s important to stay involved with the process.  If you’ve adopted a “that’s off my plate now” approach to using a […]
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What’s the worst thing that can happen when you staff aren’t trained to manage patient deductibles and collect up front?  It’s not that you won’t ultimately get paid.  There is something worse that can happen, and it’s not that uncommon: your practice can end up losing the revenue for the service and losing the patient. […]
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It’s no secret that physician practices are challenged more than ever to get paid in full for the services they render. Deductibles keep getting higher – and more patients are facing them. What’s more, new research from the Kaiser Family Foundation shows that only about half of insured American families have sufficient resources available to […]
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The portion of your revenue that must come from patient collections has skyrocketed.  If you haven’t mastered patient collections, you risk losing more of your practice’s earned revenue than ever before.  But — on the plus side — there are more new ways to tackle this problem than ever before. I’ve got a new, free […]
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The portion of your revenue that must come from patient collections has dramatically increased over the past decade. And higher copays and deductibles aren’t going away – in fact, they’re becoming the standard. A recent Kaiser Family Foundation study determined that average deductibles for patients on employer-sponsored plans have more than doubled, and now average […]
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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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The deductible reset is looming in January, and it’s poised to wreak its usual havoc with cash flow. Cash-flow impact could easily be even worse this year, given that deductibles have likely increased and become more of a problem for many of your patients. Naturally, alerting patients to the possibility that they will be responsible […]
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Even this late in the year — when we typically assume many patients will have met their deductibles — we are hearing from practices that some patients seem to be delaying or avoiding care because of concerns about costs.  This is not limited to the ACA plans, which tend to have high deductibles, especially on […]
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If you missed Laurie’s webinar, “Front Desk Collections: the New Linchpin of Profitability” (sponsored by Wellero) — one of her most popular webinars ever! — you’re still in luck.  Sign up here and watch it whenever you like. This practical presentation hits on some ways you can immediately increase profitability while avoiding pitfalls that can […]
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The New York Times reported today that “On Health Exchanges, Premiums Maybe Be Low, But Other Costs Can Be High.” This is something we’ve been talking about for a couple of months now — often getting skeptical looks here in our super-blue home-town.  But it’s not about partisanship.  The ACA is simply accelerating the trend […]
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Here’s how you can make patient collections better in 2011: Do your homework upfront. Research patient balances before the patient arrives for his or her appointment and know what the patient owes. Then you are prepared to ask for payment at the time of visit.  This is when the patient is the most motivated and when you […]
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