13 Jan 5 Things You Should Implement in Your Office in 2017
It’s only midway January, and not too late to implement some New Year’s Resolutions in your office. We touched on some ideas in blogs throughout last year regarding practice and revenue cycle management best practices.
Here are a few things you should implement in your office (or at least consider) for 2017:
1. Credit Card on File
- This is a great patient satisfier and will save your practice money on statements. We blogged about this topic more in depth last week. Check it out here.
2. Analyze Reports on a Regular Basis
- Choose a few valuable financial reports that collectively provide a thorough picture of your practice’s financials and review on at least a monthly basis. A/R reports are particularly valuable, you can dive into those here.
3. Review Fee Schedules Regularly
- Review your practice’s charge schedule on an annual basis. Ensure that you are not leaving money on the table by setting your fees too low. Check out our post “Fee Schedules: Don’t Leave Money On the Table“ for more info.
4. Managed Care Contract Review
- Review your practice’s managed care agreements on an annual basis. Is there a change in fees? Is the contract still worth having? Should you consider working to renegotiate this year? Find out what you should look for here.
5. Credentialing Double Check
- Every state handles credentialing differently. Maintain a schedule consistent with the requirements of your state and contracted payors to ensure that no credentialing needs slip through the cracks. Here are some general tips to help you avoid negative financial impacts on your practice.