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Lets talk about building a solid medical practice, in this case we will cover building a referral patient base .
In many cases you will hear someone recommending you to hire a practice rep or a marketing rep, to personally go out and meet with doctors of other practices on your behalf.
Sounds like a great idea and I am sure it works in some cases, but does it work in today’s market, I am not certaint. What I do know, if you are to hire the right professionals to start your practice, or... Read Full Story
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Let’s see what is the cost for a sole practice start up in today’s market.
There are many factors involved in the cost of starting your own practice, you have to see what you can afford before you make your move.
Keep in mind it is not what you spend, it is how much you can make in return. This brings up to a question of using a professional practice start up consultant. Given what an experienced consultant at a reasonable rate can bring to the table, we think that the service does pay... Read Full Story
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We would like to touch base with Medical Practice Marketing.
We find that many physicians find themselves working harder then ever, in today’s market.
There are many reasons why you might have a problem gaining client base if you are in existing, or a new start up practice. In most cases it is not enough visibility. Whether not enough physicians that can refer patients to you are familiar with you and your practice, or not enough advertising, these are all good reason why your practice is... Read Full Story
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Opening a Solo Medical Practice!
If you are a physician launching a solo practice, or at least considering starting a private medical practice, most likely it means it is time for you to do it.
The first thing on your mind should be a business plan, it is recommended to draft one on your own and then take it to a professional to handle the rest. Don’t handle the business plan on your own, you will not save money by doing that, in fact you will lose money in the long run. (nice things to... Read Full Story
Published to Help with Medical Practice Management
Wikizines are interactive magazines that anyone can create or edit - and this one is called "Help with Medical Practice Management". Here you can find fresh voices and respond in real time. Some members write articles about recent news and trends related to the wikizine's topic, others recount relevant personal stories or share their favorite pictures and video clips. Got an interesting idea or story to share with other members of this wikizine? Well, then put on your journalist's cap and add... Read Full Story
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Does your office collect the right amount during a patients visit?
A recent survey released on June 15th, 2009 by NaviNet Inc., found that 49% of practices were unable to estimate the correct amount due at the time of visit, other then predetermined co-pay.
As a result a result according to McKinsey & Co. doctors collect only about half of the balance due from patients.
What practices don’t understand is that collecting at the time of service is one of the things that must be done, the... Read Full Story
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Are your claims being underpaid, or not paid at all?
It is amazing how practice owners to not know where they stand when it comes to collecting their claims from the insurance carrier.
Some just think by having a biller on premises insures them that they will get paid!
I can asure you this is not the case. Billers on salary have no incentive that will drive them to get you the money that you deserve. Please keep that in mind.
Someone has to supervise the billing process that your... Read Full Story
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Practice owners know that most returned insurance claims often become Unpaid Insurance Claims.
Carriers deny claims for just any old reason now days!
You need a professional to deal with the insurance claims, someone that is willing to spend time to go after the rejected claims and get you results.
Most of the time the problem is in-house. Too busy to correct and resubmit it or/and not that devoted staff member ignores the returned claim, puts the claim aside hoping it will go away... Read Full Story
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Some things about HIPAA and OSHA that you need to know in today’s medical practice, or when you are opening a new practice .
The most important Aspect of HIPAA is the privacy protection act.
The HIPAA privacy rule went into effect on April 14, 2003 for “covered entities”
“A physician practice is almost always a covered entity, subject to the HIPAA Privacy Rule.” As such, the practice must implement policies, procedures, and forms to comply with HIPAA requirements.
The Privacy rule... Read Full Story
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Medical Practice Management
Starting/relocating or joining a new Medical Practice can be overwhelming at times.
The check list below can get you on the way, we do recommend at least some professional help along the way.
Physical Location in medical office condition with phone service in place
Office manager and/or Practice Management Consultant
Check for all required Licenses
Federal Tax ID
Workers Compensation Insurance
Professional Liability Insurance
Hospital... Read Full Story
