Practice Management
As a physician, becoming part of a physician referral network is one of the best things you can do for your medical practice. You’ll build relationships that will help ensure the success of your practice even as other sources of revenue evaporate due to changes in the economy and health care system. You can either join an existing referral network or, if you prefer, create one of your own by seeking out and cultivating relationships with other physicians. If you join an existing network, you’ll have to evaluate it carefully to determine whether or not it meets your needs. To…
I don’t know how what he future of healthcare will hold with the changes that are mandated to come because of the Patient Protection and Affordable Care Act (PPACA). Of course, the PPACA may or may not become law, in part or in its entity pending the Supreme Court’s ruling due next summer. But no matter what becomes of the PPACA, as a healthcare provider you should concentrate on the basics of practice management and treating patients. Continue to be, or become, the type of doctor that you would want to be treated by if you have any health problems. …
As a physician, you have probably noticed that your patient load – and the accompanying revenues – tends to ebb and flow. Doctors’ incomes are not subject to the same cyclical nature as, for example, owners of retail stores, who rely on holiday shopping to make up for the slow times. However, your practice may well experience slowdowns during summer, when people take vacations, and around the holidays, when they visit family and spend all their available money and time shopping for gifts. Slowdowns do vary by specialty and geographic area; cosmetic dermatologists, for example, may see an increase in…
We all have them, but no one wants them--difficult patients. I’m not talking about patients with complex medical conditions. I’m talking about patients who try your patience. The occurrence is so frequent that Seinfeld had an episode devoted to the problem, though for the doctor and the real patient it is not so humorous. For over 30 years researchers have found that doctors have consistently described about 15-20% of their patients as ‘difficult’. More detailed surveys have found that doctors who are younger and female tend to have more ‘difficult’ patients in their practice.
Tuesday, 05 July 2011
Written by DG Comfort
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Problem Solving: Do You Understand the Relativity of the Problem? |
Albert Einstein was once asked how he went about solving his problems. He replied, “If I had only one hour, I’d spend the first 50 minutes defining the problem and the last 10 minutes solving it.” I don’t know if this story is true or not, because I have heard the same story about a lumberjack, who, when asked how he would go about felling a tree in one hour reply, “I’d spend the first 50 minutes sharpening my ax and the last 10 minutes felling the tree.” The point of these stories is that the key to solving any…
How do you define a successful practice? Everyone will answer this question differently, and they will all be right, for them. But, no matter what your definition of a successful practice, there are several criteria that must be met in order for you to obtain the success that you want to achieve. Integrating any or all of these processes into your life will improve you overall success.
If you accept Medicare payments in your practice then you have undoubtedly had Medicare claims denied for payment. Often there appears to be no logical reason for denial of payment (and I would argue there is no logical reason for the denial). I have had Medicare payments denied for payment, my office resubmitted the claim without a single change and had the claim paid. The initial denial seems to occur only to cut Medicare payments, knowing that a certain percentage of doctors or recipients will not appeal the denial, thus saving the Medicare system money. A cynic may conclude that…
It’s reality folks: in the world of healthcare, going it alone is virtually impossible these days. As a stand-alone, multi-physician practice or sole practitioner, the myriad of requirements and obligations involved in healthcare have made being a small player a real challenge. Hospital chains, both for profit and nonprofit, have become negotiating powerhouses – and their clout guarantees preferential payer contracts.
Do you have the right patient mix? Patient Mix is a tricky road to navigate. Many practices just assume the more patients it sees, the more money it makes! Well, what if you could see different patients and make more? What is patient Mix? Patient Mix is the equation that leads to all the patients you see in your practice. Simply put: How many PPO patients, HMO patients, cash patients, and Medicare patients do I have? For example a typical General Practitioner runs about 85-90% on the large HMO patient mix structure. Meaning you are contracted with the top 5-10…
Tuesday, 13 April 2010
Written by Dr. Fred Roh, EdD
Is the World Unraveling? Should You Go Into Hiding Or Come Out Swinging? |
I met with a physician last week who was describing his substantial loss of money in his practice and investments over the last two years. As any prudent person would say, he commented, “And, I have had to cut back my promotional budget significantly.” I replied, “That’s the exact opposite of what you should be doing.” Follow my logic. If promoting your practice is the primary way that you grow, how could you expect to grow if you don’t promote your practice? Granted, things are very scary out there. It is not business as usual. There is a “new normal”…
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