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Tuesday August 13, 2013
Physicians with MPD – Healthcare providers versus revenue managers!
Healthcare reforms have bought in a myriad of changes, also requiring physicians to multitask. Considering the extent of time physicians now need to divert into revenue management besides patient care; they may easily seem to have MPD (multiple personality disorders)!
Industry Standards State
  • In 2012, physicians saw 16.6% fewer patients per day than in 2008, this trend can result in a huge reduction in the number of patients seen per year
  • In 2012 physicians spent nearly 22% of their time on non-clinical paperwork
Challenges medical practices face while procuring revenue-
  • Varied mix of payers & rigid reimbursement processes
  • Intricate regulations from federal, state & local governments
  • Introduction of value-based reimbursement programs
  • Increased demand for billing transparency as well as data protection
  • Increase in competitive pressures.
In this scenario readjustment of workload by partnering with a billing specialist can be a useful avenue for physicians to explore to reduce the negative impact of simultaneous task performance.

MBC as your Revenue Manager… MBC billing experts effortlessly handle diverse payer mix and also regularly conduct gap analyses on revenue cycle processes. Our billing experts comply with all necessary government standards and regulations and also follow the HIPAA and privacy norms. Read More...
Benefits of outsourcing your RCM to MBC -

Acquire increased focus on patient care

Free up staff to focus on other areas of practice

Achieve significantly lower expenses & increase savings

Eliminate the need to handle staff related problems

Reduce investment in costly hardware, billing software & training
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MBC = Reduced operating costs + reduced bad debt + enhanced net revenue + accelerated cash flows!
"Cost"- a vital component of patient's education during an office visit

Health care costs and patient deductibles seem to be only taking one path which is the uphill one and physicians are realizing the importance of discussing costs with patients during an office visit.

Industry standards state-
  • Percentage of U.S. gross domestic product which comprises of health care - 17.6%
  • Expenditure on tests and procedures which do not benefit patients much- $750 bn. per year

Industry experts speak-
Most industry experts believe that patient education related to cost can help lower costs for patients without hindering quality of care

Efficient practice management equals to higher revenues!
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