Often physicians are hesitant in handing over their billing practices to an outsourcing billing company. This is mainly due to their sense of loyalty towards their in house employees. However, such cases may also result in the use of inefficient billing methods that wreak havoc on the cash flow of the practice, so as it is rendered incapable to even cover basic expenses.
However, an escape plan from this scenario includes a change in the mindset of physicians, where they use their existing staff more efficiently and effectively. Hiring a professional billing partner doesn't necessarily mean firing away the existing staff. Instead with the help of the billing company you can retrain the in-house staff to facilitate more billable services for the practice.
With a proper setup to take care of the billing, the office staff can focus on acquiring and retaining customers. Additionally, physicians can themselves devote their time in the expansion of the practice by offering more services that add value. It is only fair to conclude that outsourcing billing and coding to a professional medical billing company is the step towards a stress-free practice that reaps higher revenues.
Sometimes, doctors take half a day off during the week excusing themselves for relaxation purposes. They assume that a short work day will allow them to attend to personal matters and let them get rid of job-related stress. However, in reality, they are building financial stress on their practice.
Converting that leisure time into work time translates into larger revenues for the practice. You can opt to rotate the schedule of staff members so that they only have to work every other day. This gives them freedom and some little extra cash.
In a thriving practice, the patient's visit multiply sooner than expected. A shortage of providers at this time can be frustrating for staff and patients alike. Abandoned phone calls, long waiting time and numerous complaints can demoralize the staff and lower their productivity. Survey the issue behind the problem and count them as they are listed by staff, residents, and faculty.
Grouping similar complaints will help you chart out the major reasons behind the stress. Addressing these recurring issues will maximize office efficiency, eliminate constant rework and improve satisfaction. For suggestions, you need to choose staff members who are directly involved in the process for your task force.
Physicians today have given up on basic skills like performing appendectomies, repairing hernias, skin biopsies, treating hemorrhoids, vasectomies, and incision and drainage of abscesses. It's time to revive some of these basic skills. Doing these basic procedures will increase the quality of care you provide to your patients.
These procedural skills can also reduce health care costs by a great degree and you are more likely to meet a patient's expectations. This will help you improve your Revenue Cycle Management and take stress off your practice.
