5 Tips about Family Practice to Improve Revenue Instantly

In today’s competitive healthcare space, as you’re dealing with crushing administrative burdens and rising operating costs, you need every tool at your disposal to keep your practice profitable.  Here we explained 5 essential tips about Family Practice to improve revenue instantly.

Tips about Family Practice to Improve Revenue instantly

1. Reduce Administrative Burdens

Around 50% of family physicians devote 10 hours per week to administrative tasks. Physicians should avoid tasks that don’t require an MD. Examine your activities and delegate as many administrative tasks as possible without affecting your understanding of the practice’s operations. Outsource family practice billing services to experts; that will help you to increase your profit margins by managing crucial parts of the revenue cycle. Billing experts perform complicated tasks like submitting claims, issuing patient statements, and so on. This allows physicians to focus more on patients.

2. Improve Patient Flow

Physicians should focus more on patient care. They should dedicate at least 37 hours weekly to direct patient care. Being aware of your practice and knowing that it is well-managed is the key to efficiency. Ensure you are making optimal use of staff, facilities, and time. Drive your efforts to provide care to a large community of patients. Staying on schedule, dictating progress notes in the exam room, and evaluating new services and equipment beforehand will help you see more patients.

3. Use a Good Scheduling System

Many practices hire an assistant without the expertise to schedule appointments manually. Good scheduling plays a very important role in increasing patient flow by two or more patients per day. The increase in the number of patients is directly proportional to the net income of a practice. Employ dedicated resources to develop a good scheduling system; if required hire an expert to manage it and make sure the entire staff understands it. One can also consider appointment scheduling software for this purpose. Utilizing a computerized system is effective, productive, and less labor-intensive.

4. Establish an Incentive System

A good incentive system helps to make the medical staff feel vested in the outcome and improves efficiency and teamwork. Set your expectations and reward performance, but be assured of the benefit before you start an incentive program.

5. Undertaking Multiple Procedures

Family physicians should undertake procedures that they can easily and confidently perform. Doing an array of hospital procedures widens the scope for more patients. If you do procedures that your colleagues don’t, you can ask them to refer their patients to you.

MedicalBillersandCoders.com is one of the largest consortiums of expert billers and coders in the US, servicing over 40 medical specialties. Their professionals help small and medium-sized family practices identify areas of revenue loss. MBC prepares its staff to handle the complexities of EHR, EMR, and ICD-10 and can help you get your practice back on track. You can either take the entire suite of MBC’s billing and coding services or just parts of it that suit the needs of your practice. If you’re interested in outsourcing your medical billing and coding to improve revenue for your family practice, contact us today at 888-357-3226 to learn how we can help you.