Another year has come and gone. It’s time to celebrate the accomplishments of the past year and look at ways to improve the upcoming year. However, throughout all the holiday parties, you need to make time to complete the checklist that I do every end of year for my medical practice.
The checklist helps me ensure that I keep an eye over the business large picture.… Read the rest
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Flat salary compensation models are becoming less common. Instead, production models have become much more popular. These contracts are often called an RVU based contract. Today’s post I will go through RVU based contracts and what you need to know to avoid in these contracts.
When you submit a bill to insurance companies, they assign a value to each code.… Read the rest
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I really love all my employees. However, sometimes employees will try to take a mile if you give them an inch. Running a business is hard, and with the rise of quiet quitting, I figured it might be important to talk about ways that employees may try to take advantage of you or your business.
Some of these issues might seem harmless.… Read the rest
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With inflation reaching record levels, many medical practices are going through the rate negotiation process with insurance companies trying to get better pay. If you have never done this before, that’s okay. I was new to it also until a few years ago. Let me tell you the theme of dealing with commercial insurance companies for rate negotiations. Intentionally difficult and broken.… Read the rest
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Electronic medical records, or EMR for short, is a big decision for your company to decide which one will be used. This should be one of the most important things you “stress” over when you start up your practice. We decided to change from Practice Fusion to AdvancedMD. This decision was one that we have been mulling over for about a year.… Read the rest
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This week was a big week. My second clinic location opened! It has been a long road to get to this point. I started to have these discussions to open a second clinic almost a year prior to its opening. Our tentative opening date was January 2, 2021 but things of course got delayed and we opened end of May 2021.… Read the rest
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Wow, what a year 2020 has been! At the start of the year I thought that the hardest thing I would have to do is to finish the build of my new clinic. Little would I know that life would throw us all a curveball. The ups and downs have been dizzying so far. For now, things have at least stabilized and our growth continues.… Read the rest
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For those who followed my journey, you know that medical billing to insurances is a nightmare at times. I’ve now had a total of 4 different billers. The most recent biller almost did a complete financial disaster to my clinic. I swear I then had a stomach ulcer from the financial stress she put me through. Some may laugh at my desire to get my own biller.… Read the rest
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The growth of midlevel providers has been explosive compared to physicians. This growth has lead to many young physicians, residents, fellows, and med studies worried about what their future holds. Midlevel providers can provide wonderful access to patient care. I know many amazing midlevel providers who I have worked with in the past. This article is not here to be a bashing echo chamber to hate on midlevels.… Read the rest
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COVID-19 has affected us all negative in many ways. For this post I would like to take a step back and talk about the financial implications on my practice. In the post COVID-19 shut down, we have seen a huge drop in patient visits and income. We are not alone. It appears that many practices or groups nationwide are cutting salaries, having layoffs, or cutting back hours.… Read the rest
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