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User Profile @promd

author: Pro MD Practice Management

website: www.promd.us/

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promd's Posts

Best Practices to Increase Financial Health of Your Operation

Most physicians who open their own private practice do it out of a desire to provide service to their patients and to build on their relations with those patients. In short, to practice medicine. More often than not, the running of a business is secondary, or worse, an afterthought.  Read more...

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Difficult Patient Interactions

Physicians and their staff members want to be optimistic about each new patient that walks into their practice, but it is not realistic to expect every patient relationship to be a positive one. Some patients might bring a bad attitude and negative energy to your office.  Read more...

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Federal Judge Stops Aetna/Humana Merger

In a decision applauded by doctor and patient advocacy groups, U.S. District Judge John D. Bates has temporarily blocked what was being called a mega-merger between health insurance giants Aetna and Humana. Judge Block wrote in his 158 page opinion that the $37 billion merger would hurt competition in the insurance industry and end up raising prices for health care consumers.  Read more...

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Difficult Workplace Conversations

We all wish things (and people) simply worked the way they are supposed to, but sometimes there are issues that arise and must be dealt with. Sometimes those issues involve uncomfortable topics that must be addressed directly with a co-worker or employee.  Read more...

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Aetna/Coventry Pulls Out of Affordable Care Act Marketplace

Aetna/Coventry has announced that it will remove most of its offerings from the Affordable Care Act’s marketplace on January 1, 2017. Additionally, the company will stop selling insurance plans altogether in eleven states. Last month the giant insurance provider revealed that it has lost $430,000,000 as a direct result from its participation in Obamacare since 2014.  Read more...

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New Collections Workflows

Collections were not as big of a deal back in the day as they are now. Patients generally only had to pay a small co-pay for their insurance, something that many medical practices didn't even bother collecting the day of the appointment - instead, billing the patient or allowing them to pay it the next time they came in.  Read more...

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Methods to Increase Your Front Desk Collections

Collecting patient financial responsibility (e.g. co-payment, co-insurance, deductible) at the time of service is something all medical practices should do. However, doing so isn't always possible, whether it's because the patient doesn't have the money required for the co-payment or because your office was understaffed at the time. if this happens regularly, it can cause you a lot of long term collection and medical billing issues.  Read more...

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Revenue Cycle Management Metrics

If you want to identify whether your revenue cycle management system is performing well, then you're going to need to track the data that is available through the system. However, there is a ton of different data that you could be measuring and monitoring. The following are a number of medical billing metrics in particular that you should be measuring to determine how your revenue cycle management system is doing and whether it could use improvement.  Read more... continue reading
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When to Hire a Medical Practice Consultant

<p style="text-align:center;"><img src="http://www.promd.us/img1.png" /></p> Sometimes, you may find yourself in a situation where you need assistance with your medical practice in terms of solving a particular business problem or figuring out a way to maximize your return on investments. However, you may not want to take on additional employees for these purposes, nor do you want to outsource any work due to the costs and lack of control involved in doing so. In such a case, you should consider hiring a medical practice consultant.  Read more... continue reading
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Claim Denials

One of the biggest challenges facing most medical practices is the claims process. Filling claims with insurance companies can be quite time consuming and difficult - do it wrong and the claim could be rejected. Claim denials have a big impact on the bottom line of the practice, after all. It's because of this that many practices are seeking to improve their denial management process.  Read more...

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