Part 9 of 12 – Practice Survival 101 (or maybe 501!): Optimize Provider Compensation – Here is How

Setting a target for provider pay per wRVU will require balancing the need to be competitive in attracting and retaining providers while maintaining a strong…

Past, Present, and Future of Teams Working Remotely

Two friends are making a difference with their inspiration and innovation, thought I would share.

First, Brian Jones recently posted a short one and a half minute inspiring video that puts what “Great Teams” do when facing adversity and uncertainty. Though I can’t explain exactly how it made me feel other than to say, it reminded me of our innate human ability to …

Part 8 of 12 – Pay for Performance Tools to Optimize Staff Compensation – Here is How

One reason for excessive staff pay rates may be a staffing mix that is heavily weighted toward higher paying positions. For example, you may have…

Tips to Protect and Maintain Your Practice During this Pandemic “Economic Rainy Day!”

The current economic climate has been an eye-opening financial experience for every practitioner in America! Like Mr. Wonderful always says on Shark Tank, it’s all about “cashflow!” Financial disaster planning and recovery at this scale, as part of business development and continuity planning, was not…

Part 7 of 12 – Deploy these lean staffing tools to improve service and reduce costs – Here is How

Apart from provider compensation, workforce staffing is typically the largest single contributor to expenses in the physician enterprise. Accordingly, prudent management requires continuous vigilance over this resource. Two areas of resource management are required, staffing levels and…

Part 6 of 12 – Multiply Revenue by Being a Leader in Value-Based Care – Here is How

CMS has recognized the need to focus on preventing periods of acute illness as well as promoting health and wellness. As a result, they have…

Part 5 of 12 – 4 Problems that lead to Low Patient Volume and Your Physician Income – Here is How to Fix it

The problem can be attributed to several factors, including limited …

Part 4 of 12 – Stop Under-Coding and Over-Coding – Here is How

If your practice is below benchmark on this ratio there are two possible causes. One cause is…

Part 3 of 12 – Billing Transparency -Optimizing both Patient Collections & Satisfaction – Here is How

There are two groups of patients covered within this opportunity. The first are patients with…

Part 2 of 12 – Maximize your Payer Collection Rate – Here is How

12 Part Series: MedCV Practice Financial Management – Insights & Tips You Need to Know About to Quickly Maximize Your Income Tip 2 of 12 – Net Insurance Collection Rate Insurance Revenue Cycle Management:a. Assessment: Flawless revenue cycle management is essential for financial sustainability. Success in revenue cycle management is dependent on the effective executionContinue reading “Part 2 of 12 – Maximize your Payer Collection Rate – Here is How”