Do I Need a Medical Bookkeeper?

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Do I Need a Medical Bookkeeper?

Maintaining current records is a key factor in reducing expenses and boosting your bottom line. An efficient bookkeeper can increase your cash flow and reduce cost by leveraging vendor relationships.

This begs the question: is hiring a dedicated medical bookkeeper the right move for you?

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Credentialing and Contracting in Medical Billing: What it is and Why it Matters

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Credentialing and Contracting in Medical Billing: What it is and Why it Matters

Your practice sees it happen daily: would-be new patients call or stop by your practice, hoping to set an appointment, having been referred to you by a friend or a loved one.  They’ve heard you’re the best in town, and are ready to set that initial consultation. At the last moment, they discover your practice is not in network for their insurance. Yet another prospective patient is shown the door.  

What exactly does it mean to be ‘in network’?  What is credentialing in medical billing, anyway, and do physicians complete this process?  In this post, we’ll deep dive into the topic of credentialing to illuminate confusing areas and provide information vital to submitting your applications and negotiating your next partnership contract.

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How to Manage a Clinic Efficiently in 4 Painless Steps

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How to Manage a Clinic Efficiently in 4 Painless Steps

Medical clinics can be chaotic. Between nervous patients and disputes about copay, it's not difficult to see why running a medical clinic smoothly can be quite a challenge.  Yet, it doesn’t have to be. Below, we explain the four easy steps to managing your clinic efficiently:

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What is Overpayment in Medical Billing? Here's How to Recover

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What is Overpayment in Medical Billing? Here's How to Recover

When a provider receives payment over the amount payable for a service rendered, they have received an overpayment.

While overpayment happens in every practice, it creates problems when left unaddressed. Insurance companies typically issue the overpayment, but overpayment can sometimes come from the patient via excessive co-pay.

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5 Reasons Why Appointment Scheduling Is Essential In The Medical Office

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5 Reasons Why Appointment Scheduling Is Essential In The Medical Office

Each week, your office schedules hundreds of appointments. Scheduling duties like negotiating follow-ups, sending reminders, and creating new appointments are all pivotal to a successful clinical workflow. That said, they can also suck up a ton of your staff’s time, which is often at a premium.

Online scheduling software programs eliminate wasted time and increase medical office efficiency. Here are the top 5 reasons for considering an online scheduling software this year.

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How To Avoid Common Medical Billing And Coding Errors in 6 Steps

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How To Avoid Common Medical Billing And Coding Errors in 6 Steps

Operating a medical practice is more than just practicing medicine. Whether you’re a veteran physician with an established practice, or a novice practitioner branching out for the first time, the business side of your medical office can be overwhelming. You have two full time jobs…business owner and doctor.

You don’t have to do it alone. Medical practice management consulting helps independent practices achieve their goals without sacrificing patient care quality. They guide you through the business side of practicing medicine.

Here are 5 benefits you can expect from a practice management consultant.

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5 Reasons to Hire A Medical Practice Management Consultant

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5 Reasons to Hire A Medical Practice Management Consultant

Operating a medical practice is more than just practicing medicine. Whether you’re a veteran physician with an established practice, or a novice practitioner branching out for the first time, the business side of your medical office can be overwhelming. You have two full time jobs…business owner and doctor.

You don’t have to do it alone. Medical practice management consulting helps independent practices achieve their goals without sacrificing patient care quality. They guide you through the business side of practicing medicine.

Here are 5 benefits you can expect from a practice management consultant.

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Choosing Merchant Services for Your Medical Practice

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Choosing Merchant Services for Your Medical Practice

Payment processing is one of those things that should just work. You shouldn’t really need to spend much time worrying about it and no news is good news right? The problem is that the industry is largely predatory when it comes to contracting and rates, especially with medical offices. Worse still, support is quite frequently outsourced and/or has pretty low bar for the definition of support/services.

While many medical offices run like a business, they have drastically different needs for payment processing. The average business worries about protecting customer payment information. For a medical practice, however, a breach in security compromises patient medical information. Medical offices also have strong use cases for mobile payments, embedded statement payment options, online payment options and beyond.

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10 Common HR Issues at Medical Practices (And How to Solve Them)

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10 Common HR Issues at Medical Practices (And How to Solve Them)

Your practice’s most valuable asset is its people. They determine the type of practice you run, whether it’s friendly and efficient, or cold and unproductive.

Many smaller practices mismanage human resources. They don’t have a separate HR specialist or department, and the practice manager must negotiate HR issues and complaints.

Without proper handling, HR issues reduce office productivity and create hostile work environments. Below are the most common HR issues that plague medical practices - and how to fix them!

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How to Hire the Right Staff for Your Medical Practice

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How to Hire the Right Staff for Your Medical Practice

In a fast, demanding medical environment, an empty position can devastate productivity.

Hiring an ill-fitting staff member further damages productivity. Never mind the precious time training a person who can’t complete the job correctly, doesn’t fit culture, or is mis-aligned with expectations…the wrong hire creates even more work for the senior members, and you have to repeat the process as soon as you decide to move on and scrap the wasted resources.

Here are 8 steps to hire the right staff member for your practice (and save your productivity)!

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Accounting Services for Medical Practices - An Overview

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Accounting Services for Medical Practices - An Overview

Businesses need a solid accounting system and cash controls to succeed. While medical practices differ from traditional businesses in many ways, a practice with unbalanced books or without an eye on its books at all, will fail.

For many practice owners, accounting can be an enormous hassle. Generating financial reports and balancing books detracts time and money from medical services. Why should aging receivables and late payments prevent you from providing quality patient care?

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How to Be a Good Practice Manager in 8 Steps

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How to Be a Good Practice Manager in 8 Steps

A medical practice needs more than just doctors to function at a high level — it’s more than just a patient treatment facility…it’s a small business and a community, with all the associated complexities. It needs strategic vision, a business plan, a guiding hand, a day to day leader and a right hand to the physican. Without a good practice manager, a medical office risks reduced patient care quality, reduced revenue, reduced office culture, or even practice closure.

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Major Differences between ICD-9 and ICD-10 that affect Medical Billing

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Major Differences between ICD-9 and ICD-10 that affect Medical Billing

Far from just a routine coding update, the switch from ICD-9 to ICD-10 altered the very structure of coding procedure. While such a huge change may seem like a hassle, your practice can code more precisely and get paid easier with ICD-10. Here are the biggest differences between ICD-9 and ICD-10.

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8 Ways to Improve Medical Accounts Receivable Management & Cash Flow

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8 Ways to Improve Medical Accounts Receivable Management & Cash Flow

Does your practice’s cash flow suffer because of high accounts receivable? If so, you are not alone - many practices experience revenue delay for the same reason. Below, we explore some of the most common problems - and solutions - in managing accounts receivable.

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5 Tips for Improving Medical Office Efficiency

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5 Tips for Improving Medical Office Efficiency

Improving medical office efficiency improves patient satisfaction and increases your practice’s bottom line. This list includes the top five ways to reform patient flow and boost revenue.

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Auctus Summer Meeting 6/21-6/22

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Auctus Summer Meeting 6/21-6/22

We are so pleased to share a look into our first ever all company outing!

Not only is our group full of incredible and unique people; but seeing us all together in one place was one of the more proud moments of the company thus far. 

So, let’s begin!

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The Best Dermatology Billing Software Programs

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The Best Dermatology Billing Software Programs

With many medical billing softwares on the market, it is difficult to select the right one. There are numerous options to consider. Do you want a comprehensive package? Or just revenue management? Do you need iPad compatible software? Or just desktop? Lastly, do you want general software or one for your medical specialty?

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6 Benefits of Medical Billing Outsourcing

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6 Benefits of Medical Billing Outsourcing

Medical billing is a complicated affair. Claims must be filled out completely, correctly, and on-time. There are thousands of different claim codes for each medical sub-section, and hundreds of reasons for claim denial.

The process is time-consuming. With the burdens of running your own practice, billing can become overwhelming.

When it comes to getting help, you’ve got 3 options: hire an in-house biller, assign billing to your front office, or outsource your billing.

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Understanding and Communicating Your Network Status

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Understanding and Communicating Your Network Status

How do I know if I am in network with my patient’s insurance plan? Simple question with a not so simple answer…

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