As a plastic surgeon, it’s likely that you got into this field because you like to help people. But, realistically, you can’t help every person that walks through your doors and still keep the lights on. To run a successful practice, you have to keep an eye on not only your moral mission, but the […]
So you’re a plastic surgeon or dermatologist, and you’re ready to take the next big step in your career. You’ve got some experience under your belt and you’re pretty good at what you do, so the next logical step is starting your own practice. (I mean, who doesn’t want to be their own boss?) You’ve […]
Search engines handle approximately 2.45 million searches for health-related topics, and over 100,000 searches for “plastic surgery” every month. Just think about what the right search engine optimization (SEO) strategy can do for your plastic surgery practice. SEO is using a set of practices to improve the positioning and appearance of your web pages. It […]
Not sure what medical bookkeeping is? Don’t sweat it, just reconcile the books against the bank account and 90% of docs won’t know the difference. Reports get generated. Bills get paid, Taxes get filed. People go home happy. ? That’s good enough, right? Medical bookkeeping isn’t just bookkeeping for the medical industry. It isn’t just […]
As enticing as sending out “Bruno with the Bat” may sound…there’s a bit more thought to put into the uncollected patient balances you have for more reasons than one. So should you use a traditional/true collections agency? IMHO…you need one…but you shouldn’t be using them if you can avoid it. I have math to back […]
Don’t just outsource medical billing… Outsource is a dirty word! It sounds like you’re faxing your patient information to some foreign company with zero oversight or control and who cares. Find a partner. Find a company / a firm /a team who you trust to be a true custodian of your dollars. Everyone says they’re […]
Starting a medical practice is a demanding process that can come with a high price tag. To determine whether launching a medical practice is right for you, consider the following cost breakdown.
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.
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?
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.