Is Your Pediatric Practice Making a Profit? 7 KPIs to Maximize Practice Revenue By Ken Dominy We believe that independent pediatric groups usually provide the most cost-effective and highest quality care to their patients. Obtaining fair and consistent payment has become more difficult over the years due to a number of factors. This includes payer…
DetailsReports by experts in pediatric practice management show that most small businesses (less than 8 providers) should outsource their medical billing operation to a qualified Pediatric Medical Billing Company. Some founders and partners of independent pediatric practices want the medical billers on site due to wanting to oversee the billing process. Overseeing a pediatric medical…
DetailsMany industries, companies, and systems have migrated to 21st century technology. Some industries obtain rapid adoption of technology such as the cell phone industry. In 2007, the iPhone was a new concept and most cell phone users were on flip phones or Blackberries. Although very few cell phone users are using 20th century cell-phone technology,…
DetailsEvery pediatric practice has a limited amount of time to provide training for the staff related to managing the revenue cycle. Some areas to focus training for front desk team members and Medical Assistants/Nurses of a pediatric practice include: Front Desk Team Members: The staff that work the front desk team are an…
DetailsEach pediatric practice should maintain financial policies and billing processes. This should contain a number of different areas including: Financial Policy, Financial Assistance Policy, Payment Plan and Payment Plan Agreement, Final Collection Notice and Approach to Patient Collections, Front Desk responsibilities, and Patient Registration process. Let’s look at each of these areas a little closer.…
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