11 Straightforward And Practical Tips To Improve Your Practice ’s Bottom Line

You do not have to be a marine captain to know that there are countless potential dangers navigating waters. With a little imagination you know there are many risks. Some hidden, like currents, while others are painfully apparent (i.e. howling winds, waves and torrential storms).   We know there isn’t anything the captain can do to eliminate weather conditions or enforce her will on ocean currents. However, we can all agree the captain has control over the vessel. We can also agree that the captain has the responsibility to equip the ship and its crew member to its maximum potential if they have any intention of overcoming environmental threats. Running a “profitable” practice is indeed becoming more of a challenge. For many, it is uncharted territory. And while there are many extrinsic reasons – like decreasing insurance payments, high deductible plans, and the increased cost of providing care – that are contributing towards the “remaining profitable” challenge, the truth is, there is little – if anything – we can do to eliminate those threats. It is our responsibility as captains of our ships, however, to equip our practices and our staff members with the necessary tools and information if we want to have any chance of overcoming these real threats. Below are 11 STRAIGHTFORWARD and practical tips you can implement immediately to help you navigate these rough waters. Review fee schedules regularly to ensure your fe...
Source: Pediatric Inc - Category: Pediatrics Authors: Tags: Cost Reports Revenue Business Health Health Care Healthcare Insurance companies Management navigation payer Pediatrics Practice Managment Reporting risk The Business of Medicine Source Type: blogs