Med Practice Made Perfect

Welcome to MedPractice Made Perfect, brought to you by Practicefirst Medical Management Solutions. In this episode, host Tom Maher will delve into a pressing issue affecting many medical practices: termination letters for RCM services from Optum.

Understanding the Situation

Optum recently acquired a significant portion of business from ChangeHealthcare. As part of the integration process, Optum has begun terminating contracts with pr...

Starting a medical practice is a process rife with potential landmines. If caught off guard, hopeful practice owners may find themselves dealing with major delays, incurring fines, or experiencing significant revenue cycle issues down the road. 

In this insightful podcast episode, we delve into some of the key intricacies of launching a successful medical practice while giving a broad overview of the process. Host Tom Mahe...

The online presence of healthcare practices presents distinct challenges that administrators must navigate, setting it apart from other industries. In this insightful episode, Tom’s guest Claire Carlo highlights the significance of establishing a strong foundation for effective healthcare marketing. Key elements, such as a mobile-optimized website and readily accessible transactional details like contact information and appointment...

While coding algorithms can significantly improve the accuracy and efficiency of medical coding, they are not a replacement for human expertise. In fact, working with coders is essential to optimizing the use of coding algorithms and maximizing profitability.

Coders play a critical role in ensuring that coding algorithms are used correctly and effectively. They are trained to identify nuances and complexities in medical da...

Key Performance Indicators (KPIs) are essential metrics used by successful medical practices to monitor their financial health and boost profitability. By establishing KPIs, practices can track important numbers such as revenue, expenses, and cash flow trends. KPIs help identify potential issues in the revenue cycle before they become major problems for the practice's finances.

KPIs should be tracked regularly, at lea...

Not everyone thinks of a medical practice as a business - but in fact, it is just that, a business - and people want to be treated the right way. That includes interactions with their doctor and any healthcare provider, but also the rest of the staff.

It is very important that your patients feel empathy from your team for their medical plight but also cared for as a customer. It is important to ensure a great experience b...

Medical practices have long been faced with adapting to the rapidly-changing insurance landscape, including major shifts in policy like the Medicare Prescription Drug Improvement and Modernization Act of 2003, and the Affordable Care Act in 2010. The latter introduced high deductible plans to the American public; a major departure from the payment arrangement that both practices and customers had been accustomed to.
 

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