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101 Ideas for Increasing Revenue and Decreasing Expenses in Your Medical Practice

by Mary Pat Whaley | Sep 5, 2009 | Day-to-Day Operations, Electronic Medical Records, Finance, Medicare & Reimbursement

BUILD ON WHAT YOU’RE CURRENTLY DOING: 1.  Add physician hours – add evening or weekend hours; start your office hours earlier and end hours later. 2.  Reduce physician time off – decrease vacation or change weekly days off to 1/2 days off. 3.  Set a...

Accountability: Nine Ways to Protect the Physician and the Manager

by Mary Pat Whaley | Sep 1, 2009 | Finance, Physician Relations

Recent news stories about manager embezzlement give us all a black eye.  What can managers do to limit their liability, and how can physicians protect the practice without managing the day-to-day operations themselves? Here are nine suggestions: Perform a thorough...

Attention Medical Practice Staff: Medicare Changes the Rules for Credentialing and Retro-Billing

by Mary Pat Whaley | Apr 23, 2009 | Finance, Headlines, Medicare & Reimbursement

A typical standard operating procedure in many practices when adding a new physician is to phase in his/her schedule  as s/he becomes credentialed by each payer.  Traditionally, new physicians have been able to see Medicare patients immediately due to the Medicare...

Monday Special:17 Financial Terms Every Medical Practice Manager Should Know

by Mary Pat Whaley | Jan 26, 2009 | Collections, Billing & Coding, Day-to-Day Operations, Finance

I got the idea for this post from an article titled “18 Financial Terms Every Leader Should Know,” by Dan McCarthy at Great Leadership.  I thought it was a great post and created one of my own, borrowing a few good ones from Dan and adding examples for...

Standard Operating Procedure: How To Make A Bank Deposit

by Mary Pat Whaley | Nov 13, 2008 | Day-to-Day Operations, Finance

I am writing this post in response to seeing a lot of questions recently about making deposits.  (If you are looking for information about making personal bank deposits, go to the top of the page and click on the Lexicon and look for “Bank Deposits.”) ...
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