Even though school’s out for summer, maybe it’s the right time for physicians to consider continuing their education. We know what you’re thinking. Doctors already go through enough schooling. But in today’s uncertain health care environment, a physician MBA can be a worthwhile investment.
When we first investigated the potential MBA advantages for doctors in 2013, we asked MD/MBA student Abrahan Nunes what he hoped to gain. “Since business training is about learning to measure and enhance value delivery, the business-trained physician can apply those principles to his or her practice and the broader profession.”
Now that he’s completed his degree, what’s the advice from Abraham J. Nunes, MD, MBA?
If you’re like most healthcare providers, you’re already super busy. Time remains a precious commodity as you seek to treat patients efficiently without compromising outcomes or quality of care.
So how do you effectively combat time constraints coming from increased documentation, ever-changing regulation requirements and the estimated 17 million new patients the Affordable Care Act added to the U.S. healthcare system?
No one is saying it’s easy, but consider starting with these five time management tips for healthcare providers:
It seems like you need to choose so many things these days – a user-friendly EHR, an efficient practice management system, and even what computers you want your practice staff to use.
Most of us associate data backup with a hard drive, or maybe even some flash external storage. But remember, you’re dealing with sensitive personal health information, and you want to make sure you don’t lose your data in the event of an emergency.
Getting stood up is the worst. No one enjoys arriving at the restaurant just to receive a call from the date who can’t make it at the last minute. Essentially, patient no-shows are the physician’s equivalent to getting stood up. Except, instead of simply wasting time, no-shows cost your practice money.
Some estimate that patient no-shows cost individual physicians as much as $150,000 per year. Others put the total no-show cost for the U.S. healthcare system at more than $150 billion. Figures like this show why it’s essential to do all you can to reduce no-shows.
Keep in mind certain things you don’t want to do when trying to decrease patient no-shows. Going about it the wrong way can waste time or, even worse, damage relationships with your patients.
When outstanding patient balances grow out of control, you may feel there’s no option but to place them in the hands of a collection agency. Putting debt professionals in charge is the best way to get your payment… right?
Not always. Physicians and practice managers often resort too quickly to the services of a collection agency, and later feel the choice was a mistake. Learn why, and how, to avoid needing outside collection services – and bolster your cash flow in the process.
Checking patient insurance eligibility and benefits remains essential to medical practice income and productivity.
You can perform eligibility checks several different ways, depending on the processes your office and insurance carrier use. But there are also a few important questions you should ask.