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Archived Issues
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Human Resource, Mgd Care, Advice
July 8, 2003
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2003-4 Medicare, MD Comp, Reimb, Front Desk
May 22, 2003
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2003-3 Fraud, Stark, Recall
April 26, 2003
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2003-2 MD Comp, HIPAA, EM Coding
April 12, 2003
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2003-1 HIPAA, Pediatric Surgical
March 25, 2003
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Staring at Declining Revenues
The Centers for Medicare and Medicaid Services has issued a proposed rule that would cut payments under the Medicare physician fee schedule by an average 4.2% for calendar year (CY) 2004. With this proposed cut, you can expect managed care plans who tie their reimbursement system on Medicare rates to follow suit with a reduction in their rates. What this means is that most medical practices can expect some sort of a decline in revenues next year. So instead of waiting until next year to face this potential negative financial impact, NOW is time to start planning and strategizing on how to address it head on. In other words, now is the time to ask how is a practice going to increase revenues in order to offset the potential declines in service reimbursement. Here are some ideas.
[FULL STORY]
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Negotiating Fee for Service Contracts
Medical practices operating in discounted fee for service managed care markets must address all of the financial and nonfinancial issues involved in a relationship with a managed care plan. These issues are spelled out in the provider contract between the managed care plan and its participating physicians. But what if the medical practice does not like the financial and nonfinancial terms of the contract? Can the practice change them? What if the managed care plan changes the terms of the contract after it is signed? Can the practice change them?
[FULL STORY]
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Using Email to Market Your Practice
Are you communicating with your referral sources on a regular basis?
With your patients?
The reality is that marketing a medical practice has become an increasingly costly and demanding task. Often there are just not enough resources to professionally design and distribute a high-quality print marketing piece to your patients and/or referral sources on a consistent basis.
Click here to learn why a professional email newsletter may be your best solution.
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Try an Embezzlement Test
The Denver District Attorney’s Office provides an “employee embezzlement vulnerability test” to help determine whether a company is at risk for significant loss. Many of these tests apply to medical practices. To access the test, and the DA’s tips in protecting a business, go to
http://www.denverda.org/ecu__employee_embezzlement.htm .
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