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How to get the most out of your relationships with payors
Abstract: As the intermediaries between physicians and their patients, payors are the primary determinants of the flow of patients, and therefore revenues, to medical practices. Whether the payor is an HMO, health plan, insurance company, IPA or PPO, it’s good to understand the payor’s motives and actively manage your practice’s relationship with it.
Here are some factors to consider when evaluating your practice’s relationships with its payors.
Do it right the first time
Accuracy matters when coding your claims
Abstract: Most physicians realize that correct coding is key to optimizing practice revenues. And yet many practices are still experiencing long delays and outright rejections of their claims due to improper coding and inaccurate patient data. Savvy practices have implemented systems that make it as easy as possible for physicians to enter the information for each claim.
Making a case for the concierge practice model
Abstract: Many physicians have become intrigued by the concept of the “concierge” medical practice. Frustrated because they’re spending less time with patients and more time on paperwork, they view premium-service medicine as an opportunity to offer enhanced clinical services, improve coordination with hospitals and specialists, make house calls as needed, communicate more effectively with patients, and practice genuine preventive medicine.
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