How to help your practice keep up with the changes

Article Abstract:

Physicians and their staff resist change for many reasons. For example, a physician may resist admitting that a colleague is not partnership material because of the problems involved in recruiting a replacement. Methods for implementing change include manipulating, coercing, co-opting or negotiating with staff. Generally, the more forceful methods can be used when resistance is low and the physician's power is greater than the resistors. More subtle methods must be used when resistance is great or if others have substantial control over the success of the change.

Management

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How to speed up collections in your practice

Article Abstract:

Speed is the most important factor when collecting from patients and insurance companies. A patient who is delinquent on one account is likely to be delinquent on several. Because the accounts that most recently became delinquent are the most likely to receive payment, it is important that physicians notice delinquencies and take action quickly. It is important to file as soon as possible when billing insurance agencies so that a lost claim or other problem can be identified before the claim-filing period ends.

Methods, Column, Accounting and auditing, Collection (Accounting)

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How to assess prospects for expanding your practice

Article Abstract:

A physician who wishes to expand his practice should use a break-even analysis to calculate the probably financial results of expansion. The parameters of a break-even analysis include expected revenue, variable costs, contribution margin and fixed costs. A planned downsizing should be evaluated in the same manner. Finally, the physician must consider whether an alternative investment may bring a greater return.

Planning, Finance

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