http://youtu.be/BbB-PqE-6LI In an amazing feat of timely discussion, Chip cover the topic of compensation models in pediatric practices. It's not just about the pay, it's about the management duties, performance measures, and dissatisfaction that many practices feel with their present methods of paying themselves. We reference many real-life examples and data from a survey of 100s of pediatricians. Chip will be covering this topic at … [Read more...]
What Does a Medical Practice In Kenya Have in Common With a Medical Practice in the US?
May 8, 2013 By Leave a Comment
At NCE last year, I got an opportunity to meet Dr. Sidney Nesbitt. Dr. Nesbitt a pediatrician in Nairobi, Kenya and is very interested in practice management things like work flow improvements, hiring the right staff and working on making his clinic a better place for both him, his staff and his patients. I recently heard from Dr. Nesbitt. He shared with me that a group of MIT grad students conducted an assessment of his office in Nairobi in … [Read more...]
Three Questions To Help Your Medical Practice Get Back On Track
April 24, 2013 By Leave a Comment
What are my practice goals? How do I measure success towards reaching these goals? How am I going to communicate these goals and progress to my staff? Related articles Do You Want to Understand the Revenue Cycle of a Medical Practice? Start Here. (managemypractice.com) … [Read more...]
#8 Key Metrics We Should Use to Gauge the Financial Health of Our Medical Practice, Part II [Practice Management VideoCast]
April 17, 2013 By 1 Comment
Chip and I continue our discussion on key reports we ought to be looking at when assessing the financial health of our practices. In this AwesomeCast, Chip and I talk about E/M distribution, specifically the 9921x and how looking at these CPT codes and comparing with each other can provide a lot of insight into the clinic's billing practices, among other things. We also talk about Sick to Wellness ratio. Chip walks us through his process on … [Read more...]
How to Prepare For ICD-10 The Right Way
April 10, 2013 By 2 Comments
If you've done any reading about ICD-10, you know that this transition will be a monumental task. Fundamentally speaking, ICD-10 is a paradigm shift. It is designed to completely transform medical documentation. And since documentation is a lot of what doctors do, inevitably these changes will impact our day-to-day practice. In a recent AMA publication, the authors concluded that the two biggest challenges with implementing ICD-10 will be … [Read more...]
How Many Billers Should A Medical Practice Employ?
April 3, 2013 By 8 Comments
We've talked about in-house billing vs outside billing before. I even teamed up with my friend Chip Hart and devoted a full podcast to the topic. But we've never talked about billing staff ratios. How many billing staff should we have? How do we know if we are understaffed or overstaff? Should we calculate the ratio based on charges and collections or should we base it on physician count? Dr. Suzanne Berman, one of the many outstanding … [Read more...]
#7 Key Metrics We Should Use to Gauge the Financial Health of Our Medical Practice [Practice Management VideoCast]
March 27, 2013 By 2 Comments
In his 20 plus years in practice management, Chip has advised thousands of medical practices. So it occurred to me, why don't I ask Chip how he assesses a practice? In other words, when he is preparing to counsel a practice, what reports, data sets or financial instruments he uses to identify whether or not the practice is a financially healthy practice. You don't want to miss this episode because Chip share with us some of the key … [Read more...]
Easy, Easy Way to Implement A Survey Tool in Your Medical Practice
March 20, 2013 By 1 Comment
I've been thinking about implementing a more streamlined survey tool. But this is one of those things that you know is important, but not necessarily a priority. That is, nothing is going to fall apart if you don't send a survey to a patient. Today, this comment (see below) came across on my screen from the SOAPM listserve that caught my eye. I emailed Dr. Adams and asked him if I could post this on PediatricInc. He agreed. Dr. Adams … [Read more...]
#6 Learning Steps to Budget for Your Medical Practice [Practice Management VideoCast]
March 13, 2013 By 3 Comments
In this episode, Chip and I have our first guest. Paul Vanchiere was kind enough to sit down with us to talk about budgeting. Why budgeting? Well, I suspect that this is an area where many practice don't excel. If you are part of a larger group, the likelihood you have a sound budgeting process that is sophisticated. But for those in smaller offices, not so much. Paul is a great guest because he has been worked in many different … [Read more...]
I'm a practice administrator at a Pediatric office located in the western suburbs of Chicago. I write mostly about running a small business that happens to be a medical practice.
