Physician Practice Management

Practice Management

"If I wanted to do business, I would have gone to business school ... like my rich brother."

"There are three stages of physician evolution: Dr New Doctor - eager and excited to get started; Dr Why Am I Here - disillusioned by where the business of medicine has gone; and Dr How Long Do I Have to Be Here - has the hours and minutes calculated until retirement." .....Maria Todd

Physician Salaries 2009 Edition

The 2009 AMGA Medical Group Compensation and Financial Survey is a nationally recognized compensation survey designed to assist various management levels in evaluating and comparing current physician compensation an productivity levels, trends, and relationships between compensation and productivity.

Get Paid for What You Do - Coding for Extended and Complicated Procedures

Several years ago, I had an anterior cruciate ligament (ACL) reconstruction by allograft. My surgeon said the case took 5 hours because of my weight at the time. The guides to drill the pilot holes did not work. When he billed for the case, his reimbursement was only $1500, not because of anything other than a biller (from a “professional” billing service, mind you) who billed the case as a standard procedure without submitting for extended service or complications.

When I found out what had happened, I volunteered to write an appeal letter for him, which in any other situation would have increased my copay, but it didn’t because I was already at 100% benefit (it had been a bad year, medically). One skillfully written letter and 15 minutes drafting time resulted in a $3500 additional payment. It also resulted in additional payment to the assistant surgeon of about $350. Since the assistant surgeon was also from the same practice, the net positive revenue to the practice was an additional $3850. Now I don’t know about you, but I will write letters like that all day long for that kind of result. Better yet, why not code it correctly the first time and avoid the margin erosion from having to submit the appeal(s) in the first place?

It's a FACTA Life...Identify Theft Happens

Identity Theft Happens
Back in October, my debit card went to China without me and whooped it up at what VISA called a "Drinking and Dancing Establishment". Wells Fargo decided that while my card was being used to complete a "card present" transaction, it was simultaneously being used at the local organic grocer. They figured I was at the grocery store because of my spending profile, and that the other lifestyle was likely not me. How did they get through not one, but three transactions totalling over $2700 with a "card present" transaction? Not sure, but these days, one can take the number off a magnetic strip and simply make a new card. For this and other reasons, FACTA is now a necessity.

The FOUR Realities of Practice Management for Solo Physicians

Physicians are smart people! They can do most anything they set their mind to. But should they?

Why do Patients Change Doctors?

Contrary to popular belief, the majority of patients don't change doctors because their insurance plan required them to choose someone else.

When the Doctor’s Away…

For all the years and all of the medical practices that I have ever visited, I have encountered only one practice that had a manual for employees that outlined the doctor’s instructions for emergency procedures. No, I am not referring to fire evacuation plans, HIPAA disaster recovery and business continuity plans,