There are many services that are available to lower your overhead immediately. It is always great to find different avenues to help cut costs but, at the same time, stay compliant and efficient. If you would like to save up to 20 administrative hours a week, there is an automated patient confirmation system that is available. Not only does this system save you office time that can be spent on doing something else such as marketing, but it decreases the amount of patient cancellations. Call our office; we’ll be happy to send you details.
When was the last time you evaluated your managed care contracts? There are companies out there that will assess your current contract rates and will renegotiate those rates for you so you get a higher reimbursement.
These slow months are also a great time to collect old money. It is worth looking into asset recovery programs. There are thousands out there, so you want to make sure that you ask the right questions with regard to their guidelines on what they will accept and the proper steps to follow. We help our clients to choose from the best ones and, most importantly, we know what the tough questions are to ask.
Something that can save you hundreds dollars on each month is your merchant service, better known as credit card processing. You could be spending money on renting each terminal and spending up to 4% of your transaction each time you swipe a card to process. Not sure what you’re spending? Why not ask for a free merchant account rate review? There are vendors out there that are more flexible with cost. For example, you can be charged daily, monthly, or annually for the credit card processing, and use the terminals for free.
Lisa Goldberg is the executive director of Physicians Choice Concierge (PCC), a company specializing in revenue enhancement. If you have a question you’d like Lisa to answer in an upcoming issue, email [email protected] or call1-888-369-2224 for a personal consultation.