Ask the Advisors Q&A
with Lisa Goldberg and Larry Goodman, D.C.
Q: How can I cut my overhead without cutting service and efficiency?
A: There are a lot of programs out there that will actually increase efficiency and cut overhead. For example, one of the things that we recommend is an automated phone service that will actually confirm appointments for you. This alone will cut your administrative staff by 20 hours a week. This is also the time to look around your office and track your expenses so that you can try to save some money. Something that might seem very simple, like changing a malpractice carrier, can actually save you up to 25% to 30% alone.
Q: I am frustrated in my office because I am having a hard time with my collections and my colleagues have suggested that I search for a billing company. What are some of the things to look for in a billing company; they all seem so much alike?
A: First of all, the one question that everyone asks a billing company is what the percentage that they keep is. The percentage is important; but do not get fooled by a low percentage. Low percentage could mean low service. You want to know what the percentage is and, if they collect, you have to make sure that they not only bill but they also collect. When you interview billing companies, find out what their appeals process is and if you are able to access that information at any time. Also, ask if they give you anything free. Some billing companies will throw in an EMR system at no cost.
Dr. Larry Goodman is a chiropractor who has been doing consulting and practice management for 15 years.
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 and Larry to answer in an upcoming issue, email [email protected] or call 1-888-369-2224.