Medical Financial Management

I was asked to co-present for a Medical Group Management Association (MGMA) certification course on the topic of Financial Management in Healthcare. The session used to be two days, apparently had been reduced to one. Explaining financial concepts is a pretty dry subject – condensing it into a time slot required for the webinar takes [...]

By |2020-04-28T12:42:09-05:00May 28th, 2018|Finance, Healthcare, Management, Medical|Comments Off on Medical Financial Management

Prior Authorizations, Denials, Death?

Are you aware how much time your practice spends obtaining prior authorizations for a patient’s care? Are you aware of the clinical knowledge one must know or have documentation for in order to obtain a prior authorization? I have a client that told me he had a nurse consistently sitting on hold with a particular [...]

By |2020-04-28T12:42:09-05:00August 13th, 2017|Finance, Healthcare, Medical|Comments Off on Prior Authorizations, Denials, Death?

Ill Effects of Health Care Debate

Premiums, co-pays, co-insurance, deductibles, out of pocket maximums, non-covered services…who really is in charge of your healthcare decisions? Is a provider in-network, out-of-network? Does a patient have control over which lab or radiology provider to choose? Does the patient know whether those providers are in network or out of network? Do your patients know the [...]

By |2017-06-20T18:10:48-05:00June 18th, 2017|Governments, Healthcare, Medical|Comments Off on Ill Effects of Health Care Debate

Caught in the Middle

April 1 marks the one year anniversary of Iowa Medicaid’s switch to managed care organizations (MCO)s. After being delayed twice (originally slated to start January 1, 2016 – delayed until March 1, 2016, and delayed a final time until April 1, 2016) the MCOs were still not completely staffed or properly trained for the switch-over [...]

By |2020-04-28T12:42:10-05:00March 30th, 2017|Business, Finance, Governments, Healthcare|Comments Off on Caught in the Middle

American Health Care Act 2017

The Republicans did it, they put out their “repeal” of the Affordable Care Act. Forty-nine days into the Trump administration the American Health Care Act was unveiled. I could launch into rhetoric about how flawed the bill is or how keeping key aspects of the ACA isn’t truly repealing it. Instead, I reflect on a [...]

By |2020-04-28T12:42:11-05:00March 11th, 2017|Finance, Healthcare, Small Business|Comments Off on American Health Care Act 2017

Auditing Adjustment Codes

What do adjustment codes do on the payers’ explanations of benefits? These codes tell the payee – the provider why all the money charged was not collected. Perhaps it is a contractual adjustment (difference between what was charged and what the contracted rate with the payer is). Perhaps there is patient liability. There might be [...]

By |2020-04-28T12:42:11-05:00February 26th, 2017|Business, Finance, Healthcare|Comments Off on Auditing Adjustment Codes

Fair Pay – in Medicine

What is the first thing that comes to mind when you think about fair pay? Minimum wage? The pay gap between men and women? What about a profession that is reimbursed derived from political processes trying to keep costs under control? A profession that requires at least eight years before using your skills? Education costs soaring [...]

By |2020-04-28T12:42:11-05:00February 12th, 2017|Business, Finance, Governments, Healthcare|Comments Off on Fair Pay – in Medicine

Personal Side of Broken Health Care

One thing all citizens of our divided country can agree on is the state of our healthcare system is broken. As a patient and a "consumer" of health care services, my out of pocket expense has increased consistently over the last decade at a pace far exceeding the cost of living index. I am making [...]

By |2020-04-28T12:42:11-05:00January 27th, 2017|Healthcare, Small Business|Comments Off on Personal Side of Broken Health Care

Are You Eligible?

Calls come in daily for new appointments. Some calls are existing patients and some are new patients. There may be patients waiting to check in. How fast can you get the patient an appointment and get them off the phone? Is this the correct way to measure customer service? Patients might become impatient with wait [...]

By |2017-01-07T16:17:39-06:00January 7th, 2017|Healthcare, Management, Small Business|Comments Off on Are You Eligible?

Medical Payer Mix Mess

How many of us have been told by our financial planners we need to diversify our portfolios? As a business you need to do the same thing, except looking at who you are billing. Medical practices already have one of the most complex payment systems of any industry (except maybe the US Treasury for tax [...]

By |2020-04-28T12:42:11-05:00October 15th, 2016|Finance, Healthcare, Small Business|Comments Off on Medical Payer Mix Mess