Medical practice accounting: Improving cash flow


Collection problems are very serious to the financial health of your medical practice. You may find costs and overhead going up while cash flow goes down. To make matters worse, your office is probably spending more time than ever before contending with third party regulations and rejected claims. Through it all, you’re trying to improve your medical practice cash flow.

Just as doctors advise patients to take preventative steps to protect their health, doctors also must be proactive to guard the fiscal well-being of your practice.

Just as you advise patients to take preventative steps to protect their health, you must be proactive to guard the fiscal well-being of your practice.

Based on our decades of experience working with medical professionals and providing medical practice accounting, we can help pinpoint weaknesses and spot opportunities that can improve collections and cash flow. A few examples of the services we provide:

  • An assessment of your billing and collection process. Is it timely, efficient and accurate?
  • An analysis of your fee schedule. Are you charging enough?
  • An evaluation of your reimbursement record. Are there steps you can take to improve your reimbursement rate and speed up payments from the slowest patients and payers?
  • An examination of coding procedures and claim denials. Can you increase the number of “clean claims?”

Need help with your practice’s financial operations or with any medical practice accounting issue? Just leave us your contact information below and we will get back to you promptly to discuss your situation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FURTHER READING:

Physicians: Get a handle on your complicated financials