Five Reasons To Do A Medical Billing Assessment

May 31, 2020

Medical practices are only as successful as their billing department. If you have a thriving practice but want to review or improve certain aspects of your business, a medical billing assessment can be a big help.

 

Running a medical practice involves keeping a tight ship, for the sake of your patients, your reputation, as well as your financial health and stability. Here are five reasons to do a medical billing assessment:

1. You want to increase your revenue

Maybe you have been trying to grow your business but you haven’t been able to do so. A medical billing assessment can provide clues as to what’s working and what needs to change in order for your business to expand.

2. You want to audit your policies and procedures

Maybe your billing is not efficient in the areas of outgoing billing or in receiving payables. Of course, you also want to make sure all privacy regulations are being observed.

3. You want to make sure technology you are using is up to date

Advances in computer and mobile technology as well as software can make billing more efficient. But things change fast ­– what was cutting edge a few years ago might already be outdated. From security to speed, you want to make sure that your tech is up to the task. It’s a fast-moving world so it’s helpful to get an expert assessment about how up-to-date your tech really is.

4. You want to review workflow

A medical business is only as efficient as the employees that run it, and your employees can only be as efficient as the workflow they follow. A detailed review of your billing process can uncover redundancies or inefficient processes that cost you time, and money.

5. You want to get recommendations for improvement


Specialized comprehensive assessment

ProMD’s specialized assessment team will perform an operational audit and practice improvement evaluation to determine what parts of your operation are working effectively and where changes can be applied to lead to increased efficiencies.

When we conduct a medical practice assessment, we will cover every aspect of your practice from billing and collections to record keeping, staffing, contractors, and marketing efforts. Each segment of your business is scrutinized with practice effectiveness and cost efficiency in mind.

At ProMD, we understand how a smooth-running operation allows physicians to focus their time and energy on patient care. We work closely with a practice’s management and staff to ensure increased efficiency while reducing waste. We have developed a “Full Circle” approach to medical practice management.

Having a staff and business systems in place that you can count on to effectively handle day-to-day business operations allows you to focus on what is most important: providing quality patient care. At ProMD, we find success in making your business thrive, and setting the table for years to come.

If you have a medical practice, contact us at ProMD Practice Management to give your business an objective analysis. We have experienced medical practice management experts who can come and correct your practice’s errors so you can have a thriving practice again.

You can call us at 888-622-7498 or request a consultation online now. Let us help you get your practice to be working beautifully as it should be!

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