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GroupOne Health Source Practice Management Blog

      

The GroupOne Health Source Blog

 Answers and Insights Every Healthcare Professional Needs.

 

5 Most Effective Ways to Increase New Patient Referrals

by Kaitlyn Houseman on March 2, 2016

Referrals offer a connection a little more solid than a new patient who finds you via Google search or in the Yellow Pages. When you get a word-of-mouth referral, your existing patient is acting as a "salesperson," and it costs you very little compared to the cost of advertising your practice. Increasing the number of referrals from patients can help fill your schedule and in turn grow your practice.
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Topics: Medical Business, Practice Management, Marketing

Telemedicine is Taking Off! Here's Why

by Kaitlyn Houseman on February 25, 2016

Healthcare is ever-changing. One advancement, telehealth, is one of the hottest trends in healthcare and technology right now. With the shortage of physicians, increase of chronic conditions, and the rising costs of healthcare, telehealth is becoming more necessary and useful than ever.

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Topics: Practice Management, Telehealth

5 Ancillary Services to Increase Your Practice Revenue

by Kathy Kuhn on February 21, 2016

Looking for new ways to grow your practice and increase revenue? It's not just a matter of drawing in more patients who need the medical services you provide. Many physicians have strategically determined ancillary services that can bring in more money from their existing client base in order to fight the neverending battle of declining reimbursement. 

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Topics: Medical Business, Practice Management

Talking HealthIT with Lee Farabaugh CIO at PointClear

by Kaitlyn Houseman on February 20, 2016

The healthcare industry is facing growing pains, especially where technology is concerned. We recently caught up with Lee Farabaugh, Chief Innovation Officer and EVP of Professional Services for PointClear Solutions to get her advice on what providers should be talking to their software vendors about.

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Topics: Practice Management

6 Red Flags That You Chose the Wrong Billing Company

by Adrienne Schrimpf on February 16, 2016

Choosing a billing company is a big step. The quality of your billing services can make a big difference in your practice revenues, for good or bad. Choosing a billing company that turns out to be wrong for your needs can be an expensive mistake that isn't just hard to recover from but also hard to recognize until it's too late.

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Topics: Revenue Cycle Management, Practice Management

Top 5 Challenges Your Practice will Face in 2016

by Ricki Ransom on February 2, 2016

As our list of the top 5 challenges for 2016 underlines, practices will need to navigate some tough obstacles in 2016. These include value based reimbursement, collecting co-pays and deductibles, and administrative burdens on physicians.

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Topics: Practice Management

How Creating Strategic Partnerships Can Benefit Your Practice

by Keith Lage on January 12, 2016

Do strategic partnerships have anything to do with revenue cycle management? Absolutely. But picking the right partner to assist with various aspects of your medical practice can be a daunting decision. Pick the right partner and you save a time and money. Pick the wrong partner and your practice's cash flow can take a serious hit.

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Topics: Practice Management

5 Ways to Find RCM Tools That Grow With Your Practice

by Keith Lage on January 11, 2016

Perhaps there was a time when you could argue that revenue cycle management tools were only worthwhile for large practices with big budgets. All that has changed, however. In fact, a small or new practice may benefit disproportionately from having excellent revenue cycle management tools.

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Topics: Revenue Cycle Management, Practice Management

Balancing Business with Patient Care in Private Practices

by Kaitlyn Houseman on January 8, 2016

Running a successful medical practice is more than taking care of patients. And while most doctors would prefer to just focus on medicine and patients, there are a number of other responsibilities that can come with being a physician at a private practice.

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Topics: Practice Management

5 Ways to Support Your Patients With Chronic Health Conditions

by Kaitlyn Houseman on January 6, 2016

Though they can happen at any age, single and multiple chronic health conditions are more common in older patients, and managing them effectively requires that the patient take active part in daily healthcare decisions. A collaborative approach may require more time up front, but long term it can decrease demands on your time by empowering the patient to take better control of his or her health.

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Topics: Practice Management

Should Your Practice Charge No Show Fees?

by Ricki Ransom on January 4, 2016

The estimated no-show rate for medical practices is around 5 to 7%. That may not sound bad, but if you consider each missed visit prevents your practice from collecting an average $25 co-payment and $90 reimbursement from a health plan, one or two no-shows per day adds up to tens of thousands of dollars in lost revenue every year.

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Topics: Revenue Cycle Management, Practice Management

10 Reasons a Physician Should Seek an MBA

by Keith Lage on December 29, 2015

More doctors are pursuing the Masters of Business Administration (MBA) degree on top of their medical qualifications. Should you? It can be a wise career move whether or not a doctor is interested in transitioning to the management side of healthcare. But do the pros outweight the cons?

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Topics: Medical Business, Practice Management

Minimizing Malpractice Risks During Flu Season

by Kaitlyn Houseman on December 27, 2015

The 2015-2016 flu season is here, and that means medical practices must be able to handle an influx of people who want to be vaccinated, as well as a possible surge in patient load should the disease spread significantly in your area. Obviously, you want to minimize malpractice risk year-round, but there are certain things you can do during flu season to help minimize risk then, even if you end up with a higher patient load.

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Topics: Practice Management

Improving Your Revenue Cycle Management in 2016

by Kaitlyn Houseman on December 22, 2015

A new year on the calendar offers something of the "look and feel" of a clean slate, but any medical practice manager will tell you that things aren't going to get simpler or easier in 2016. The entire revenue cycle management process is undergoing a period of rapid change due to the Affordable Care Act, the rise of value-based reimbursement, and the proliferation of high-deductible healthcare plans.
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Topics: Revenue Cycle Management, Practice Management

How Telemedicine is Transforming Healthcare

by Kaitlyn Houseman on December 15, 2015

 

Healthcare experts might have been pushing telemedicine for decades but only recently have we seen the rapid adoption of electronic health records push physicians to get on board with telemedicine. Telemedicine is transforming healthcare and is now becoming integrated into the ongoing operations of hospitals, specialty departments, private practices and consumer's home and workplaces.

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Topics: Practice Management, Telehealth

5 Surprising Ways to Fix Communication Breakdowns at Your Practice

by Kaitlyn Houseman on December 11, 2015

Medical practices often function at a fast pace, and in this type of environment, communication breakdowns will eventually happen. Maybe someone didn't hear a question, or wrote down a hasty note to do something and then forgot about it. When communication problems go unaddressed, problems can become entrenched and lead to even bigger problems down the road.
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Topics: Practice Management

How to Revamp Your Revenue Cycle Without Destroying Your Practice

by Ricki Ransom on December 8, 2015

Do you know how your revenue cycle is performing? If I asked you today to run some reports that measure the effectiveness of your revenue cycle, could you do it? A surprising number of doctors and practice managers have trouble answering those questions. Often, practices tick along as usual until a noticeable change in cash flow occurs, and then the staff scrambles to discover the source of the problem.
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Topics: Revenue Cycle Management, Practice Management

5 Surprising Ways Physicians Can Prevent Revenue Loss

by Nicole Laucks on December 3, 2015

Decreasing reimbursement and rising costs aren’t the only factors causing financial problems for medical practices. In most practices, inefficiency can cause significant amount of revenue loss. You might even be surprised at the subtle ways revenue could be leaking from your practice. 

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Topics: Revenue Cycle Management, Practice Management

"Always Be Recruiting" and Other Recruiting Tips Your Practice Needs

by Kaitlyn Houseman on December 2, 2015

Every industry on Earth has changed drastically in the 21st Century. Healthcare professionals, however, have been hit harder than most, with changing insurance policies, an uncertain economy, and the demands of the Information Age to contend with. People working in the medical industry are constantly coming and going, and savvy practices must learn how to recruit effectively to not only have the best and brightest in their field, but any doctors at all.

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Topics: Practice Management, Hospital Networks

Preventing Revenue Cycle Disruptions When Acquiring a Practice

by Kaitlyn Houseman on November 24, 2015


In recent years, hospital systems have been buying up physician practices, expanding their networks and preparing for managed health approaches to reimbursement. With meeting cost and outcome goals as the long term objective, hospitals are coping now with the inevitable shocks to the revenue cycle that result from these acquisitions.

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Topics: Revenue Cycle Management, Medical Business, Practice Management