Importance of Financial Analysis
Does your organization use financial benchmarks and evaluations for future planning? Do you have a clear indication on how your business is performing and where it could improve? If you answered no to either question then your organization could benefit from a financial analysis. Let’s discuss the importance of financial analysis. Importance of Financial Analysis […]
Improving Healthcare Profitability for Providers Part 5: Putting It All Together
Improving Healthcare Profitability for Providers Part 4: Improving Collections
I hope the past three posts have helped healthcare practices begin to think about all the important ways that they can improve profitability without working harder, seeing more patients or laying off staff. This post will focus on methods to improve collecting what you bill. I have seen many practices increase production as a solution […]
Improving Healthcare Profitability for Providers Part 3: Optimizing Coding
The first two blog posts on improving profitability were about reducing no shows and collection at point of service. Today’s post will be on the importance of corect coding. We will use the example of outpatient psychiatric services but the concept holds true for any situation. You as providers need to make sure the services […]
Improving Healthcare Profitability for Providers Part 2: Point Of Service Payments
Healthcare Insider Secrets for Healthcare Providers to Improve Profitability: Part One No Shows
This week our Healthcare Insider blog is going to post daily tips for providers to improve their bottom line rapidly. In an era where revenue is decreasing but costs are increasing, staying in business ( making a profit) is even more difficult. Let’s discuss healthcare insider secrets for healthcare providers to improve profitability. Payors are […]
Slumping Profit Margins Predicted for Health Plans Through 2011
It is estimated that between 2008 and 2009 top insurance carriers saw a decline of roughly 1.7 million members. More alarmingly, recent studies have shown that currently declining profit margins for some of the leading health insurers will not begin to rebound until after 2011.