The medical industry has never been more competitive than it is today. Our modern health care system is complex, and learning new techniques for growing your practice can feel daunting. CodeMax has a proven track record of successfully assisting clients with medical practice management. Our consulting services can help you navigate medical billing and create a smooth workflow that will increase your bottom line. For more information about how Codemax can help you grow your practice, reach out to us at 866.471.3267 to speak with a trained representative today.
Tips for Growing Your Practice
There are many ways to go about growing your practice. Effective medical practice management and training are key components to a successfully run operation. We know that you want to focus your energy on best serving your patients. This is why delegating and outsourcing billing services can let you focus on providing the best service possible.
A few areas you may want to consider strengthening include:
- Patient flow
- Avoid scheduling gaps
- Stay on schedule
- Try to maintain average visits per hour
- Automate appointment confirmation
- Establish budgeting goals and assess them periodically
- Collect co-payments
- Co-payments can be significant income if you obtain them at the visit
- Billing for co-payments later is far less efficient
- Avoid sending out invoices for outstanding bills under $10
- Establish an incentives program for employees
- Lessen or consider eliminating overtime
- Good hiring procedures result in employee retention
- Carefully evaluate the benefits of new services and equipment
- Be sure to carefully consider cost-benefit analysis
- Take the time to create an interactive website that is both aesthetically appealing and user-friendly
It’s essential to remain flexible as our fast-paced world continues to evolve. New medical technologies appear on the market, and patients want to know they are receiving top-of-the-line care using the best available resources.
The Value of Developing a Positive Relationship with Clients
Developing a strong relationship with your patients as well as the surrounding community will help you create a bond and develop a positive image.
A bad review or two online can cause a host of problems. Working hard to ensure patients leave your office feeling positive about their experience is essential. If a disgruntled patient leaves your office, gets online, and starts spreading negative reviews, this can create a reputation problem. It’s hard to know the opportunity cost of patients who decided to take their business elsewhere because they read a negative review online.
Putting in extra effort to create patients who will be eager to recommend your practice can have a tremendously positive effect. Mastering how to create a patient experience that results in the desire to spread positive reviews can offset the potential negative reviews from a patient who may be especially challenging to please.
How CodeMax Can Help You Grow Your Practice
We work hard to make sure you’re receiving the benefits for the work you provide. By making CodeMaxMB your outsourced medical billing department, you no longer need to maintain an internal department.
Our system has been shown to increase pre-authorized treatment days by nearly 50%. We have been able to increase revenues by revamping billing systems. Our team can help highlight new potential billing opportunities. Our past clients have seen their revenues grow by nearly 30%.
At CodeMax, we specialize in providing help to clients who are having difficulty with:
- Denied claims
- Denied treatment authorizations
- Slow payments
- Slow verifications
- High billing and collection costs
Our aim is to help you increase your bottom line. We’ve been effective at doing this for our past clients by:
- Increasing the amount of treatment for patients (up to 50% more)
- Helping collect more revenue (up to 30% more)
- Expediting the process of patient verification
Contact Us Today to Learn More about our Consulting Services
At CodeMax, we’re committed to helping you grow your practice in order to remain competitive with other providers. Our team of highly trained professionals can help make sure you do not miss out on collecting available income. Reach out today to learn how we can make growing your practice feel more manageable. Contact us at 866.471.3267 to speak with one of our highly trained representatives who can provide you with more information about our wide range of services.