ECFS : Solutions Your Practice Can Depend On.

Five ways to capture revenue without seeing more patients

Mon, 14 May 2018 13:17:00 -0700

Does your practice struggle with ways to be more profitable? Most practices know their monthly expenses and budget accordingly. But, there are only so many hours in a day to see patients. And cutting expenses can be hard, especially if you’ve already made the mover to cut day to day spending. The question begs, ‘Do you know where your money is coming from?’. The knee jerk answer is insurance and patient payments. But, how much money do practices leave on the table because of missed opportunities to capture other patient revenue?

Below are 5 things you can do in your practice to capture more revenue without seeing more patients.

Copay's and Deductibles – Since the adoption of the Affordable Care Act, copay's and deductibles have played an increased role in the financial make up of a practice. Copay's alone can make up to 35% of some practices income. Capturing every copay and deductible can increase the bottom line significantly over the course of a year.

Eligibility – Utilizing your EHR or practice management systems eligibility services will help your staff increase collections on both copay's and deductibles. Knowing the correct copay and deductible will allow your staff to have informed conversations with your patients and collect more revenue up front rather than waiting on EOBs and capturing revenue months later.

Card on File – Card on file is another powerful tool that allows you to capture patient money more readily. It’s also a great service to your patients. Having card on file allows your practice to set up payment plans for your patients who have high deductibles or who have incurred unplanned medical costs. It allows you to control cash flow in your practice by being able to communicate with your patients about how and when payments will be made.

CCM, AWV or other specialized visits – If your clinic sees Medicare patients there is a...Read More

EHR SEcurity

Mon, 30 Apr 2018 09:15:25 -0700

In a world where an ever-increasing amount of patient information is becoming digital, it is important to ensure the information contained within your EHR and the network it operates on is secure. No one wants to be the source of the next data breach or to lose an entire patient database to a ransomware attack. So, how does one determine if the information they are responsible for is safe?

Beyond your HIPAA policies and procedures, a great way to start is by answering the five following questions.

1. Are data and application configurations backed up and are hardware systems redundant?
2. Is the EHR hosted safely in a physically and electronically secure manner?
3. Are clinical applications and system interfaces tested individually and as-installed before go-live and are they closely monitored after go-live?
4. Are computers and displays in publicly accessible areas configured to ensure that patient identifiable data is physically and electronically protected?
5. Is there a role-based access system in place to ensure that all applications, features, functions, and patient data are accessible only to users with the appropriate level of authorization?

If you answered no or are unsure of the answer to any of these questions your data and network may be at risk. Don’t worry though, there are resources to help.

Begin by visiting healthIT.gov/safer. Here you will find self-guided worksheets (SAFER Guides) that walk you through every aspect of your practice’s EHR safety and redundancy. You can also watch videos, get the latest news and updates from healthIT.gov, sign up for online classes, and much more.

Next, reach out to a local group that specializes in practice consultation. Look for a group that offers free consultations and can offer referrals of satisfied clients...Read More

aUTOMATION

Fri, 20 Apr 2018 14:00:26 -0700

Technology and automation have become a major driving force in medical practices. Download our automation whitepaper to see 10 things you can automate in your practice that will increase patient satisfaction and drive revenue.

Five Easy Steps to Reducing Accounts Receivables in your practice

Wed, 28 Mar 2018 15:20:35 -0700

The goal of any medical practices billing department is to get the claim to zero. Those who've worked in medical billing know that it is sometimes easier said than done. During the first quarter of the year accounts receivables, or AR for short, can be particularity high because of patient deductibles.

Below are five easy steps to reducing your AR.

1. Calculate Your Days in AR

Without knowing this figure it's hard to gauge if claims are being paid in a timely fashion.

Once you know your days in AR you can set benchmarks and start setting goals for the billing team. You can also make a plan to work down your days in AR once you've established a benchmark. An efficient billing department will be under 30 days in accounts receivables. If your practice runs above 40 you have a problem and need to evaluate why AR is running so high.

2. Gather Critical Data

If your practice isn't gathering critical information on the phone when a new patient calls it's a lost opportunity to reduce AR. Obtaining insurance before the patient comes in allows your team to check eligibility, copay's and deductibles. Your PM system may allow you to do same day checks. But, during busy clinic times front desk staff may not be able to pull this information.

Another critical best practice is making sure patient information is up to date when the patient is in the office.

Demographic mistakes can delay claim payments for at least 30 days

3. Eligibility Verification

Verifying insurance is a sure fire way to ensure AR goes down. Knowing if a patient owes a copay, deductible or has lapsed coverage allows your front desk team to collect the appropriate payment up front. This reduces billing the patient. Or, chasing down a patient for new insurance information,...Read More