Collections, Insurance and Internal Auditing. Do It Like the Experts!

MMHSI is in a unique position because our practice management consultants work in many medical practices. We see what works and what does not. In this book, we provide tips garnered from successful practices and offer suggestions to avoid problems that can arise quickly in any accounts receivable management system. Turning Patient Care into Revenue addresses collections from patients and health insurance plans. Too often, our consultants encounter medical practices in various stages of financial trouble due to ineffective accounts receivable management. Worse, these problems can quickly spread to other areas adversely impacting the practice such as – difficulty reinvesting in the practice, declining morale, inability to refill vacant positions, cutbacks in marketing, delays in most necessary – but not immediately required – expenditures, and potential tension among physician partners. Even when issues are not as obvious, the effectiveness of billing and accounts receivable management processes might still be improved with a little fine tuning. Even the best system will benefit from a fresh reassessment. This is a comprehensive book for those involved in collecting from patients or insurers. It begins with developing a collection system, getting physicians and staff involved, what insurance companies should pay, etc.

Other topics include:

•       How to hire and manage billing/collections staff. 

•       Setting goals that improve results.

•       Laws regarding collections.

•       Insurance Filing and Followup

•       Accounting Systems and Internal Control

•       Managed Care Contract Provisions Impacting Collections

•       and more!

Most importantly, readers will learn how to audit their collection efforts to KEEP it effective, without spending a lot of time and wasted effort.