Plugging Leaks and Maximizing Practice Profits
Course Overview
How would you spend an extra $81,468 in your practice? That’s the annualized amount that a small practice found when it plugged just one revenue leak and improved its focus on collecting copays and deductibles at the time of service.
Seemingly "little" revenue leaks can lead to large bottom line losses. This course focuses on helping find those "little" leaks $6,000 in uncollected copays here, $4,000 from inappropriate under-use of one CPT code there and devise strategies for plugging the operational leaks that cause the losses. You will analyze financial and receivables reports, understand the connection between financial "leaks" and a poorly utilized computer system, and learn creative ways of controlling overhead. Practical pointers and receivables management strategies are included in this fast-paced program.
Learning Objectives
As a result of attending this course, participants will understand how to:
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Use a CPT frequency report to diagnosis a number of coding and revenue leaks
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Use key financial indicators to identify areas that need attention
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Review an accounts receivable report; strategize about priority problem areas
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Recognize contract language that can cause reimbursement hemorrhages
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Evaluate a financial statement and understand how to calculate cost centers
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Recognize operational "system failures" that cost the practice big dollars
Who Should Attend?
Practice decision-makers, physicians, administrators, and managers who have critical, bottom line responsibilities
How Long is the Workshop?
1 1/2 hours to 1/2 day. The 1/2 day version includes case studies and group exercises.
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