Med Practice Made Perfect

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Practicefirst

9 episodes

7 months ago

In this episode of “Med Practice Made Perfect”, host Tom Maher dissects the insourcing-versus-outsourcing dilemma in revenue cycle management (RCM) for medical practices. Maher explores the contrasting viewpoints on control, oversight, and cost-effectiveness associated with each approach. If you’re debating whether to keep your healthcare billing and coding internal or outsource it with an RCM vendor, this is a great place to start. Tom introduces the industry debate by outlining the opposin...

Management

Business

RSS

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Management

Business

Episodes (9/9)

Med Practice Made Perfect

Insourcing Vs. Outsourcing (Med Practice Made Perfect - Episode 09)

1 year ago

20 minutes

Med Practice Made Perfect

Optum Healthcare Termination Letters for RCM Services (Med Practice Made Perfect Ep. 08)

Welcome to MedPractice Made Perfect, brought to you by Practicefirst Medical Management Solutions. In this episode, host Tom Maher will delve into a pressing issue affecting many medical practices: termination letters for RCM services from Optum. Understanding the Situation Optum recently acquired a significant portion of business from ChangeHealthcare. As part of the integration process, Optum has begun terminating contracts with practices having fewer than 16 providers. These termination no...

1 year ago

5 minutes

Med Practice Made Perfect

Starting A Medical Practice (Med Practice Made Perfect - Episode 07)

Starting a medical practice is a process rife with potential landmines. If caught off guard, hopeful practice owners may find themselves dealing with major delays, incurring fines, or experiencing significant revenue cycle issues down the road. In this insightful podcast episode, we delve into some of the key intricacies of launching a successful medical practice while giving a broad overview of the process. Host Tom Maher shares his valuable insights on the logistical planning, legal ...

1 year ago

23 minutes

Med Practice Made Perfect

Foundational Marketing Pieces for Medical Practices (Med Practice Made Perfect - Episode 06)

The online presence of healthcare practices presents distinct challenges that administrators must navigate, setting it apart from other industries. In this insightful episode, Tom’s guest Claire Carlo highlights the significance of establishing a strong foundation for effective healthcare marketing. Key elements, such as a mobile-optimized website and readily accessible transactional details like contact information and appointment scheduling, are fundamental to success. However, Claire stres...

2 years ago

30 minutes

Med Practice Made Perfect

End of the COIVD-19 PHE (Med Practice Made Perfect - Episode 05)

In this episode of the MedPractice MadePerfect podcast, host Tom Maher reviews a selection of important policy changes stemming from the end of the COVID-19 Public Health Emergency (PHE). Practicefirst is an industry leader in revenue cycle management, providing medical billing, coding, credentialing, and full-service practice management solutions to healthcare organizations.

2 years ago

17 minutes

Med Practice Made Perfect

Pitfalls of Using Coding Algorithms (Med Practice Made Perfect - Episode 04)

While coding algorithms can significantly improve the accuracy and efficiency of medical coding, they are not a replacement for human expertise. In fact, working with coders is essential to optimizing the use of coding algorithms and maximizing profitability. Coders play a critical role in ensuring that coding algorithms are used correctly and effectively. They are trained to identify nuances and complexities in medical data that algorithms may miss, ensuring that codes accurately reflect a ...

2 years ago

26 minutes

Med Practice Made Perfect

KPIs and Metrics for Your Medical Practice (Med Practice Made Perfect - Episode 03)

Key Performance Indicators (KPIs) are essential metrics used by successful medical practices to monitor their financial health and boost profitability. By establishing KPIs, practices can track important numbers such as revenue, expenses, and cash flow trends. KPIs help identify potential issues in the revenue cycle before they become major problems for the practice's finances. KPIs should be tracked regularly, at least yearly, but ideally even more frequently such as month-over-month, to en...

2 years ago

25 minutes

Med Practice Made Perfect

Speeding Up Your Revenue Cycle: Operational Best Practices (Med Practice Made Perfect - Episode 02)

Not everyone thinks of a medical practice as a business - but in fact, it is just that, a business - and people want to be treated the right way. That includes interactions with their doctor and any healthcare provider, but also the rest of the staff. It is very important that your patients feel empathy from your team for their medical plight but also cared for as a customer. It is important to ensure a great experience by finding the right combination of personalities and procedures to man...

2 years ago

21 minutes

Med Practice Made Perfect

Speeding Up Your Revenue Cycle (Med Practice Made Perfect - Episode 01)

Medical practices have long been faced with adapting to the rapidly-changing insurance landscape, including major shifts in policy like the Medicare Prescription Drug Improvement and Modernization Act of 2003, and the Affordable Care Act in 2010. The latter introduced high deductible plans to the American public; a major departure from the payment arrangement that both practices and customers had been accustomed to. Your practice's billing and coding procedures may have kept up with p...

2 years ago

15 minutes