No shows, how to avoid them

Posted by Christina Horne on Nov 27, 2019 4:00:00 PM

Did you know, on average patient no shows can cost the healthcare industry up to $150 billion annually? That is an immense waste of money that could contribute to more beneficial areas for the healthcare industry. Each missed appointment for a practice is lost money, which means there needs to be a solution for missing income. Some practices find it beneficial to have a fee charged to those who miss appointments to recoup some of the lost income. However, if there is a way to minimize the amount of missed appointments, then there is a better chance for increasing income. Starting with the beginning of the process, if scheduling is done well and pre-registration is completed, and the staff follow up with appointment reminders there is a higher probability that somewhere in those parts of the process the patient will cancel is needed. One of the top reasons for no shows is due to fear of payment. If prior to the appointment the patient knows exactly what they will owe after insurance, then they will more likely be willing to attend the appointment or reschedule for another time. Unfortunately, the number one reason for no shows is forgetfulness. Therefore, the appointment reminder phone call is important.  The patient is more likely to cancel or remember to arrive for the appointment. Lastly, your practice should allow for cancellations, but there needs to be a cancellation policy in place. Patients should have ease of access to cancel through a patient portal, or the ability to call to cancel and know their call will be answered. Patients should be given a certain time frame in which they can cancel without penalty or reschedule. Take the time to review how your practice handles no shows, and from there find the areas for improvement, your cash-flow may depend on it.

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Topics: practice management, patient satisfaction, patient collections, Medical Practice, Patient Experience

Outsource your medical billing to get paid faster

Posted by Kate Tingley on Oct 22, 2019 6:41:38 AM

Medical billing can be time-consuming, yet, if you’re like many physicians who are in private practice, you have your staff handle patient billing in-house. No doubt you know that billing is also one of the most complicated aspects of running your own medical practice.

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Topics: medical billing, outsourcing, Medical Practice

3 common uses and misconceptions about AI in medical practices

Posted by Kate Tingley on Oct 4, 2019 7:19:04 AM
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Topics: AI, Medical Practice

3 lessons physician practices can learn from big business

Posted by Kate Tingley on Oct 4, 2019 7:16:11 AM

3-lessons-physician-practices-can-learn-from-big-business

Physician practices are facing competition from new sources, but they can take some lessons from companies such as Amazon and Southwest Airlines, according to two optometrists.

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Topics: Medical Practice

3 steps to simplify patient payments

Posted by Kate Tingley on Oct 4, 2019 7:15:01 AM

These days, it is both easier and more difficult for patients to pay their medical bills.

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Topics: patient accounts, patient satisfaction, patient collections, Medical Practice

3 tips for practice administrators in team-based settings

Posted by Kate Tingley on Oct 4, 2019 7:12:58 AM

A good administrator makes a practice more productive by ensuring all physicians and staff members work together smoothly and effectively, and that could be the key to a smooth transition to team-based care, according to an article in Diagnostic Imaging.

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Topics: Healthcare, Medical Practice

4 business optimization strategies medical practices can use now

Posted by Kate Tingley on Oct 4, 2019 7:11:49 AM

4-business-optimization-strategies-medical-practices-can-use-now

Process optimization has long been used by manufacturers to streamline processes, ensure quality control, and increase profitability. Companies like Motorola and GE, for example, were early adopters of Six Sigma, a quality improvement methodology aimed at reducing the number of defects to the point that they become statistically insignificant. As business improvement tools and methods were refined in the last part of the 20th century, the broader corporate world began utilizing various techniques to measure and optimize all types of processes – from customer service procedures to personnel evaluations to how organizations are structured and staffed.

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Topics: Healthcare, Medical Practice, Business

4 ways for practices to control overhead, increase revenue

Posted by Kate Tingley on Oct 4, 2019 7:10:02 AM

Finance

Unlike many other businesses, medical practices can’t pass on rising costs–such as increasing rents, employee salaries and utilities–to their customers, or in this case, patients. But they must find some way to control them.

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Topics: revenue cycle management, Medical Practice

4 ways to cut down on no-show patients at your practice

Posted by Kate Tingley on Oct 4, 2019 7:08:47 AM

Waiting-room

No-show patients are an annoying and costly problem for practices, but one community-based health center in Long Island, New York, is making headway.

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Topics: Medical Practice

5 ways to make your medical practice more efficient

Posted by Kate Tingley on Oct 4, 2019 6:57:44 AM

If you were to stop and take a hard look at your practice, would you see annoyed patients sitting for too long in the waiting room? Phone lines that go unanswered? Unhappy physicians suffering from long hours and burnout?

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Topics: Medical Practice

Coronis Health strives to provide valuable healthcare billing, revenue cycle and practice management information to practices and hospitals. Our blog is one of the many ways we serve as a resource to the healthcare community. Here you'll find articles on:

  • Reimbursement and coding changes
  • Tips and tricks for specialty practices
  • Resources for revenue cycle success

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