ALL >> Health >> View Article
How To Generate More Revenue Through Your Medical Practice | Emedevents
Total Articles: 76
Providing excellent patient care while maintaining a financially healthy practice is every practitioner’s bottom line. With each new healthcare system implementation, many new modifications are added to medical billing rules and regulations and any error could quickly lead to fines and uncollected revenue. For example, a simple coding practice error in paperwork could take several weeks to get resolved by insurance companies.
As a practitioner, we recommend you consider the following five steps to help generate more revenue through your medical practice.
How to Generate More Revenue Through Your Medical Practice
Increase revenue by offering multiple payment options such as cash and online payments in addition to filing the insurance claim. Whenever a patient’s insurance does not cover procedures or services, offer them alternative payment options. Providing flexibility to your patients will make it easier to retain them in the long run.
Curb your wait time:
Before even booking the appointment, offer services such as check your symptoms online, gather patient records before the visit, maintain a strict policy on cancellation, late arrivals, and no-shows, and give out forms to patients that they can complete at home instead of in your waiting room. Having a clean and well-designed practice layout also helps patients relax while they wait for their doctor's appointment.
Cross verify insurance plans:
Having a trained staff that can quickly nab any lapse in insurance coverage including any expired insurances could save a lot of headaches in the long run. Get a copy of the insurance every time the patient visits to help avoid any issues with revenue bills.
Apply for government and private contracts:
Applying for capitation will provide you with another source of income for your practice and introduce you to a new set of patients. There are 3 types of capitation to choose from: Primary Capitation, Secondary Capitation, and Global Capitation. Also, consider applying for federal and private grants that are aligned with your practice.
Another option to improve your revenue is to sell products that will help patients achieve their medical goals. An example is selling skin care products at your practice if you are a dermatologist. You can also consider providing other medical services such as rehabilitation, various therapies, and other medical services that will attract more new patients.
Apart from these ideas, consider attending CME medical conferences that help you achieve optimal patient care. At eMedEvents, we have a wide variety of medical conferences that you can choose from based on your preferences of Location, Speaker, and Specialty.
eMedEvents is the largest online database for CME events and medical conferences around the world. Here you can browse through thousands of conferences in 147 countries. Search by speaker, specialty, and location to find your next conference. Want to manage your CME on the go? Try the eMedEvents mobile app. Find your next great medical conference online or in one of more than 3500 other great cities around the world.
One stop solution for all National and International CME Medical Conferences, meetings and workshops for Physicians and Healthcare Professionals.
Health Articles1. Sensory Integration|best Pediatric Physiotherapists In Hulimavu,bangalore
Author: Sumitha Hemavathy
2. Everything About Vitamin B12
Author: DR. Sarika Nair
3. Modafinil Tablets Boost Executive Functions
Author: Lewis Paul
4. The Significance Of Dental Care To Your Overall Health
Author: Donnell Nash
5. Can Counselling Get You Out Of A Bad Relationship?
Author: Richard Gosling
6. 6 Herbal Extracts That Treat Daily Health Concerns Naturally
Author: Quantum Naturals
7. Tips For Ivf Success By Dr Shivani Sachdev Gour
8. Pros And Cons Of Plastic Surgery
Author: Kelly Sanchez
9. How To Know The Effect Of The Invisalign Treatment?
Author: Joseph Donald
10. Heart: Care For It And Live Longer
11. How To Find The Perfect Orthodontist In Lafayette?
Author: Thomas Mark
12. Chose The Best In Orthopedic
Author: Sandeep Tomar
13. How Effective Are The Lung Test Devices And How Can It Keep You Healthy?
Author: Natasha Adhikary
14. The Best Cardiologists In India: Dr Naresh Trehan & Dr Ashok Seth
Author: Medical Services of India
15. Why You Should Go For Fermenting Foods And Vegetables
Author: Kriben Govender