How to Find a Medical Bookkeeper
Finding a great medical bookkeeper for your new practice is a breeze when you ask for referrals, search on the right websites, and vet your applicant with reviews and testimonials. Start by speaking with your colleagues and friends in the healthcare industry. Find out who they use for their medical bookkeeping, and how happy they […]
The Mystery of Doctor Credentialing
Doctor credentialing is the process by which a third party evaluates the history, qualifications, experience, and ongoing education of a practicing physician or healthcare professional. Credentialing allows insurance companies and patients to ascertain the quality of care they can expect to receive from the doctor in question. It also protects patients by verifying any malpractice […]
Build Or Buy: In-House Medical Coding Vs. Outsourcing
What is the most cost-effective way to conduct medical coding in your healthcare practice? Some doctors choose to hire an in-house medical coder, while others choose to outsource these services to a medical coding company. Those who use in-house coders essentially ‘build’ a medical coding practice within their own healthcare practice. Those who use outsourced […]
HMOs vs PPOs
As the owner of a new or growing medical practice, it’s important to have a strong understanding of your patient’s health insurance options. The vast majority of your patients will be enrolled in either an HMO or a PPO medical insurance plan. Understanding the differences between these two types of insurance will help you and […]
What Is A Merchant Processor?
What types of payments will you accept from patients at your new medical practice? In addition to working with various health insurance companies, you may want to accept payments via credit card, debit card, and other means of electronic payment. A merchant processor, also known as a merchant services company or credit card processing company, […]
The Pros And Cons Of Money Factoring
Money factoring allows your medical practice to maintain a steady cash flow regardless of when your patients are able to pay their bills. Companies called factors will give you up to 90% of the total of an unpaid invoice. Once your customer pays their bill, you’ll be reimbursed the additional 10% minus the factoring company’s […]
Leasing Medical Equipment Vs Buying
Should your medical practice buy or lease the medical equipment you need to serve your patients and stay ahead of the competition? Both leasing and buying offer benefits and drawbacks to a new or growing practice. Buying your own medical equipment is the more affordable choice over the long-term in the same way that buying […]
In-House Human Resources vs Outsourced
Your growing medical practice needs a Human Resources Department to manage important areas of your business such as hiring, payroll, benefits, and interpersonal company relationships. The decision to outsource your HR needs or hire a dedicated, in-house HR professional isn’t easy – both options have their advantages and disadvantages. An in-house HR department will be […]
Types of Commercial Loans for Buying a Commercial Condo
Are you ready to purchase a commercial condo for your medical practice, but don’t have hundreds of thousands of dollars to invest? You’re in luck. For new and growing medical practices, there are a variety of commercial loans available to help you get your practice up and running, or to help a growing practice thrive […]