Part B News | Physician Practice Perspectives

Keep tabs on cash receipts or risk losing money to fraud

09/01/2004

Saturated physician schedules and complex financial transactions often create a business environment susceptible to fraud. But internal controls, such as segregating duties, could save your practice from needlessly losing thousands of dollars to a dishonest employee.

Write off competition, woo new patients with brochures and newsletters

09/01/2004

A polished promotional brochure can spotlight your practice as a leader in your community. Brochures and quarterly newsletters recruit and welcome pa-tients, educate them about practice policies, and advertise services to new and old patients alike.

Solve billing mysteries with EOB detective work

09/01/2004

An explanation of benefits (EOB) is a litmus test for billing and personnel problems that keep your practice from earning the money it deserves. Send out clean claims and scrutinize EOBs upon their return to uncover why claims keep bouncing back-EOBs are key to improving your bottom line.

Don't put telephone-system improvements on hold, Part II

09/01/2004

An automatic attendant can field as many calls as you have phone lines, routing them quickly and efficiently to the appropriate personnel. Juggling multiple callers permits your operator or receptionist to answer calls that require personal attention.

Follow investment fundamentals for a healthier financial life

09/01/2004

When my daughter describes her experiences as a young physician, I am intrigued by the apparent similarities between the behavior of her patients and my investors. Most notable is the striking parallel between patients ignoring proven principles of healthcare and investors ignoring proven principles of finance.

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