Your practice management system contains a wealth of information that can help you run a better practice. Are you taking advantage of it?
For example, you can use your system data to evaluate the performance of your contracted payers and the billing habits of your practice staff.
Information you can track includes the number and reasons for claim denials and appeals, the average time for claims payments by payers, coding and fee changes, requests for additional information, and your payer mix.
With that knowledge, you may discover your practice files claims too slowly, codes certain services improperly, or fails to supply required documentation routinely. Staff training or revising your billing processes may be in order.
The data may reveal that one or more payers demonstrates consistently poor performance or creates additional administrative burdens for the practice. Documentation of delays and payer challenges can put you in a better bargaining position during contract negotiation.
TMA Practice Consulting can help you improve your practice operations. Consultants can provide a billing and collections assessment, coding and documentation reviews and training, or a full operations assessment. These fee-based services offer continuing medical education credit, too.For information, contact TMA Practice Consulting (800) 523-8776 or (512) 370-1413 or practice.consulting[at]texmed[dot]org.
Published Nov. 29, 2011
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Last Updated On
June 03, 2016