Has Your Practice Taken a Big Revenue Hit?

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If you temporarily closed your practice – or drastically cut back on patient visits – because of COVID-19, you might be considering reopening soon. 

However, just because statewide shelter-in-place orders have been lifted, ramping back up doesn’t mean you can pick up right where you left off. 

There are many things to consider, not the least of which is keeping your staff and patients safe. 

You’ll want to let patients know you’re back in service, and you might want to consider scheduling longer appointments or temporarily extending office hours. After all, some patients might have put off checkups or procedures. 

You also might want to automate processes like online billing and appointment scheduling, and fully implement your patient portal. Of course, you still need to stay on top of payer changes. 

But exactly which steps should you take – and when – to make a smooth transition back to full service? 

The Texas Medical Association has created a “Road to Practice Recovery” guide that outlines what you should do now and in the future. 

The accompanying “Road to Practice Recovery” TMA webinar covers adjusting to the COVID-19 downturn, preparing to reopen, making the initial transition, reopening your practice, and tips for success. The webinar is accredited for 0.5 AMA PRA Category 1 Credit™.  

In addition, TMA has created a podcast that offers tips to help you prepare for a post-COVID-19 surge of patients, and to spot changes you can make to help ensure the financial and operational viability of your practice.

If you need more help making informed decisions for your practice, TMA has released a Practice Viability Toolkit that provides the most up-to-date information and resources. The toolkit covers telemedicine, cash flow (including loan assistance; payers, coding, and documentation; and human resources), and more. 

The toolkit, Road to Recovery guide and webinar, and other tools, resources, and information can be found on the practice viability section of the TMA COVID-19 Resource Center

And don’t forget to answer the phone at 7 pm, Thursday, May 7, when TMA calls you for our third COVID-19 TeleTown Hall meeting. Hear the latest news on available financial assistance and ask your questions to our seasoned finance, practice management, and personnel experts.

 

Last Updated On

May 06, 2020

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