Identification and clarification of a case payer type is quite simple in concept and execution. In fact, the doctor knows the case type in most cases before he ever meets the patient, because it’s administrative in nature, not clinical. However, there are several subtleties, which must be known to both doctors and patients, and openly addressed for best outcomes. Cash or Indemnity Insurance In most Chiropractic practices, this payer set is by far the most common. Indemnity insurances are also thought of as traditional health plans, and are the subject of much heated discussion since the … [Read more...] about Case types by payers
Finances & Tracking
Delegation and Inspection
Effective delegation is one of the hallmarks of an effective manager. However, this is easier said than done. When Delegation is ineffective, there are holes and gaps in your processes and procedures. Many times, you do not know about these gaps, because most practice systems involve significant delays, both internal and external. A perfect example involves insurance billing; I your process is incomplete or has gaps, the minimum amount of time before you know about it is 2 weeks, but many times it’s several months. Here are some simple steps and concepts in improving your delegation skills: … [Read more...] about Delegation and Inspection
Creating Value in Your Practice 2
Even healthy mid-phase or late phase practices are typically overly dependent on the primary doctor’s physical presence in the office and on the personality and energy of the doctor. This is certainly a critical piece of the puzzle, but over-reliance on the primary doctor is actually a weakness when it comes to creating value and creating smooth practice transitions. For healthy mid-phase or late phase practices, here are few key points to get in place or to improve if already in place. Standard Procedures If you ever find yourself repeating instructions or dictating the same procedure … [Read more...] about Creating Value in Your Practice 2
Creating Value in Your Practice 1
This next series will address several key points in the overview of managing your practice to create value in the future. Many doctors do not consider these points until they are forced to leave practice, or simply desire to slow down and retire from practice. By that time, it’s too late to change many of the features that a potential buyer would find either objectionable or desirable. We’re got to think ahead! Practice life cycles Over a 30 year working lifetime, a typical doctor will see the practice go through 3 distinct phases: early, middle and late careers. 30 years is an arbitrary … [Read more...] about Creating Value in Your Practice 1