2015 will be a year of new options and focus.
- Conversion to ICD 10 in October
- Continued Meaningful Use escalation and requirements
- Meaningful Use audits
- ACA re-organizations
- Bundled payments
- Mega data analysis
- Continued expansion of IT services and opportunities
- Healthcare apps on multiple devices
- Dealing with the out-put of healthcare apps
So how does a practice gear up for all that while maintaining financial soundness? The best way to ensuring your practice can take all the steps that will be required in 2015 to be successful, is to make sure the basics are well tended.
The basics include:
- AR management – AR days less than 35, 120 day aging bucket 10% or less of AR, self-pay collections on target, denials worked the same week they come in.
- Point of service collections for co-pays ALWAYS collected at point of service
- HIPAA plan in place and followed by all employees
- EHR is efficiently used by physician and staff and patient can walk away from appointment with proper documentation in hand
- Patient portal used and followed up daily by appropriate staff
Having the proper handle on the basics will be the foundation for 2015. The basics will pay your bills, expand patient satisfaction, and assure meaningful use incentive dollars in the door. It will also mean no hassle at an audit if ready for one.
Need some help making sure those basics are where they need to be? Give MMS a call! We can help position you for a new year and new challenges.