Gain powerful visibility into your operation with McKesson Practice Focus™. McKesson Practice Focus™ is designed to help your medical organization achieve peak performance by providing immediate access to essential and timely detailed medical billing and accounts receivable data. With a new level of clarity and control of your organization’s vast, critical information, you can effectively monitor business patterns and optimize operations. You’ll have the tools to transform your data into informed decisions.

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graphs and reports for medical practice management

Advantages:

Organizational Benefits:

• Web access to data, available anywhere via a broadband connection

• Role-based security, ensuring each user has the right access

• Easy, point-and-click navigation

• Over 75 standard reports and dashboards provide the ability to focus on precise data and share findings

For the Manager:

• High-level dashboards for quick insights

• Standard report templates

• E-mail report delivery

• Easy, point-and-click navigation

• Derive knowledge and conclusions that assist them to make informed innovative business decisions

For the Power User:

• Powerful, query-based report designer

• Accessible billing information

• Collaborate with others for additional analysis

• Drilldowns to expand and contract data sets

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In an article from the MGMA, they state that the average out of pocket cost for a “commercial health plan” patient, each time they visit the doctors office, is approx $110 per visit.  This is a far cry from the simple days when patients only paid a $5 or $10 copay and that was all.

What does this mean to your medical practice cash flow? Several things, first it means that you need to understand the whole revenue cycle management concept and be aggressive in your patient collections since they are paying a bigger portion of your bill.

I use this analogy all the time when consulting with doctors offices;  You wouldn’t expect to go shopping to your local Grocery store, get to the checkout counter, have them bag your groceries, take the bags and yell out to the cashier as you are leaving “just bill me for these” would you?  No, you go shopping, you pay for your products or services right then and there; medical offices need to have the same philosophy about payment for services.

What can you do? Several things, lets start with a short list:

1- Eligibility verification

2- Collection of Copays, co-insurance, and other fees at time of visit.  (Its a whole lot easier to collect from someone face to face, than for them to leave and try to play “telephone tag” afterwards.)

3- Sending regular statements

4- Calling patients to remind them to pay their bill.

5- For some specialties, consider a financing plan where the patient pays the plan and you get your money up front, and the plan takes the responsibility of collections.

6- Create and follow a collection policy.

 

I will go into further details in subsequent blog posts, so stay tuned.

 

All The Best,

 

Harry Selent, MHA

 

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