As we work with PTs across the country, we’re often asked about the pros and cons of charting while you treat. Those against say it takes away from your focus on the patient. Those in favor point to increased accuracy and time savings. SpectraSoft has always argued in favor of bringing your rehab EMR system into the treatment room. In fact that’s a key design consideration of our DocuPRO Rehab Documentation System.
Practice Revenue News
New ideas to enhance practice revenue through better appointment scheduling, patient documentation and medical billing
Are Appointment Reminders “HIPAA-Compliant?”
September 16th, 2011 by SpectraSoft
A great way to reduce costly no-shows in your practice is to remind your patients about their appointment. An automated reminder system can ensure every scheduled patient receives a text message, email, phone call and/or letter. However with all the changes in healthcare, you may wonder if sending these automated messages violates HIPAA rules for protecting Patient Health Information (PHI). Read the rest of this entry »
Manage your practice like Warren Buffett
August 16th, 2011 by SpectraSoft
In today’s harsh healthcare environment, wouldn’t it be great to get practice management advice from a real expert? Someone who knows how to generate revenue and profits in good times and bad?
Billionaire Warren Buffett has compiled a pretty good track record. Based on his public comments and well-studied approach to investing, here is some of the advice he might give to an owner or manager looking to grow a practice… Read the rest of this entry »
AMA Report Card: Payors Aren’t Paying
July 20th, 2011 by SpectraSoft
As we first talked about in 2009, insurance companies have found that the best way to pad profits is simple: they just don’t pay. In fact the latest Report Card from the American Medical Association finds that the problem has actually gotten worse in the last year. Most payors only reimbursed 85% – 88% of their contracted fee schedules. One insurer paid just 61%!
7 Tools for High-Volume Scheduling
May 18th, 2011 by SpectraSoft
If you are in a medical specialty that sees patients for just a few minutes, you know how frantic the schedule can get. We frequently observe clinicians that schedule three or four patients at a time in a given time slot! This hectic level of scheduling can lead to problems if not managed carefully…
Have payors turned your practice management upside down?
March 17th, 2011 by SpectraSoft
Insurance companies pummel you every month with meritless denials and underpayments. These hostile tactics add up to a fortune in write-offs — but the real cost to your practice is even higher!
As you devote more of your time, resources and manpower to a billing solution that you hope can recapture those nickels and dimes, you have less to spend on what can truly grow your practice. The solution is simple: don’t take on those big-money payors at their own game…
The ’5-Minute’ Practice Management Method
March 10th, 2011 by SpectraSoft
Most practice owners are too busy to look up all the statistics they wish they could. If you are looking to gain greater visibility of your practice and do more to help your people excel, consider this ”5-Minute Management” approach. It works on a number of different levels to help you — and your people — gain greater control over the task of growing the practice.
3 simple ways to reduce no-shows
February 17th, 2011 by SpectraSoft
No-shows are one of the biggest revenue-killers affecting your practice. One way to protect that revenue is to enhance your scheduling process. Studies conducted at the University of Missouri and the University of Nebraska uncovered some fascinating insights about why patients miss appointments. Here are three simple changes you can make at the front desk to quickly increase your practice revenue…
Read the rest of this entry »
Free White Paper: The Revenue Driven Physical Therapy Practice
February 15th, 2011 by SpectraSoft
You may not have opened a physical therapy practice for the money, but you simply can’t achieve your practice goals without revenue. If you want to manage a successful practice, it takes revenue to…
- Deliver great care with the best resources
- Put the needs of patients ahead of payors
- Go home on time
- Reward staff and retain great clinicians
- Take a vacation once in a while
SpectraSoft has specialized in enhancing the revenue from physical therapy practice management since 1993. Our latest white paper explores ways to increase new patient volume…optimize the value of authorized care…achieve full reimbursement for your work…and reduce costly patient no-shows. Please download this free white paper and feel free to contact us if you have questions or comments.
FREE Download: ”Unleashing the Revenue-Driven Practice”
The Co-Pay Crisis
November 30th, 2010 by SpectraSoft
Many providers are losing a fortune as skyrocketing insurance co-pays cut even deeper into revenue. One PT estimates that 20% of his referrals never convert into patients — due to financial concerns.
It’s no wonder when some Medicare replacement policies require a $50 co-pay per visit and other payors cover as little as $30 per appointment, leaving the rest to the patient. The result: many patients opt out of care completely while others schedule a series of visits, but cancel half of them. Here are five steps you can take to survive this Co-Pay Crisis. Read the rest of this entry »
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