Medical Practice Management Today
The health care environment continues to morph and change, seemingly every day. These changes have led to an increase in physician practice consolidation. Some of the reasons for consolidation include shared overhead expenses as well as efforts to gain economies of scale, create leverage in managed care negotiations, make ancillary services profitable, and increase resources in order to acquire equipment that was too expensive to purchase prior to consolidation.
As a result of these changes, medical practice managers have had to adapt on the fly to ensure all facets of medical practice management are covered and updated to match the resulting merged environments. These facets include everything from proper intake, authorization, charge capture and entry to clean and timely billing and collection. Managers also must ensure the newly merged practice has attained both a compliance and HIPAA security plan and provided training for the employees. This is done to ensure exposure to both HIPAA violations and overpayment audits for the newly formed practice are minimized. Now more than ever, medical practice managers and their skills are relied upon to ensure a smooth transition from a once small, one-to-two physician practice to a large multi-physician practice is relatively seamless.