Finance & Enjoyment Blog
February 11, 2010Prepare for the RAC Attack
Category: Successful Practice Management
RAC Audits Are Coming! Have a sample of your claims reviewed by an outside coding expert. Be sure your compliance manual is up to date. Look for your most frequently used and highest dollar claims, and be sure coding is accurate. These will be among the first areas of RAC examination. Monitor the RAC’s Web site for the items at the center of their attention, and scrutinize your practice for all that apply. CMS requires that RACs inform the public of specific areas of interest. Connolly’s Web site is: www.connollyhealthcare.c …
Read The Rest of This PostJanuary 21, 2010KKB in the Community
Category: Successful Practice Management
Oftentimes in our lives we get so caught up in our careers and focus so intently on them that we may forget the importance of community and the need, as humans, to do what we can to improve the world around us. Volunteering is just one way, I believe, that enables us to do this. I hope you are able to see from my own experiences the joy that can be found in giving up ones time for the benefit of others. As well as how easy it is to become a volunteer. After recently moving to Lakewood from Iowa it was important to me to find ways I could give back to the place I now call home. I was luc …
Read The Rest of This PostNovember 30, 2009What Should Small Business Be Doing in a Downturn?
Category: Successful Practice Management
Small business is a major driver of the U.S. economy. In hard times, however, smaller businesses have a tough time surviving. What should they be doing to survive and thrive? Manage Payroll - Payroll is typically one of the largest costs in a small business. The challenge is to employ just the right number of people to provide optimum customer service. This means projecting sales and staffing to meet that need. The successful business will master the art of maintaining high quality service levels, without employing excess personnel that consume the businesses pot …
Read The Rest of This PostJuly 15, 2009Lease vs. Buy
Category: Successful Practice Management
Clients frequently ask me whether to buy or lease a certain piece of equipment for the medical practice. Before I can answer that question I must consider a great number of facts about the client’s specific circumstances. The first thing we look at is the current cash flow situation. Is there enough cash in the practice currently to buy the equipment outright? If the cash is there, we can save interest charges that a loan to buy the equipment would incur. With interest rates on savings accounts being almost zero these days, and credit being tough to find, paying ca …
Read The Rest of This PostJuly 14, 2009Thoughts on Influencing Organizational Culture
Category: Successful Practice Management
The organizational culture of your business defines the way you relate to your customers and to the people you work with. Your customers will be served best when the entire team works together with the same well-defined positive orientation towards service and customer care. As a customer, you inherently know when you are working with a competent individual who cares about what you want and need. It doesn’t take long for you to determine if the sales person before you is attentive and knowledgeable about store products. There was a time when “customer service& …
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