Think you have your Medical Practice’s Xero or MYOB file mastered?
While you've perhaps run your medical practice with the same procedures for years, you're possibly starting to see that you can't maintain those tactics forever. What worked for you just five or ten years ago just isn't feasible now with more complex demands in the healthcare field.
The cost of dealing with paper in the medical industry is becoming a huge problem that's still slow to change. You can find considerable evidence of how high the percentages are in the paperwork still being used in medical practice accounting (More than 85% of SMB workflows have a paper based[...]
Traditional paper billing is becoming less common as medical service providers are switching to online billing and paperless medical practice. After moving their practice to in-server softw not possible to goare, many medical practitioners are taking their software to the cloud using medical[...]
Accounts payable and supplies management are essential parts of any business strategy but, is growing in importance for medical practices today because they need a simpler online system that does away with piles of receipts & invoices so they can focus more on patient relationships and quality[...]
Making sure payments get properly processed and sent is likely a major challenge in your medical practice, and you may not always succeed with the system you have in place. Especially if you're still using a paper-based system or other outdated software, invoices could become misplaced or end up[...]
It's probably safe to say no one chooses medical school or embarks on a healthcare profession in order to focus on doctor revenue management. But in virtually every medical practice in 2017, accounting and revenue management is crucial to running a healthy practice.
What process do you follow to ensure that your practice banks the cash that is recorded as being paid in your practice management software (PMS)? Despite routinely following the process, is your practice regularly struggling to reconcile the bank balance with PMS receipts?
You are not alone.[...]