Unlocking the Mysteries of Medical Billing

When an unpaid medical bill is mysteriously rejected by the insurance company, Sherlock Doc is on the case! Sherlock Doc knows that medical billing is the process a healthcare provider goes through to submit and follow up on a medical claim with an insurance company. Medical billing is performed by medical billers, who may or […]
How To Estimate Staffing, Payroll, And Benefit Costs

When you open a new medical practice, some of the biggest costs you’ll incur include hiring staff, choosing benefits, and investing in a payroll company. It’s important to have an accurate picture of the amount of each expense so you can budget the other areas of your business. First, determine exactly what type of staff […]
What Is Practice Legacy Planning?

Medical practice legacy planning is the process of arranging and accounting for the numerous details that will need to be taken care
Choosing A Payroll Company

There are over 400,000 payroll companies currently operating in the United States. How are you supposed to find one that’s right for your medical practice? First, consult with your attorney, financial advisor, or an independent CPA about the benefits of outsourcing your payroll to a third party. Next, obtain referrals from other medical practices similar […]
How To Structure Practice Banking

The way you structure your medical practice’s banking will depend on the size of your practice, number of employees, and need for credit and cash flow assistance. Steer clear of regular small business banking and opt instead for a bank that has a dedicated medical practice banking program. Choose a business checking account that offers […]
How To Find Money Factoring Resources

Money factoring is a short-term solution to help you maintain a steady cash flow in your medical practice. While factoring is not a traditional loan, it’s still important to shop around and a find a factor that isright for you. There are 3 effective ways to find a money factoring company: First, check trade publications […]
Merchant Services – Payment Gateway

In order to accept credit card payments from your patients, you medical practice needs what’s known as a payment gateway. This service is responsible for processing credit card transactions each time a patient makes a payment. Every time a patient pays with a credit card, whether it’s in your office, online, or after receivinga bill […]
In House Medical Billing vs. Outsourcing

The choice to conduct your medical billing in-house, or to outsource your medical billing to a medical billing company, is one of the most important decisions you’ll make for your growing healthcare practice. There is no right or wrong answer to the in-house vs. outsourcing battle, since there are pros and cons to each approach […]
How To Choose A Medical Billing Company
When choosing a medical billing company, it’s important to line up all the usual suspects. These are the services a medical billing company must provide in order to make outsourcing profitable for your practice. They include… The generation and submission of claims… Carrier follow-up…. Payment processing… Patient support and invoicing… And transfer to collection […]