HMOs vs PPOs
As the owner of a new or growing medical practice, it’s important to have a strong understanding of your patient’s health insurance options. The vast majority of your patients will be enrolled in either an HMO or a PPO medical insurance plan. Understanding the differences between these two types of insurance will help you and […]
What Is A Merchant Processor?
What types of payments will you accept from patients at your new medical practice? In addition to working with various health insurance companies, you may want to accept payments via credit card, debit card, and other means of electronic payment. A merchant processor, also known as a merchant services company or credit card processing company, […]
The Pros And Cons Of Money Factoring
Money factoring allows your medical practice to maintain a steady cash flow regardless of when your patients are able to pay their bills. Companies called factors will give you up to 90% of the total of an unpaid invoice. Once your customer pays their bill, you’ll be reimbursed the additional 10% minus the factoring company’s […]
Leasing Medical Equipment Vs Buying
Should your medical practice buy or lease the medical equipment you need to serve your patients and stay ahead of the competition? Both leasing and buying offer benefits and drawbacks to a new or growing practice. Buying your own medical equipment is the more affordable choice over the long-term in the same way that buying […]
In-House Human Resources vs Outsourced
Your growing medical practice needs a Human Resources Department to manage important areas of your business such as hiring, payroll, benefits, and interpersonal company relationships. The decision to outsource your HR needs or hire a dedicated, in-house HR professional isn’t easy – both options have their advantages and disadvantages. An in-house HR department will be […]
Types of Commercial Loans for Buying a Commercial Condo
Are you ready to purchase a commercial condo for your medical practice, but don’t have hundreds of thousands of dollars to invest? You’re in luck. For new and growing medical practices, there are a variety of commercial loans available to help you get your practice up and running, or to help a growing practice thrive […]
What Is A Commercial Condo?
A commercial condo allows medical professionals to buy a fixed amount of office space in an industrial or sometimes residential condominium building. Commercial condos offer the benefits of ownership for smaller practices that aren’t yet ready to obtain an entire commercial building or to rent larger office space. While the commercial condo owner is somewhat […]
Determining Location Options
Choosing the perfect location for your medical practice is key to setting up your business for success. But the location you choose should never be determined by geography alone. You should also consider the following questions when determining location options for your new practice: 1. What type of practice are you opening? Whether private or […]
The Medical Coding Company That Could
Choosing an experienced medical coding company is one of the most important decisions you can make for your medical practice. A good medical coding company will prevent delays, mistakes, and rejected claims in your medical billing. When choosing a medical coding company, it’s important to find an experienced company that focuses solely on medical coding. […]