In this environment of ever-tightening payout schedules and reference codes, it's essential for medical practices of all sizes to look for ways to boost their revenues. Keeping revenues growing helps drive the success of the medical practice and complements the compassion of the staff. Follow the tips below for a seamless combination of both objectives.
There are numerous long-awaited and requested changes and additions to codes from both the AMA and CMS that can be expected for the coming year as well as beyond. Many of these pertain to distance medicine and the technologies necessary to provide such services. Below are some more significant changes ahead for providers and their coding staff.
Telemedicine — the act of delivering healthcare services remotely via video conferencing and other methods — is a growing trend in the United States. According to the American Hospital Association (AHA), telehealth was practiced in around 35% of hospitals in the nation in 2010. By 2017, that number had grown to 76%. Home telehealth visits also saw significant growth, increasing an average of 52% annually from 2005 to 2014.
Are you looking for ways to grow your medical practice? While online advertising has a solid place, there is still something important about good old-fashioned community participation. Long gone are the days when the family doctor made house calls, but there are still a variety of opportunities to help local families while gaining exposure for your office.
As too many patients and their healthcare providers can tell you, with regard to quality healthcare, bigger doesn’t always mean better. With an increasing number of smaller practices being gobbled up by larger facilities, to the tune of 5,000 independent practices within just a year, how does a practice remain independent while increasing profitability? With the focus now from CMS and others on value-based care, a golden opportunity awaits independent providers to offer a more personalized, healthcare experience than what might be expected from a larger facility.
