Eight Exercises for a Healthy Practice

Why This Topic Matters

Medical practices can be affected by revenue pressure, rising receivables, and cash-flow challenges, so readers need practical ideas for evaluating and improving practice operations. The article is relevant to anyone managing the business side of a healthcare organization.

Article Sections

1. Exercise Healthy Coding Practices

   Discusses the importance of coding compliance, documentation review, and periodic evaluation of coding and billing processes.

2. Keep an Eye on Cash Collections

   Covers collection workflow concerns during economic stress, including patient balances and front-end payment processes.

3. Market Your Practice from the Inside Out

   Focuses on patient experience, staff communication, and retention as part of practice marketing.

4. Add Ancillary Services

   Introduces the idea of evaluating additional service lines and their operational fit for a practice.

5. Negotiate Insurance Savings

   Addresses insurance-cost management through shopping, consolidation, and other general savings approaches.

6. Reduce Supply Costs Through Group Purchasing

   Describes cost-control opportunities available through group purchasing arrangements for routine practice purchases.

7. Learn How Much Your Practice is Worth

   Covers practice valuation as a planning tool for ownership transitions and other business events.

8. Consider Outsourcing

   Discusses delegating selected administrative functions to outside providers to manage fixed overhead.