BC Advantage - 2013 Issue 1
The Healthy Practice: Eight Tips to Maintain a Health Practice in a Challenging Environment
By Valora GurganiousConventional wisdom suggests that healthcare is "recession-proof," yet medical practices are as susceptible to economic cycles as other small businesses. There are ways, however, to maintain the health of your practice in light of declining revenues, growing accounts receivable, and tighter cash flows within the practice.The following eight tips may help you improve the health of your bottom line by increasing revenue and reducing costs in today's challenging healthcare environment.Exercise Healthy Coding PracticesCompliance is a very strong force in the healthcare industry today. Upon evaluation of medical records, it is common to find...
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