would you do it? (start up a solo practice)

Home Practice Management would you do it? (start up a solo practice)

  • Avatar Kamban 
    Status: Physician
    Posts: 2256
    Joined: 08/01/2016
    Splash Refinancing Bonus

    I would want to try to keep billing in house…planning on having my spouse do it…some learning curve but I don’t think an outside company would go after claims and balances better

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    I’ve heard from a few solo PP docs that had better results when their spouses started doing the billing.

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    I wanted to mention it earlier on but was unsure of your marital status and whether the spouse had a good job that she/he might not want to leave.

    Prior to marriage I had a biller / front desk when I started solo practice. The biggest problem is that they wanted their paychecks and lived pay check to paycheck. They would rush through the billing and not bill for all the services and drugs provided. By the time I realized the mistake it was past the allowed amount of time by the insurance to redo the billing. They would hardly follow up on denials.

    I got tired of it and said to hell with it for the saying of “not employ the family”. It was my practice and I was bleeding money due to incompetence. After a year post marriage I made it clear that my wife will enter the charges and we had another person to go through the amount paid and follow up on denials. It has dramatically improved our collections, mainly by the billing. Nothing billed, nothing collected. I would not use a service for the 6% they charge. They collect the low hanging fruits and will not go after the smaller charges and denials ( my past employer used such a service for me and it was a disaster).

    Additional advantages of having billing in house is that they can sub for a front desk who has called in sick or on vacation. No need for temp or extra money for it. It is not that their billing work will be impaired. Believe me, work expands for the time provided and nothing is lost by cross coverage.

    Finally, open a PO Box and have the checks with EOB come to it and not to the office, and only you and your wife have the keys to it. I have witnessed numerous stories of office staff embezzling money and by the time one realizes it thousands of dollars are lost (a cardiologist lost $30K, embezzled by his office manager). Try and have insurances direct deposit to your bank, if available.

    Post here if you have any other questions.

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    Liked by Hank, jz, Zaphod

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