https://youtu.be/HCJ8QDaIRC8?si=7WT4YaMbY01ymIMF An important aspect of managing a healthcare practice is deciding which payer sources to work with, particularly when it comes to insurance. The choice of insurance providers can significantly impact cash flow and financial planning. It is advisable to diversify the range of insurance providers...
https://youtu.be/eLdRJ1fRMCA?si=JAvxiRP1moTas39Y Expanding a healthcare practice is a natural progression for many successful businesses, often driven by the desire to reach new markets and serve a broader community. Many practices opt to expand into nearby states or regions, such as a Texas-based practice moving into Colorado, or...
https://youtu.be/-oRqn0Oprk4?si=__mEdq4jHyUwzVqh For healthcare professionals in private practice, staying informed about legislative changes is significant, especially when it comes to reimbursement rates and authorized billing codes. Legislative decisions directly impact the financial viability of practices and, in turn, the ability to provide quality care. Each state has...
The focus of many healthcare practices has evolved to include a significant emphasis on disability work and advocacy, and this shift is not just a professional decision but often a reflection of a deeper commitment to supporting families and individuals in accessing the resources they...
https://youtu.be/b_KcLu_wmuU?si=oVJptLivVL2bjvAZ Managing finances in a healthcare practice is important, especially when it comes to handling outstanding payments. When services rendered aren't immediately compensated, these unpaid amounts transition into what is known as Accounts Receivables (AR). AR can potentially be written off during tax season, but ideally,...
We are grateful for Michele, who provides personal insights into the misconceptions and advancements in autism treatment:"It's a very personal journey that I've had with autism awareness," Michele says. Her son, now 18, was diagnosed with autism at a young age. Reflecting on those early days,...
A CONVERSATION WITH DR SWANN What recommendations and advice can you provide clinicians, especially new ones, heading into tax day on April 15? https://youtu.be/-r2H8XKYy6Y?feature=shared "Tax season can be very scary for new practice owners because, for the first time, you're doing taxes in a different way. You're doing...
BEGIN ENROLMENTS BEFORE LEAVING YOUR EMPLOYER Practice Support can help clinicians who want to start their own practice by lessening the burden of overhead costs. We can begin enrolments while you’re still employed with your current employer, so when you’re ready to leave the practice to go...
Amid the COVID-19 pandemic, the government afforded additional protection to low-income families or those who qualify for Medicaid or Medicaid-like services. The government froze the reprocessing and eligibility for Medicaid, considered the needs of the citizens, and essentially said, "Everyone who's eligible for Medicaid now...
Dr. Swann answers five frequently asked questions on how medical practice costs can be saved by outsourcing your financial responsibilities and billing tasks to a professional service (such as Practice Support): 1) How can an external billing service help with legacy billing? As a billing service, this...