Top Challenges in Practice Management

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Top Challenges in Practice Management
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Introduction

• As a healthcare provider, it is difficult to
  manage a successful medical practice without
  practice management challenges. Physicians face
  some practice challenges. Let us discuss briefly.

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Administrative burdens

• Administrative burdens are the most common
  challenges in physician practice management.
  Insurance companies require paperwork
  (documentation) for claim submission. For that,
  Physician spends more time on paperwork, not on
  primary care. It affects the patient-physician
  relationship and also unnecessarily disrupts the
  delivery of care. By using the EHR for
  documentation, it saves the physician a great
  deal of time and keeps the practice set-up
  organized. 

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Patient Satisfaction

• Physicians want patient satisfaction that
  determines the practice growth and sustainability
  based on the quality of service rendered. If they
  are in health problems, they dont want to spend
  more time in the waiting room. In such a case,
  less waiting time would be appreciated. By the
  way, it is important that every practice keeps
  the patient satisfaction score high.

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Payer Contracts

• Physicians should focus on the best
  contracts/plans by payers. It helps them to
  improve revenue from other services. It also
  enhances and creates a value proposition based on
  the following criteria. Such as,
• Patient volume
• Location
• Specialty
• And local availability of services

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Payers dictating healthcare

• Medicare (National Health Insurance Program in
  the US) audits the doctors to ensure the
  following things.
• They are doing everything correctly.
• Getting proper reimbursement for their service.
• High penalties are charged for errors and
  fraudulent activities including not providing
  quality care.

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About MGSI

• MGSI is the leading Revenue Cycle Management
  company in Florida, US. Our company is an A
  rated medical billing company with the Better
  Business Bureau.
• It is HIPAA compliant, ensuring high levels of
  security to patient information.
• We have experienced medical billing
  professionals.
• We provide medical billing and coding
  services, physician practice management services, 
  AR follows up, healthcare contract
  management, insurance eligibility verification,
  and denial management services, etc. 

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Contact US

• For any enquires,
• Call us 877-896-6474
• Visit us www.mgsionline.com to become partner
  with us!

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