Top Challenges in Practice Management - PowerPoint PPT Presentation

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Top Challenges in Practice Management

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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. – PowerPoint PPT presentation

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Title: Top Challenges in Practice Management


1
Top Challenges in Practice Management
2
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.

3
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. 

4
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.

5
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

6
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.

7
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. 

8
Contact US
  • For any enquires,
  • Call us 877-896-6474
  • Visit us www.mgsionline.com to become partner
    with us!

9
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