Are you thinking about opening up your own medical practice? Managing a business can be just as stressful as working the floor. Don’t worry! The experts at ClinicAnywhere have the tools to help you get started. Learn more.

Don’t Wait

Commit to your decision. Once you decide you want to own your own practice, take the first step. You can never be fully ready, but with help from the experts at ClinicAnywhere, you can be more prepared.

It is okay to be a little nervous and excited, but not stressed or overwhelmed! Owning your own practice is a big responsibility; however, it is also very exciting. You have such great potential ahead of you. Unlike when you work for a hospital, organization, or another physician, when you own your own practice, all revenue is yours. You are not required to turn over 50% or more of it to your employer.

Take the First Steps

So, you’ve made the decision to open your own practice. You’ve committed to the idea. Where do you begin? First, consider location. Neither you nor your patients should have to commute hours to get to your office. Find a centrally located office that is near a hospital. This way, if you have patients that need to be referred to a hospital for tests or procedural work, they don’t have far to drive.

After you’ve found the perfect office, customize your practice. What sort of atmosphere do you want to provide for your patients? Purchase the right decor to give the right feel. How many patients do you plan to see a day? This will determine what your hours look like and how many employees you will need on staff.

Make sure that you comply with all HIPAA regulations, and that you have all of the right forms on hand for patients to sign to ensure their safety and your own.

Make Your Dream a Reality

Not only will you be a medical clinician, you will also be a businessperson. There are many things you need to consider to drive your business toward success. From marketing to sales, there are aspects of your business that will need tending to daily. With help from the right revenue cycle management software, you won’t have to worry about a thing.

The right revenue cycle management partner will help you improve poor cash flow and profitability. They will help reduce claims errors and rejections from insurance companies. By shortening A/R to below 30 days, the right company can help you streamline your collections process and monitor all finances.

Founded and managed by physicians, MediTouch by HealthFusion is a fully-integrated EHR and billing software used by ClinicAnywhere to help integrate all your practice data into one easily accessible database. With the right revenue cycle management partner, your practice can get started on the right foot today! Learn more about what you can do with ClinicAnywhere at your side. Contact our experts today.

Health maintenance is going to be an integral part of healthcare going forward. For providers who get proactive with population health management, the Patient Protection and Affordable Act offers performance incentives. For better patient outcomes, providers will receive more pay. Learn more with ClinicAnywhere.

What is Population Health Management?

Population Health Management is the aggregation of patient information across multiple sources in an effort to improve health outcomes. Population Health Management typically involves monitoring individuals in a group to identify group health outcomes. Though it focuses on higher risk patients, health management also addresses preventative care of each patient.

In an effort to improve medication management and reduce the cost of patient care, care management is a vital component of Population Health Management. The best programs use financial, operational, and clinical information from the practice to report analytics which can be used to improve patient care, effectiveness, and efficiency.

Challenges, Objectives, Solutions

Population Health Management can present challenges for your practice if your staff is not prepared. You must be able to identify the gaps in patient care, analyze solution options, implement your strategy, and then measure your outcomes. An automated system can make your health management more attainable and sustainable.

The main objective of Population Health Management is to keep the patient population as healthy as possible. While providing quality healthcare, the hope is that the need for expensive intervening procedures, tests, and treatments will be minimized. However, in order to reach this goal efficiently, the use of technology and cloud-based software is required.

There are not enough providers nor organizations to be able to care continuously for every patient. With the use of technology, many routine tasks are covered by software. Not only does this improve efficiency, it also proves to be more cost effective.

In order for Population Health Management to work, providers must maintain contact with their patients and encourage them to invest in self-maintenance and preventative care. Simultaneously, providers must observe higher risk patients and help keep them from developing further complications. Through integrated patient information, such as health risk assessments and medication reports, providers can improve patient engagement and clinical care.

Improve Your Practice’s Health Management with ClinicAnywhere

ClinicAnywhere software makes it very simple to comply with the initiatives to ask patients about smoking and alcohol use. It’s helping doctors have this conversation and be proactive with reaching out to patients like diabetics for preventative appointments. Our cloud-based software provides practices with the ability to access information on any device at any time. Invest in integrated document management at ClinicAnywhere. Learn more today. Contact our professionals.

Revenue cycle management is a unique process for each practice. Many are looking to reduce the number of patient rejections. Some are looking to compensate for lost revenue due to underpaid claims. Others are looking to decrease the number of days claims remain in accounts receivable. Here are what we at ClinicAnywhere have found to be the best practices for revenue cycle management.

Verify Insurance Eligibility

The first thing you should do when your patient checks in is find out if they are eligible for insurance. This will benefit both you and the patient. You will be able to verify their insurance coverage and thus tell them how much you will be collecting in the form of their co-payment. This will keep you hassle-free in the future when working with your client and with their insurance company.

Follow Up in a Timely Manner

If you have claims that come back underpaid or denied completely, follow up immediately! The longer you wait, the lower your chances are at receiving compensation for your work. If you follow up immediately, you have a better chance of figuring out why you were not paid in full or why your claim was rejected while still leaving yourself time to correct the issue.

Submit Daily Claims

The process of submitting daily claims is vital to your practice’s cash flow. Not only can you keep claims from becoming troublesome, you can focus on the daily details of your care. Submitting once a week delays your payment up to four days. This delay in funds may significantly impact your cycle.

To keep from getting overwhelmed, create a process in which claims are corrected, well-documented, and accurate. More than 90 days, and the claim is no longer valid. So even if you can’t submit daily, certainly work as quickly as you can to submit all claims as you collect them.

Create Monthly Reports

In order to reach ultimate transparency with your practice’s finances, you must report monthly on incoming and outgoing cash flows. By doing so, you will give yourself more data to work with over the year to then observe patterns and analyze billing issues.

Select the Right Revenue Cycle Management Partner

At ClinicAnywhere, we focus on creating a versatile, sure, and easy-to-use system for your practice. Our clients pay a fixed percentage of their collections. All of our cloud-based software and RCM costs are bundled into that fixed percentage, and this makes it easy for the practice to predict and document costs. Contact us today to learn more about ClinicAnywhere, your ultimate partner in revenue cycle management.

Are you experiencing issues with your current EHR software? Are you looking to integrate all data into one easily accessed database? Is your staff constantly bogged down with insurance and invoice questions from patients? It might be time to replace your revenue cycle management solution. Find out more with ClinicAnywhere.

#1 Online Access to Information

Do your patients have the ability to book appointments and pay bills online?

Enable flexibility within your practice. Work with your staff to answer patient questions about invoices and insurance quickly. You should be able to develop and implement new workflows as quickly as you come up with them. The online convenience of cloud-based software gives your practice and your patients the ability to access information anywhere at any time, even on mobile devices.

#2 The Need for Integrated Document Management

With the right solution, like the easy-to-use Patient Portal from ClinicAnywhere, your practice can streamline practice processes from a compliance standpoint as well as gain access to integrated document management. The ability to share information across care setting enables you as the provider to document more charges and thus compensate for more revenue.  

#3 Effective and Efficient Claims Process

Your patients and your office staff should know which services are covered by insurance, in real time. Being able to verify insurance eligibility reduces risk of denied claims and lost revenue.

Many practices use third party companies to help submit claims. With the right EHR program, your practice can experience a more efficient and less expensive claims process and work directly with payers.

#4 Unable to Manage Growth

As your practice advances, you must be able to manage that growth. The right system can help you manage even a multi-clinic practice. If your current software is unable to build or grow, or if your current program does not allow for customization, it may be time to replace your revenue cycle management solution.

Invest in the Right Solution Today!

Choose the right revenue cycle management partner today. Allow ClinicAnywhere to handle the stress. Focus on clinical care and improving patient service. We will handle the rest. Our experts and technology can help your practice see an improvement in both efficiency and effectiveness. Minimize loss today. Replace your outdated revenue cycle management solution with ClinicAnywhere’s cloud-based software.

With technology that is easy to use, give your practice the ability to create intuitive reports, gain access to integrated document management, and manage your practice from any device. Get started today. Contact the passionate professionals at ClinicAnywhere.

What is Meaningful Use?

Meaningful Use is simply the use of EHR software in a meaningful way. Using EHR technology, Meaningful Use ensures improved quality of healthcare through the electronic exchange of health information. The purpose of Meaningful Use is to show that providers are using their certified EHR programs in ways that can be measured both in quantity and quality.

As a part of Meaningful Use, providers must certify each year. The Center of Medicare & Medicaid Services has established the EHR Incentive Program. This program has developed three phases, each of which is designed to help providers implement Meaningful Use and thus improve the quality and safety of our healthcare system. Because Medicare requires all providers and hospitals to meet Meaningful Use requirements, those who do not abide by regulations will be subjected to financial penalties. In fact, Meaningful Use can penalize 1% per year up to 5% on Medicare.

Meaningful Use also awards incentives for using EHR technology and following criteria set in place by Medicare and Medicaid. Providers who care for Medicare and Medicaid patients may qualify for Meaningful Use and therefore for financial incentives. To find out if your practice is eligible, contact a ClinicAnywhere professional today.

CMS updates to the requirements have determined measures to meet each Meaningful Use objective. These measures must be met in order to avoid penalty. For example, Meaningful Use Stage One objectives include health information exchange. Health information exchange is what occurs when your patient is referred to another provider. In compliance with Meaningful Use, your practice must provide a summary care record.

So how can your practice keep up with Meaningful Use measures? Invest in the right software.

How Can ClinicAnywhere Help?

ClinicAnywhere’s system provides the dashboards and monitoring capabilities your practice needs to see where you stand on Meaningful Use measures at all times. ClinicAnywhere’s solution to your practice’s organizational needs facilitates an improved workflow, which gives you the opportunity to offer more personalized care. Our cloud-based software allows you to work in compliance with Meaningful Use, meet all requirements, and benefit from financial incentives.

Don’t lose any more revenue! Choose the right revenue cycle management partner today. Contact the experts at ClinicAnywhere to take advantage of our versatile and secure software and over 12 years of experience as industry leaders.

An integral part of your practice’s revenue cycle involves successful billing and collections processes. Without both, your practice suffers from lost revenue and gaps in the cycle. Learn more about why collections processes have changed and how your practice can keep up with ClinicAnywhere.

Once Upon a Time…

In the past, practices used to send a statement once. After no response, that practice may have sent another statement. After the second statement, most practices would give up on collecting from that patient. The more often that happened, the more revenue was lost in the process. At the time, insurance paid around 95% of the expense. However, that is no longer the case. Patients are having to pay more of the expense, so the stakes are higher.

Time to Implement a New Process

At 60 days, if your practice does not hear back from a patient, there should be a process in place for making sure that revenue is collected. Some practices have resorted to hiring an individual to specifically handle billing and collections. However, most find that the job is confusing and overwhelming. With new policies in place, billings and collections must be handled with meticulous care and an attention to very specific rules and regulations. Your practice must comply with the policies laid out by legislation and by the insurance companies themselves in order to receive appropriate compensation. 

How Hiring a Third-Party Collections Company Can Help

For this reason, it is incredibly beneficial for your office to consider a third-party collection company like ClinicAnywhere. Choosing the right revenue cycle management partner requires that your practice consider billing processes and evaluate gaps. Ask the right questions, and choose a partner that can meet your practice’s specific needs.

ClinicAnywhere specializes in revenue cycle management. The experts at ClinicAnywhere have a clear understanding of all healthcare rules and regulations as well as insurance policies. With years of experience in the field, Mike Jones and Darryl Hendrix, CEO and CFO respectively, and Casey Cottam, COO, have built a business that provides versatile, secure, and easy-to-use cloud-based solutions to your practice’s needs. Learn more. Contact the passionate professionals at ClinicAnywhere today!

Is your practice losing revenue due to too many days in accounts receivable? ClinicAnywhere has the experience and knowledge you need to turn your practice around. Don’t lose another dollar. Check out these tips on how to improve your medical account performance and better manage your revenue cycle.

Medical Account Performance

It is understood that your monthly accounts receivable should never be more than 1.5x your monthly charges. When you conduct your practice analysis, you may ask why the practice is not collecting more accounts receivable. There are multiple ways to measure your performance. Using these, you may find the issue.

One of the most common ways to measure your medical accounts receivable performance is to measure the number of days it takes to collect the payments. You can calculate the number of AR days by dividing the number of charges over the number of days.

Calculate Days in AR

Let’s say you have $100,000 in total charges over the last six months, which is a span of 182 days. Your average daily revenue is equal to approximately $550. Your total AR divided by that number gives you the number of days. So, if your total AR is $80,000, the days in accounts receivable is 109. That means it is taking your practice an average of 109 days to collect payment.

Because it takes about fourteen days for most insurance companies to pay after receiving a claim, your practice should ideally strive for thirty to sixty days in AR. Patient copays only make up about 20% of practice revenue. So if you haven’t been making revenue cycle management a priority, you could be losing hundreds of thousands of dollars over the year.

The best way to make sure no revenue is lost is to implement an effective revenue management plan. Define payment rules for patients. Consider cash flow and claim rejection solutions. Hire a third party medical billing company to help ensure accuracy and efficiency.

ClinicAnywhere Can Help!

ClinicAnywhere has been helping clients improve data management, boost profitability, and shorten AR days for years. We have experienced experts waiting to get your practice back on track. Don’t wait! Revenue is on the line. Contact ClinicAnywhere today to get started with effective revenue cycle management.

Incorrect coding is a bigger issue than most practices realize. Due to the implementation of new policies like ICD-10 and new codes, it can be easy to code incorrectly. Beyond coding issues, there are many reasons that claims go unpaid.

#1 Patient Deductible

If a patient changes insurance plans, you will need to make sure that you are networked in the new plan and get preauthorization to be able to serve that patient. If your patient has an unmet deductible, you can also get denied.

For example, if your patient’s co-pay is $20 but they have not yet paid their deductible, you will not receive even $20 from the insurance company. Your claim will get denied.

#2 Waiting Time

If you wait to file your taxes, you could incur issues with reimbursement. Most insurance companies allow practices 90 days to a year. Some only allow 30 days. The waiting period begins the day the service is made. Any claims filed after the allotted time are rejected.

Why are your claims taking so long to file? The culprits could be disorganization and a lack of time. Unless you have a third party revenue management company, you may find that your staff is not equipped or does not have the time to get all of your claims filed in a timely manner.

#3 Primary Care Provider Referral

Sometimes insurance companies require a referral from your patient’s PCP before any services can be rendered. Most insurance companies also have a strict policy regarding how many services can be rendered in one day. For example, for behavioral health and group therapy, only one service a day is allowed.

ClinicAnywhere Can Help

Reduce your paperwork and get the reimbursement you deserve from insurance companies. ClinicAnywhere is a Platinum Partner with HealthFusion®. We have the revenue cycle management software to help get your practice out of the red tape and back to the clinic. Contact ClinicAnywhere today to learn more.