Here are ten recent articles outlining the best practices for improving profits at an orthopedic or spine practice.
1. 4 Technologies to Improve Orthopedic Practice Revenue Cycle Management. In the past few years, new practice management technology and software have been developed to help physician CEOs manage orthopedic practice revenue cycles and improve their practices' bottom lines. Software is available to help with the billing and coding process, credentialing, patient payment reviews and payor contracts. Dave Wold, CEO of Healthcare Information Services, explains four different types of software practices should invest in. "If the physician hasn't upgraded his or her practices' technology, there is a good chance he or she is leaving money on the table," says Mr. Wold.
Read more of "4 Technologies to Improve Orthopedic Practice Revenue Cycle Management."
2. Performing Complex Spine Surgery in an ASC: 5 Essential Business Considerations. Performing complex spine surgeries in an ASC provides both financial and quality of care benefits to the facility, its surgeons and, most importantly, to its patients. ASCs offer flexibility of scheduling, on-time starts, low infection rates, reduced costs and high overall satisfaction with patient outcomes. Hospitals who partner with ASCs are able to decompress their OR schedules when these highly technical elective surgeries are performed in the ASC setting. Here are five essential business considerations for performing complex spine surgeries in an ASC.
Read more of "Performing Complex Spine Surgery in an ASC: 5 Essential Business Considerations."
3. 4 Best Practices for Maintaining Profitability at Your Spine Center. Kathie Stewart, administrator at Cascade Spine Center in Tualatin, Ore., discusses four ways the spine center is working to maintain profitability despite declining reimbursements.
Read more of "4 Best Practices for Maintaining Profitability at Your Spine Center."
4. 7 Best Practices to Improve Efficiency in Physician Owned Orthopedic Practices. It takes a team of individuals skilled in business, customer service and orthopedic surgery in order to successfully and efficiently run a physician-owned orthopedic practice. The physician CEO must be able to juggle providing the best quality medical care to his or her patients while also ensuring quality business practices, which sometimes means outsourcing tasks or trusting others with practice responsibilities. Jay Nussbaum, CEO of Healthcare Watchdog, a medical billing and advocacy group with offices in New Jersey and California, offers seven tips on the best practices for efficiency in physician-owned practices.
Read more of "7 Best Practices to Improve Efficiency in Physician Owned Orthopedic Practices."
5. Orthopedic Surgery Call Coverage Payments: Understanding and Applying Survey Data. Statistics show orthopedic surgeons are paid for call coverage more than any other specialty. According to a 2009 Sullivan Cotter Survey, approximately three out of four hospitals, who report on-call payments to physicians, provide payments for orthopedic surgeons. Health systems struggling with what to pay these physicians can take some comfort in the fact that compensation survey data for this specialty has remained relatively stable for the past four years. The following outlines compensation survey data findings, along with valuation considerations, when determining if an orthopedic surgeon warrants compensation at the low-, mid- or high-end of survey data.
Read more of "Orthopedic Surgery Call Coverage Payments: Understanding and Applying Survey Data."
6. Maintaining Profitability and High Case Volume in an Orthopedic-Driven ASC: Q&A With Administrator Glenda Beasley From Kentucky Surgery Center. Administrator Glenda Beasley, RN, from Kentucky Surgery Center in Lexington, offers practical guidance on how to maintain profitability and high case volume in an orthopedics-driven ASC. Kentucky Surgery Center has performed more than 10,000 cases annually since 2007.
Read more of "Maintaining Profitability and High Case Volume in an Orthopedic-Driven ASC: Q&A With Administrator Glenda Beasley From Kentucky Surgery Center."
7. Two Steps for Improved Front Desk Collections. The best way to improve front-desk collections is preparation. If your front desk does not collect from the patient, while at the practice, the result will be decreased revenue and weaker cash flow, coupled with more work. Here are two steps to improve your front desk collections.
Read more of "Two Steps for Improved Front Desk Collections."
8. 3 Ways Spine Surgeons Can Increase Their Revenues. Kenneth Pettine, MD, is a board-certified spine surgeon and co-founder of Loveland, Colo.-based Rocky Mountain Associates in Orthopedic Medicine. As one of the busiest spine surgeons in the country, Dr. Pettine is familiar with how important productivity is to revenue generation. Here, he shares three ways spine surgeons can increase the revenue they generate.
Read more of "3 Ways Spine Surgeons Can Increase Their Revenues."
9. 3 Time and Cost Saving Techniques for Spine Surgery. The process for assessing and treating a patient's spinal pain is a long and expensive process. However, if physicians employ a few simple techniques to cut down on the time and expenses while still delivering great treatment outcomes, patient satisfaction will increase. Mark Flood, DO, of Celling Treatment Centers in Austin, Texas, discusses three ways he helps patients save time and money at all stages of the spinal surgery process.
Read more of "3 Time and Cost Saving Techniques for Spine Surgery."
10. 3 Tips for Marketing Orthopedic Practices. For orthopedic practices in many metropolitan areas, competition for the best physicians and the most patients can be fierce. This is why effective marketing practices are so important for facility directors to grasp. Lester Morales, executive director of Laser Spine Institute in Scottsdale, Ariz., offers three tips on best marketing practices for orthopedic practices.
Read more of "3 Tips for Marketing Orthopedic Practices."
1. 4 Technologies to Improve Orthopedic Practice Revenue Cycle Management. In the past few years, new practice management technology and software have been developed to help physician CEOs manage orthopedic practice revenue cycles and improve their practices' bottom lines. Software is available to help with the billing and coding process, credentialing, patient payment reviews and payor contracts. Dave Wold, CEO of Healthcare Information Services, explains four different types of software practices should invest in. "If the physician hasn't upgraded his or her practices' technology, there is a good chance he or she is leaving money on the table," says Mr. Wold.
Read more of "4 Technologies to Improve Orthopedic Practice Revenue Cycle Management."
2. Performing Complex Spine Surgery in an ASC: 5 Essential Business Considerations. Performing complex spine surgeries in an ASC provides both financial and quality of care benefits to the facility, its surgeons and, most importantly, to its patients. ASCs offer flexibility of scheduling, on-time starts, low infection rates, reduced costs and high overall satisfaction with patient outcomes. Hospitals who partner with ASCs are able to decompress their OR schedules when these highly technical elective surgeries are performed in the ASC setting. Here are five essential business considerations for performing complex spine surgeries in an ASC.
Read more of "Performing Complex Spine Surgery in an ASC: 5 Essential Business Considerations."
3. 4 Best Practices for Maintaining Profitability at Your Spine Center. Kathie Stewart, administrator at Cascade Spine Center in Tualatin, Ore., discusses four ways the spine center is working to maintain profitability despite declining reimbursements.
Read more of "4 Best Practices for Maintaining Profitability at Your Spine Center."
4. 7 Best Practices to Improve Efficiency in Physician Owned Orthopedic Practices. It takes a team of individuals skilled in business, customer service and orthopedic surgery in order to successfully and efficiently run a physician-owned orthopedic practice. The physician CEO must be able to juggle providing the best quality medical care to his or her patients while also ensuring quality business practices, which sometimes means outsourcing tasks or trusting others with practice responsibilities. Jay Nussbaum, CEO of Healthcare Watchdog, a medical billing and advocacy group with offices in New Jersey and California, offers seven tips on the best practices for efficiency in physician-owned practices.
Read more of "7 Best Practices to Improve Efficiency in Physician Owned Orthopedic Practices."
5. Orthopedic Surgery Call Coverage Payments: Understanding and Applying Survey Data. Statistics show orthopedic surgeons are paid for call coverage more than any other specialty. According to a 2009 Sullivan Cotter Survey, approximately three out of four hospitals, who report on-call payments to physicians, provide payments for orthopedic surgeons. Health systems struggling with what to pay these physicians can take some comfort in the fact that compensation survey data for this specialty has remained relatively stable for the past four years. The following outlines compensation survey data findings, along with valuation considerations, when determining if an orthopedic surgeon warrants compensation at the low-, mid- or high-end of survey data.
Read more of "Orthopedic Surgery Call Coverage Payments: Understanding and Applying Survey Data."
6. Maintaining Profitability and High Case Volume in an Orthopedic-Driven ASC: Q&A With Administrator Glenda Beasley From Kentucky Surgery Center. Administrator Glenda Beasley, RN, from Kentucky Surgery Center in Lexington, offers practical guidance on how to maintain profitability and high case volume in an orthopedics-driven ASC. Kentucky Surgery Center has performed more than 10,000 cases annually since 2007.
Read more of "Maintaining Profitability and High Case Volume in an Orthopedic-Driven ASC: Q&A With Administrator Glenda Beasley From Kentucky Surgery Center."
7. Two Steps for Improved Front Desk Collections. The best way to improve front-desk collections is preparation. If your front desk does not collect from the patient, while at the practice, the result will be decreased revenue and weaker cash flow, coupled with more work. Here are two steps to improve your front desk collections.
Read more of "Two Steps for Improved Front Desk Collections."
8. 3 Ways Spine Surgeons Can Increase Their Revenues. Kenneth Pettine, MD, is a board-certified spine surgeon and co-founder of Loveland, Colo.-based Rocky Mountain Associates in Orthopedic Medicine. As one of the busiest spine surgeons in the country, Dr. Pettine is familiar with how important productivity is to revenue generation. Here, he shares three ways spine surgeons can increase the revenue they generate.
Read more of "3 Ways Spine Surgeons Can Increase Their Revenues."
9. 3 Time and Cost Saving Techniques for Spine Surgery. The process for assessing and treating a patient's spinal pain is a long and expensive process. However, if physicians employ a few simple techniques to cut down on the time and expenses while still delivering great treatment outcomes, patient satisfaction will increase. Mark Flood, DO, of Celling Treatment Centers in Austin, Texas, discusses three ways he helps patients save time and money at all stages of the spinal surgery process.
Read more of "3 Time and Cost Saving Techniques for Spine Surgery."
10. 3 Tips for Marketing Orthopedic Practices. For orthopedic practices in many metropolitan areas, competition for the best physicians and the most patients can be fierce. This is why effective marketing practices are so important for facility directors to grasp. Lester Morales, executive director of Laser Spine Institute in Scottsdale, Ariz., offers three tips on best marketing practices for orthopedic practices.
Read more of "3 Tips for Marketing Orthopedic Practices."