Wiki Revenue ideas????

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heatherg

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Hi Everyone,
I work for a multi-specialist practice (Internal, Pulmonary, General Surgery and Rheumatology). The practice is looking for new ideas to help bring in revenue. We currently do PFT's, MME's (Infusions in the future). Any testing/procedure ideas that can be done in an office by the above doctors? All ideas welcome!

Heather
 
Smoking cessation, Thoracentesis, Transitional Care management (for follow up of moderate/high risk patients recently discharged), Chronic Care Managment, (for ongoing care of patients with multiple or complicated respiratory chronic diseases). CMS has guidance on all of these billable services.
 
Additional Revenue

The area that Pam listed are great. The other thing I would look at is making sure that everything you are currently doing is actually being documented and billed for. Look at your expenses, are there any you can lower? Check the pricing with your suppliers, can you negotiate lower prices? There are many thing a practice can do to increase revenue beside increase services.
 
Cindy Akkerman said:
The area that Pam listed are great. The other thing I would look at is making sure that everything you are currently doing is actually being documented and billed for. Look at your expenses, are there any you can lower? Check the pricing with your suppliers, can you negotiate lower prices? There are many thing a practice can do to increase revenue beside increase services.
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I agree completely with Cindy. Our group performs many balloon ostial dialtion procedures, cochlear implants, hearing aid services, and home sleep studies. In order to negotiate more of a discount with our suppliers, we monitor these procedures on a monthly basis and report back to our suppliers requesting some type of discount. Some of our providers don't perform the balloon dilation procedure as often as another who just performed his 262nd surgery this year but altogether the numbers speak volumes. These numbers give providers negotiating leverage with their suppliers.
 
How long have you been billing Chronic Care Mgmt? We are a pulmonary office and 80% of our patients are being monitored and maintained for chronic care. Feedback on the overall process?
 
Increasing Up front collections

I would also suggest to review what you are billing, your AR could potentially not be receiving 100% reimbursement- and are you able to collect up front or have any way to produce your allowables by insurance contract, or produce a fee schedule? I do not want to post any content considered advertising in nature. Please feel free to contact me via email.

ashleigh@eobrush.com
 
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