ITEMS IN FPM ON TOPIC:
Financial management, general
Argues that physicians profiled in cover story about charging patients for "free" services are inadvertently conducting experiments in the future of the health care system.
The article describes how to conduct a unit cost analysis, which takes into account all of the costs associated with providing a particular service (e.g., an adult physical) and determine how much it costs your practice to provide that service. This information can be useful for developing budgets, for negotiating rates with health insurance plans and for strategic planning.
The author, a practice administrator, identifies reasons practices find it difficult to ask patients to pay at the time services are rendered and provides detailed instructions for improving collection rates.
This article describes how a practice can create an effective practice budget by appropriately tracking expenses and comparing them to benchmark data.
Points out that the Nicoletti and Borglum articles in this issue are connected in that they both come from practice consultants who have formed apparently similar views of what constitutes a good practice.
This article describes 10 reasons that family practices lose money and offers prevention tips for each reason.
The article provides step-by-step instructions for evaluating health plan contracts and determining which ones to keep and which ones to drop.
Installing an EMR system in a practice not only includes the initial purchase price, but ongoing costs as well. The author identifies what the continuing costs of an EMR are and provides a tool practices can use to calculate their own costs.
The author provides step-by-step instructions for creating balance sheets and budgets and explains how to use them to manage a practice.
The article details how one practice implemented the principle of "working smarter, not harder" to optimize quality, efficiency and revenue.