Revenue Recipe https://revenuerecipe.com Helping Texas physician practices significantly increase revenue, patient satisfaction, and more! Sat, 28 Mar 2020 15:19:57 +0000 en-US hourly 1 New COVID-19 ICD-10 Code Now Effective on April 1, 2020 https://revenuerecipe.com/covid-19-icd-10-code-now-effective-on-april1/ Sat, 28 Mar 2020 14:53:33 +0000 https://revenuerecipe.com/?p=2492 ICD-10 Update Summary

Updates to the ICD-10 code set normally occur annually and become effective on October 1st. Due to “COVID-19 being declared a pandemic by the World Health Organization” and “the urgent need to capture the reporting of this condition in our nation’s claims and surveillance data”, the CDC has announced that the official effective date of the new diagnosis code “U07.1, COVID-19” will be moved up to April 1, 2020.  According to the CDC, “this off-cycle change is unprecedented” and is being done via an exception found “under the National Emergencies Act Section 201 and 301”.

Due to the fluidity of the circumstances, there may be further changes or updated guidance on the use of this code, however, interim coding guidance can be found on this CDC page.

At the time of writing, the exact language of changes becoming effective can be found in this document.

ICD-10 EMR Updates

Be sure to update your EMR’s ICD-10 library, applicable code sets, and favorites to include the code for increased efficiency. Be sure not to submit the new code for dates of service prior to the effective date unless instructed to by a specific payer. Most EMR’s allow you to set an effective date which helps to prevent accidentally doing so and the resulting denials.

If you need assistance in adding the new code to your practice’s Electronic Medical Records (EMR) / Electronic Practice Management (EPM) system, please don’t hesitate to contact us for a quote. It is usually quick and therefore inexpensive, in most systems.

Denial and Rejection Monitoring

While payers who require ICD-10 codes, should be prepared for and able to accept the new code immediately, it’s not uncommon to run into clearinghouse or payer-specific issues just after a change. Because of this, it’s extremely important to closely monitor and ensure payers are correctly processing claims containing new codes.

Additional COVID-19 Coding Resources

AHIMA and AHA FAQ on ICD-10-CM Coding for COVID-19

AAPC – Coronavirus: What Every Medical Coder Needs to Know

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The Truth About Magical Claim Denials https://revenuerecipe.com/the-truth-about-magical-claim-denials/ Sat, 15 Feb 2020 14:00:24 +0000 https://revenuerecipe.com/?p=2397 This article is pending peer review and will be available in the next few days. Please check back shortly or follow us on social media for notification of its release.

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Patient Volume Declining? Don’t Overlook These 5 Things https://revenuerecipe.com/patient-volume-declining-dont-overlook-these/ Tue, 11 Feb 2020 14:00:00 +0000 https://revenuerecipe.com/?p=2378 Is your physician practice’s schedule a bit lighter than you’d like? This article examines some of the top overlooked areas that can cause physician practices to lose patients and damage the overall patient volume. The goal is to help inspire practices that may have lost their way and refresh those who want to stay “on their toes”.

This is part 1 of 2, which focuses on the areas relating to scheduling and the patient experience. Part 2 will focus on reputation, relationships, and referrals. Let’s dive in!

It’s OK, I understand you’re busy! Here’s a summary:
  • Patients continue to become accustomed to increasing levels of convenience in their lives.
  • Over 68% of patients want to schedule appointments and communicate with their doctor online. It can not only keep patients happy, but also make offices more efficient.
  • Calls should be answered quickly, with minimal wait, and not have to leave a message.
  • Minimize wait time for appointments, with same or next day appointments being the ideal.
  • Having reminder calls are a start, but are not what most patients want and are not the most effective method.
  • Effective and accurate return visit and recall processes ensure patients return to care at the recommended intervals.
  • Stagnation or complacency can destroy a practice, so develop a strong culture that encourages growth and continuous improvement, to ensure long-term success.
Cartoon image of convenience store

The Importance of Convenience

Most of us would agree that Americans love convenience. From fast food to online shopping with items shipped right to our doors, we love it. When fast food became too inconvenient, an app was created so it could be brought right to us. As we become accustomed to this level of convenience, it shouldn’t be a surprise when patients start to expect the same from their healthcare providers.

A commonly overlooked and highly undervalued area is that of patient convenience. Many practices simply make it too inconvenient for patients to schedule an appointment. Meanwhile, there are several healthcare startups offering a variety of different apps and telemedicine services. Retail healthcare continues to grow, and some unexpected specialties are predicted to be a part of it (ex. Oncology). Traditional physician practices who fail to evolve may see their patient population poached and the bottom line erode in the near future.

Practices can utilize the “Golden Rule” as a rough guide when determining if an area is not patient-centric. For example, if you personally would not want to wait on hold for 5 minutes, it’s a reasonable assumption that at least some patients may not want to either. While convenience is highly subjective, the more objections eliminated, the more likely patients are to schedule.

Computer, laptop, tablet, smartphone

Not Using Patient-Facing Technology

When considering the extent that we utilize and rely on technology in our everyday lives, is it surprising that consumers would expect it? It is truly amazing how much technology has changed in the past few years and the rate which it gains general acceptance. Not that long ago the idea of ordering things online was high-tech. Since then, we’ve had the smartphone app revolution, and most recently have been introduced to ordering on smart watches and voice activated virtual assistants. While some providers have invested in technology heavily, even in 2020 we have some without a basic website.

A 2019 study by Accenture shows a significantly increasing patient demand for electronic communication with their physician’s office (ex. scheduling, portal, messaging, and lab results). When participants were asked if the capability of booking/changing/cancelling appointments would “increase your likelihood of choosing that provider“, 68% indicated it made them “more likely” or higher. Of these responses, “Much more likely” ranged from 40% for millennials to 18% for the silent generation.

A properly implemented, well designed technology solution should increase the overall efficiency of the practice. These savings can be utilized to provide more phone coverage, decrease staffing expenses, or focused on areas with much greater financial impact for the practice.

While these are excellent tools, they are not just something that can be purchased and forgotten about. The physicians and staff must be trained, it must be incorporated into workflows and utilized consistently throughout the day, and patients need to be encouraged to utilize it. The setup must be done correctly and all applicable features utilized to maximize the benefit.

Historically some practices have cited cost and interfacing difficulties as roadblocks, however there are now more third-party options than ever before. In the worst-case scenario, there are standalone products available that do not require a full integration with the EMR. It’s still possible to gain many of the benefits despite many technological limitations faced.

Practices that do not use patient-facing technology will likely find themselves competing for smaller and smaller slices of the pie. Consider implementing technology as a goal for this year.

Sketch of receptionist on the phone with adjacent text of "Sorry ma'am the reception area is full of patients and it's just me here."

Neglecting the Phones

Regardless whether a practice has implemented technology solutions, it is still extremely important to be mindful of the phones. These calls are often more time sensitive than requests received from other communication routes, such as clinical concerns and referring providers trying to send patients. When urgently seeking assistance, it’s only normal to be even less patient. While we hope that they call back later, the truth is that it is not always the case.

Established patients may opt to forgo an appointment altogether or try utilizing a retail medical clinic, urgent care, or emergency room. Apps and telemedicine will likely soon be on that list as well. While missing a few visits may not seem important, these same patients may just like the convenience and not come back permanently.

A good goal for many practices may be: answering calls within 20 seconds, minimizing the hold time, and having none go to voicemail (during business hours). Unfortunately, many practices find it difficult to reach anywhere near this. Most phones in physician practices are actually very sophisticated and just not configured to their fullest potential. Most have the ability to provide detailed information that can be used to gain insight into the performance of a practice and identify areas for opportunity.

Due to the vast differences between practices, what works well in one practice may make the situation worse in another. If this is an area of concern, it may be worthwhile considering a consultant that understands both the phone system and physician practice workflows in order to suggest changes while minimizing impact. They will also be able to help leveraging some of the other advanced features in the phone system to enable staff to manage calls more efficiently.

Calendar with a day circled and the word doctor adjacent

First Available Appointment Isn’t Soon Enough

The topic of first availability is often a sensitive subject. When an established patient has a concern that they believe needs urgent attention, failing to accommodate can make some patients feel they are not valued. As with the previous topics, these too may forgo an appointment or seek more convenient care options.

With new patients, while some may find an appointment two weeks away to be perfectly acceptable, others may be adamant that tomorrow is too far away. When a patient thinks they can potentially be seen sooner, it’s not uncommon for them to “shop around”. While this may not sound too bad, some practices inadvertently turn away a very significant amount of patient volume each month.

When asking physicians about their first availability, I frequently hear that they would be willing to see someone that same day. Then, minutes later, hear patients told something else by the staff. Typically, it doesn’t take much more than asking a few questions or observing those patient interactions to hear what is really being conveyed. Whether from a communication gap, training opportunity, process problem, or something else, these scenarios can often be resolved quickly with fairly drastic results.

While it won’t be possible to accommodate every patient, there are often opportunities to “tweak” the physician’s schedule and associated workflows in order to strategically increase availability. In addition to those tweaks, some basic strategies utilized by practices are:

  • Reserving specific slots – dedicated to these time-sensitive appointment types each day. Allow staff to begin scheduling patients from the wait list into those slots at a certain point in the day.
  • Seeing them as a walk-in – the patient can be notified that although the schedule is extremely full, if they don’t mind waiting a bit, they can come in to fill out paperwork and will be brought back as soon as an opportunity opens up.
  • Having a wait list – while they don’t solve the underlying problems, they do help the practice to quickly fill last minute cancellations and enable some patients to be seen sooner.

A frequently heard complaint from staff is being scared to double book or add on patients after being told to “use their best judgment” and the results not been as the physician expected. Often, staff actually prefer having a written policy/guide, because it provides straightforward guidance on handling these situations.

Did you know, certain payers in Texas (especially HMO’s), have explicit access to care time-frames required of contracted providers? Many require providers to do certain things if they are ever unable to meet these. Depending on specialty and reason for visit, the time-frames can be sooner than you may think, so it’s important to be aware of them.

Reminders & Return Visits & Recalls

Equally important to getting the initial appointments made are ensuring that they and future appointments are kept. Many practices struggle with these as they are very time consuming. However, they are essential to maintaining a practice’s patient volume.

These areas are also highly impacted by the previously discussed ones. For example, if staff is already struggling to keep up with the phones, the last thing we would want to do is direct a large amount of patient reminders to be sent at that time. Conversely, by actively managing the processes, the practice can plan for the patient volume ahead of time and strategically spread the appointments out or push them towards ideal days of the week.

The word reminder styled like it was made with a rubber stamp

Reminders

Appointment reminders are a tool that’s been repeatedly shown to reduce no-show rates. While these won’t eliminate the issue completely, for practices that are not part of the 88% currently utilizing them, now may be a good time to consider it. While reminders can’t ensure patients keep their appointments, they increase the likelihood of keeping the appointment and maximize the amount of advanced notice when cancelling. This gives practices additional time to attempt to fill the slot.

If staff is currently placing reminder calls manually, adding the ability to have text messaging (SMS) and email incorporated, may be beneficial. Many recent studies show not only do patients prefer text messages and email to phone calls, they also result in lower no-show rates. Several sources suggest that two or even three+ specifically time reminders are significantly more effective than a single reminder. There is also an argument to be made for utilizing a combination of voice, text, and email to ensure receipt.

Practices should ensure patients are aware of the practice’s cancellation policy to further encourage keeping scheduled appointments. This is not to suggest that practices should or should not charge a fee, just that patients be made aware of how many hours’ notice that they should provide if unable to attend.

Recalls & Returns

In most specialties, there are three common scenarios where patients are asked to come back in to the office (and frequently do not). These are:

  • Return for treatment based on imaging, lab work, or outside records.
  • Follow-up on acute problems and conditions
  • Routine preventive care (such as annual wellness visits, monitoring of chronic conditions, or monitoring of high-risk patients)

Having organized processes in place to ensure these patients return at the appropriate times is not just good for the patients’ well-being, but helps to ensure a steady patient volume. Some best practices may include things like:

  • Ensuring patients have an appointment for their next visit prior to leaving the office.
  • Ensuring the appropriate Return to Care (RTC) times are recorded in the chart, ideally in a way that reports can be run to identify anyone that’s non-compliant.
  • Incorporating a mixture of technology and people into the processes to maximize efficiency while limiting the chance of human error. This could be as simple as a couple automated attempts followed by human ones.
  • If at all possible, structure these processes so that at least a second person (ex. supervisor, manager, nurse, or physician (as appropriate)) must sign-off before a patient can be removed from lists or a chart marked inactive, this allows a second set of eyes to confirm all appropriate efforts have been made.

Unfortunately, many EMRs are not capable of or not configured in a way that makes tracking these easy. They often make it very easy for a single wrong click to cause a patient to “fall off the radar” completely unnoticed. A carefully designed process will help to ensure patients return as appropriate.

Moving Forward in scrabble tiles on a marble surface

Preventing Future Recurrence

Some general tips that may help a practice to proactively address many of these areas are:

  • Ensuring the practice maintains a patient-centric focus will help prevent it from veering off course.
  • Don’t allow the practice to become “content” with the status quo. Processes should be routinely reviewed to ensure effectiveness and identify opportunities for improvement.
  • Keeping in mind, the majority of patients that have a poor experience will not say anything to the practice, however, will often tell friends, family, a social network, or a review site all about it. The reach of such, being far further than just that one patient.
  • Expecting the unexpected. In addition to the normal day-to-day scenarios, processes should also address the other scenarios that may occur. This will help ensure the intended outcomes.
  • Regularly reviewing practice performance data. It’s essential to have effective high-level reports and/or dashboards to efficiently and effectively monitor practice performance at a glance, so that course corrections can be made nimbly.
  • Building a great team in a practice culture that encourages creative problem solving, empowerment, and collaboration can pay off in many ways, including having a full team of people that look out for the well-being of the practice, rather than just one or two.
  • Considering the overall benefit of bringing in a professional to help diagnose problems quickly and minimize the overall financial impact they may cause.

Be sure to follow us on Facebook, Twitter, or LinkedIn for part two of this article which will look at reputation, relationships, and referrals!

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The Secret Ingredient for a Successful Physician Practice https://revenuerecipe.com/the-secret-ingredient-for-a-successful-physician-practice/ Thu, 28 Nov 2019 05:48:45 +0000 https://RevenueRecipe.com/?p=2186 They say to start strong, so for my first blog post ever, I am going to give away the key to success. I assure you, this is not a gimmick or hoax. I believe this is that one elusive thing that can make or break a physician practice. While there are certainly other key factors that are prerequisites of success, I believe the overall success, mediocrity, or failure of a practice boils hinges on this one.

Here it is ladies and gentlemen, the secret to success… Employees who CARE

Many practices realize that employees are important to the equation. Some try to have potlucks and happy hours to build engagement. Though this is taken slightly out of context, the adage alcohol won’t fix your problems holds true. Having a happy hour won’t make your employees care. If the physicians and managers show that they care and are engaged during a happy hour, it may help change the culture. In this case, it’s not the happy hour itself changing the culture.

Before everyone stops reading and dismisses me for not saying that training, reports, or policies are the determinants, here are three real world scenarios I frequently see to support this assertion:

  1. Most would agree that cash collections (co-pays, coinsurance, balances, etc.) are very important for success. I’ve seen numerous practices attempt to implement hardcore policies, monitoring, writing employees up, etc. for failing to collect, but the practices with the highest collection rates (comparatively), are those where the front office employee doesn’t feel obligated to collect for fear of reprimand. They do so because they are personally committed to the provider and practice (they care). Regardless of policies and reports, employees who want to get away with things know the tricks to do so. So when that front office employee is having a “blah” day or doesn’t “feel like” dealing with a difficult patient and know no one is looking; only one type of employee will consistently collect; because they care. Similarly, consider when a patient presents with new insurance and the front office can’t get it to verify, while having a line of patients. The front office person who doesn’t care will often just hope the information was correct and leave it up to billing if it is denied. The front office who cares will take further action almost every time. This is because they care that a denial affects the practice and the patient.
  2. A medical biller who cares spots a trend while working denials and if they can’t figure it out, they take the time and initiative to try to figure out the problem or bring it to a supervisor. Employees that don’t care will repeatedly “work” the same claim repeatedly. This often goes unseen by leadership because from a distance the employee is on the phone with a payer and appears to be productive. However, at the end of the day, it’s just an appearance. In addition, very few practices have detailed/accurate reporting in place to accurately measure and compare productivity. Most practices also trust their employees and are therefore quick to write off money, when the employee who cares would have fought for it.
  3. Similar to the first two examples, a medical assistant who doesn’t care may frequently “forget” to call back patients with lab results or call in prescriptions. They also frequently appear insincere or disengaged to patients. These are very evident to patients and can severely damage the reputation of a practice (and rightfully so.) A medical assistant who cares can leave such a positive impression with a patient that it can completely reverse/negate even a less than favorable experience with the physician.
  4. Bonus example: If a manager or physician doesn’t care, most of the employees are likely not to care; it’s downhill from there.

Again, this is not the only factor that will determine the success of a practice, but without this secret ingredient, at best success will be mediocre and short-lived.

If you’d like to learn more, please stay tuned as I’ll surely be posting more detailed and actionable articles on the subject, including building and fostering a culture of caring.

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What areas do you serve? https://revenuerecipe.com/what-areas-do-you-serve/ Mon, 25 Nov 2019 03:57:22 +0000 https://RevenueRecipe.com/?p=2199 Based in the Austin, Texas, we provide services to the Austin, College Station-Bryan, Dallas-Fort Worth, Houston, Killeen-Temple, San Antonio-New Braunfels, and Waco metropolitan areas (and everywhere in between).

We also offer phone and video conferencing options, for certain services, to clients nationwide. These are excellent, cost effective options, for appropriate services such as custom reporting, web design, financial analysis, and other similar services that don’t require an in office presence

A few of our most intensive services may be limited to Austin and surrounding areas (ex. Bastrop, Bee Cave, Burnet, Cedar Park, Dripping Springs, Georgetown, Hutto, Kyle, Lakeway, Leander, Lockhart, Luling, Manor, Marble Falls, Pflugerville, Rockdale, Round Rock, San Marcos). This is to ensure we are able to provide the necessary amount of resources needed to ensure the success of these services.

Please don’t hesitate to contact us and we would be happy to discuss discuss availability for travel and remote projects or any other questions you may have.

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Can you help on an as needed (PRN) basis? https://revenuerecipe.com/can-you-help-as-needed-prn/ Fri, 22 Nov 2019 22:34:45 +0000 https://RevenueRecipe.com/?p=2168 We can definitely help your practice on an as needed (PRN) basis. In fact, many practices find having a resource for assistance as needed to be extremely beneficial.

With the complexity of healthcare and regulatory and payer requirements changing on a daily basis, it’s nearly impossible to keep up with everything while managing day to day functions. Even if your physician practice is generally running smoothly, it can be extremely beneficial to have a resource you can contact, as needed.

We frequently hear practices tell us about experiences where they were forced to guess or resort to searching the internet for answers to complex questions. While the majority don’t have issues, we have seen this turn into large-scale mistakes, costing practices hundreds of thousands to millions of dollars.

Having a resource established can save you significant time and resources.

We do not have any minimum monthly usage requirements. It truly is an as needed service. This is just one of the ways we truly understand the needs of physician practices.

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Can I afford your services? https://revenuerecipe.com/can-i-afford-your-services/ Thu, 21 Nov 2019 22:09:34 +0000 https://RevenueRecipe.com/?p=2137 Due to the vast differences between each physician practice, the complexities of the industry, and our flexible cost structures, it is impossible to provide cost estimates online. Despite this, please read on and we’ll show you how we are affordable for most physician practices.

We offer flexible price structures based on the needs of your practice. In some cases this may be a traditional hourly or daily rate, while in others a flat fee for the project or contigency-based.

We require no minimum amount of time and in fact encourage potential partners to establish a relationship for any PRN needs. Learn more about PRN.

Which category best describes your situation?

Everything is broken! I can’t cover my staff’s payroll. I could really use some extra revenue about now!

While this situation may seem daunting, the good news is we can help!

Typically, in this scenario we temporarily focus more time on the “low-hanging fruit”, which are those easier and quicker to solve problems which can affect revenue quickly. Once things stabilize, we start to shift focus to activities that typically result in a greater long-term improvement.

The goal is for short-term revenue increases to help to offset the added expenses.

Things are going OK, but could be much better.

In this situation, we can focus efforts on fixing larger problems quickly in order to maximize revenue. This is the case of a little investment goes a heck of a long way!

Overall things are going well and I just need help with a specific problem / project.

Our flexible pricing structure is perfect for this situation. You pay for just what you need and nothing more. We can even support your practice for it’s PRN needs.

It may sound like a cliche, but the truth is you probably can’t afford not to.

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What kind of results can I expect? https://revenuerecipe.com/what-kind-of-results-can-i-expect/ Thu, 21 Nov 2019 06:03:11 +0000 https://RevenueRecipe.com/?p=2132 As much as we would love to be able to make specific promises, it isn’t possible to do so for a number of practical and legal reasons.

To use a medical analogy, let’s consider the example of providing weight loss counseling to patients. Could you guarantee a blanket specific numeric result? Why isn’t this feasible?

What we can tell you is that we believe we have the best recipe. If your practice is committed to learning how to cook it, utilizing high quality ingredients, and cares about the quality of food served to your customers (patients), we think you’ll be happy with the results!

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Why partner with someone local? https://revenuerecipe.com/why-partner-with-someone-local/ Thu, 21 Nov 2019 06:02:53 +0000 https://RevenueRecipe.com/?p=2134 A medical analogy to answer this could be telemedicine. While it’s highly convenient for patients and may be considered better than nothing, there are certain types of conditions that many physicians believe are more accurately diagnosed and/or better treated in-person.

Being local means being able to provide a high-level diagnostic ability and in-person support when appropriate, with the flexibility to pick up the phone when not. It doesn’t matter if you are in need of help for an hour, a day, a week, a month, or a year, you don’t have to pay for travel expenses or have to compromise on less than ideal remote support when you really wish you had someone on-site.

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Consulting vs. Mentoring https://revenuerecipe.com/consulting-vs-mentoring/ Thu, 21 Nov 2019 06:01:01 +0000 https://RevenueRecipe.com/?p=2128 While we may be considered consultants in the literal sense of the word, the term doesn’t describe our mission and the way we operate. Our approach is more like a mentor, tutor, or a big brother / sister, depending on your needs.

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