anything less than total integration of the two systems could be a disaster waiting to happen. start your research now and find a system that will take you into the future, especially with any new clients you bring on. and, as part of your due diligence, make sure there is a way to import the data from your current system into the new system (at least the patient demographics). then, begin to educate your current clients on why they need to start using an ehr, if they are not already, and why they might need to use a system that is fully integrated with your billing system. look for a system that has a way to electronically communicate with insurance company databases. You need one that checks for eligibility and automatically imports the patient data directly from the insurance company’s database to create new patient charts. this will save you hours of data input and will help you Whether you realize it or not, your competition in this industry is not just other medical billing companies. The practice itself is your biggest competition. keep employee costs under control. it will also prevent you from submitting claims that are sure to be rejected because the patient was not eligible for the service and it will keep the practice from spending time seeing patients that insurances will not cover. this will increase your revenue for that practice and will eliminate a large number of claim rejections as well. Keep up with changes in the industry. i can predict the success you are going to have in your business – and in life in general – if you will tell me just two things: the people you associate with and the books (and periodicals) that you read. do not get bogged down in the details of your billing business. You need to set aside time to attend industry conferences at least once a year and to read industry newsletters and books. the person who does not read is no better off than the person who cannot read, so set aside time each week to read about our industry and keep up with the constant changes. change is what life itself is based on, and if you are willing to change along with the industry, you and your clients will prosper. FEATURE storY Do not assume you will have your current clients forever. You won’t. things change in medical practices: staff turnover, new policies and procedures, new government rules and regulations, competition, updated technology, and the marketplace itself. all these things can cause you to lose a client from time to time. You must always be marketing. Whether you realize it or not, your competition in this industry is not just other medical billing companies. the practice itself is your biggest competition. all it would take is for a new office manager to come into one of your practices and decide that they would rather not outsource their billing: they think they can do it themselves more efficiently and more economically. You must keep reselling your clients on your efficiencies and on your cost savings versus doing the billing themselves internally. Provide them with revenue reports that delineate what percentage of billed dollars (expected) are actually being collected. show them you are the expert in this industry by producing and providing to them a professional newsletter with articles that show that you keep up with the changes in the industry. hbma has a newsletter you can purchase and tailor with your company logo (www.hbma.org). take the practice administrator (or the doctor) to lunch from time to time and show them printed reports that illustrate the revenue collections from both insurance providers and patients. hold “lunch ‘n learns” on a regular basis with your clients to bring them up to date on what is happening in the medical industry. Position yourself as the expert. People want to do business with “the expert” in every field. When you buy a home, you do not want the new real estate agent: you want the guy or gal who has sold 100+ homes. When you look for a cPa, you do not want one who just hung out his or her shingle: you search for one who pays less than double digits of their own taxes and has a number of clients the journal of the healthcare billing and management association 23
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