Tip:
Do you have your staff running monthly or bi-weekly reports on your financials so that you have a clear picture of where you stand? If not, you are likely not maximizing cash flow and, in some cases collections. Two of the more important reports to run are aging reports on patient billing and insurance claims. The latter is especially important because if unpaid claims lay dormant for too long you may miss the opportunity to collect the funds from the insurance company, as most have set time periods for claim payments. To read the entire article on billing and insurance best practices, click here.
