The role of Medical Practice Manager carries with it myriad responsibilities. Depending on the size of the practice, their duties vary, but a survey of the landscape shows commonality in personality traits:
- High integrity
- High emotional IQ
- Forthright, but caring
The top 10 challenges they face . . .
- Revenue – Accounts receivable, insurance and driving new business
- Regulation compliance
- Benefits and payroll
- Policies and procedures
- Division of labor and financial duties
- Vendor relations
- Doc’s projects
And . . . What collection agency secrets they needed to know to recover lost profit:
- Collection agencies remind patients to pay their outstanding debts so you don’t have to, which saves time and energy, allowing for focus on patient care.
- Via diplomatic collection calls and written demands, a sense of urgency is achieved, while customer satisfaction is not sacrificed.
- Collection agencies increase cash flow for your business . . . no more dead weight on the books.
- A good collection agency accelerates payment, before the account is past due.
- Collection agencies reduce internal costs, not just human resources but also related expenses, such as phone calls, paper and postage.
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