Episode 16: Taking Care of the People Who Take Care of the Money

03/14/23 • 11 min

There are many things that help to improve retention and one of them is money. I’ve seen many groups who have bonuses, but while all are well intended, many are set up in a way that are difficult to administer, or even counterproductive.
I encourage our clients to set up performance-based incentive compensation programs so that they are paying their teams additional compensation that is completely based on how well the team performs. There is nothing subjective about it – it’s all easily measurable, and this is key. Join me for our newest episode of the Medical Money Matters podcast as we discuss how to easily design effective incentive compensation systems that will leave you happy to pay bonuses to highly performing staff!
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Previous Episode

Episode 15: Who Am I Taking Care Of? Why Payer Mix Matters

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So the notion of picking and choosing patients based on their insurance coverage might be met with a little resistance, or frustration or maybe even righteous indignation! Bear with me. I’m guessing you went into medicine to care for ALL patients, regardless of gender, race, ethnicity or any other differentiating factor. Thank you.

It is important to understand that while all patients are created equally, not all insurance payers are created equally. Some pay above your cost, and some pay below it. In Episode 9 of Medical Money Matters, we talked about your cost structure per RVU and in today's episode, we’ll drill down on that a bit more, so that you can understand clearly how you are being reimbursed and what it means to your practice overall, especially if you are in private practice.
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Want more content? Find sample job descriptions, financial tools, templates and much more: www.MedicalMoneyMattersPodcast.com

Next Episode

Episode 17: The Front Office - Where the Revenue Cycle Begins

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In thinking about our Revenue Cycle as a whole, it truly begins at the front desk. When your new patient calls for the first time, and the new patient registration process begins, you are setting yourself up for success or failure, depending on how you’ve set up your front desk.

How well have you trained your front office on proper data collection? Do they understand how crucial their work is, and do they feel appreciated for doing a good job?

Your front desk is the face of the clinic, they are your ambassadors, if you will. They are in charge of first impressions, in many cases, both on the phone and when the patient arrives at the clinic in person. And, it’s a tough job – many times they’re expected to answer the phones as well, which can easily put a person into overload. And then we depend on them to do a great deal of data entry with hyper accuracy for that clean claim. On top of all of this, they get to deal with unappreciative or rude patients, and we have a tendency to make this an entry level job, with very little training.

No wonder our clean claims rates aren’t a lot higher. This is not a recipe for success.

If you're now finding yourself feeling a little sheepish about the fact that your front desk matches that description, don't despair. Most clinics do. Join me for this episode, where we'll talk all about how to set your front office up for success.
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Visit Jill’s company, Health e Practices’ website: https://healtheps.com/
Subscribe to our newsletter, Health e Connections: http://21978609.hs-sites.com/newletter-subscriber
Want more content? Find sample job descriptions, financial tools, templates and much more: www.MedicalMoneyMattersPodcast.com