There is nothing wrong with calling health care a right, and there is nothing wrong with calling it a business, but, in the real world, it simply can’t be both. Let’s face it. Doctors run small businesses, but, in general, they are not businesspeople. What medical schools don’t prepare doctors for is the “business of medicine”.
You must run your practice like a business to continue to provide the best care possible for your patients and to ensure long-term practice success.
The COVID-19 pandemic has undeniably impacted your healthcare practice. It’s important to find healthcare practice management strategies to transition into a future that adapts to life after COVID-19.
As the owner of a business you should have a thorough understanding of its payer revenue. Conduct a periodic review with staff to discuss the current state and needed improvements. Negotiating a managed care contract is one of the most important business moves an independent physician can make. Ineffective payer contract management is devastating to any practice (business), large or small.
We have assembled a team of ex-payer and provider group executives to help navigate the complexities of managed care contracting and negotiations for you. Our CodeToolz Contract Analyzer is an all-in-one payer contract management solution. We strategically and proactively analyze payer contracts and fee schedules, ensuring you receive maximum compensation from payers in your market. We handle it all for you so you can focus on what you do best.