Top Challenges in Practice Management

1. Top Challenges in Practice Management

2. Introduction • As a healthcare provider, it is difficult to manage a successful medical practice without practice management challenges. Physicians face some practice challenges. Let us discuss briefly.

3. Administrative burdens • Administrative burdens are the most common challenges in physician practice management. Insurance companies require paperwork (documentation) for claim submission. For that, Physician spends more time on paperwork, not on primary care. It affects the patient-physician relationship and also unnecessarily disrupts the delivery of care. By using the EHR for documentation, it saves the physician a great deal of time and keeps the practice set-up organized. 

4. Patient Satisfaction • Physicians want patient satisfaction that determines the practice growth and sustainability based on the quality of service rendered. If they are in health problems, they don’t want to spend more time in the waiting room. In such a case, less waiting time would be appreciated. By the way, it is important that every practice keeps the patient satisfaction score high.

5. Payer Contracts • Physicians should focus on the best contracts/plans by payers. It helps them to improve revenue from other services. It also enhances and creates a value proposition based on the following criteria. Such as, • Patient volume • Location • Specialty • And local availability of services

6. Payers dictating healthcare • Medicare (National Health Insurance Program in the US) audits the doctors to ensure the following things. • They are doing everything correctly. • Getting proper reimbursement for their service. • High penalties are charged for errors and fraudulent activities including not providing quality care.

7. About MGSI • MGSI is the leading Revenue Cycle Management company in Florida, US. Our company is an A+ rated medical billing company with the Better Business Bureau. • It is HIPAA compliant, ensuring high levels of security to patient information. • We have experienced medical billing professionals. • We provide medical billing and coding services, physician practice management services, AR follows up, healthcare contract management, insurance eligibility verification, and denial management services, etc. 

8. Contact US For any enquires, Call us: 877-896-6474 Visit us: www.mgsionline.com to become partner with us!