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Practice management knowledge hub

Is your practice running as efficiently as possible? Discover tips and insights that can help streamline your practice management.

Roles of a medical office

Medical practice management, whether for a small office or a large one, requires the practice manager to deal with a tremendous variety of issues: administrative, legal, financial, technological and more. One minute, a practice manager can be interviewing a potential physician’s assistant (PA), and the next minute calling a plumber to fix a malfunctioning sink.

There can be a multitude of responsibilities involved in medical practice management, including:

  • Financial Management – Establishing and maintaining a budget and revenue cycle; monitoring and analyzing medical billing success and financial performance; negotiating contracts with payers
  • Business Operations – Developing a business and marketing plan; identifying required outside resources; managing the practice’s physical space; purchasing
  • Human Resources Management – Recruiting, hiring, training, and retaining providers and staff
  • Information Management – Acquiring and upgrading telephone and computer systems including software/services for clinical, billing, electronic health record (EHR) and financial management; securing patient data; reporting on practice compliance
  • Organizational Governance – Establishing legal structure of practice; integrating a corporate mission; establishing pay structure; fostering staff and clinical leaders
  • Patient Care Systems – Maximizing provider efficiency through effective workflow; establishing systems to keep patients informed, engaged and satisfied; establishing practice performance standards
  • Quality Management – Establishing and maintaining quality standards; monitoring clinical quality oversight; setting up processes and systems to enable participation in Pay-for-Performance (P4P) programs; ensuring that all licensing is current
  • Risk Management – Establishing procedures to ensure patient safety and to address emergencies, disasters and legal challenges; ensuring governmental compliance
Amid this potentially enormous scope of responsibility, one of the biggest and most important challenges in physician practice management is making sure the practice gets paid in a timely manner for the care its providers deliver. Efficient medical billing and payment entry are the backbone of the operation. The revenue must be there—regularly and dependably—in order to accomplish day-to-day operations, including paying that new PA and buying the new plumbing.
 

Because of the importance of this process in medical practice management, with incoming revenue enabling just about any level of growth and improvement, this Knowledge Hub puts a significant emphasis on ways to ensure your practice gets paid what it should, when it should.

1 “Prepare that Claim,” American Medical Association, http://www.slideshare.net/RajinikanthDhakshana/ama-prepare-that-claim-taking-an-active-approch-to-the-claims-management-revenue-cycle

2 “The Lifecycle of a Medical Claim: Identifying Practice Problems,” P. J. Cloud-Moulds, Physicians Practice, December 3, 2011, http://www.physicianspractice.com/blog/lifecycle-medical-claim-identifying-practice-problems.

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