Practice Management 09-12

Instead of making a “Resolution List” for 2010, we should be thinking about how to end this year and about reviewing the items we weren’t able to accomplish in 2009. Many accounting firms do “year end planning” with their clients so the client is able to plan for investments, compensation, taxes and capital gains/losses for their business. This is what we need to do for our medical practices, review them from an operational and management perspective.

We, at O’Sullivan Consulting Group, use checklists for our clients for just about every project. It assists in keeping the specialist, and therefore the project, on task. Here is a checklist for ending the year in a way to inspire positive planning for 2010:

Requested the carrier’s fees for our top twenty codes?
Reviewed all insurance contracts for renewal dates? Remember HB125?
Logged inventory of all software and hardware for the practice?
Reviewed licenses for software needed for updates?
Reviewed all business relationships for Business Associate Agreements?
Ordered all CPT, ICD-9 and specialty books for billing?
Reviewed all practice forms for coding updates and accuracy of the practice?
Reviewed the options of PQRI so the practice is ready on January 1, 2010?
Reviewed how to begin ePrescribing on January 1, 2010?
Planned for any payouts at the end of the year (bonuses, unused sick time)?
Reviewed the employee handbook for any changes needed?
Planned to obtain the 2010 tax forms for new employees?
Scheduled staff meetings in advance so they are in the physician schedules?
Reviewed all credentialing information for the physicians so it is not a surprise “lapse in coverage” which occurs?
Reviewed marketing and web information for updates and make sure all new physicians/providers are included?

Hope this list helps to trigger some thoughts and we all begin the new year with some checks on our checklist.

On behalf of O’Sullivan Consulting Group and Premier Billing Network, we thank all of our readers, clients, friends and business associates for the support and referrals throughout 2009 and years past. In January, O’Sullivan Consulting Group will begin our fifteenth year in business. Happy Holidays to everyone.

MedManagement Monthly

Practice Management