How NOT to be a Networking Numskull
What is networking? Are you going to meet a strange group of people, often in a strange place, to somehow get something you think will be of benefit. If you fit this definition in any way you are a Networking Numskull. So what about these people who go to 'networking' meetings.If they go, they introduce themselves and hand out their business cards and collect cards from others. Most of these cards are soon lost or tossed, by both parties!Everyone knows they should network, but have you? Between making your goals for the company, family and other important things in your life there just doesn’t seem to be any time left for networking. I hear this statement from people every day.Would you make networking a hire priority if it meant an additional $700,000 in income?It has been shown that by not maintaining and building your network you will be leaving a significant amount of money on the table. More than 80% of all jobs come from networking.Stat

The Top 3 Ways To Make Money Online
The Top 3 Programs To Make Money OnlineSo, you are ready to start making money online? You must be or you wouldn’t be here. Believe it or not, I was in your same shoes a few months ago. Trying to find a way to make some extra cash. And you, like me, are probably hearing all the talk about people making lots of money online from home….right? Well that’s what drove me to the internet scouting for the best money-making programs available. And I will give you the top 3 here. I have bought and checked numerous other programs, but these 3 are by far the best and most rewarding you can get your hands on. You are probably in the same boat I was in. Pretty much working week to week…paycheck to paycheck. And I’m sure you are tired of it, just as I was. You want to make that extra money to maybe help pay some bills or maybe take the family out to eat more. Maybe you want to earn enough to quit the job you have now and work when you want .If that’s the case, then read on. I am goi

IT Marketing: Postcard Case Study
Sometimes you won't get the results you hoped for with your IT marketing. In this article you will learn about some common problems with postcards and how to avoid them.IT Marketing: The Case“I've sent out over 300 postcards offering general computer troubleshooting services, automated online data backup and wireless home networks. From a marketing standpoint, I purchased lists of area businesses broken down by revenue, credit rating, years in business and number of PCs. The wireless home networks went to homeowners that were over $500,000 in purchase price and the automated online data backup were to people that had a recent new business license. The general services list went out to accountants, lawyers, and small clinics“The results so far have been very disappointing, as I have not received a single phone call or response. Are these the wrong lists? Are postcards the wrong media? Do you have any suggestions in this area that may enhance response?”usion into price-performance equation of billing service yields more comprehensive financial picture and better decisions about billing service selection and its management. Such an approach also results in substantially higher remittance and better regulatory compliance. It is effective, however, only subject to billing performance guarantees and transparency.

Traditional sequence of management steps to rationalize medical practice billing and reduce its costs requires the physician to invest in processes, personnel, and technology:

1. Study your denials to eliminate errors by using claims-scrubbing software
2. Educate your front-end employees about the billing process and know how to be a part of it
3. Investigate tools for electronic submission and take advantage of technology
4. Set guidelines for which claims and which dollar amounts merit appeals
5. Provide patients with clear payment policies up-front

ROI in Claim Processing Technology

For illustration, consider a case of a three-office practice with 17 internists and a patient panel of 20,000, quite similar to Potomac Physician Associates (Donato, 2003), in Bethesda, MD, who in 2002 brought their claims submission and practice management services in-house. Assuming three FTE’s working the billing and using Vericle’s technology, the costs would be about $120,000 for personnel and $36,000 for technology. For referen

Traditional sequence of management steps to rationalize medical practice billing and reduce its costs requires the physician to invest in processes, personnel, and technology:

1. Study your denials to eliminate errors by using claims-scrubbing software
2. Educate your front-end employees about the billing process and know how to be a part of it
3. Investigate tools for electronic submission and take advantage of technology
4. Set guidelines for which claims and which dollar amounts merit appeals
5. Provide patients with clear payment policies up-front

ROI in Claim Processing Technology

For illustration, consider a case of a three-office practice with 17 internists and a patient panel of 20,000, quite similar to Potomac Physician Associates (Donato, 2003), in Bethesda, MD, who in 2002 brought their claims submission and practice management services in-house. Assuming three FTE’s working the billing and using Vericle’s technology, the costs would be about $120,000 for personnel and $36,000 for technology. For referen

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Investigate tools for electronic submission and take advantage of technology

Set guidelines for which claims and which dollar amounts merit appeals

Provide patients with clear payment policies up-front

ROI in Claim Processing Technology

For illustration, consider a case of a three-office practice with 17 internists and a patient panel of 20,000, quite similar to Potomac Physician Associates (Donato, 2003), in Bethesda, MD, who in 2002 brought their claims submission and practice management services in-house. Assuming three FTE’s working the billing and using Vericle’s technology, the costs would be about $120,000 for personnel and $36,000 for technology. For referen

7 internists and a patient panel of 20,000, quite similar to Potomac Physician Associates (Donato, 2003), in Bethesda, MD, who in 2002 brought their claims submission and practice management services in-house. Assuming three FTE’s working the billing and using Vericle’s technology, the costs would be about $120,000 for personnel and $36,000 for technology. For reference, Vericle technology performs comprehensive claim validation, patient demographics and eligibility test prior to visit, electronic claim submission, and comprehensive reporting for followup etc. Additionally, using Vericle technology, 98% of claims are now clean, adding further value for the investment in claims processing technology. In this case, billing costs add up to $156,000 annually. This is a significant accomplishment in terms of billing processing costs, because without advanced technology, the same practice may need at least seven FTE’s, at cost of $280,000.

Accordingly, the previous arrangement prior to installing the Vericle technology costs at least $292,000 (assuming 1/3 of cost for an alternative albeit inferior billing package). Thus, an investment of $36,000 in superior technology saved at least $136,000, which is obviously an impressive ROI on $36,000.

However, this approach does not account for the entire spectrum of costs associated with in-house billing approach. It ignores the total revenue aspect of the billing function, which is its ultimate purpose.

Quantification of Losses Caused By Insufficient Billing Process Quality

To receive a more comprehensive perspective, let us compute the total losses of this approach generated by uncollected payments. We will proceed by establishing a convenient baseline and figuring out a way to approximate the losses.

In our experience, the likelihood of payment sh