With todays medical environment so reliant on complicated insurance company regulations and intricate billing procedures, many physicians are looking for niche medical practices that will allow them to maintain their income standards while decreasing their paperwork at the same time. One such niche is a cash only medical practice, which is basically a medical office that does not maintain contracts with insurance companies and instead requires...more
In order to be successful with your business, you must have an online presence. It's important to know how to market your business online for free. Free ways, along with paid methods are both a necessity in order to get some sales and clients coming to you instead of your competition. With these tips, you will know how to market your business online and keep those advertising dollars in your pocket.There are many free ways to choose...more
Initially, many physicians may be excited about the thought of severing their ties with insurance companies once and for all, forgoing the piles of paperwork that go with insurance contracts and patient billing as you begin a cash only medical practice. But while it is tempting to imagine a medical practice that accepts only cash, this type of niche medical practice is not feasible for every position or every location. Before you cease your contracts with insurance companies and open up a cash only medical practice, it is vital that every doctor complete research into this type of office. Most doctors also find that they will need to continue to accept insurance claims for some time while they make the transition to cash pay, and they may even need to work part-time in another medical practice or clinic in order to maintain their income while they build a cash only clientele.Can you be successful in your location?Some communities are much more ideal for a cash only medical practice than others. If your office serves an affluent community you may have an easier time building a clientele of cash pay patients; wealthier patients may be willing to convert to cash pay even if they have...more
In business spheres, there remain many myths. Particularly when we think of small businesses, there are many things and beliefs which are not actually true. People feel small businesses do not need strategic planning. But in reality at micro levels the resources are smaller and the competition is fierce. Hence they need better business strategy...more
In todays scenario almost each wages based person is having somehow appalling credit past. Actually, no one wants to bear a shocking praise record but due to todays economical circumstances many people get this type of record. But it is wrong to imagine that while having this problem you cant take any loan plan to overcome any fiscal harm. UK...more
While many people assume that physicians today earn substantial incomes and enjoy large periods of leisure time, the reality is that most doctors put in long workdays and end up relinquishing a large portion of their fees to insurance companies and patient billing services. Negotiating prices and fees with insurance companies may mean that a doctor is asked to perform their work for less money, in addition to begin burdened with immense mountains of paperwork. A typical physician will see between 25 and 35 patients per day in an effort to simply pay staff, coordinate with insurance companies and cover their office overhead. Many doctors begin to wonder if there is a better way to run their medical practice; and the truth is that there is another option: a cash only medical practice. Unlike physicians who develop relationships and establish contracts with insurance companies, a cash only medical practice necessitates limited paperwork and can provide patients and physicians with some of the following benefits:More time with each patient: Because physicians will not have to pack their schedules with as many patients as they can in order to meet their overhead costs, they are able to...more
In todays healthcare environment, much of the overhead of medical practices is spent by doctors who must hire office staff to keep up with the amount of paperwork necessary to file insurance claims and complete patient billing. Frustration with the...more
On the outset, a cash only medical practice would seem to be the ideal business environment for a savvy physician: no insurance companies to set pricing structures and necessitate pre-qualifying standards; no mountains of claims to process; the...more
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