Management Tools for Private Practice:

Gaining Control and Improving Profitability           

John G. Wallace Jr., PT, MS, OCS

                                           

 

Learner Based Objectives.  Upon completion of this program participants will be able to:

  1. Identify the common reasons that claims for service do not go out as “clean.”
  2. Correct common problems with CPT coding of patient treatment and associated patient documentation.
  3. Describe the Resource Based Relative Value Scale as it relates to valuing therapy services and treatment time.
  4. Identify the basic components of Medicare compliance for establishing medical necessity.
  5. Appropriately apply the principles of Medicare’s Correct Coding Initiative, ABNs and NEMBs to their billing practices.
  6. Identify and implement management statistics that will improve overall payments and profitability in their practices.
  7. Analyze accounts receivable and overall financial performance of their practices.
  8. Define the basic components of a payer contract.
  9. Describe potential problem areas within payer contracts.
  10. Identify the costs and potential profit in payer contracts.
  11. Establish proper internal controls at the front desk for managing mail, deposits and payment posting.
  12. Use the Internet to facilitate front office functions.
  13. Understand the advantages and disadvantages of representative practice management software solutions.