Insufficient cash flow is one of the most common problems a physician’s office suffers from. It is, therefore, vital that a practitioner assesses the system from time to time to ensure proper functioning. While this can be accomplished by filling out a questionnaire with the physician to determine areas where improvement is needed, it will be more practical to seek a clerk’s assistance as he/she is more closely associated with the financial aspects of the office.
Some tips that can help improve collections are briefly outlined below.
Monitor the Collection’s Efficiency
Every month, the effectiveness with which the office is collecting charges should be measured. This can be accomplished by calculating the net collection percentage and the coll...