Welcome to this insightful episode, where we dive into the strategies that can significantly increase revenue for medical practices. Katharina sits down with Don Self, a seasoned consultant with 39 years of experience, to discuss how physicians can optimize their billing practices to generate at least $100,000 in additional yearly income—guaranteed or no charge. Don’s approach combines financial expertise with a focus on improving patient care.

In this episode, Don and Katharina explore:

• Key Challenges in Billing & Insurance: Learn how Don identifies inefficiencies in billing processes and ensures insurance companies fulfill their obligations, uncovering missed opportunities for revenue.
• Prioritizing Revenue Optimization: Don walks through vital steps such as reviewing the assignment of benefits forms and analyzing coding frequency reports to identify underutilized revenue streams.
• Common Billing Mistakes: Discover how under-coding and improper documentation can lead to hundreds of thousands in lost revenue and why accurate patient visit records are crucial for proper reimbursement.
• Sustainable Revenue Practices & Staff Education: Don shares strategies for educating staff on correct billing and coding practices, ensuring sustainable revenue growth, and preventing future losses.
• Maximizing Preventive Services: With only 12% of eligible Medicare patients receiving annual wellness visits (AWVs), Don provides tools for simplifying the process and integrating it with routine visits to boost revenue.
• Opportunities in Chronic Care & Remote Monitoring: Don discusses tools like the Ankle-Brachial Index (ABI) machine to detect early vascular issues, as well as how chronic care and remote monitoring can become valuable, underused revenue streams.
• Reducing Physician Burnout: Learn how offloading time-consuming tasks to third-party services can reduce burnout while maintaining high-quality care and revenue.
• The Decline of Independent Practices: Don reflects on the pressures faced by independent practices and why he believes autonomy is vital for patient-centered care.
• A Success Story in Practice Restructuring: Don shares the powerful success story of a physician who revitalized their practice by focusing on Medicare patients and reducing hospital visits, leading to improved financial stability and work-life balance.

Links and Resources:

• Don Self

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