When I started out in practice, the biggest risk I faced was a potential malpractice suit. Now 32 years later, the biggest threat to my practice is an audit. Often, audits are triggered by patients who are not unhappy with your clinical care, but your billing or collection practices. Recoupment is BIG business.
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Hopefully, you have a compliance program established in your office. A compliance manual collecting dust at the front desk is NOT a compliance program, in case you were wondering. Practices without compliance programs in place that treat Medicare, Medicaid or other federally insured patients are more likely to miss errors and potentially violate rules and regulations. The good news is that you don’t have to be the one to implement the program. In fact, many consultants recommend that you designate a trusted employee to act as the compliance officer for your practice.
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More and more providers are feeling the effects of high deductible health plans when it comes to reimbursement and patient collections. Although the Affordable Care Act has lowered uninsured rates in the U.S. from 15.7% in 2009 to 9.1% in 2015[1], the number of patients delaying needed healthcare continues to rise as more of the cost-sharing has shifted from government and third-party payers back to the patient.
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Setting a reasonable fee schedule is key to the financial success of your practice. It should be simple to understand by patients and compliant with provider agreements and state and federal regulations.
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With the recent wildfires in the Northwest U.S. and the destruction left by hurricanes Harvey Irma and Maria, providers are left wondering how to maintain a compliant office while facing the wrath of Mother Nature. Every office should have a contingency plan to go into effect in the event of a natural disaster. Here are a few things you can do to stay safe and compliant in the face of catastrophe.
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While scanning my news feed this morning, a few alarming words caught my eye: “Opioids could kill nearly as many Americans in a decade as HIV/AIDS has killed since the epidemic began in the early 1980s.” Across America, people are talking about chiropractic as a safer alternative to opioid medication for pain relief, and, yet, I don’t think the magnitude of this opportunity has been realized by most doctors of chiropractic in this country.
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Fear of the unknown is a marketing problem in the profession. Patients who are living with chronic back and neck pain or plagued by migraines have such anxiety when it comes to the very thought of having their spines and necks “popped” that they will live a life of discomfort before entering our offices. As a profession, we need to be proactive in creating a calm and relaxing atmosphere.
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To keep premiums affordable, more families, like my close friends, have transitioned to high deductible insurance. In fact, the number of families that opted for high-deductible plans rose from 20% in 2014 to 29% in 2016, with deductibles so high that, short of having an appendectomy in 2017, it is unlikely they will meet their deductible this year. The average actual charges for a routine office visit billed in chiropractic offices across the country can be around $106. It is easy to understand why many patients never return after the initial visit or report-of-findings.
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