The Smarter Physician: Conquering Your Practice's Billing and Reimbursement available in Hardcover
- Pub. Date:
- Medical Group Management Association (MGMA)
Achieving success in a medical practice environment has a lot to do with the way your physicians operate. Physicians spend years learning to be competent clinicians only to discover when they begin practicing medicine that their success depends equally on business competence.
The Smarter Physician Series: Conquering Your Practice's Billing and Reimbursement answers questions such as: How do we get paid for our services? How can we examine financial statements like the pros? What exactly does 'pay for performance' mean? How do you measure profit and loss? What are the different physician compensation models?
These are just some of the matters that physicians and administrators must grapple with - and understand - in order to operate a successful medical practice with healthy patients, staff and the community at large.
Table of Contents
List of Tables xi
List of Figures xiii
From Paperwork to Payment 1
The Revenue Cycle 3
The Private Insurance System 13
How Medicare Works 27
Getting Paid, Part I: Introduction to Coding and the Global Surgery Package 43
Getting Paid, Part II: The Resource-Based Relative Value Scale, Medicare Physician Fee Schedule, and Other Payment Mechanisms 57
A Guide to Accounting and Finance 65
Financial Statements: What They Are and What They Tell Us 67
Using Financial Statements to Make Decisions 81
Measuring Profit and Loss: The Roles of Cost and Volume Measurements 97
Physician Compensation 107
Models, Methods, and Philosophies 109
Pay for Performance: A Work in Progress 129
About the Author 145
About the Contributors 147