Here are three signs that it may be time for your Ambulatory Surgery Center to hire a Business Office Manager:
Increasing administrative workload: If physicians and other staff members are spending a significant amount of time on administrative tasks such as billing, coding, and insurance claims, it may be a sign that there is a need for a Business Office Manager to take on these responsibilities and allow other staff members to focus on providing patient care.
Financial challenges: If the practice is experiencing challenges with revenue cycle management, collections, or financial reporting, a Business Office Manager can help to manage financial records, implement billing and collections processes, and provide financial analysis and insights.
“We work with clients on a variety of accounting and financial issues,” says Dave Becker, VP of Client Account Services, “and our team regularly makes recommendations on staffing to maximize revenue and efficiency.”
Compliance and regulatory requirements: If the practice is struggling to keep up with compliance, credentialing, and regulatory requirements, a Business Office Manager can help to ensure that the practice is adhering to all relevant laws and regulations, including HIPAA and Medicare regulations.
Leading MedHQ’s outsourced accounting services, Dave and his team direct monthly financial statement compilations, and provide financial analysis and controller solutions for MedHQ’s surgical facility and outpatient healthcare clients.
If you are exploring cost-saving solutions for your physician practice or evaluating adding key positions to drive revenue and efficiency, click here to schedule a consultation with MedHQ’s accounting team.