There are very few things when starting a new practice that we would identify as “easy”, the only thing truly easy about a new medical practice, is how easily you can screw up and be working for a hospital or large group again. Our hope with this article is to review some “easy”, yet effective ways to mitigate your risk and increase your chances of real, long-term success.
It’s unfortunate but true that most physicians spend more time picking out their waiting room furniture than they do deciding on their name. Here is some guidance when it comes to selecting the best name of your new medical practice.
Ever have a conversation with someone who starts spouting off acronyms or terms and you have to pretend you know what they’re actually saying or risk looking like an idiot. Well, before Google, most of us were there a lot more often than we’d like to admit. We’ve put together this helpful article on credentialing […]
Our comprehensive practice start up guide and checklist are available for free to anyone considering starting a new practice. These resources will provide you with a roadmap and timeline to get your practice started on a firm foundation.
As we all know, selecting the right location for your new medical practice is critical to your success and long-term growth. We’ve literally opened hundreds of medical practices over the years and while most have been successful, there have been a few occasions where the practice has failed after a couple years. We are happy to provide this comprehensive location analysis to help you select the best location for your new practice.
CAQH is ubiquitous in the medical field these days but there are still a lot of misconceptions about what it is and what it does. This article will answer all of your questions about why, when, how and what as it relates to CAQH.
The insurance credentialing process is what each provider or facility must go through in order to become a participating provider with a particular insurance company. The goal of the insurance credentialing process is to become in-network and prevent your patients from having claims go towards their out-of-network deductible.
In this article, we define some of the costs of opening a medical practice. Whether it’s what to spend on equipment or selecting the right billing/EHR vendor, we cover what to expect in terms of cost.
How long should you give yourself to start your new practice? We answer it here. Before beginning, we recommend setting up your practice as a professional limited liability company(PLLC) that is taxed as an S corp. This offers you the most protection as an entity and prevents double taxation on dividends.
It’s important for you to know how much you’ll be paid for the services you’re providing. Many people get confused by their billing system because it will show a charge amount that’s much higher than the actual allowed amount.