Status: OR **************************************************************************** PRACTICE GUARDIAN NEWS... ³The Internet & Practice Management." **************************************************************************** Free - Subscribe today Forward a copy to a friend or associate... Submit your www.association site Information today! Issue 10 - October 1, 1999 Now available Main Page http://www.practiceguardian.com Subscribe info@practiceguardian.com To unscribe to this newsletter please forward to consult@ytci.com and include "unscribe" in the text. This newsletter is freely circulated to the health care community. **************************************************** INDEX **************************************************** PRACTICE MANAGEMENT SITES ..........Health Info Corp ..........Health Leaders.Com TOP CHOICE REVIEW... NationalDialNet.Com PRACTICE TIPS .......Improve Cash Flow By Developing the Successful Financial Policy! .......Evaluating Your Accounts Receivable Performance! ASSOCIATION UPDATE .....Integrated Healthcare Association (IHA) Update RECOMMENDED NEWSLETTERS & PUBLICATIONS NATIONAL HEALTHCARE ASSOCIATIONS (A TO Z) EDITORIAL INFORMATION **************************************************** Practice Management Sites **************************************************** Health Info Corp http://www.healthinfoseek.com.  Health Info Corp is the leading provider of video-based medical information for medical practitioners and the general public.  Health Info develops proprietary video content by recording physician presentations at medical society meetings, grand rounds lectures, and creating an array of informational videotapes on medical diagnoses for the general public. Health Info operates a comprehensive e-health portal at www.healthinfoseek.com. This online service provides resources for both physicians and consumers and provides only the most credible content sources available. Our Internet presence at healthinfoseek.com consists of 18 program areas and is dedicated to providing the most comprehensive, reliable, and credible medical information to physicians and consumers in both text and video. Healthinfoseek.com is an e-Commerce site that provides their users with educational resources designed in easy to follow videotapes, books, and in text formats provided at no charge. At Healthinfoseek.com, users can, in both text and video, take charge of their health by educating themselves on an extensive listing of diseases, surgical procedures, and medications, share similar life experiences with others through our interactive Bulletin Boards, and ask their questions to physicians and surgeons from the Yale University School of Medicine.  Our strategic alliance with MediaSite provides the value added service of searchable video that allows our visitors to search, preview, and purchase the exact content they are seeking. Health Info constantly seeks to improve its capabilities to educate consumers and provide access to cutting edge CME credits. The Company's goal is to satisfy the need for information not only for the medical community, but for every individual confronted with a health care issue regardless of their literacy level or language preference. For more information contact Kevin J. Aniskovich, President & Chief Operating Officer Health Info Corp, 471 East Main Street, Branford, Connecticut 06405 203-483-7791 x103 Email kja@healthinfoseek.com http://www.healthinfoseek.com   ************************************************************************* Health Leaders.Com http://www.healthleaders.com Award winning daily healthcare newsletter from Passport Health Communications. Features direct links to health technology, government, legal issues, managed care and industry news, press releases and updates. **************************************************** TOP CHOICE REVIEW **************************************************** NationalDialNet.Com http://www.needadoctor.com http://www.needadentist.com http://www.USDENTIST.com Are you looking for quality information, a wealth of knowledge for the practitioner or patient? NationalDialNet.com heathcare websites could be a time saver on your next internet journey. Featuring needadentist.com, needadoctor.com, and USdentist.com, these websites are easy to access and practitioner friendly. Needadentist.com offer a wide array of professionals products and services including ask the experts, comprehensive continuing education opportunities, and free classifieds. Educational and functional links to other healthcare resources are also available at the site. Finding a dds or md in an emergency situation can be life saving. Needadentist.com offers easy and practitical solutions for the consumer and practitioner. National state directories are available with up-to-date listings and a unique option to add practice information to the existing database. Needadoctor.com caters to the medical professional and patient offering full search capabilities for finding a physician, nationwide search by speciality, and add my practice database. Visit the site for a listing of healthcare vendors and sponsors. USdentist.com features an interactive forum and message board. Post a message or search the database for management or clinical discussion subjects. Get involved or updated. If you are looking to build a website or host your domain, NationalDialNet.Com has the expertise, knowledge and established healthcare (md or dds) communities to feature your practice on the internet. Healthcare vendors and e-commerce programs are also available. In all, travelling the healthcare internet can be quick, easy and successful with NationalDialNet.com websites. For more information contact bgomme@nationaldialnet.com or visit the sites at http://www.needadoctor.com http://www.needadentist.com http://www. USdentist.com ***************************************************************** PRACTICE TIPS ****************************************************************** Improve Cash Flow By Developing the Successful Financial Policy! ****************************************************************** The road to successfully gaining control of your receivables can be a long and tedious task for the inexperienced manager who fails to outline all financial, billing, insurance and collection responsibilities to all patients before credit is granted. The financial policy is the pulse and heartbeat of the complete receivable system. It offers a rare opportunity for the manager to create a set of rules and guidelines for the patient to adhere to. A significant amount of cash flow is lost when the manager is continually forced to collect accounts in delinquency. Each new delinquent entering the collection department subtracts one second of productivity and two seconds of incentive from the staff. The manager must roll up the shirt sleeves and fight back before the department loses control and admits defeat. The financial policy can be the first practical step for the following reasons. 1. Outlining all patient financial, billing, credit, insurance and collection responsibilities can reduce the amount of overall misunderstandings and can avoid future payment disagreements. 2. Reducing the sheer number of disgruntled patients will significantly improve the overall performance of each collector. Eliminating stress from the work place can pay dividends. 3. Eventually, the patient account costs more to collect than it¹s original balance. For example, deducting account depreciation, lost interest and the internal costs of labor and paper,the $100 account after nine months turns into the $9.90 delinquency! 4. The smart manager can only regain control if new delinquencies are reduced. Any manager in the trenches can testify to time management dilemmas. Control is a key to success. Finally, The policy should not exceed one typed page. This is critical since the policy must clear up misunderstandings without losing patient interest. Everyone good paying or delinquent should receive a copy to insure continuity. For more tips from Michael J. Berry, Consultant visit http://www.practiceguardian.com ********************************************************************* EVALUATING YOUR ACCOUNTS RECEIVABLE PERFORMANCE! ********************************************************************** The collection percentage analysis is a sure method in determining how effective your internal management procedures and process is collecting. This analysis will indicate how effective each management procedure at each interval of the billing and collection process is controling and preventing delinquencies. First, divide all net charges into net payments received beginning with the January 1999 totals then proceed with each following month. The collection percentage analysis should be accomplished at the end of each quarter, mid year and annually. This will offset Medicare and hospital charges into your system and create a true analysis of your receivables. Once the percentage for each month is attained for each month a bar graph should be utilized. Beginning with the top left side of the graph insert the percentage of 150% and decrease each line by 5% until it is completed at 50% as follows: 150 145 @ 140 135 130 @ 125 @ 120 @ 115 110 @ 100 95 @ 90_______________________________________________________________________92% 85 80 @ 75 @ 70 @ 65 @ 60 55 @ 50 @ Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 70 125 80 95 120 55 150 50 110 130 65 75 Now, place your monthly collection percentages on the bottom of the graph including a straight line across at 92% to indicate the national average. The average loss for medical accounts receivables is between 8% to 20% fluctuating with the amount of Medicaid and Medicare adjustments each practice accepts. Remember speciality practices average higher annual loss figures. Finally, connect the dots (percentages) to indicate your performance. Under normal circumstances, the graph should range from 120% to a low of 85% with few fluctuations. If your evaluation is comparable to an ekg reading you are consistently losing cash flow and should overhaul your entire internal process. This is not a percise measurement of your receivables. It only indicates a graph of your current accounts receivable preventive and active procedures and process. **************************************************** ASSOCIATION UPDATE **************************************************** Integrated Healthcare Association (IHA) Update http://www.iha.org The Integrated Healthcare Association (IHA) has released a major report on Preserving and Strengthening the Delegated Model in California. The recent bankruptcies of FPA and MedPartners, and growing concern about provider group insolvency, have raised serious questions about the predominant California model of delivering managed care through delegated relationships from health plans to provider groups, supported by capitated payments. In its report, IHA argues that the basic model is sound and works well when there is a proper balancing of risk and responsibility between a health plan and a well-managed provider group, but that clearly improvements are needed. IHA calls for actions that will restore a true sense of partnership to the delegated model, clearly defining the mutual accountability between health plans and provider organizations, and the establishment of publicly reported financial standards, common audits, and comparative performance measures for delegated entities. The report may be ordered for $15.00 through the IHA web site http://www.iha.org **************************************************** RECOMMENDED NEWSLETTERS & PUBLICATIONS **************************************************** ³Northwest Physician Magazine² Published Monthly Questions Contact Editor: Ms. Debbie Baldwin 1-800-697-6241 Yearly Subscription: Focus Point- Practice Management & Physician issues. ³The Health Care Collector² Published Monthly by: Aspen Publishers Questions contact: JoAnn Petaschnick , Editor 414-462-0278 FAX 414-462-7547 200 Orchard Ridge Dr. Gaithersburg, MD 20878 Yearly Subscription: $197 Focus Point: Collections ³The Credit Connection² Published Quarterly by: Wisconsin Clinic Credit Managers Association (WCCMA) Questions Contact: Support Services - Deen Clinic Ms. Teresa Addison, Editor 608-250-1121 1808 W. Beltline Highway Madison, Wisconsin 53725 Yearly Subscription: $35 Focus Point: Medical Collections, Accounts Receivables, Federal & State Regulations. ³American Medical News² Published weekly by: American Medical Association (A.M.A.) Questions contact: A.M.News Staff 312-464-4429 515 North State Street Chicago, Illinois 60610 Yearly Subscription: (Free with AMA Membership) Focus Point: All Medical/Socioecomonic Issues. ³Physican¹s Marketing & Management² Published monthly by: American Health Consultants Inc. Questions contact: Managing Editor, 404-282-7436 3525 Piedmont Road N.E. Atlanta, Georgia 30305 Yearly Subscription Focus Point: Medical Management ³In Confidence² Published Bimonthly by: American Health Information Management Association (AHIMA) Questions contact: Ms. Jennifer Carpenter. RRA Professional Practice 312-787-2672 919 N. Michigan Avenue, Suite 1400 Chicago, Illinois 60611-1683 Yearly Subscription: $90 ($75 with membership) Focus Point: Health Information, Patient Privacy & Information System Security Web Site: http://www.ahima.org **************************************************************************** NATIONAL HEALTHCARE ASSOCIATIONS (A TOZ) **************************************************************************** Academy of Operative Dentistry Contact: Dr. John Reinhardt Website : http://www.uiowa.edu/~aodweb. American Academy of Family Physicians 8880 Ward Parkway Kansas City, Missouri 64114 (816) 333-9700 Web Site: http://www.aafp.org American Academy of Pediatrics P.O. Box 927 Elk Grove Village, Illinois 60009 (847) 228-5005 Web Site: http://www.aap.org American College of Cardiology For More Information Call: 800-253-4636 ext.697, or 301-897-5400, ext.697) http://www.acc.org American Dental Association 211 East Chicago Avenue Chicago, Illinois 60611 (312) 440-2500 Web Site: http://www.ada.org American Medical Association (A.M.A.) 515 North State Street Chicago, Illinois 06010 (312) 464-5000 Web Site: http://www.ama-assn.org Association of Managed Care Dentists For More Information Call: 310-4553-3439 http://www.dentalgroup.com/amcd. Association of Military Surgeons of the United States (AMSUS) Ms. Marisa Brazil, AMSUS, Membership Coordinator (301) 897-8800 ext. 20. marisab@amsus.org http://www.amsus.org Healthcare Financial Management Association (HCFMA) Contact Terry Arya, HFMA Membership (800)252-HFMA (4362), ext. 362 e-mail tarya@hfma.org.  http://www.hfma.org Integrated Healthcare Association (IHA) Mr. Beau Carter, IHA Executive Director, 45 Quail Court, Suite 302, Walnut Creek, CA 94596, (925) 746-5100 Focus Point: Managed Care Email: bcarter@iha.org. Web Site: http://www.iha.org Medical Group Management Association For More Information Contact: Mr. Garth Jordan, Director of Marketing 106 Inverness Terrace East Englewood, CO 80112-5306 (303) 799-1111 FAX (303) 643-4427 Web Site: http://www.mgma.com The American College of Physician Executives For More Information Contact: Mr. Wesley Curry, wcurry@acpe.org 813-287-2000, http://www.acpe.org The American College of Chest Physicians Member Services 3300 Dundee Road Northbrook, Illinois 60062 Phone: 800-343-2227 or 847-498-1400 Fax: 847-498-5460 E-mail: registration@chestnet.org http://www.chestnet.org The American Gastroenterlogical Association For More Information Contact: http://www.gastro.org The American Thoracic Society Ms. Lori Atkins Manager, ATS Communication Services American Thoracic Society, Medical Section of the American Lung Association 1740 Broadway New York, NY 10019-4374 Phone 212/315-6442 Fax 212/315-6455 latkins@lungusa.org http://www.thoracic.org **************************************************************************** PRACTICE GUARDIAN NEWS Practice Guardian News is published monthly. Send all inquiries to attention editor at (219) 583-4234. E-Mail info@practiceguardian.com The subjects and written examples in this newsletter are for general use only. The publisher and author do not accept any responsibility or liability in regards to misuse or misinterpretation. A qualified attorney should be consulted in all matters concerning practice management. Copyright 1999, MJB, Consultant. ****************************************************************************