Here’s a tip for how to use the Platinum X software in order to make family visits easier to schedule. First, create a group for a family by following these steps:
Did you know that Medicare’s denial rate for chiropractic reimbursements ranges from 60 to 100%, based on each practice? On top of that, according to a 2013 review of documentation, only 40% of doctors responded to Medicare requests for information related to claims, which of course results in no reimbursement. These reimbursement denials add up to a serious loss of revenue—yet they are avoidable.
With today’s growing trend of more people choosing integrative wellness care, chiropractic care is growing in popularity. In fact, the American Chiropractic Association estimates that there will be approximately 80,000 chiropractors in the U.S. by 2020, a rise from 58,000 in 2010, with chiropractic colleges graduating about 3,000 new practitioners each year.
The amount of time you spend on the routine tasks that you do every day can really add up. If you don’t have the most efficient tools and practices in place, you could be losing anywhere from 20 to 80 hours each month.
Patient retention is critical for the bottom line of any chiropractic practice. However, patients are in no way obligated to stay loyal to their chiropractor. All too often they decide that they might get better care and results from another practitioner, but the chiropractor that had been treating them usually doesn’t know why they decided to leave. Here are the top 5 reasons patients decide to jump ship and switch to another chiropractor:
You’ll never hear a chiropractor say that they became a DC because they wanted to take care of paperwork. Chiropractors are renowned for their desire to help people feel better, however, the chiropractic business also requires spending time taking care of daily tasks like paperwork, phone calls, and scheduling. Fortunately, there are ways to make those tasks go much more quickly so that chiropractors and their staff can focus more of their time on patients.
The average chiropractic office loses at least 3% of insurance collections thanks to delayed filing or rejected claims. This certainly adds up over time and reduces a practice’s overall revenue. However, the expense of hiring staff to track billing also adds up, and isn’t always effective if the practice’s billing procedures aren’t up-to-date.
There are many factors chiropractors take into account when choosing an EHR system. Emphasis is usually placed on the set-up requirements, pricing, and how easily and quickly the software will help doctors and staff manage daily tasks. However, an equally important consideration should be how strong the EHR vendor’s customer support team is.
It’s a common belief that in order to see more patients, a chiropractor must add more staff to handle the many administrative tasks like managing patient files and billing. It’s understandable to equate more patients with more staff, but that scenario isn’t the most effective way to increase profits. There’s a more efficient way to increase your practice’s patient roster without needing to hire additional staff, and that will increase your revenue more quickly.
Pardon the pun, but billing for chiropractic care can be a real pain in the neck. The amount of time it takes to file and follow up on billing often seems like a full-time job. Not to mention, billing mistakes are costly and affect your bottom line revenue. The average chiropractic office loses a minimum of 3% of insurance collections thanks to delayed filing, unpaid claims, claims that aren’t followed up on, and misfiled claims.