So, what does all this data mean for you? “This sort of data is really strong for backing arguments about which payer contracts to keep or drop,” says Verden. “It’s great for making unemotional decisions. Physicians get really emotional when they get denial after denial.” Instead, analyze the data. See where your payers stand, and take notice if they are doing worse by your practice than the data suggest they are doing overall. It might be that some of the problems lie with your own processes.
Also, start focusing in earnest on patient collections to keep up with the direct-to-consumer trend. Sure, patients are historically considered harder to collect from than payers, but that’s mostly because physicians haven’t focused there. Track your collection success by payer but also by payers versus patients. Train and reward the front desk and everyone else involved when collections go up. Carefully review every step in your patient collection process to iron out wrinkles.
Above all, as you pore over the data in our charts and graphics, let yourself feel empowered. At least for this month, in this issue, it’s you who are peering over the shoulders of payers, instead of the other way around.
Pamela L. Moore, PhD, is senior editor, practice management, for Physicians Practice. She can be reached at pmoore@physicianspractice.com.
This article originally appeared in the June 2007 issue of Physicians Practice.
