Making Less by Working More
The insurance “game” has ever changing “rules” and is more and more difficult to play… well, play well. There are no “cheats” to get to the next level. The only certainty in dealing with insurance carriers is clearly stated while you wait on hold; “Approval is not a guarantee of payment.”
Years ago (almost a decade at this point) when benefit details were more easily deciphered, patient responsibilities were lower and there were fewer plans to deal with, doctors could treat 40 plus patients a day, five days a week and have a healthy income.
In recent years however, this is not the case. A rapidly declining work ethic (creating staffing shortages) combined with the need for additional “man power” to check coverage and benefit details, maintaining compliance, documenting what was documented, jumping through hoops to avoid inappropriate bundling of services and insultingly low fee schedules makes the high volume, 5 clinic day week a losing battle.
Time must be carved out to monitor the health of your practice and to assure that you are not treating some patients for free or making pennies on the dollar with a “pack the schedule” rather than a quality over quantity philosophy.
In my experience doctors who practice 3 1/2 – 4 days a week in clinic and use their administrative time to meet with billers, managers, marketers and consultants like me, see a far greater return in not only income, but sanity.
25 patients a day with a PVV of $160 is equal to 40 patients a day with a PVV of $100.
Packing the schedule assures that you are not maximizing visits and most likely aren’t getting paid for many of the services you provide. Less patients allows you to do more with each and to keep a close watch on reimbursement, without all the extra staff and charting thus reducing expenses as well as time spent in the office.
