This scenario is so true. I would 100% take 100 post surgical patients over 100 low back pain patients from a business point of view. The problem is that it's a lot easier to find 100 people with low back pain than 100 people who are post surgical...at least it is for me:) Personally, I feel like geriatric balance/difficulty walking/general weakness patients are the best of both worlds. It isn't as sexy but I would say the biggest businesses in our industry are built off these patients.
1,000% yes! Cashflow management is a universal strategy. The reality is most larger organizations just don't need to. They have operational advantages. Economies of scale. It is certainly easier for a smaller clinic to do it, but it can be implemented at any size. Now, on the flip side, if I am a rapidly growing business waiting on income is a bad idea. If I need capital coming in I would rather take it at a 15% reduction now than wait a couple months. Larger businesses sometimes sell their AR at a discount because they need the cashflow now. Our advantage is we can wait a couple months to bring in more.
This scenario is so true. I would 100% take 100 post surgical patients over 100 low back pain patients from a business point of view. The problem is that it's a lot easier to find 100 people with low back pain than 100 people who are post surgical...at least it is for me:) Personally, I feel like geriatric balance/difficulty walking/general weakness patients are the best of both worlds. It isn't as sexy but I would say the biggest businesses in our industry are built off these patients.
Great stuff Tony! Shocks me that this isn't your most popular video. Super important concepts here!
Thanks for the feedback.
Is holding back on submitting billing to insurance scaleable beyond one maybe 2 clinics?
1,000% yes! Cashflow management is a universal strategy. The reality is most larger organizations just don't need to. They have operational advantages. Economies of scale. It is certainly easier for a smaller clinic to do it, but it can be implemented at any size.
Now, on the flip side, if I am a rapidly growing business waiting on income is a bad idea. If I need capital coming in I would rather take it at a 15% reduction now than wait a couple months.
Larger businesses sometimes sell their AR at a discount because they need the cashflow now.
Our advantage is we can wait a couple months to bring in more.
Why don't you provide your website link?
Which website would you like?
@@LearnMedicareBilling for billing and coding