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Reimbursement and Practice Management

Human Resources Archive

  • Incentive Plans That Pay Off

    The beauty of employee incentives is their potential to leverage a small investment of time or money into substantial returns for your practice. For example, a business office employee might earn a $100 gift card for effort that results in increasing collections by $10,000: That effort represents an additional $9,900 of revenue that otherwise may have been unrealized.

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  • Fraud Proof Your Practice

    The risk of employee theft and embezzlement is an unfortunate fact of life for every business. While experts estimate losses from fraud at approximately 5% of revenues for a typical company, small businesses including medical practices – which usually cannot afford elaborate systems to prevent and detect internal theft and embezzlement – are likely taking an even greater revenue hit.

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  • Recruiting the Right Physician

    Locating the right physician to join your practice can be a true challenge, but the rewards for making the right choice can be substantial when you do get it right.

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  • Employee Retention

    Employee turnover hits the bottom line hard: Human resources experts estimate that the average "hard costs" of replacing an employee (severance, recruitment, hiring, training, etc.) can range from 50 percent to several times the departing employee's annual compensation, depending on his or her level within the organization . Add in so-called "soft costs" resulting from lost expertise, reduced productivity among remaining employees and degraded customer service quality, and it's easy to see how important it is to retain your top performers.

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  • Motivated: Making the Most of Every Day

    It's no secret, medical practices are operating in a demanding environment; you certainly want to make sure you are getting the best performance possible from your staff. Try these suggestions to motivate your staff – without making major financial investments.

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