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Pros and Cons of AI and Automation in a Chiropractic Clinic

Technology has always played a vital role in healthcare and modern modifications to medical systems make important improvements in patient care. Among recent technology improvements is the topic of Artificial Intelligence or AI (and other automation programs) which have begun to be integrated into medical practice. Artificial Intelligence can be a scary subject, but it isn’t as complex as it seems. There are many pros (and cons) on integrating AI into your chiropractic care practice. In an effort to help you fully understand the technology we have taken the time to explain these benefits and drawbacks in today’s blog. Let’s begin!

Pros:

Improvements in Efficiency: Automated systems powered by AI streamline administrative tasks. Algorithms can quickly schedule appointments, update billing information, and assist with inventory management. Through automating these processes, the time of chiropractors and their staff is freed for what really matters, patient care. These changes result in heightened efficiency within the clinic.

Personalized Patient Care: With increased computing power an AI-driven system can analyze patient data to generate personalized treatment plans for each patient’s unique needs. This approach not only improves overall health outcomes but also helps you to strengthen your patient-practitioner relationships through a demonstrated commitment to individualized care.

Improved Diagnosis and Treatment: To assist chiropractors, AI algorithms can analyze medical images and patient data to assist in diagnosis. This allows these same algorithms to create treatment plans that are optimized to patients needs. Such technology should be used as an assist, not a replacement for practitioner knowledge, but can lead to increased diagnostic precision and ideal treatment strategy.

Data-driven Insights: AI-powered analytics are able to analyze much more data than a human mind. Insights pulled from AI analysis are able to find connections that help clinics identify trends in health and predict patient needs ahead of time. An increased capacity for informed decision making will then increase clinic performance. and optimize resource allocation, thereby fostering informed decision-making and enhancing overall clinic performance.

24/7 Accessibility: Unlike a human-powered help service an automated system enables patients to access services around the clock. Patients can schedule appointments and receive basic medical advice on their own schedule. This increased accessibility ensures that patients have access to what they need while simultaneously freeing your staff to go beyond the basics.

Cons:

Cost of Implementation: As with any update to your practice, integrating AI and automation systems often requires an initial investment. Costs of both hardware and software contribute to a sizable startup cost. For this reason smaller clinics may be prevented from integrating AI systems into their practices.

Privacy and Security Concerns: AI relies on vast amounts of patient data which can raise concerns about privacy and security breaches. As with all healthcare fields, chiropractic clinics must implement data protection measures for patient confidentiality and regulatory requirements. This may pose additional challenges and expenses regarding AI software.

Risk of Misdiagnosis: AI is not infallible. If a practitioner relies on AI algorithms too much it may lead to a misdiagnosis due to error. Misdiagnosis is dangerous and compromises patient safety and trust. When using AI chiropractors must exercise caution, being sure to use AI as a supplementary tool, not a substitute for their own expertise.

Reduced Human Interaction: Human interaction is vital to building a patient-practitioner connection. If a clinic relies too much on technology a barrier can form to a real connection with the patient. Maintaining a balance between tech efficiency and human care is essential both to reduce the risk of a loss of human connection and to keep up in the modern world.

Technical Challenges: Same as any technology an automated AI system is susceptible to technical faults. Glitches, software failures, and compatibility issues could all happen with regular use of the AI system. Clinic operations may be disrupted if these systems malfunction, so be sure to know how to access tech support. In addition, integrating a good contingency plan is vital.

To sum it up, the integration of AI and automation into chiropractic clinics contains exciting potential! It can revolutionize patient care with a streamlining of internal operations. However, with the possible risks it is key to approach AI integration with caution. Weigh the pros and cons to find the right balance for your practice. With proper balance all clinics can harness the power of AI to improve their overall business function and the patient care experience.

 

Money Tree Billing is a chiropractic billing company who removes the distraction of billing from your office so you can focus on changing lives through chiropractic care. Money Tree Billing offers complete billing cycle management through a dedicated and seamless billing process. We empower you and your team with support beyond just billing. Focus on your practice and your passion and we’ll focus on getting you paid. We GUARANTEE our work. Money Tree Billing guarantees if your insurance claim goes unpaid due to our error, that we will credit you the amount you would have been paid on that claim. You won’t find another guarantee like it in the industry. To learn more about Money Tree Billing, and our one-of-a-kind guarantee, visit www.moneytreebilling.com

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Maximizing Revenue

 Maximizing Revenue: The Importance of Following Up on Unpaid Claims

We can all agree that getting paid on time for our services is important. This is especially true in the world of chiropractic billing. However, the unfortunate reality is that for various reasons, claims often get denied or go unpaid. Denial or missed payment of service claims leads to direct revenue loss. For this exact reason, having a system to ensure all claims are being paid is essential.

At Money Tree Billing, we pride ourselves in our processes for tracking and addressing unpaid claims at all stages of the claims processing cycle. Our approach involves three key stages to maximize revenue and minimize the impact of claim denials.

  1. Clearinghouse Level:

The first step in our process begins at the clearinghouse level. A clearinghouse is a middleman between your business and your patient’s health plan that sends claims from healthcare providers to insurance payers. Part of that process includes rejecting claims that contain errors before sending them off for payment. When a claim is in the clearinghouse, we track the claim to catch errors or rejections early. By addressing issues quickly at this stage, potential delays or denials are prevented.

  1. Payment Posting Process:

The second stage occurs during the payment posting process. During this stage, our team closely monitors for any denials or incorrect processing issues. Timely identification of these issues allows Money Tree Billing to take action, whether this involves resubmitting claims with corrections or appealing denied claims. We ensure that every opportunity for reimbursement is pursued.

  1. Aged Claims (AR) Reports:

The final stage involves regular monitoring through Aged Claims (AR) reports. Each month our team prints out these reports and carefully reads through the contents. By taking the time to review any outstanding balance our processes allow us to continue to follow up and track the repayment process for each outstanding bill. 

Through our comprehensive billing process, these key three-steps are the hub of claims activity and tracking. Money Tree Billing empowers healthcare practices to rest assured that their revenue cycle management is optimized. Through outsourcing your chiropractic billing with Money Tree Billing you can achieve greater financial stability. Our dedicated team is highly committed to ensuring that no claim falls through the cracks. We advocate on your behalf to maximize reimbursements and minimize revenue loss because we care about your business.

The extreme importance that comes with having a defined process for following up on unpaid claims cannot be overstated. With the right processes in place, chiropractic practices can rest easy, knowing that their financial interests are being prioritized every step of the way. At Money Tree Billing, we’re committed to providing handcrafted solutions to help our clients grow and gain stability within their business.

 

Money Tree Billing is a chiropractic billing company who removes the distraction of billing from your office so you can focus on changing lives through chiropractic care. Money Tree Billing offers complete billing cycle management through a dedicated and seamless billing process. We empower you and your team with support beyond just billing. Focus on your practice and your passion and we’ll focus on getting you paid. We GUARANTEE our work. Money Tree Billing guarantees if your insurance claim goes unpaid due to our error, that we will credit you the amount you would have been paid on that claim. You won’t find another guarantee like it in the industry. To learn more about Money Tree Billing, and our one-of-a-kind guarantee, visit www.moneytreebilling.com

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Should You Outsource Chiropractic Billing?

Should You Outsource Chiropractic Billing? Here’s What You Could Gain

Outsourcing work is a common practice. Sending tasks elsewhere allows you to focus on what is important about your business. At Money Tree Billing, we aim to partner with chiropractors who understand the importance of growing and stabilizing their business. Business-savvy chiropractors know that aligning with the right chiropractic billing company allows them to focus on their team, patient care, and community wellness while having reduced stress, saved time, and optimized stable insurance collections.  

How do you know if outsourcing is the correct choice for you?

Because we believe in partnering with chiropractors who aim to both grow and stabilize their businesses, we encourage you to fully consider all the reasons you should outsource your chiropractic billing. Your practice’s unique needs and goals will influence which billing company is the best fit for you.

Here is what you gain by outsourcing your chiropractic billing with Money Tree Billing:

Focus on Your Team: Billing takes time. As a chiropractor and business owner, your time is valuable. Time spent on billing could be better spent building your team up. Partnering with the right billing company frees up needed time to foster a positive culture within your workspace.

Improved Patient Care: With outsourced billing comes the potential for improved patient care. When you remove administrative duties from your plate you can spend more time working with your patients. Personalized treatment plans and consultations are easier to maintain without the stress of billing, leading to higher satisfaction and better overall health.

Reduced Stress: Managing billing tasks in-house can be stressful with complications such as claim denials, rejections, and follow-ups. Outsourcing your billing frees you from this stress, instead giving it to experienced professionals. Money Tree Billing is equipped to handle all chiropractic billing challenges, allowing you to keep focus on what you do best.

Cost Savings: When paying to outsource, your first thought is not savings. This does not mean they are not there. Often outsourced rates are similar to in-house costs even before you factor in other benefits. By outsourcing you gain increased collections and stability while reducing costs that result from training and maintaining an in-house billing staff.

Insurance Expertise: Money Tree Billing has years of expertise dealing with all types of insurance companies. Chiropractic billing is our specialty. When you partner with a billing company that knows the industry, your business will receive faster claims processing, a reduction in errors, and improved overall collections.

Is outsourcing right for you? In the end, the decision to outsource your chiropractic billing is up to you. Your billing should align with your practice’s objectives and values. Partnering with a reputable chiropractic billing company helps you along the way to the goals listed above. With Money Tree Billing you can streamline your revenue, improve cash flow, and free up valuable time to focus on what truly matters – delivering exceptional care to your patients.

 

Money Tree Billing is a chiropractic billing company who removes the distraction of billing from your office so you can focus on changing lives through chiropractic care. Money Tree Billing offers complete billing cycle management through a dedicated and seamless billing process. We empower you and your team with support beyond just billing. Focus on your practice and your passion and we’ll focus on getting you paid. We GUARANTEE our work. Money Tree Billing guarantees if your insurance claim goes unpaid due to our error, that we will credit you the amount you would have been paid on that claim. You won’t find another guarantee like it in the industry. To learn more about Money Tree Billing, and our one-of-a-kind guarantee, visit www.moneytreebilling.com

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Elevate your Chiropractic Clinic in 2024 – Part 2

Elevate your Chiropractic Clinic in 2024 (part 2)

If you have not read part one of Elevating your Chiropractic Clinic in 2024 then take some time to start at the beginning.

3. Simplified Chiropractic Billing & Payment Processing:

Efficient billing and payment processing are vital components of a thriving chiropractic practice. Joining a reputable billing team, like Money Tree Billing, can streamline processes and save you time and money.

Insurance billing: It can be difficult to deal with insurance companies and can create strain on your staff and your cash flow, but it can add to your patient care. Billing insurance can also add to your patient pool.

How to Implement: Implementing billing insurance into your chiropractic clinic can be a difficult process that involves several steps to ensure a smooth transition. You first must understand the requirements and contact insurance companies for credentialing (it helps to know what insurance companies are most prevalent in your community that your patients currently use to make sure they are eligible). Then you can start collecting your patient’s information and submitting your claims. For this step, you must train your staff in code compliance and make sure they stay informed about policy changes, but it doesn’t end there. Once you’ve billed the claims, you need to monitor your clearinghouse to correct errors or rejections, post your payments, and correct or investigate your denials.  But wait, there’s more!  You need to keep your accounts balanced to ensure accurate patient statements and your staff also needs to follow up on any outstanding claims to make sure that you are getting paid for the services you are providing.

Outsourcing your billing: Partnering with the MTB team allows chiropractors to save time and reduce administrative costs. Outsourcing billing and payment processing enables practitioners to concentrate more on patient care and practice growth. The MTB team provides comprehensive billing solutions, including claims submission, insurance verification, and accounts receivable management. This ensures accurate and timely reimbursement for services rendered.

How to Implement: Collaborate closely with the MTB team during the onboarding process. Provide necessary information, and ensure your staff is familiar with the new billing procedures.

Digital billing services: Stop sending out paper statements that take up your staff’s time and cost you money. Get quick and convenient results when you join the MPS Club and take your clinic digital. Give your patients pay online options that are easy to view, consistency that will decrease the time it takes for people to pay, and there is always the added benefit of going Green!

How to Implement: Contact the MTB team to get started and join the club.

4. Wellness-Based Care:

Chiropractic care has evolved into more than just a one-time visit when things are bad and awareness of the benefits of having a wellness-based, also known as maintenance, care plan has increased over the years. Implementing this model of care into your practice will help you track and monitor the ongoing wellness of your patients as well as add preventive measures into their care plan. Not to mention it will give your clinic a more consistent revenue stream.

Predictable Revenue: Wellness-based care models provide chiropractors with predictable and recurring revenue based on preventative care, not symptoms that are commonly not eligible for payment by insurance. Patients pay a regular fee for ongoing services, ensuring a steady income stream for the practice.

How to Implement: Look at the services you offer and create wellness options that fit with your target market. It’s important to educate your patients on the importance and benefits that come with signing up for your wellness-based care.

Focus on Preventive Care and Customized Plans: Wellness based care encourages a proactive approach to healthcare. This allows you to prioritize preventive measures, ongoing adjustments, and proactive programs, fostering a long-term relationship with patients focused on overall health and well-being.

How to Implement: When considering your wellness plans, make sure that they are flexible so that they can focus on preventive care specific to each patient’s healthcare goals.  Again, a big part of whether your programs are successful or not is educating your patients on the importance of wellness care.  As part of your implementation, it’s imperative to know and understand the guidelines of insurance networks you are a part of, state laws and federal laws for patient pricing and billing.  To help, it can be beneficial to consider outside companies like ChiroHealthUSA who specialize in this market and offer compliant options.

Patient expectations are always changing and it’s in your best interest as a service provider to meet those expectations. Adding easy patient communication, a relevant online presence, a convenient billing structure, and growing your wellness-based services will elevate your clinic and help you meet those expectations. It is important to continuously monitor and evaluate the impact of these changes, adjusting as needed to optimize both patient care and internal efficiency.

Money Tree Billing is a chiropractic billing company who removes the distraction of billing from your office so you can focus on changing lives through chiropractic care. Money Tree Billing offers complete billing cycle management through a dedicated and seamless billing process. We empower you and your team with support beyond just billing. Focus on your practice and your passion and we’ll focus on getting you paid. We GUARANTEE our work. Money Tree Billing guarantees if your insurance claim goes unpaid due to our error, that we will credit you the amount you would have been paid on that claim. You won’t find another guarantee like it in the industry. To learn more about Money Tree Billing, and our one-of-a-kind guarantee, visit www.moneytreebilling.com

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Elevate your Chiropractic Clinic in 2024 – Part 1

The way the world functions now has impacted the user’s experience and the expectations they have for places of service. Adapting you clinic to meet these expectations and improve your patients’ experience will help elevate your business in 2024. First, we need to identify the expectations your patients have and how to implement those changes into your practice. Then, we can look at how those changes will benefit your patients and in turn, help your clinic grow. This is part one of how to seamlessly integrate services into your chiropractic clinic that will benefit your patient’s experience.

 

1. Patient Communication & Management: Embracing Technological Solutions

Quick and clear communication is at the forefront of quality patient care. Streamlining communication and management will improve your patient’s experience, save your team time and keep your schedule full and profitable.

Appointment Scheduling Apps: Work life is different for many employees now. A 9 to 5 is becoming less and less common. Having an appointment scheduling app empowers patients to book appointments easily and when they can. If you find the right tool it could be integrated into your clinic’s management systems to reduce the stress scheduling appointments has on your staff, giving them more time for patient care. These tools also have added features such as automated reminders which add to the patient’s satisfaction and minimize the risk of no-shows.

How to Implement: You will want to start by figuring out what your clinic needs from a scheduling app. There are many apps available with different functions and prices attached. Make sure you look for a user-friendly interface that you can integrate with your current software scheduler. Then, market the new service and educate your patients on how to use this new feature. You want to encourage them to utilize the convenient online scheduling option to make it easier for your staff and streamline your internal systems.

Electronic Health Records (EHR): Electronic Health Records (EHR) systems offer a digital solution for keeping track of patient records, treatment plans, and progress. This not only enhances the accuracy of the data but also allows for other healthcare providers to seamlessly collaborate, improving the overall quality of care they can provide their patients.

How to Implement: This can be an investment for your clinic, but one that will pay off when you can provide the most for your patients. Because most software programs include an EHR feature, the investment is more in time and customization.  Like always you must train on how to use the system efficiently and may have to adjust your patient scheduling to allow for additional documentation time while learning.

Telehealth Platforms: A great tool for that would be adding a telehealth platform to help revolutionize your patient communication. Chiropractors can now connect with their patients remotely, making follow-up and consultations virtual and instant. This will make it easier and more convenient for your patients and also help your clinic’s community reach.

How to Implement: There are many different telehealth platforms you can integrate. Take some time to figure out what you need for a telehealth platform. Every clinic has different patients so understanding their needs and how they would use the platform is important as well. Once you find the right platform for your clinic then it’s time to train your staff to make sure that every team member is using the platform the same way. This will save some confusion in the long run. Next is to market this new service and educate your patients on how to join.

2. Online Visibility & Practice Growth Technology:

The way that people gather information has changed over the years, so having a strong online presence is crucial for attracting patients and fostering growth for any business. Because having a website and being active on social media platforms is so common for businesses many people connect legitimacy with having a strong online presence. Increasing your digital footprint can significantly impact your clinic’s success.

Search Engine Optimization (SEO): SEO is a powerful tool that improves your clinic’s online searchability. No one goes to the second page of Google. By optimizing your website content, incorporating relevant keywords, and adding quality internal and external links, you can move up in the world and on Google’s ranking.

How to Implement: You should know what platform your site is built on, where it is being hosted, and who is currently maintaining it. Many times web developers already add simple SEO to the sites they manage. So, checking to see what is already being done and how your site is ranking can save you money in the long run. As with anything, digital things change. Make sure that you are on some sort of SEO plan where your web content and keywords are being updated regularly. Fresh content will tell Google that your site is relevant and will help increase your rank.

Social Media Engagement: Having a social media presence lets you have a different type of interaction with your patients. This is a more personal way of communication and gives you a way to express the culture behind your clinic and the people who work there. Being active on social media makes your clinic more approachable and attracts the younger generations. Many clinics use social media to educate their patients/followers about the services they offer and to bring awareness to chiropractic care as a whole.

How to Implement: Social media is easy to implement, it’s the maintaining that’s the difficult part. You want the content you share to be relevant and engaging to your target market. This is something that you can farm out to a marketing agency or hire someone internally to maintain.

Online Reviews and Testimonials: Having online reviews is not something new, but it’s something that is still important. Reviews and comments are some of the first things that people look at and can influence patients to visit or not. Positive reviews can enhance your clinic’s credibility and attract new clients.

How to Implement: Although having reviews is not a new thing for business, there are new ways of getting them. Having a “review card” with a QR code or sending a text with a link to a Google review will make it easier for your patients to leave a review. Having reviews increases your credibility when they’re positive, by implementing the above suggestions you can improve your patient’s experience and meet the expectations they have for your clinic.

Stay tuned for part two and learn how to seamlessly integrate services into your chiropractic clinic that will benefit your patient’s experience.

 

Money Tree Billing is a chiropractic billing company who removes the distraction of billing from your office so you can focus on changing lives through chiropractic care. Money Tree Billing offers complete billing cycle management through a dedicated and seamless billing process. We empower you and your team with support beyond just billing. Focus on your practice and your passion and we’ll focus on getting you paid. We GUARANTEE our work. Money Tree Billing guarantees if your insurance claim goes unpaid due to our error, that we will credit you the amount you would have been paid on that claim. You won’t find another guarantee like it in the industry. To learn more about Money Tree Billing, and our one-of-a-kind guarantee, visit www.moneytreebilling.com

Education MTB Coaching

Time Management in a Clinical Setting

It’s no secret that as a chiropractor, or working in any clinical setting, managing time effectively can be a challenge. Administrative tasks, patient care and appointments, and personal responsibilities can make It difficult to find the time to get it all done. Effective time management is an essential part of creating a successful and less stressful atmosphere for your clinic, yourself, and your staff. Time management can seem overwhelming, but let’s explore step-by-step some tips and techniques for managing time efficiently so you can improve your productivity and achieve greater success in your chiropractic clinic.

  • Set Clear Goals – Starting with setting clear and reachable goals. What do you want to achieve in your clinic? What are the priorities? Make sure to include short-term and long-term goals. Making the time to review your goals with your team will ensure you stay on track.
  • Plan Your Day – Take time at the end of each day, or before you start your day, to plan for the day. A clear concept of the day will help you to avoid wasting time.
  • Delegate – When possible, delegate tasks to others and empower your staff to delegate their tasks whenever appropriate. When delegating new tasks be sure that the team can handle whatever tasks you’re passing down.
  • Invest in Education – Continued education is key to not only professional and personal success, but also a key piece of time management. Promoting an environment of educating yourself and your team now only gives you added knowledge to help you stay on top of a quickly changing environment, it also makes you a highly desirable employer. Never hesitate to invest in your staff, even if they leave, they are much more likely to refer other top talent to your clinic and/or be an exceptional brand ambassador. Building skills ALWAYS pays off.
  • Outsource – Consider outsourcing portions of your workload to talented third parties. If you find you or your team spending a lot of time on medical billing, outsource your billing to Money Tree. Spending a lot of time dumping trash and dusting the lobby? Outsource to a cleaning company. You get the picture. Free up valuable (and potentially billable) time by allowing professionals who are exceptionally knowledgeable in their area of expertise to aid in your overall success.
  • Update Equipment – Budget and invest in technology and equipment. Outdated equipment means more time fixing problems or using technology and techniques that are out of date. If you don’t stay on top of equipment, a competitor quite possibly will.
  • Avoid Distractions – Put away the phone, ask friends and family to avoid calling you during business hours, or come to grips with your Sudoku addiction. Pay attention to non-work distractions and avoid them at all costs while working.
  • Use Time Tracking Software – Consider the use of time tracking software. The top benefits of time tracking software are:
    • Ability to truly see where you are spending your time, thus allowing for thoughtful delegation or outsourcing.
    • It increases productivity since you can clearly see gaps or areas that need attention.
    • Make better decisions with your added insights into your clinic’s operations. For example, you can see how long it takes per patient or different types of treatments. This information will help you distribute resources where needed
    • Along the same lines, it’s important to cluster book your patient schedule.  Have designated times for seeing existing patients, new patients AND paperwork.  This strategy makes both your “up” time and “down” time more effective.
  • Learn to Say No – It is OK to say no to requests that simply take up too much time. Always consider time when you do think about saying yes.
  • Take Breaks – Taking a few minutes to take a brief walk, step out for some air, or take some time for a lunch break. Your body and your brain need breaks to work at their best efficiency.
  • Self-Care – Studies show that those who provide care to others, and business owners, are two groups that don’t do enough to care for themselves. Many chiropractors get the double whammy of both caregivers AND business owners. Schedule time, in pen, for yourself. Healthy eating, exercise, and rest are key to being productive.
  • Get Organized – If your desk looks like a scene from Twister, or your calendar is a hot mess, take time to get yourself organized. Be sure to add organization to your goals and make time daily or weekly to just clean-up and regroup.
  • Don’t Be Afraid to Change Your Plan – Sometimes we need to recalibrate, reorganize, and pivot. Your best plan yesterday most likely won’t always be the best plan for tomorrow. Change some or all of it up if it isn’t working.

By taking the time to implement some or all of these time management tips you are sure to create a more organized and successful environment for yourself and your team. Ongoing review of time management is truly critical to your success as a chiropractic clinic. Your patients will thank you for supplying an environment of well thought out care.

Money Tree Billing is a chiropractic billing company who removes the distraction of billing from your office so you can focus on changing lives through chiropractic care. Money Tree Billing offers complete billing cycle management through a dedicated and seamless billing process. We empower you and your team with support beyond just billing. Focus on your practice and your passion and we’ll focus on getting you paid. We GUARANTEE our work. Money Tree Billing guarantees if your insurance claim goes unpaid due to our error, that we will credit you the amount you would have been paid on that claim. You won’t find another guarantee like it in the industry. To learn more about Money Tree Billing, and our one-of-a-kind guarantee, visit www.moneytreebilling.com

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How to Identify a bottleneck

A bottleneck in a business refers to a point in a process or workflow where the flow of work is constrained or slowed down due to a limitation in resources, capacity, or efficiency. It’s like the narrow neck of a bottle that restricts the smooth flow of liquid. Bottlenecks can hinder productivity,  impact overall operational efficiency, affect team culture, and limit your ability to grow your business..

There are two important things to know:  

  1. Your business is only ever as good/fast/profitable/effective (pick your word) as your bottleneck.
  2. Every business has a bottleneck.

Bottlenecks are most commonly thought of in production and in terms of an assembly line but are just as relevant to your chiropractic practice. Though the same thought process can be applied to all areas, here is one simple example:

Your office has an average of 25 new patients every month, but your overall monthly patient visit average isn’t increasing in accordance.  Somewhere between the first visit and overall patient retention you have a bottleneck.  

Here’s how you can identify a bottleneck in your business:

Key Performance Indicators (KPI’s): Monitor various performance metrics related to your processes. Beyond the basic numbers of new patient visits, patient visits, services & collections, there are KPI’s within each process that determine those final numbers. If you notice that certain metrics, such as patient flow, over-the-counter collections, customer service response times, or procedure follow through, are consistently lagging behind or not meeting expectations, it is most likely indicative of a bottleneck.

Workload Imbalance: If you observe that some team members or departments are consistently overloaded with work while others have idle time, it might suggest a bottleneck. A bottleneck often occurs when work isn’t evenly distributed. That being said, remember there is a difference between being busy and looking busy. Unless you have KPI’s in place, it can be hard to identify the difference.

Queues and Delays: Long queues or delays at specific stages of a process can signal a bottleneck. For example, if there is not a clear communication process throughout patient flow, you could have a new patient waiting in an exam room for 15 minutes before being seen by the doctor and/or clinic assistant.

Dependencies: If certain tasks or stages of a process have dependencies on others and one task is consistently causing delays, it could be acting as a bottleneck for the entire process. For example, if patient’s are consistently waiting long periods of time for their turn in therapy you potentially have a bottleneck.

Capacity Analysis: Evaluate the capacity of various resources, such as machinery, personnel, or technology, at different stages of your workflow. If one resource has significantly lower capacity than the others, it might be a bottleneck.

Process Mapping: Create a visual representation of your workflow, including all the steps and handoffs involved. Analyze the map to identify areas where work might be getting stuck or delayed. Determine KPI’s for the tracking of these processes and then re-evaluate every 30-days. Once established, review them every 90-days.

Feedback from Team: Encourage your team members to provide feedback on their experiences with the workflow. They might be able to pinpoint specific areas that are causing frustration or slowdowns, as well as contribute new thoughts and processes to test..

Data Analysis: If you have access to data related to your processes, you can analyze it to identify patterns of slowdowns or inefficiencies. Most commonly you will utilize reports in your software to help with this step.  

Once you’ve identified a bottleneck, it’s important to address it. This might involve reallocating resources, optimizing processes, investing in additional capacity, retraining a team member, redesigning workflows and/or taking an honest hard look in the mirror. Keep in mind that addressing bottlenecks is an ongoing process. As your business needs and dynamics change over time, your practice grows, technology advances, and so on, evaluating your bottlenecks is imperative to maximum success.

Money Tree Billing is a chiropractic billing company who removes the distraction of billing from your office so you can focus on changing lives through chiropractic care. Money Tree Billing offers complete billing cycle management through a dedicated and seamless billing process. We empower you and your team with support beyond just billing. Focus on your practice and your passion and we’ll focus on getting you paid. We GUARANTEE our work. Money Tree Billing guarantees if your insurance claim goes unpaid due to our error, that we will credit you the amount you would have been paid on that claim. You won’t find another guarantee like it in the industry. To learn more about Money Tree Billing, and our one-of-a-kind guarantee, visit www.moneytreebilling.com

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Are you looking to GROW YOUR CLINIC?

Are you looking to get a step ahead of the competition and GROW YOUR CLINIC? Growing your clinic can be overwhelming and expensive when you don’t know the right place to start. Here are the TOP 3 things you can do to make your chiropractic clinic stand out and gain more business in a competitive marketplace. 

Invest in Your Brand. Investing in your brand can help you get noticed by potential clients. Create a strong, professional, aesthetically pleasing online presence for your business. Make sure to use social media to market your practice while also investing in traditional forms of advertising such as newspaper and radio helps widen your reach and increase your brand awareness. Having an online presence allows potential clients to learn more about your services and even book appointments online. 

Increase your referrals. Growing your client base through referrals is an effective and efficient way to increase your business. Reach out to other like-minded health professionals in the community to share ideas and work on collaborations. Join networking groups and get involved in your community. When you learn more about others and refer business to them, they are likely to reciprocate. Never underestimate the value of a good old-fashioned handwritten Thank You card when a client sends someone new your way. Think about including a gift card to another client’s business and referrals will be flowing in before you know it. 

Stay on Top of Technology. Having access to the latest technologies can give your business a competitive edge. Invest in digital forms, online payments, patient education tools, as well as scheduling and reminder programs for appointments. This ensures clients receive a more efficient, streamlined visit each time. 

Investing in a solid foundation, strong customer service, and staying ahead of the technology curve can help your chiropractic practice GROW and succeed in a competitive landscape. With the right investment and commitment, you can grow your clinic and reverberate around the community and beyond. Utilizing a few of these techniques can help you increase your business and help stand out in a saturated industry. Having a clear plan and understanding that consistent growth within your clinic takes time, will save you time and create less when trying to take your business to the next level.

Money Tree Billing is a chiropractic billing company who removes the distraction of billing from your office so you can focus on changing lives through chiropractic care. Money Tree Billing offers complete billing cycle management through a dedicated and seamless billing process. We empower you and your team with support beyond just billing. Focus on your practice and your passion and we’ll focus on getting you paid. We GUARANTEE our work. Money Tree Billing guarantees if your insurance claim goes unpaid due to our error, that we will credit you the amount you would have been paid on that claim. You won’t find another guarantee like it in the industry. To learn more about Money Tree Billing, and our one-of-a-kind guarantee, visit www.moneytreebilling.com

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Pros and Cons of Billing Cash or Insurance in a Chiropractic Clinic

When deciding whether to bill cash or insurance in a chiropractic clinic, it is important to consider both the pros and cons. Knowing the differences between billing cash and insurance as well as the benefits and drawbacks of each choice will help to ensure the best possible approach for both the clinic and the patients. 

The pros of billing cash for chiropractic services are numerous:

Faster billing turnaround and the ability to serve more patients with fewer delays. Collecting payment at the time of services eliminates the need for administrative paperwork, reducing costs and basically eliminates the billing process. You simply collect payment at the time of service, post the payment, offer your patient a receipt and repeat the process on their next visit.  

Clinic staff can focus more on providing superior patient care. When you remove the distraction of insurance billing, staff isn’t distracted by filing insurance claims, generating/sending patient statements, or other insurance related matters. This problem can also be solved by outsourcing your billing when billing insurance. This will reduce stress, save you time and money, as well as, give you the other benefits to billing insurance without some of the drawbacks.

Patients are more likely to pay in full due to the lower prices the clinic can offer. Cash typically results in a lower overall cost to the patient due to the elimination of insurance premiums and higher deductibles. 

Patients don’t worry about surprise bills if it isn’t covered by their insurance plan. No one likes a surprise bill and it can cause a lot of stress and ultimately deter people from scheduling an appointment and getting the help they need.

On the other hand, there are a few potential cons to billing cash: 

Clinics lose patients who rely on insurance coverage. Many people who have insurance, want to use their insurance, especially if they have decent coverage.  For good or bad, people tend to rely on their insurance coverage when they are injured or ill. So scheduling an appointment at a clinic where insurance is not used can be overwhelming and cause potential patients to go to another clinic that provides insurance coverage.

Cash-only clinics miss out on referrals from other healthcare providers who deal directly with insurance companies. Having partnerships and referrals from other providers, as well as local companies/schools/hospitals in your area, is a great resource to help your clinic grow. In many cases, being in-network with popular insurances for your area, can be a great way to get new patients. If your clinic misses out on that resource it can hold your clinic back and make you play more in other forms of marketing to keep up with competitors.

Those are the pros and cons to billing cash within your clinic. Take some time to look at your target market, your current clientele, your marketing strengths and limitations, and where some of the bottle-necks are in your clinic. Would your clinic benefit from billing cash?  

Knowing all the ins and outs of how your clinic runs and the potential it can have is beneficial when deciding what systems need to be put in place. So, now let’s take a look at the benefits and drawbacks to billing insurance to see if this is the right move for your clinic.

The pros of billing insurance are numerous as well: 

Clinics have a greater chance for growth. When billing insurance, as outlined above, clinics gain new patients from referral sources which can be beneficial to their bottom line, help with growth and community involvement. 

Clinics can submit multiple claims. In most cases, a patient will commit to more care when they feel their insurance is covering part of that care and/or that they are working toward meeting their deductible. Though we’ve come a long way, a majority of the population still has a “since I pay for it, I want to use it” psychology when it comes to their health insurance.

Along with the pros there are also a few disadvantages to billing insurance:

It takes time and money. If you are billing insurance internally, the amount of time it takes to submit, post and follow up on claims can put stress on your staff. It also costs money for continued training for your staff to be up to date on claims, technology, and other billing information.

Higher level of frustration when it comes to discussing insurance-related matters. Billing insurance can lead to a decrease in overall patient satisfaction due to the need to discuss deductibles and other insurance-related matters, which can lead to longer wait times and a higher level of frustration on both the clinic and patient. 

Those are some of the top pros and cons to billing insurance within your clinic. Take some time to look at your target market, your current clientele, your ability to successfully market a cash practice and where some of the bottle-necks are in your clinic. Would your clinic benefit from billing insurance? If you’re worried about some of the disadvantages to billing insurance, then outsourcing your billing is the right move for your clinic.

When deciding whether to bill cash or insurance in a chiropractic clinic, it is important to understand the pros and cons of both approaches. Knowing which one is right for your clinic can help ensure optimal patient care and satisfaction. Ultimately, the best approach will depend on a variety of factors, such as your clinic’s size, location, marketing strategy, and customer base. 

Money Tree Billing is a chiropractic billing company who removes the distraction of billing from your office so you can focus on changing lives through chiropractic care. Money Tree Billing offers complete billing cycle management through a dedicated and seamless billing process. We empower you and your team with support beyond just billing. Focus on your practice and your passion and we’ll focus on getting you paid. We GUARANTEE our work. Money Tree Billing guarantees if your insurance claim goes unpaid due to our error, that we will credit you the amount you would have been paid on that claim. You won’t find another guarantee like it in the industry. To learn more about Money Tree Billing, and our one-of-a-kind guarantee, visit www.moneytreebilling.com.

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Is telehealth right for your clinic?

A lot has changed in just the last three years with how clinics “see” their patients. Every business struggled to provide their clients with alternative options and for the medical field those alternatives were Telehealth and virtual visits. Telehealth and virtual visits offer a wide range of benefits and potential downsides when applied to chiropractic care. Here is a look at some of the pros and cons that come with these new healthcare technologies, but are they right for your clinic and your current clients base?

PRO’s –

Convenience: Telehealth or virtual visits allow patients to receive care from the comfort of their own home, which eliminates the need to travel and wait in waiting rooms. This can be especially beneficial for elderly or disabled patients who cannot make it to their appointments in person. It can also help chiropractors get an initial assessment so patient can provide a description of their condition and medical history to develop an understanding of the root cause of symptoms and formulate a treatment plan.

Flexibility: Virtual visits offer more flexibility for patients to choose when they visit the doctor, as well as expanding the practitioner’s availability to multiple times throughout the day. With more people working from home they are used to a more flexible schedule while they strive for that work-life balance.

Low Risk: Telehealth allows for a safe way to connect with chiropractors since there is no need to physically be present in the same space for every visit.

Cost Efficiency: Since there is no need to travel for the visits. It can save both the patient and chiropractor time and money in the long run.

CON’s

Lack Of Physical Diagnosis: Physical diagnostics and exams cannot take place, making it difficult to diagnose patients.

Technology Failing: Patients and chiropractors might experience technical issues due to lack of connection or equipment such as a webcam or computer. You never know what kind of technology or knowledge of technology your patient might have when entering a virtual appointment. This can make getting connected difficult.

Trust: Trust is a key element in the healthcare industry and virtual visits often make it harder to establish trust between the patient and chiropractor as compared to physical visits. If you can’t physically see or feel the problem area you are relying only on what the patient is telling you. This can make it difficult to come up with a treatment plan through only a virtual visit.

Privacy Concerns: There are privacy concerns associated with virtual visits which can potentially put both patients and chiropractor at risk if taken lightly.

Overall, telehealth and virtual visits offer a convenient and cost-efficient way for patients to receive care from chiropractors. Although there are cons associated with virtual visits, patients and clinics can still benefit from these new technologies while working together to navigate and address the challenges that come with them.

Money Tree Billing is a chiropractic billing company who removes the distraction of billing from your office so you can focus on changing lives through chiropractic care. Money Tree Billing offers complete billing cycle management through a dedicated and seamless billing process. We empower you and your team with support beyond just billing. Focus on your practice and your passion and we’ll focus on getting you paid. We GUARANTEE our work. Money Tree Billing guarantees if your insurance claim goes unpaid due to our error, that we will credit you the amount you would have been paid on that claim. You won’t find another guarantee like it in the industry. To learn more about Money Tree Billing, and our one-of-a-kind guarantee, visit www.moneytreebilling.com. 

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Spring Cleaning your Clinic

Spring is a time of natural renewal; the trees are starting to bud; tulips are in bloom. It is a time of renewed energy that the freshness of spring provides. It is also the perfect time to review your goals and take a “spring cleaning” approach to your clinic. Since this is a natural time of renewal, and the start of the second quarter, consider inviting your staff to join in the process.  Their involvement will give them ownership as well as a positive signal that there might be a few changes as you update and review your goals and freshen up your clinic.

Below are some ideas for spring cleaning and goal review for you and your clinic:

  • Literally review your clinic goals. (If you don’t have goals set, see our goal setting for Chiropractors and Chiropractic Clinics article)  Do a check-in with yourself and your staff to review the goals, what progress you’ve made, and where you may need to pivot. Celebrate the progress or success of goals reached and make plans on how to reach the next goals.
  • Review your policies and procedures. So many things can change, between best practices, insurance changes to how to best market to your customers; now is a wonderful time to review.
  • Review your business plan. Some business owners never look back at their business plan, but this document is meant to be a living document that evolves as your business changes. While some suggest you review the business plan more often, all business experts agree that at least annually is necessary.
  • Check in with your staff. Consider adding stay interviews to your spring to do list. Stay interviews are a terrific opportunity to learn about what you’re doing well as an employer, and areas that you can grow. This also is an opportunity to show your staff that their thoughts, opinions, and suggestions matter to you. Find out what growth opportunities they may be interested in, and how you might support them.
  • Reorganize and declutter – Shred those old documents, get rid of outdated equipment, do the full spring clean thing and simply declutter. It will make your clinic more welcoming and more efficient. This is the perfect opportunity to update décor in your clinic as well.
  • Update equipment. Fix, update, clean and do whatever maintenance you need to do on your equipment, from top to bottom. Maintenance and new upgrades on a regular basis are the best way to protect your investment in our equipment.
  • Clean up! Do the deep cleansing, floor to ceiling. Dust the ceiling vents, shampoo the carpet. There are great local businesses that you can support who can do this task for you for an affordable price. If you do ask your staff to chip in, be prepared to show your leadership by rolling up your sleeves and helping.
  • Check your finances. It has been shown that many small clinics don’t pay attention to their bottom line until it is too late. At least quarterly take the time to do the deep dive into your finances. If you don’t have the knowledge to fully understand, hire help to either do an audit or teach you what you need to know to watch your bottom line.
  • Review your rates – Wages, supplies, utilities…everything has risen in price. Business owners, especially small to medium size business owners, often find themselves almost feeling guilty when they need to adjust their pricing. You are not doing yourself, your staff, or your patients any favors by bankrupting your business. Stay in tune with your rates to be sure you are where you need to be to run a successful clinic.
  • Take care of you. Business owners are highly driven individuals who often run too close to empty. Be sure to remember to take care of you, you deserve it, and we officially give you permission.

Money Tree Billing is a chiropractic billing company who removes the distraction of billing from your office so you can focus on changing lives through chiropractic care. Money Tree Billing offers complete billing cycle management through a dedicated and seamless billing process. We empower you and your team with support beyond just billing. Focus on your practice and your passion and we’ll focus on getting you paid. We GUARANTEE our work. Money Tree Billing guarantees if your insurance claim goes unpaid due to our error, that we will credit you the amount you would have been paid on that claim. You won’t find another guarantee like it in the industry. To learn more about Money Tree Billing, and our one-of-a-kind guarantee, visit www.moneytreebilling.com,

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Submit Button is the Tip of the Iceberg in Medical Billing

We’ve all seen it, the image of the iceberg where the tip of the iceberg shows above ground, but it isn’t until you see the entire iceberg that you realize the true size and scope is massive. Many chiropractors and clinics have been sold a similarly deceiving concept by medical billing software companies.  “If you buy our software your medical billing is as simple as pressing this button.”  For professional medical billing employees and businesses, that assertion is simply so far from the reality of medical billing that they welcome the opportunity to show you the rest of the process, just like the iceberg, the part you can’t see unless you look below the surface. Speaking of below the surface, let us introduce you to the back end of chiropractic billing.

Before any “button can be pushed” to submit your billing, there is a lot of information you need to have available and understand.  You do need a clear and documented plan on how to not only stay on top of medical billing, but also to keep your team educated in constant insurance industry changes, technology or software changes, evaluation code changes, etc. You need to understand the time your staff will need to truly be an effective medical biller and allow for that time. If you outsource your billing to a billing company, you need to make sure they have highly professional and dedicated staff that are invested in and understand these concepts as well. And you must have a firm grasp on the financial health of your clinic. Remember, being able to simply pay your bills is not a good measure of business success.

A few examples of the back end of medical billing are things such as arrears; are you rotating through them and confirming that you were not having any sort of electronic issues? Are the claims erroring out or rejecting? Who is watching at the end of the period? Are you aware of when electronic payments are coming through and What you are getting by paper? Did you get paid for the things you should, and is follow-up needed for anything that didn’t process right? What type of follow-up? Not only do you need to know all of this in general, but you need to know it per insurance company, and per state you work in. How about missing claims? Missing claims simply can’t be avoided.  It isn’t your billing person or billing company, it isn’t a software glitch, it is just a reality in billing. What is the process for evaluating aged claims, claims that are 20-30 days or older? Not a big deal? Timely filing limits are a thing, and those time restraints are important to your bottom line.  Whom do you have available to answer customer claim questions, manage patient statements, payments, and reviewing the account for accuracy? Who is being invested in to continuously go through education to keep up with all the changes?

A common reality for a lot of billing staff, especially in small and medium-sized chiropractic clinics, is that billing is just a part of the job. They are not given the time or space they need to do effective billing. They may be trying to help a customer, answer the phone, and watch the lobby. With all these duties there is never a moment of quiet where serious focus can be given to what is arguably the second most important part of a successful chiropractic clinic.

Being able to pay your bills is great news for you and your clinic, especially in those early years. Whether you are a new clinic or a seasoned expert, your measure of financial success should never be about just paying your bills. Were you able to invest in the clinic, yourself or your staff? What is your patient experience like? Can you do raises or bonuses? Are you growing? Every clinic has its own measure of success, but don’t forget the importance of evaluating what that means for you on a regular basis, and then acting on your findings.

Pushing the submit button truly is the very tip of the iceberg. Understanding and investing in your medical billing system, whether outsourcing or investing in staff, should be considered an integral part of your clinic’s success. We understand that there is a lot to know when it comes to medical billing, and it can feel overwhelming. Sincerely investing in understanding the financial health of your clinic and the role medical billing plays in that financial health means you’ll avoid that hidden back end of billing that lurks below the surface, and you won’t sink your practice.

Money Tree Billing is a chiropractic billing company who removes the distraction of billing from your office so you can focus on changing lives through chiropractic care. Money Tree Billing offers complete billing cycle management through a dedicated and seamless billing process. We empower you and your team with support beyond just billing. Focus on your practice and your passion and we’ll focus on getting you paid. We GUARANTEE our work. Money Tree Billing guarantees if your insurance claim goes unpaid due to our error, that we will credit you the amount you would have been paid on that claim. You won’t find another guarantee like it in the industry. To learn more about Money Tree Billing, and our one-of-a-kind guarantee, visit www.moneytreebilling.com,

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