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THE INDEPENDENT ANESTHESIOLOGIST

June 2021

FINANCIALS

Does Your Group’s Compensation Plan Measure Up?

Take a look at your group’s compensation plan. If you simply measure units produced by your group members – that is, you pay by units only- then you are encouraging fast delivery, not courteous service. On the other hand, if you’ve adopted a fixed compensation system, $X per month as a salary, you’ve taken away the incentive to work harder, and you’ve ignored the notion of an incentive for better performance. What is the best way to evaluate your compensation plan?

Why Customer Service is the Most Important Metric in Anesthesia Billing

In the past 47 years of anesthesia billing, one element has remained a constant: Customer Service is the most important metric in billing. When customer service is top notch, it becomes a win-win for the anesthesia providers and the billing company, creating an unbeatable partnership. Here are a few reasons why customer service is vital in anesthesia billing.

5 Specialties with the Most Physicians at $5M+ Net Worth

At least 6 percent of physicians in five specialties have a net worth of more than $5 million, according to Medscape’s Physician Wealth and Debt Report 2021. Beckers ASC Review shares the specialties where physicians are most likely to report this high of a net worth.

HHS extends Provider Relief Fund use and reporting as healthcare providers continue to navigate the impact of COVID-19.

Congress has approved a combined $187 billion in relief to be directed to hospitals that have experienced losses related to the pandemic. Under the original terms, hospitals had until June 30th to use the money or return it. Over the past several months, hospitals and providers have pleaded with the new administration to provide additional time. On June 11, the U.S. Department of Health and Human Services announced updates to the Provider Relief Fund.

How to Find the Right Revenue Cycle Partner

Sometimes physicians have problems with revenue cycle because “most physicians recieve little to no business training,” says Monte Sandler, CPA, executive VP of revenue cycle management at Experity.

“Their time is better spent seeing patients than something that is not their core competency.”

Many physicians can feel overwhelmed at how to improve their RCM and find a new or right partner to help them achieve their goals.

Build Your Reputation as a Trustworthy Leader

People’s expectations and definition of trustworthiness are broadening for leaders, and it takes a lot to gain that trust. Ron Carucci, with the Harvard Business Review, offers four researched-based practices for leaders to master to earn and keep the trust of others.

New Re-designed and Updated Transparency in Anesthesiology Billing eBook

Make sure you download the free, newly redesigned and updated Transparency in Anesthesiology Billing eBook. This eBook gives you a behind-the-scene look at anesthesia billing, and shares everything your billing company doesn’t want you to know.