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HEALTH CHECK

GIVE YOURSELF A FINANCIAL HEALTH CHECK

While it is hard for most doctors to admit, the chances are that they have been losing money for years - are you one of them?

To find out, carry out your own billing audit by establishing:

• How much you are owed

• How old your debt is

• How much of the debt is collectable or needs to be written off

• Which patients owe you the most money and decide if they are a risk

• If your treatments are being coded correctly

• If your codes are being accurately billed per insurer

• If you are billing at the market rate

• How far behind with the billing you are - what date was the last clinic that you billed

Once all of the above is known, then you need to decide what action you need to take in order to gain control of your finances and to stop losing money.

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