Category: Uncategorized

Still Not Using EMV in Your DME Business?

January 27, 2016 Posted on Categories Uncategorized

By Michelle Tohill

Last October, the United States adopted EMV standards, requiring a new card reader for most retailers accepting cards. This new structure adds costs to an already stretched DME business, but it is essential to reduce the risk of being liable for credit card fraud, which could destroy your business.

A lot of the information available about EMV makes it seem complicated. Here is a simple review of what it is and what you should do about it:

>> EMV cards have drastically reduced credit card fraud in other countries, and it is hoped they will have the same impact in the US.

>> Beginning Oct. 1, 2015, US retailers that do not offer EMV processing machines are liable for credit card fraud conducted at their business.

>> The majority of US credit cards are now distributed with EMV chips, and most consumers are becoming familiar with the use of EMV chips vs. the traditional swipe method.

>> Many retailers have been frustrated about EMV-compliant hardware and software, which adds both hard costs and training time.

>> Although new EMV procedures can be frustrating and expensive, not implementing them means you are at risk for fraud liability.

To get started with EMV, speak with your retail card services or billing vendor. At Bonafide, our team is ready and willing to support you in making the transition to EMV. Let us know if we can help!

10 Questions to Ask About Electronic Health Records (EHR)

June 19, 2015 Posted on Categories EHR, Electronic Health Records, Electronic Medical Records, EMR, Medical Practice, Medical Software, Uncategorized

by Michelle Tohill

Electronic Health Records (EHR) software can significantly improve your practice on almost every level. But since the average cost to purchase and install an EHR system ranges from $15,000 to $70,000* per provider, you want to be really smart about making the right choice.

Here are some questions to help you determine what matters most to you. Rank the following options in terms of highest to lowest importance:

1. Cost

2. Fee structure (e.g. subscription vs. installed)

3. Ease of use

4. Technical support

5. Opportunity for software customization

6. Practice management system integration

7. Billing system integration

8. Eligibility verification included

9. Staff training

10. Software update schedule (e.g. daily, quarterly, annually)

If you are currently using an EHR, are you happy with its performance based on the above conditions? If you are getting ready to start “shopping” for a new EHR, take these conditions with you and ask the companies you are interviewing how they perform on each level.

Michelle Tohill is Director of Revenue Cycle Management of Bonafide Management Systems and oversees all billing programs and processes. Her specialty is conducting AR audits to expose inefficient billing practices that fail to fully reimburse physicians for their work. She conducts AR audits and provides Bonafide customers with training and consulting on how to improve every aspect of billing and practice management to maximize revenue.

*www.healthit.gov/providers-professionals/faqs/how-much-going-cost-me

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The Front Office: More Than Just the Face of Your Practice

June 5, 2015 Posted on Categories Billing Service, Documentation, Medical Practice, Medical Software, Uncategorized

by Michelle Tohill

You never get a second chance to make a first impression – we’ve all either been told that or realized that on our own. Experts say that we form opinions about new people in 30 seconds to 2 minutes – that’s not a lot of time and the opinions we form can last and be hard to change.

This first impression theory applies to the front office of your medical practice, too – and it’s important for your front office to know the power they hold in keeping your practice successful.

Not only are they the gatekeepers in charge of the obvious tasks like greeting and scheduling, but your front office should also be doing a few other things to make sure your office running smoothly and maximizing revenue.

Your front office often operates at a frenetic pace with phones ringing, faxes and emails coming in, patients arriving for appointments, so it’s important for them to stay organized and on top of important things like patient information. If an patient interaction slips through the cracks, it could lead to high levels of frustration and a loss of revenue.

In addition to a friendly smile, your front office should also manage these things to keep your office running smoothly:

– Patient information collection & management

– Insurance verification

– Payment collection

– Insurance claim submissions

– Coding Compliance

– Balance reviews and collection take out

– Scheduling next appointments/tests/scriptsfilm Boyka: Undisputed IV online

– Organize visit information

Luckily, much of the above can be streamlined with the right Practice Management Software (PMS). If you get a system like Bonafide, managing patient information and maximizing your medical billing be seamless for you, your front office staff, and your patients.

So go buy your front office staff lunch this week – what they do makes the whole office run smoothly!

Michelle Tohill is Director of Revenue Cycle Management of Bonafide Management Systems and oversees all billing programs and processes. Her specialty is conducting AR audits to expose inefficient billing practices that fail to fully reimburse physicians for their work. She conducts AR audits and provides Bonafide customers with training and consulting on how to improve every aspect of billing and practice management to maximize revenue.

Subscription Software Model On the Rise – What It Means For Medical Practices

May 20, 2015 Posted on Categories Medical Practice, Medical Software, Practice Management Software, Uncategorized

by Michelle Tohill

The software industry is gradually changing from one-and-done licensing purchases like Microsoft Word and Excel to ongoing subscription models in which businesses pay a monthly fee and in exchange get constantly-updated software along with technical support.

This move makes a big difference along a number of factors, including lower start-up costs, lower staff training requirements, and the promise of ongoing software support and improvements.

Many medical practices are moving to subscription-based practice management software. Before jumping on the subscription bandwagon, it pays to compare licensed practice management software to subscription practice management software. By making the right choice up front, you can avoid costly changes down the line.

Licensed Practice Management Software

Licensed software has the benefit of paying just once, up front, with no strings attached. But there are certainly some pretty significant negative drawbacks as well, including:

– high upfront costs
– no support with installation and setup
– no training for employees
– no access to constant updates, and often updates require re-purchase
– little to no customization options for specific needs and customization

Subscription Practice Management Software

With a subscription-based model, you are engaging in a longer-term relationship with your practice management software vendor, and you will be paying on a regular basis for access to the software. The advantages include:

– low up-front costs
– installation and training provided
– access to support team
– trouble-shooting support
– cloud-based, seamless software updates
– customization often available

Bonafide’s Solution

At Bonafide we have switched entirely from licensed software to a comprehensive subscription model because we believe our customers benefit from the ongoing support and interaction provided with the subscription software model.

Even better, our practice management software is included free with our top-notch billing service. This means that customers get free software with excellent support and they only pay a small fraction of their revenue for it. We think it’s a great model that is benefiting our customers in all sorts of ways. Let us know what you think!

Michelle Tohill is Director of Revenue Cycle Management of Bonafide Management Systems and oversees all billing programs and processes. Her specialty is conducting AR audits to expose inefficient billing practices that fail to fully reimburse physicians for their work. She conducts AR audits and provides Bonafide customers with training and consulting on how to improve every aspect of billing and practice management to maximize revenue.

 

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Bonafide Management Systems 241 Lombard St.
Thousand Oaks, CA 91360

805-908-2333 info@bonafide.com
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