If you’ve ever felt overwhelmed by the complexities of medical billing and practice management, “Thrive: Top 10 Ways to Boost Your Practice’s Revenue” by Dr. Heather Signorelli is the resource you didn’t know you needed. Written by a physician who understands both the clinical and business side of private practice, this book breaks down the essentials to help you take control of your billing, streamline operations, and boost your bottom line.
A Physician Perspective
“Thrive” is more than just another billing manual. It is a practical guide for physicians who want to streamline their billing processes and improve practice revenue without getting bogged down in the complexities. Drawing from her experience as both a physician and a practice management expert, the author breaks down the essentials of medical billing, coding, and revenue cycle management into ten actionable tips in the book.
It is refreshing to hear about practice management from an experienced physician voice. Dr Signorelli’s sizable street cred in this area comes from being the cofounder of NatRevMD: a full service revenue cycle management company- and therefore being in the weeds of these processes, all day every day.
Don’t confuse Doing the work with Getting paid
I read recently a post on social media, of a group of gastroenterologists, who had a busy practice, by their own account- and yet were having trouble making payroll. Sounds like they’re doing the work but not getting paid for it. Which is really unfortunate. The problem must lie somewhere in the revenue cycle management process- which, by the way, starts the moment a new patient makes their first contact with your practice- NOT down the line, when you have submitted your claim for work done. And Dr Signorelli helps you understand how it all ties in.
The book is all about helping you reclaim financial control of your practice. It covers everything from understanding the coding and billing process inside out to making sure your front office is a revenue-generating powerhouse. Dr. Signorelli emphasizes the importance of verifying insurance eligibility upfront to prevent denials, getting familiar with coding to ensure accurate claims, and setting clear procedures (SOPs) for your team.
The author brings up vital points like the differences between HMO and PPO plans. I learned these things the hard way myself, when I first started. My first year in my practice, ALL of my denials were because I had no idea what an HMO was and what I thought of as a referral is not the same thing that the insurer meant. Lesson learned.
Dr. Signorelli also dives into the metrics we need to follow like clean claims rate, days in accounts receivable (AR), and denial rates, explaining why these numbers matter and how tracking them can improve cash flow. Why? Because in her words, “What we don’t measure, does not change”.
She brings up important topics like compliance and gives us a glimpse into EOS (Entrepreneurial Operating System): all ways to help our practices do more without us sacrificing patient care or personal time. On this note, she reminds us to leverage the power of teams so our businesses work for us and not the other way around.
“Thrive” is about using technology to your advantage every step of the way and utilizing data analytics to make informed decisions. The advice is straightforward, actionable, and tailored to the day-to-day realities of running a private practice, all without having you break up in hives.
In Summary
If you’re looking to clean up your revenue cycle and get paid what you deserve, “Thrive” is a solid resource to help your practice reach its financial potential. It cuts through the noise and gives you clear, actionable steps to improve your practice’s billing processes, revenue cycle, and team efficiency.
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