Chiropractic Software Practice Analysis
Why Do a Dream Practice Analysis (DPA)? Can Dr. Ben help his partners see why he wants to do a DPA when they only see why not? Ben shut his office door quietly behind him and gave a deep sigh. He had a meeting coming up with his partners. He was hoping they’d join him in going through a Dream Practice Analysis. His wife had suggested that he prepare a PowerPoint presentation with the objections he had been hearing in the casual discussions they’d had so far. “That way,” Carmen had said, “you’ll be prepared. You won’t get defensive or go off track or decide to go along with the majority even though you know they’re wrong. You’ll be giving your ideas a fair chance.” Ben wasn’t sure he showed up as well as he’d have liked in Carmen’s imaginary picture of the meeting, and he wasn’t sure how his partners would react if he showed up with a slide presentation, but he figured it was worth trying. So he had put together his slides and now it was time for a final run-through before the meeting. “We don’t need to waste time on dreaming. We’re an established practice,” said the first one. Ben ran through his thoughts on that: how easy it was to get mired in the day to day details and to lose sight of the big picture and how important it was to reset goals sometimes. He found himself speaking eloquently — under his breath, of course — about the value of having an objective outsider helping them to see where they were and how they could step up to the next place they wanted to be. Deciding to try a Dream Practice Analysis wasn’t a criticism of their current practice, he realized, and he wasn’t sure that he had ever made that point in their discussions. The next slide said, “Reducing costs is the key to ROI.” His talks with Carmen had really helped him understand this one. He knew his partners couldn’t see how spending money on software could provide a good return on investment, because they didn’t see it as an investment. They thought of it as overhead, and figured that increasing overhead couldn’t be a good thing. Carmen, with her business school background, could see how the right practice management software could increase revenue and reduce costs, so the investment in the software would pay off. Ben also realized that the practice might need a expert to help them figure out the potential ROI. That brought him up to his next slide: “We don’t want to share sensitive information.” Of course, being careful with information was second nature for any medical practice, but it was clear to Ben that they really didn’t know what to do with their numbers. They had tried to figure out the potential ROI for themselves, but they hadn’t been successful. In fact, if he was honest with himself, he thought they had mostly been confused. Ben decided not to share that observation with his partners. Instead, he figured he’d emphasize the value of having expert insight and help the group determine some parameters that would help them feel comfortable sharing the information that needed to be shared. Finally, Ben turned to a slide that just said, “Opportunity.” He knew that the kind of insights the practice could get from the Dream Practice Analysis with experts who had worked with plenty of other practices would be worth paying for — and they weren’t having to pay. This was an opportunity to get some valuable consultation that would give them important knowledge, no matter what decision they made. Ben saved his presentation to a thumb drive and headed for the conference room. He felt lighter than he had in a while. Can Dr. Ben help his partners see why he wants to do a DPA when they only see why not? Disclaimer: For HIPAA compliance, all characters appearing in this post are fictitious. Any resemblance to actual persons or actual events is purely coincidental.
Client Invoice Lookup – New Feature | Chiropractic Software
With Genesis’ new Client Invoice Lookup feature, you can get a preview of your monthly invoice For everyone who works on the finance side of our client practices, it can provide peace of mind to know where their money is going… and that the right amount is going to work for them. With Genesis’ new Client Invoice Lookup feature, you can get a preview of your monthly invoice, so you can see what you’re going to be billed — before the charges are actually issued. Further, this feature allows you to look at your current invoice, or go back over invoices from any period of time since they’ve been on the system. The Client Invoice Lookup gives you the power to examine individual line items on your invoices, for improved transparency. You know exactly what you’re being billed for, and how much, thereby allowing you to dispute charges you feel were made in error. By taking advantage of this new feature, and seeing exactly how our fees are being applied, you are better able to appreciate the full value of the services Genesis provides.
New Genesis Network Members | April 2014
Ninety-seven new members across fifty-six practices joined Genesis Chiropractic Software and Billing Network in April 2014! There is strength in numbers due to the shared knowledge – we call it the “Billing Network Effect,” as the billing performance of each member practice improves in step with the total volume of processed claims. Each office that uses our chiropractic software will benefit. Please welcome our new Genesis network members: Cassidy Karls of Action Chiropractic, LLC, Steamboat Springs, CO. Megan Grimes of Advanced Chiropractic, Yuba City, CA. Linda Banman, Michael Banman and Jessi Rattink of Aligned Chiropractic Corporation, Kelowna, BC, Canada. Ann Wise of Art of Life Chiropractic, Nolensville, TN. Carol Berg of Back On Track Family Chiropractic, Chippewa Falls, WI. Jodi Belter and Emma Kronebusch of Back To Health Chiropractic And Wellness, Winona, MN. Devon Smith of Bartholomew Family Chiropractic, Ithaca, NY. Jenny Berry, Kaylea Cohen, David Phllips and Paige Samora of Benchmark Medical Group, Inc., Windsor, CO. Rebekah Kumm of Bridge to Health Chiropractic, Hillsboro, OR. Brandon Bishop, Sharon Camp, Dr. Trent Camp, Dr. Andrew Chas, Sarah Craig, Cori Demott, Audra Emerson, Laura Foskey, Jennifer Haldas, Sandee McMullen, Amanda Nichols, Nikki Patel, Megan Shand and Krissy Shorb of Camp Chiropractic, Inc., Middletown, DE. Andy Brooks of Carolina Chiropractic Of Charlotte, LLC, Charlotte, NC. Jessica Stanziale of Central Jersey Spine & Wellness, LLC, Freehold, NJ. Amber Stewart of Dr. David S Chalke Chiropractic PSC, Paducah, KY. Maria Gonzalez of Claborn Chiropractic, Corp., Granada Hills, CA. Alexis Mcleod of Columbia Family Chiropractic, Columbia, SC. Esperanza Marin of Connected Chiropractic, LLC, Johnstown, CO. Alli Damas of Courtley Chiropractic, Lenoir City, TN. Dr. Katally Strauss and Dr. Seth Strauss of Creation Health, LLC, Mt. Pleasant, SC. Meagan Simmons of Crouch Family Chiropractic, Bowling Green, KY. Janice Barthel of Delano Chiropractic Center, Delano, MN. Laura Dilday, Dr. Christi Shuppe and Dr. Jake Shuppe of Family Healing Chiropractic, Charlotte, NC. Joann Huff of Fort Bend Corrective Health Center, Missouri City, TX. Sandra Herbenson and Erika Urban of Hallie Chiropractic, Chippewa Falls, WI. Chad Huston of Heritage Family Chiropractic, Olathe, KS Lisa King of Integrated Spine & Disc, Mandeville, LA. Dr. Melanie Gartside and Brad Holtgrave of Invision Family Chiropractic, LLC, Bentonville, AR. Jodi Ebert and Brittany Holzer of James E. Judge, St. Charles, IL. Sarah Mancha of Keen Family Chiropractic, Austin, TX. Meaghan Martin of Life Is Good Chiropractic, LLC, Brodheadsville, PA. Amanda Childs of Livingood Family Chiropractic, Cary, NC. Janette Tlaseca of Lombard Chiropractic, Lombard, IL. Cameron Nyman and Milton Sniadach of Longmont Spine and Physical Medicine, Longmont, CO. Lauren Nicholas of Maryland Chiropractic, Silver Spring, MD. Zulma Valerio of Milonas Chiropractic, Naperville, IL. Dr. Brent Fetzer of New Life Chiropractic, Brentwood, TN. Joanna Munoz and Heather Pfeiffer of Next Level Health, Rockford, IL. Yolanda Barbosa, Veronica Ortiz and Tierney Rattler of North Dallas Chiropractic Center, Dallas, TX. Adam Ponchick of Pacific Spine & Joint Medical Group, Inc., Daly City, CA. Erin Cleary of Paris Chiropractic, Rockville, MD. Stephen Ramirez, Fija Reed and Nicole Stasio of Postureworks, San Francisco, CA. Dr. Jacqueline Buscemi of Proactive Chiropractic, LLC, Rockville, MD. Linda Blackshear of Pss Injury Wellness – E D Schneider DC PC, Atlanta, GA. Leslie Clements and Dr. Marty Lorentz of Purpose Chiropractic, LLC, Onalaska, WI. Britteny Robrahn of Rivertown Family Chiropractic, LLC, Grandville, MI. Dionna Couch and Lauren Oldham of Rock Springs Family Chiropractic, Smyrna, TN. Kent Gallego and Birgit Hefler of Shin Wellness, LLC, Miami, FL. Vicky Letson of Sports & Spine Chiropractic, Dallas, TX. Penelope Ortega of Stability Spine & Wellness, Seattle, WA. Olivia Schinski of Summit Family Chiropractic, Coeur D Alene, ID. Sheryl O’Toole and Kristine Sharpe of Sweeney Chiropractic Wellness Center, LLC, Franklin, TN. Dr. Khaled Azizi, Zoe Frassetto, Stephanie Knaeble, Ryan Mahrt, Robin Rath and Koreana Schmittat of Symmetry Spine And Wellness Center, Alameda, CA. Dr. Kayla Glover of Tri-City Family Chiropractic, LLC, Arlington, TX. Desiree Pardo of Trinity Chiropractic – Bohemier, Naples, FL. Joessa Austin of Woodbury Family Chiropractic, Woodbury, MN. Cortnie Belmonte and Dr. Robert Belmonte of Woodland Family Chiropractic, LLC, Kentwood, MI. Soria Mam of Zenaptic Chiropractic, Vancouver, WA.
Finding a Standard of Success
“How are you doing? How are your KPIs?” On a personal level, that question seems easy enough to answer. But when it comes to your practice, it’s not so simple. With so many factors in play — from patient visits to billing, from revenue to workflow — it can be a challenge to have everything go smoothly at the same time. Not only that, but it’s difficult to determine a proper standard by which to judge your practice performance. Ultimately, your bottom line depends on multiple Key Performance Indicators (KPIs) that together paint a picture of your business. A quick comparison of your KPIs to industry standards may also point to potential opportunities to increase cash flow, identify areas for potential growth, and even improve employee morale. One of the first KPIs to consider is Average Visit Duration. This is not merely the amount of time you spend with a patient, but also includes the time that you spend on billing, documentation, scheduling and other “overhead” related to that patient’s visit. For chiropractors, who tend to see many patients for brief visits, the Average Visit Duration highlights — once you subtract the time that’s actually spent on patient care — how much is wasted on the “busywork” of running a practice. Another KPI that’s a key concern is Annual Patient Visits (APV). This figure is derived by dividing the number of patient visits in a given year by the total number of patients seen during that year. An APV that is substantially lower than the industry average suggests that too many patients may be terminating their treatment before they complete it — and that could be seen as a compliance risk. On the subject of revenue, it’s a good idea to look at your Pay Per Visit (PPV). The PPV is the average pay for all of your services that you receive for one visit — including both the patient’s copay and the insurance reimbursement. In order to calculate your average PPV, just count all the payments you received over the course of one month, and divide it by the number of patient visits you had in that month. When comparing your PPV to the industry average, a lower number indicates that you are likely not getting fair reimbursement from insurance companies. And finally, if you take your APV and multiply it by your PPV, you get the PV, or Patient Value. This amount reflects the total payment for a single patient over the course of a year. In and of itself, a low PV doesn’t present an audit risk, but it does pose a different kind of problem: When your PV dips below a certain level, it’s your bottom line that suffers, and it becomes more difficult to stay in business.
