Is Your Private Practice Ready for Growth in 2014?

Lea Chatham January 31st, 2014

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Position Your Practice for Growth

by Laurie Morgan, Capko & Morgan

A month into 2014, it’s still hard to gauge whether the Affordable Care Act (ACA) will eventually bring a rush of new patients into private practices. Data about patients who’ve signed up and are actually enrolled (and paying) are still hard to come by. Some patients have actually lost coverage: will new sign ups deliver net gains, beyond just replacement coverage for those who were dropped? What’s more, with open enrollment extending through March 31, it’s still early for people who might be procrastinating.

Given this uncertainty, how should practices prepare?

First and foremost: preparing for growth makes your practice stronger, regardless of the ultimate impact of ACA enrollment. Tweet This

When you’re ready for growth, you’ll be able to handle it whether it comes from the ACA or your own marketing. What’s more, reinforcing your practice’s processes and procedures to accommodate more patients is also one of the best ways to serve your existing patient base more efficiently – which can lead to more satisfied patients, who in turn can refer others to your practice.

Getting ready for growth also means making sure everyone in your practice understands how to capture all the revenue your practice earns – whether that requires learning the details of new health plans under the ACA, tapping into the Medicaid parity increase, or accessing new revenue sources like per-patient payments for medical homes.

Are you ready for growth in 2014? For more ideas on how to bolster your practice operations to capture revenue and prepare for more patients, join me on February 6 for “Positioning Your Practice for Growth: Responding to the Dynamic Market for Healthcare,” a free Kareo webinar hosted by Physicians Practice.

Register Now!

About the Author
Laurie Morgan is a senior consultant and partner at Capko & Morgan. She managed both start-ups and large-scale operations in the media industry before turning her focus to medical practice management. Her consulting focus is on driving and capturing revenue and operating more efficiently. Laurie has an MBA from Stanford University.

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