Carefully examine insurance participation. Practices should review patient insurance participation each year. The doctor and financial coordinator should be aware of important data such as what percentage of total practice collections is generated by insurance, what insurance plans pay the highest reimbursement rates, which ones the lowest, which ones are provided by local employers, etc. This information will help the practice make the best decisions regarding insurance participation.

Management Monday: Read a free excerpt from Dr. Roger P. Levin’s popular book, Practice Finance. Go here and click on the “Read an Excerpt” button.