Guest Blog: How Do You Manage Aged AR in Your Practice?

Posted by Jerry Godwin on Thu, Nov 05, 2020 @ 09:11 AM

This year has been tough on all practices. Many are trying to figure out how to bounce back from months of being closed, re-open the practice and face the many patient care challenges. With most practices collecting on the current balance of your accounts receivable (AR), your aged AR (>60-days) is growing. Take a proactive look at  the collectability of your balances with greater than 60-days outstanding.

An efficient process for AR should provide the cash flow necessary to cover current expenses. The more efficient your AR process, the quicker you collect the money you have earned and increase profits. During these stressful times, you cannot afford to leave money on the table or be slow in collecting past due balances. Lets get into the advice that Optometric Medical Solutions (OMS) can offer to help:

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How to Turn Electronic Claims into Money

Posted by Jeff Rezabek on Mon, Nov 02, 2020 @ 13:11 PM

In the eyecare industry, managing claims is an important piece of the revenue stream; especially as more online retailers cut into your frame sales.

However, many practices struggle to effectively turn their electronic claims into revenue from payers, forcing the practice to write-off services or charge the patient more than they were expecting.

This post shares some strategies your optometric biller can use to turn electronic claims into money.

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How Patients Can Use Flex Spending Dollars at the Optometrist

Posted by Madhu Singh on Wed, Oct 28, 2020 @ 08:10 AM

It's time for the rush of patients scheduling appointments to use up the money left in their FSA or HSA accounts. If you're not experiencing an influx of appointments, give your patients a gentle reminder that your optometry services can be reimbursed with a flexible spending account (FSA), health savings account (HSA), a health reimbursement arrangement (HRA).

In order to qualify for end-of-year benefits, patients simply have to have their exam and order their products in the 2020 calendar year. Then, they can pick the products up whenever they're ready, even if that's in 2021. Here are a few more tips to encourage your patients to book their exams and buy from your dispensary before the year is up.

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3 Articles To Help Improve Your Optometry Practice

Posted by Madhu Singh on Thu, Oct 22, 2020 @ 08:10 AM

Hearing the advice and stories of fellow ODs is helpful when you're nervous about making a big change, looking for inspiration and goal ideas, or even just wanting a peek into other practices. That's why we're addicted to reading and sharing stories of optometrists that are getting creative with their team or leveraging new technology.

Big optometry publications like Review of Optometric Business and Women in Optometry connect their readers with snapshots into the practices of success ODs around the nation. We've picked three articles that we think could be helpful for your practice growth right now before the end of the year.

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Paper to Paperless: Overcoming the Fear of Change

Posted by Madhu Singh on Wed, Oct 21, 2020 @ 08:10 AM

No matter what industry you work in, there are countless reasons and tips published online for no longer relying on paper in your office. In addition to being eco-friendly, going digital is efficient for finding and accessing information and reducing filing or administrative headache for your staff.

However, a handful of practices are stuck using paper because of their fear of change. While this is a reasonable fear, the benefits of switching to an Electronic Health Record system far outweigh the comfort of sticking with what you know. Let's go over the first three steps to feeling less scared about switching.

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