Download Support Tool At its very core, the practice fee system can be explained in a series of “either/or” scenarios. It starts by explaining that all the fees in our practice are either “actual” fee or “discounted” fees. From there, discounted fees are either “imposed” or “elective”. A keen understanding of this concept is essential…

Actual fees, contracted fees, regulated fees and elective discounts all comprise your practice’s fee system. A robust understanding of how your fee system should work is essential to establish a compliant fee system. In order to evaluate whether your current fee system needs attention, you must start somewhere. Begin your training on fees with this…

Download Support Tool There are a variety of patient types and each of them must be considered when making a business decision with regards to the practice’s financial set up. If you decide to accept all patient types, you will need to count the cost. This can only be done by properly evaluating what is…

Download Support Tool This image provides an overview of the KMC University Financial System but with a twist. It captures the processes for a for a clinic that is strictly cash-based. Take a closer look to see what cogwheels are missing (faded). Remember each cogwheel represents a procedure with necessary processes for reimbursement. If a…

An informed business decision requires knowing the facts and ignoring the rumors. For example, can you see Medicare patients as a cash-based practice? Can you bill personal injury if you are truly cash-based practice? Once you build an insurance reliant practice, do you have to remain enrolled with all payers?  Is there a way to…

What Will Be Expected of Me? When we have to decide about something, we often ask, what will be expected of me? For example, before becoming a Doctor of Chiropractic, most providers likely reviewed everything that would be required: schooling, duration, location, job placement, income, and maybe even overhead cost. Each doctor weighed the pros…