It is exciting for physicians to grow their medical practices, but with expansion comes added responsibility. When you are growing your practice, it is important that you follow proper risk management procedures to keep you safe from the threat of a lawsuit. To that end, here are five tips for medical practice risk management that you can put to good use when you are growing your practice.
1. Encrypt Your Data
One of the most important things that a 21st century medical practice must do is to encrypt its data. The threat of medical data theft is one of the biggest nightmares that a medical practice can face. Make sure that you consult with an IT professional so that your data is safely encrypted to avoid the threat of a breach that could cause a HIPPA violation.
2. Learn the Medicare Billing Requirements
One of the biggest hassles you can face at your medical practice is a Medicare audit that uncovers mistakes in your billing practices. To prevent this, you must understand the Medicare billing practices correctly and thoroughly. Make sure that whoever handles the billing in your office knows the Medicare billing regulations well.
3. Perform Regular Internal Audits
Even if the billing specialist in your office knows the Medicare billing regulations well, it is still important that you perform regular internal audits to uncover any Medicare billing mistakes. It is much better if you can find these errors before a Medicare audit uncovers them.
4. Design Custom EHR Templates
Many medical practices these days are making the switch to electronic health records (EHR). While this can be very helpful for your practice, it can also cause you problems if the EHR are used incorrectly. To prevent this, it is important that you design custom EHR templates for your practice. When you have designed a template that meets the needs of the healthcare workers in your office, they will be much less likely to make mistakes with them.
5. Limit the Templates
While it is important to design the perfect EHR templates to meet the needs of your medical practice, you don’t want to go too crazy with them. You should limit the number of templates that you use at your practice. If you have hundreds of different templates, it will be impossible for the healthcare workers at your practice to understand them all. It is much better to pick a few excellent templates that you can use for all areas of your practice.
Eric Vainer is the CEO of Dear Feet and the Director of Pala Community Care. He is also an expert on corporate culture and a heralded entrepreneur from New York.