Reimbursement is always a hot topic in urologic care, especially with regards to specific procedures. While individual payors may vary with regards to what they pay for specific evaluation and management (E&M) and procedures (CPT codes), almost all reimbursement is ultimately driven by what rates Medicare will pay and/or how many Relative Value Units (RVU’s) Medicare will assign to a specific E&M or CPT code. This post will review reimbursement trends for urodynamics in 2020 (UDS).
If you ended up on this blog post, you are probably thinking about buying urodynamic equipment or are evaluating purchasing options. If you are, I am going to lay out an argument for not buying it. As with purchasing any medical equipment, there are many hidden pitfalls. I want to lay out some of these pitfalls and detail an alternative to buying urodynamics equipment.
Is your OBGYN practice a failing business? BHN (Brighter Health Network) would like to know. So should you.You’re busy. Your parking lot has a brisk turnover and your lunches are hurried. CME costs much more than tuition when you add up the money lost while out of your office. You have good months most of the time, but you also have your “marginal” months. All the more confusing is that today’s shortfall is based on what you did six weeks ago, while the piper who demands payment demands it today.
My company provides advanced diagnostic testing services (primarily urodynamics testing, anorectal manometry testing, and other incontinence related services) to practices all over the country.
Through our work, we are exposed to practices at all profit levels from those that are hugely profitable to those that can barely pay the bills. Based on our work, we have compiled a few ideas below that should help any practice be more profitable. We hope that one or two will hit the mark for you.
Urodynamic services can be added to your medical practice to help increase your net income. The reason for this is that additional urodynamic services can increase your revenue by increasing the cost of the service and lowering reimbursements.
Before you decide to add extra services to draw in potential patients, you’ll want to ask yourself five distinct questions. These questions can help determine if adding additional urodynamic services can benefit your business.
Boosting your practice’s revenue requires you to add additional services for your patients. Some of these services should include nutrition, urodynamic testing, imaging, and an in-house pharmacy. By adding these services, you will better be able to provide your clients with better healthcare. So, how do you know that adding urodynamic services is going to be beneficial for your company?
We want to help you better understand how to give your patients enough services. Below, we will answer some questions regarding the addition of different services, especially urodynamics, and why they are good for you and your clients.
In the past, urologists have enjoyed high profit margins brought on by a slow and steady stream of patients. However, this trend has changed considerably in recent years, with an influx of patients and very thin profit margins. How can the profitability of a urodynamics testing operation be increased? Here, five methods for improving revenues will be discussed.