Choosing The Right One

When you just need a little something extra, some time to escape, and perhaps a little pampering, you can’t go wrong by heading to your local medical spa. Medical spas, or medspas, as they’re sometimes called, are facilities which have a medical focus to the relaxing atmosphere commonly associated with day spas.

These businesses offer minimally invasive services for individuals hoping to improve their appearance and sense of being without the hassle of surgery or an extended recovery time. In this article, we will outline a few tips to help you decide which practice is right for you!

Questions:

1. Who is the director?
These facilities should be overseen by a qualified physician whose specializes in the skin-related or aesthetic fields. A good example would be a dermatologist or plastic / cosmetic surgeon.

2. Where is it located?
Does the director have a local office, or does he practice in a different area? In the case that the doctor is not nearby, take note. This may be a warning sign.

3. Is the doctor readily available to see patients at the spa in order to answer questions or in case of complications?
You should keep in mind that procedures such as injections (fillers, Botox, etc,), certain facial peels, and laser hair removal and each medical procedures which need be performed by a trained professional with the same type of care you would expect in a doctor or surgeon’s office. If you find yourself in a situation that needs addressing, the director should be available to discuss your options.

4. What type of schedule does the physician have?
Knowing that the physician keeps a set schedule with which to evaluate patients is very important. This is a good sign that the doctor plays an active role in the business and that they would be available to see you if needed.

Medical Supply or Medical Testing Company

Although many experts speak of gloom and doom in the medical industry, the fact is that this industry keeps growing by leaps and bounds. Every year, the demand for medical services, medical testing (e.g. MRI Centers, Testing Centers, etc) and medical supplies keeps getting stronger. This trend is expected to continue as the population ages.

However, even though the growth trend looks good, running a medically related business keeps getting more and more challenging. In the past, doctors and medical suppliers could expect to get large and quick reimbursements for their services. Cash flow was reasonably easy to manage. However, Medicare, Medicaid and 3rd party insurance companies have put in place strict compensation guidelines. These guidelines can be summarized in two simple points: you can look to receive less money than before and you should be prepared to wait longer to get paid.

This creates a financial “perfect storm” for medical industry companies. On one hand, you are getting paid less and waiting longer for your money. On the other hand, your operating expenses remain the same or perhaps are higher. You still need to pay your employees and your suppliers. In almost all cases, this limits your ability to pursue new opportunities and grow your business. In some cases, it may even threaten your ability to continue to operate your business.

Is there a way to “fix” the cash flow problem?

If your business’s main cash flow problem is not being able to afford to wait 30 to 90 days to get paid by insurance companies and Medicare, then factoring your invoices could be the right solution for you.

The factoring proposition is very simple. Factoring is a way of financing, in which a factoring company provides you with advance payments based on your outstanding accounts receivable (or invoices). You get funding as soon as you invoice. The factoring funds it and waits to get paid until the insurance companies or Medicare pay the invoices.

Factoring has advantages over loans and lines of credit. First, factoring financing lines do not have arbitrary limits. The maximum amount of monthly financing is solely determined by your ability to invoice. If your business grows, your financing grows automatically. Also, factoring companies don’t require the same collateral that banks do, so new businesses or doctors’ offices can usually qualify easily.

How does medical work?

The process is fairly simple. Once an agreement is established with a factoring company, it works as follows:

1. Your office submits your weekly (daily or monthly) billings to the insurance company and to Medicare/Medicaid. (note: sometimes this task can be handled by the factor on your behalf)

2. Your office sends a copy of the billings to the factoring company.

3. The factoring company advances you up to 85% of Net Collectables within 48 hours. Funds are sent by wire or direct deposit. The remaining 15% is called a “reserve” and used to settle billing discrepancies at time of payment. This is returned to you once the invoices are paid.

4. The factoring company waits to be paid by the insurance company or Medicare/Medicaid.

5. Once the factoring company is paid, they settle out the transaction and rebate you the remaining 15%, less their fee.

Cost efficient Medical Transcription Outsourcing

The job of transcription is done by well trained transcriptionists. Medical Transcription Outsourcing from India has lately been a favorite option among foreign companies. There are many reasons that are making outsourcing an easy process for them.

The Medical Services Outsourcing has been a convenient option because it saves on the infrastructure of building a separate department for transcription and also saves you the time of training them for the same. It is cost-cutting and suitable also. In fact, other advantage that keeps them from the meticulous process is that, in India there is cheap labor and so it gives you a leeway to keep the costs low and in budget. The experts and the transcriptionists in India are very well trained to know the minor nuances of this job and they are even highly skilled with their English language. They have quite good knowledge about the medical jargons used and the terms that the doctors use to avoid any flaw in the reports as it is extremely crucial. Any mistake done can cost a great deal as it is based on these reports that the doctors would further continue with the treatment of the concerned patient. It is a job of high responsibility.

Transcription in India is also very suitable when the doctors want a faster turn-around of the reports i.e. they get the transcribed reports at a much faster rate. Many young people are willing to work hard for this process and are increasingly seeking a job in the field for the same. So it has become a very high seeking job for better returns and their interest in the medical field if they have no medical qualification also. Countries like USA have been merging with many institutes in India for getting their process of transcription done. This has also been a great influence in the countries having communication and business together which is good for economy of both the countries.

If not directly, they hire agencies to conduct the process of transcription for them. The transcription companies make sure that their clients demands are met right on time and also the accuracy is well taken care of. They take care that the quality of reports is also very high. The Medical transcription outsourcing helps you focus on your own business management and helps to concentrate on the smooth functioning rather than just wasting time with the medical transcription work. It opens doors for new talent and employment opportunities increase multifold for aspiring transcriptionists.