Cash
Jul 24, 2018David Kats: Hi, this is Dr. David Kats and Dr. Michael Perusich. We have a video tip for you. Most people now are thinking about moving to a cash basis, either to a total cash basis or a partial cash basis. You have to decide what to do in your practice because insurance companies are paying less and less and less every year. Just this year, their deductibles went way up and the-- What they're paying went way down.
Michael Perusich: Yes, the reimbursement trends keep going down. Analyze your practice. We recommend doing an excel spreadsheet, and if you're a member, we already have that spreadsheet built for you, get it on the back office, but we recommend that you analyze your insurance companies and see what your reimbursement is compared to what your fees are. You may be really surprised. You may find that many of the codes that you're submitting to insurance are not getting paid well.
David: Yes, as a result, you'd probably be better either going to cash with that insurance company or going all cash. Analyze your practice and think about it. Sometimes we have to think about this idea three or four or five times before we finally decided to make the move. We wanted to bring it up to you, you store it in your mind, decide when's the right time for you to go either little more cash or all cash. This is Dr. David Kats and Dr. Michael Perusich. Thanks for listening
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