Welcome to the inaugural episode of The ProfitRx, hosted by Josh Fertel, where we dive into the world of transforming the financial struggles of medical practices into thriving profits.
In this episode, Josh Fertel who brings a wealth of experience from both the car business and the medical billing industry shares his journey from managing car dealerships to establishing a successful medical billing company. With candid insights, Josh explores the challenges medical providers face in finance, the importance of exceptional customer service, and how small changes in practice management can lead to significant financial gains.
Tune in to hear firsthand how Josh and his team help medical practices uncover hidden revenues and ensure profitability while maintaining outstanding patient care. Whether you're a medical professional or simply curious about business growth in the healthcare sector, this episode offers valuable lessons and advice. Don't miss this chance to learn how to turn financial aches into profits with Josh Fertel on The ProfitRx.
Timestamps:
00:00 Recovering: Learning Medical Billing
03:56 Entrepreneurial Journey in Medical Billing
09:58 Medicare Chronic Care Management Profitability
11:51 Striving for Continuous Improvement
14:09 "Importance of Practice Role Alignment"
17:39 Insurance Reimbursement for Holistic Care
22:17 Incremental Earnings Visualization
25:54 Navigating Team Challenges in Tech
27:45 Challenging Communication with Stubborn Clients
31:07 Understanding Your EOB Payments
34:20 "ProfitRx: Boost Medical Profits"
7 Key Themes Discussed in This Episode:
1. Entrepreneurial Journey
- Josh's career and move to entrepreneurship.
2. Medical Billing Insight
- Transition from car sales to medical billing.
3. Customer Service Importance
- How exceptional service sets businesses apart.
4. Challenges in Medical Practices
- Common financial mistakes and solutions.
5. Chronic Care Management
- Benefits and strategy for revenue improvement.
6. Team Building in Business
- The significance of having a knowledgeable team.
7. Hidden Revenue Opportunities
- Identifying and harnessing small financial changes.
The ProfitRx - Podcast Website - https://theprofitrxshow.com/
Josh Fertel's LinkedIn - https://www.linkedin.com/in/josh-fertel-439815b4/
J3RCM Website - https://www.j3rcm.com/
TopHealth Media - https://tophealth.care/
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