In its annual report, the 2008 Top 20 Best in KLAS: Software & Professional Services, KLAS, an independent healthcare IT vendor research firm, also ranked 3M Health Information Systems as the second highest-performing software vendor across all market segments.

1. The instant response mindset - Bemis says that nurses are used to getting an immediate response to their work, however, it’s important to break out of that “instant gratification” mindset because it takes time.

2. The “I can do it myself” mindset - Out of fear of criticism, nurses tend to have the mindset that to “gather all the information and put it into a certain arrangement…before involving another team member.” Bemi suggests for nurses to involve business support team members early on in the start-up process.

3. The desire for perfection mindset - Bemis also advised for nurse entrepreneurs to deviate away from the need to do everything perfectly because “this mindset leads nurses to overlook opportunities that arise while seeking that elusive perfection.”

Click here for more information about Pat Bemis and the NNBA.

Click here to view the entire post on Cleveland.com.

“We are extremely pleased that our customers have again ranked us number one,” stated Sue McGrogan, Chief Operating Officer of Transcend. “We believe that being in the best in our industry requires more than maintaining a relentless focus on providing high quality reports on time to our customers, as important as that is. It also requires that people in every area of our organization are available and responsive to our customers’ needs. I am extremely proud of our operational team for consistently going the extra mile to provide excellent service to each and every customer.”

Click here to read the press release on MSN: Transcend Ranked #1 Medical Transcription Company by KLAS for 2008.

According to the post, hospitals, insurance companies and many doctors all agree that the new medical coding systems was necessary to keep up with the ever-increasing new medical developments, but the problem with the new system is that it drastically increases the number of codes used to define various ailments and procedures to 155,000, which is ten times as many codes as are currently in use.

In addition, “some medical-industry officials also are concerned that consumers could see…an increase in billing errors. That can lead…to overcharging of patients, or an insurer denying payment for claim because it was submitted with an incorrect code. Some officials also expect an increase in billing fraud and more delays in payments to doctors and consumers.”

In a nutshell, when this new medical coding system goes into full-swing, it’s possible that Medicare, Medicaid and other third-party insurance companies will take longer to reimburse medical facilities. It’s quite possible that if it takes longer for medical facilities to receive payment from third-party payors, then it will take longer for medical facilities to pay their vendors. This is where PRN Funding’s accounts receivable factoring program enters the equation, as PRN Funding specializes in factoring healthcare vendor invoices made payable by medical facilities.

Click here to read the entire BCAdantage article: New medical coding system more precise, more complex.

Click here if you want to donate to the Pitch to Nurses program.

For you convenience, we’ve included a link to the Speech Recognition Survey.

Zaccardi listed some of the amazing benefits a medical transcription service owner can expect to receive by simply utilizing the services of a human resources outsourcing (HRO) partner:

• Obtain access to benefits programs that wouldn’t otherwise be available to small or mid-sized companies on their own
• Streamline time and attendance for payroll, including time record data flow for payroll processing and capturing line counts to hours worked through entry or data import
• Access to subject matter experts that will proactively develop handbooks, provide on-site and webinar training and assist with liability insurance
• Receive assistance with filing taxes and handling worker’s comp issues

Ziccardi wrote: “Many [medical transcription] companies are being confronted with challenges that have little to do with their core business–which is exactly why outsourcing has become such an attractive option.”

The medical transcription factoring specialists at PRN Funding couldn’t agree more with this statement! By outsourcing their receivables to PRN Funding, MTSOs can stop worrying about their cash flow and focus on more important things–like growing their medical transcription service.

Love also highly recommends putting your terms directly on your invoices, which is something Phil Cohen (president of PRN Funding, LLC) suggested to temporary nurse staffing business owners in part two of his article series: How Nurse Staffing Agencies Can Get Paid Quicker.

Not to mention, another way for business owners to get paid quicker during a bad economy is to utilize invoice funding.  Selling your invoices to a factoring company is a great way for you turn your receivables into cash immediately.

“There are some other things I would like to do professionally and personally,” Mikkelsen said.  He began speaking to the Reliant Health Care Professionals’ board about his succession plan last year.

Click here to read the entire briefing via Staffing Industry Analysts: Reliant starts search for CEO.