Physicians spend years learning how to diagnose and treat patients but very little time learning how to run a financially healthy medical practice.

In this episode of The Lebanese Physicians Podcast, I sit down with Dr. Heather Signorelli, a board-certified pathologist, CEO of NetRevMD, and author of Thrive: Top 10 Ways to Boost Your Practice’s Revenue, to uncover where medical practices are losing money and what physicians can do about it.

We discuss the financial metrics every physician should know, including net collection rates, accounts receivable, denials, operating expenses, and patient collections. We also explore some of the most common sources of lost revenue from eligibility verification and prior authorizations to coding, documentation, and uncollected patient balances.

Dr. Signorelli explains why a practice can be extremely busy yet still be financially unhealthy, what physicians should look for in their monthly billing reports, and why understanding denials can even give employed physicians greater insight into the financial value of their work.

We also discuss whether billing should be in-house or outsourced, how staffing and workplace culture affect profitability, and the growing role of AI in medical billing and coding—including why human oversight remains essential.

Finally, Dr. Signorelli shares three areas physicians can examine immediately to improve their practice revenue: eligibility, patient collections, and financial metrics.

Question for our audience:

If you own or manage a medical practice, which area do you think causes the most lost revenue?

A. Billing, coding, and denials

B. Eligibility, prior authorizations, and patient collections

Share your answer in the comments!

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