What Contributes to Financial Loss in Pediatric Practices?
Pediatric practices may face financial loss due to various factors such as:
Insurance Reimbursements: Lower reimbursement rates from insurance providers compared to other specialties can create revenue challenges. Billing and Coding Errors: Incorrect billing and coding can lead to denied claims and loss of potential income. High Operational Costs: Maintaining a pediatric practice involves significant expenses, including salaries, medical supplies, and administrative costs. No-Show Appointments: Missed appointments without prior notice can result in lost revenue opportunities.
