There usually comes a time in the medical billing business when we are faced with making a very difficult decision. This decision may be either that you have to fire an employee or that you have to end a contract with a provider. In the over twenty years that we have been in business we have had to make a handful of these difficult decisions.
Unfortunately with the number of people that we have employed we have had to make the decision to fire some of them. With some it was an easy decision. With others it has been difficult. The bottom line is if your business is to succeed then you have to make the decision with the best interest of the business in mind. You can’t go on emotion.
We’ve also had to make decisions throughout the years on ending contracts with some of our providers. Sometimes those decisions are easy as well. When we suspect a provider of fraud of any kind we bring it to their attention. If they are not going to immediately rectify it, we terminate the contract. No second thoughts. But sometimes we have to decide to terminate a contract for other reasons. Reasons that are not as black and white. It can be a very difficult decision.
But again, we have to think about what is best for the business and sometimes accounts are not good for the business. This can be difficult to accept, especially if you are just starting out and clients are not easy to come by. But some accounts can be difficult (not the work itself!) and can actually cost you more to do than you get paid. Sometimes one account can drain a business and make it so that the other accounts suffer. It is important to recognize this and consider terminating the contract (or simply not renewing it) if that will be best for your business.
We have seen many businesses faced with difficult decisions. Many times the owner (including us!) will let emotions come into play. It is important for the success of your business that you face each decision with the question “What is best for the business?”