You've seen lots of stories lately, including some in Part B News, on the difficulties of collecting patient payments and Medicare and Medicaid payments. But you also need to keep an eye on how quickly you are getting paid by your private payers.

When your practice constantly refers a large stream of patients to the same type of specialist, it's a good opportunity to see whether you can add that specialty to your group to increase revenue and improve patient access and convenience, experts say. Your first move is to conduct a thorough, data-driven analysis to ensure this makes financial sense for your practice and its circumstances. Use this five-step guide to do it.

Before you decide to add another specialty to your practice, think about the potential fallout that could occur in your community. Physicians themselves advise open communication and negotiation to address any conflicts that arise because of overlapping services.

Physician practices facing Medicare Administrative Contractor (MAC) transitions suffered from millions of dollars in delayed payments and lengthy hold ups appealing denied claims, according to a new Government Accountability Office (GAO). Outgoing carriers left new MACs with significant enrollment application and appeals case workloads, according to the report. Let it serve as a warning to you and your peers facing future MAC transitions.

Stay connected to the Part B News team by following @PartBNews on Twitter. The Part B News Twitter service is an extension of the news coverage you receive in the weekly newsletter and daily updates to www.partbnews.com. On Twitter you will be notified of the latest CMS news, blog posts and physician practice information from medical societies and your peers. Twitter also allows you to interact with Part B News editors and network with your peers.

Delete or throw out copies of any blank Electronic Fund Transfer (EFT) Authorization Agreement forms on your computer or in your office. CMS has updated the CMS-588 form you use to enroll in the Medicare program or update your banking information.

You're once again just a few weeks away from Medicare physician reimbursement rates dropping 21.3%. Congress needs to fix the payment formula with a bill known as a "pay fix" or "doc fix" by the end of the month. Otherwise, you'll risk CMS holding claims or paying for services at the reduced rate (PBN 4/26/10).

How quickly are you getting paid by payers? Find out by using the Part B News' Tool of the Month, a Documentation of Insurance Turnaround worksheet, to see how quickly a payer or payers are paying your claims.

Surgical specialties and those associated with major procedures have the greatest denial rates in the two major inpatient settings, CMS data shows. The place of service (POS) doesn't appear to make a major difference in denial rates by specialty in the inpatient settings, similar to last week's analysis of outpatient settings (PBN 5/3/10).