Those with an interest in how a medical practice is run may have wondered what it takes to become a part of the exciting practice environment. Although it is possible to involve yourself from a purely administrative in some practices, studying practice management is the means by which you can equip yourself with all of the knowledge you need to effectively run a medical practice – It may even be the case that you’re a GP wanting to manage the operation of their own medical health practice! There can be a lot involved with this diploma, so to help inform aspiring practice managers we take a lot at what studying practice management is all about, and what you can hope to get out of it.
Getting familiar with compliance
Aside from tooling you with the terminology required to succeed in the role – you’ll need to understand all of the jargon to effectively communicate to staff, patients, visitors and medical professionals – the diploma of practice management provides a developed understanding of the fundamentals of the practice itself. Much of the work that qualified practice managers will be required to implement involves adhering to compliance in its many forms. Safety, legal and ethical standards regularly change and there is therefore a need to be equipped with the ability to create procedures and policies that enforce and ensure evolving compliance involving legislation, ethical standards and workplace health and safety requirements. It’s often not just a matter of knowing and understanding information related to practice management that is important – it’s knowing how to actually apply it. For this reason, studying the diploma teaches a variety of ways to plan strategically and drive growth in the role, with special attention from job-posters. For example, a need to practice on an operational level, but drive growth at a strategic level will often require invaluable skills taught in practice management, such as innovative thinking, effective future planning and performance management.
Understanding the systems in a practice
Knowing your way around Health Professional Online Services (HPOS) is crucial for anyone in a practice management role, and the only way to really get familiar with this service is to engage with a diploma. The HPOS is a web-based service provided by Medicare that acts as a fast and secure way for health professionals and administrators to do business, making it an invaluable part of practice administration and management. It is in a practice management course that you will better understand the application of medical item codes, health insurance, Medicare and subsidies to ensure you can effectively manage health billing systems interfaces and relay this information to patients. In understanding this system you’ll also be able to efficiently implement billing systems tailored to your practice’s goal, including managing patient payments, cash flow, debt tolerance and financials that include debt recovery procedures.
Improve your practice management skillset today
Although you would have gained quite a few fantastic skills by doing the course, it’s through studying Practice Management that you are actually able to gain a formally accredited qualification. In most cases, this is the only means by which you can actually demonstrate you have developed the wide assortment of skills to adapt to a new working environment in both a theoretical and practical aspect, and it’s having these nationally recognised that can be a huge point of difference in a highly competitive job market