The Business of Neuropsychology » (New Edition)

Clinical Neuropsychologist, Baylor Institute for Rehabilitation, Outpatient Services

The purpose of this text is to provide an overview of basic business principles and how they can be used to enhance the stability and fiscal responsibility of neuropsychological practice. The principles discussed are are defined and information is provided to guide practical application of the concepts .The book is designed to benefit professionals at varying levels of practice regardless of their work setting, but focuses primarily on the issues related to neuropsychological practice.

Graduate school catalogs and training program brochures reveal a broad array of educational opportunities designed to prepare future professionals for independent practice in neuropsychology. However, little is offered to prepare neuropsychologists for the business realities that await them in the workplace. The expectation that they will simply see patients and do quality clinical work is often in conflict with institutional goals of making money so that the doors can remain open. The result can be a cataclysmic "crash" when altruistic ideals meet capitalistic needs. The concepts of "cash is king" and "no margin, no mission" are foreign to most neuropsychologists until our own fiscal bottom line is affected.

The Business of Neuropsychology also contains an overview of business "basics," such as budget and fiscal tracking, strategies for communicating with stakeholders in the business, front and back office flow and processes, billing, coding, marketing, referral relationship development, and staff growth and development.

The Business of Neuropsychology is part of the Oxford AACN Workshop series.

Doody Review Services

Reviewer:Christopher J. Graver, PhD(Madigan Army Medical Center)
Description:An oft neglected part of neuropsychology training, or even psychology training in general for that matter, is the practical aspect of how to make a living providing these services. This book tackles neuropsychology as a business undertaking.
Purpose:The intention is to provide practical information about business practices in general and how they apply to neuropsychology. This stemmed from a presentation at the AACN annual meeting in 2008.
Audience:This book is intended for neuropsychologists.
Features:An introduction to general business practices that is quite accessible for readers who are completely new to the business world begins the book. It includes a description of types of businesses, business plans and strategies, budgeting, marketing, and competitor analysis. Issues and strategies for hiring various necessary personnel are provided, as well as descriptions of their functions and value. Other practical aspects, such as record keeping, HIPAA, and Red Flag Rules are explored. There is a no-nonsense chapter on billing and coding, which can be one of the biggest headaches for practitioners given the difficulties with insurance companies. Specific codes and descriptions are provided, along with a history of interpretation of these codes and their implementation for practical billing purposes. Precertification, professional versus facility fees, and RVUs are all included in a comprehensive overview of finances. The book wraps up with practical advice about how to market and present oneself, job searches, and negotiating that first job offer. Despite being a practically-oriented book, there are plenty of references and suggestions for further reading that support the author's information and recommendations.
Assessment:This book is essential reading for new neuropsychologists or soon-to-be graduates, as well as anyone contemplating the leap to private practice. The topics are honed specifically to the critical business aspects that cannot be ignored, but distilled to a level easily understandable to clinicians with no business expertise.

Part 1 Basic Business Principles

Chapter 1 Basic Principles of Business 3

Chapter 2 Business Planning and Financial Basics 23

Chapter 3 Process, Quality, and Consistency 53

Part 2 Business Principles Applied To Neuropsychology

Chapter 4 Setting Up the Office Process 69

Chapter 5 Recordkeeping Guidelines and Regulations 89

Chapter 6 Billing, Coding, and Documentation 111

Chapter 7 Show Me the Money! 135

Chapter 8 The Playground of Healthcare Reimbursement 161

Chapter 9 Business Development and Marketing 167

Part 3 Professional Development

Chapter 10 Where Did the Time Go? 183

Chapter 11 Survival Guide for the New Professional 193

Chapter 12 Professional Development for the "Seasoned" Professional 207

Index 217