Helping You Grow A Healthy Practice

Continuously Improve The Patient Experience

Healthcare consumers too often observe provider offices as chaotic and disorganized from the time they begin patient registration until they complete their office visit.

Patients must be viewed as customers where providers must earn their trust and acknowledge their time is valuable.

Here are some ways to demonstrate to your customers you value their relationship, their time and most importantly their health and well-being:

  • Develop and design optimal work flows during patient registration, scheduling, check-in, payment processing, rooming, assessment, treatment and prescribing.

  • Leverage your claim processing, medical charting and eRx to deliver the best customer experience while reducing your administrative and clinical burdens.

  • In the eyes of the customer your patient portal is a virtual representation of your practice. Make sure your patient portal is simple and robust.  A positive user experience will give the customer confidence and empower them to actively manage their health.

  • Be mindful of customers’ abilities to pay by offering flexible payment options and gentle reminders for past due accounts.

  • Patients may feel overwhelmed or vulnerable, and they may need your help to address their health concerns. Emphasize with your team members how important customers are.  Customers should be valued and treated with respect at all times.

  • To increase patient visits, consider cost-effective marketing programs to let your patients know you appreciate their business and their health and wellness is your highest priority.

If you want to learn more about how you can grow a healthy practice, please feel free to contact us so you can start improving and growing your practice.

Practice Analytics

practicedashboardTo continue operating successfully every medical practice must maintain its awareness of financial performance, business risks and revenue opportunities.  Typically, declining results are indicators of performance issues within the practice.  Our Practice Analytics services can help you identify, source and measure performance metrics so medical practices can take remediation steps to ensure financial viability and growth. Our visual analytics platforms allow medical practices to be equipped with unparalleled transparency and intelligence.  Practices will be able to view current results as well as apply ‘what if’ scenarios by using built in features to interrogate their operating data.

The following are some measures and time series analyses you will have readily at your fingertips when making tactical or strategic decisions.

Net Collection Percentage – A critical measure to determine whether your practice is receiving the contractual amounts allowed by each carrier.

Accounts Receivable (A/R) Turnover – You may own a very profitable practice however if your profits are largely absorbed in your accounts receivable you will have liquidity challenges.

Collectability of A/R After 90 Days – If your billing and collections solution does create this scenario you should measure and source root causes as well as make proactive inquiries to understand what steps will be taken to collect on delinquent accounts.

Billed Charges and Collections by Payer – One way to assess your liquidity risks is know the source of your reimbursements and comparative analysis to evaluate payer payment performance.

Front Desk Effectiveness – Assess how efficient and effective your team operates during patient registration, verifying patient eligibility, collecting copayments or patients with past due amounts.

Billing Turn-Around-Time – Measure how long it takes from the time the procedure is performed until it is submitted for reimbursement.

Undercoding – Are you billing appropriately based on the services you are providing?

Payer Turn-Around-Time – How long does it take each payer to reimburse for billed procedures.

Recall Visits – Effectiveness and capacity of having patients seen for follow-up or annual preventative check-ups.

Denial Management – Measure claim denial/rejection rates as well as successful and unsuccessful appeals.

Payment Posting Turn-Around-Time – What is the average number of days from when a payment is deposited until it is posted in the practice management system?

Debt Collection Effectiveness – Measure of resolution rates by collection source.

E/M Coding Comparisons – Based on CMS Part B data, you should compare your specialty E/M billing utilization to detect any potential anomalies that may impact coding compliance or a possible CMS audit.

analytics1

Overhead Analysis – Evaluate the relationship of practice revenue with certain variable operating expenses.

Carrier Composite Analysis – Using our visual analytics tool along with your CPT™ frequency we can determine which procedural reimbursement is not competitive with any given carrier.  Useful and intelligent analytics when negotiating your contractual fee schedule renewal.  Measure and evaluate financial impact if you accept proposed contract provisions or term the carrier agreement.

If you want to learn more about how you can grow a healthy practice, please feel free to contact us so you can start improving and growing your practice.