MAXIMIZE CV PHYSICIAN PRACTICE REVENUE
Physician Practice/Medical Group Service
For CV physician practices, maximizing net revenue (within regulatory and legal guidelines) is critical to ensure that all of your patient care efforts are appropriately rewarded.
A regularly scheduled, focused effort to review and enhance revenue capture is highly recommended and can be achieved through a variety of financial analysis and performance improvement approaches.
Vision & Strategy
Business Planning
Hospital Partnerships
Financial Structure/Physician Compensation/Budget Process/Revenue Cycle
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Fee schedule; collection ratios; A/R management; reimbursement enhancement; insurance processing
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New revenue sources
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Profitability and overhead
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Managed care relationships
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Compensation surveys and recommendations
Size/Service Mix/Capabilities
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Assistance designed to increase efficiency, improve financial performance, increase physician productivity, enhance space utilization
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Market demographics and environmental assessment; local, regional, national trends; detailed demand forecasting; referral pattern analysis; practice size/mix of services; internal group management/ operations; staff capabilities; staffing levels vs. practice volume; benchmarking with comparable practices
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Ratio analysis (per physician FTE):
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Procedures
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Patient visits
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Revenues and costs
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Staffing
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Office space
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Technology Assessment/Acquisition
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Clinical efficacy and “fit” within the practice’s vision/goals; reimbursement issues – current/projected
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Initial purchase and startup costs; ongoing operational and maintenance/upkeep costs; technician needs and availability
Cost Reduction/Cost Management
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Tracking and managing of practice outcomes
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Clinical and resource utilization metrics, including cost per case, LOS, re-admission rates
Population Health/Accountable Care
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Impact of population-based, fee-for-value, PCP-driven delivery models
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Compete effectively in the current healthcare marketplace; reduce costs and enhance price competitiveness
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Tracking and managing of practice outcomes; clinical and resource utilization metrics; operational, protocol-based assistance
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Managed care contracting Request for Proposal (RFP) responses
