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

  • Fee schedule; collection ratios; A/R management; reimbursement enhancement; insurance processing
  • New revenue sources
  • Profitability and overhead
  • Managed care relationships
  • Compensation surveys and recommendations

 Size/Service Mix/Capabilities

  • Assistance designed to increase efficiency, improve financial performance, increase physician productivity, enhance space utilization
  • 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
  • Ratio analysis (per physician FTE):
    • Procedures
    • Patient visits
    • Revenues and costs
    • Staffing
    • Office space

 Technology Assessment/Acquisition

  • Clinical efficacy and “fit” within the practice’s vision/goals; reimbursement issues – current/projected
  • Initial purchase and startup costs; ongoing operational and maintenance/upkeep costs; technician needs and availability

 Cost Reduction/Cost Management

  • Tracking and managing of practice outcomes
  • Clinical and resource utilization metrics, including cost per case, LOS, re-admission rates

 Population Health/Accountable Care

  • Impact of population-based, fee-for-value, PCP-driven delivery models
  • Compete effectively in the current healthcare marketplace; reduce costs and enhance price competitiveness
  • Tracking and managing of practice outcomes; clinical and resource utilization metrics; operational, protocol-based assistance
  • Managed care contracting Request for Proposal (RFP) responses

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