There are many operational factors which influence revenue in a physician practice. We find that it is also an area that is frequently overlooked when trying to identify the cause of revenue shortcomings.
Optimizing operational processes has numerous direct and indirect benefits. For example, by being more efficient, you can likely increase the number of patients able to be seen without compromising care. Indirectly, there are synergistic side effects, such as improving staff job satisfaction, which can improve overall practice performance, and therefore revenue.
When we consider the practice’s operations, this starts before a new patient even makes their first appointment. It continues throughout the patient’s course of care and even beyond. There are so many complex processes occurring simultaneously and sequentially that there is tremendous opportunity for things to go wrong.
Practices with operational opportunities tend to hire excess staff to compensate, have low patient volume, poor patient satisfaction, poor revenue cycle performance, and many other symptoms that significantly affect the finances of the practice.
We evaluate all of your practice’s key operational processes, start to finish, analyzing your performance in over 250 areas! This is like our version of a Review of Systems (ROS). We need to do a comprehensive review of all the likely causes of your symptoms. The goal is to identify opportunities to improve efficiency and utilization of best practices through training, implementation of technology to streamline manual processes, and adjustment of processes.
Ready to find out how a Comprehensive Practice Operations Review can help increase revenue in your practice?
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