Why consider an Operational Assessment?

Operational Assessment:

An Operational Assessment is a complete evaluation of the economy & efficiency of a physician practice. It covers all business functions of a practice, including information systems, accounts receivables, documentation, coding, reimbursement, practice management technology & human resources.
Operational assessments are becoming more common as practice acquisitions increase and managed care organizations demand more information about the practices that provide care for their enrollees or simply a practice needs to become more efficient to compete effectively in today’s healthcare environment. The result of an assessment can yield significant clues about how to improve practice operations.
There are different types of practice environments, and each requires a different model for optimum performance. Most rules and fundamental assumptions underlying current practice operations are obsolete, inappropriate or erroneous. The only option for increasing profit in today’s mature healthcare market is to decrease operation costs or increase patient volume (or both).
The operational assessment is moving to the forefront as an important component of practice management. It can provide the plan necessary for a medical practice to improve its financial performance.

Phase 1: Diagnostic Stage
:: Evaluation of Utilization of Staffing
:: Evaluation of Accounts Receivable & Accounts Receivable ManagementEvaluation of
Practice Overall Financial Performance
:: Examination of Coding & Documentation
:: Evaluation of staffing & job responsibilities
Phase 2: Development of Business Plan for Practice
:: Development of Protocols Handbook
:: Development of Staffing ModelDevelopment of Practice Budget & Cash Flow
ModelDevelopment of Job Descriptions
:: Obtaining employee support for required changes
Phase 3: Implementation
:: Install New Operational Protocols
:: Train and Re-deploy staff
:: Participate in selection of new staff (if any)
:: Install Financial Controls
:: Install Management Reporting
:: Install Communications Protocols
Phase 4: Monitoring (Quarterly)
:: Review Financial Performance
:: Review Office Productivity
:: Review Accounts Receivable
:: Recommendations for corrective actions
Each phase concludes with a written report and presentation to the practice.
Our costs are on an hourly basis plus travel costs.
Each phase of an Operational Assessment is available on an a la carte basis.

How Long Does It Take?
This varies from practice to practice depending on the complexity of the issues. Assuming required data is made available on a timely basis, a complete operational assessment will take 60 - 90 days for all 4 phases.
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