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