E-P Service Enhancement

A Comprehensive Approach to Enhancing Profitability and Growth in E-P Services

 

Over the last decade, Electrophysiology (E-P) services have seen a double-digit growth rate driven by technical advancements and expanding clinical indications.  While this explosive growth provides hospitals with an opportunity to expand market reach and enhance the “bottom line” these dynamic services are associated with complex market development/operational/revenue/and cost issues.

 

Typical Benefits

Given the complexity of issues associated with the expansion of E-P services, administrators can realize significant benefits from a programmatic assessment that evaluates the following:

  • Identification of opportunities for programmatic expansion when the typical program serves less than 30% of eligible patients;
  • Comparisons to state-of-the-art operations realizing the efficiencies evidenced by top performing programs;
  • Appropriate documentation that allows your programs to realize the full economic impact of this service; and,
  • Optimal product pricing for the size and product mix of your program.

Examples

  • Recovery Audit Contractor (RAC) assessment along with post RAC analysis results in protocols and admission status changes to ensure compliance and reductions in RAC exposure.
  • Two hospitals realized savings ranging from $1.2M to $2.5M through strategies that included enhanced reimbursements, product acquisition, and continuous improvement.

 

HeartWorks’ Approach

Realizing that each E-P program is in a unique stage of development, HeartWorks uses a comprehensive approach to realize your organizational goals.  We provide objective assessment and tools to execute:

  • Growth Strategy Acceleration: Beyond market analysis and referral networks, this module focuses on identifying patients who may benefit from E-P services.
  • Operational Enhancements:  Other direct costs besides devices make an enormous impact on the profitability of an E-P Program. This module focuses on staffing, scheduling, through-put, etc. to improve the many factors that can affect operational costs.
  • Revenue Optimization --focuses on appropriate documentation and key reimbursement factors that can substantially impact the bottom line, while addressing overall E-P programmatic profitability.
  • Device Cost Rationalization --focuses on the highest direct expense to an E-P program by decreasing device costs through a collaborative effort with physicians, staff, and vendors.  Product selection and multiple vendor devices are evaluated to rationalize overall costs for your program.  

 

                                                

While all-inclusive to address the entire needs of E-P services, these modules are designed to be independent, providing our clients with maximum flexibility.  . 

 

This multi-step approach provides an objective perspective to ensure that the hospital is obtaining value consistent with its strategicand financial plans for its E-P Services.