Physician Practice Services
C-V Physician Integration:
- Development of physician/hospital partnerships
- Management Services Organizations (MSOs)
- Economic integration and partnership development with specialists
- Ambulatory Joint Ventures
- Program governance / structure design
- Structuring roles, job descriptions, and model contracts
Bringing a Additional Administration to Your Practice
Practice Services Continue to Grow in Volume and Revenue.
As payers continue to lower reimbursement rates and Medicare decreases its fee schedule, internal reporting and tracking systems play an increasingly important role in the business management of a group practice.
Practice management systems are geared toward the transaction-related tasks associated with running a physician practice (e.g., patient scheduling, billing, collections, etc.). Historically, the reporting systems integrated into the practice management systems are limited in their functionality and scope. As a result, business managers spend many hours manually manipulating data in spreadsheets and/or databases. Many have lacked the personnel and systems to do the analytical work, few have developed automated tools to assess payer performance, referral tracking, and physician profiling.
By calculating and monitoring a few base line statistics, a practice may be able to increase cash collections and collect receivables faster. Increased collections results in increased physician compensation. The longer receivables go uncollected the greater the chance they won’t be collected. Faster collections can also result in increased collections, in addition to better cash flow. Collecting and monitoring a few base line statistics can help catch problems as soon as possible or before they become even greater problems. The faster a practice can correct its billing problems the greater chance it has of collecting its receivables. Statistics can also help management evaluate insurance contracts and physicians’ payor mix. It’s all about properly managing accounts receivable!
SERVICE OFFERINGS
Assist with a comprehensive data analysis of historical billing and collection data. The primary focus of the analysis will be as follows:
- Accounts Receivable Audit – Analysis of historical billing, payment and write-off amounts by financial class. Review of open balance accounts including an aged A/R summary.
- E/M Coding Levels – Group and individual physician bell curves with comparison to Medicare benchmarks for the cardiology specialty. Diagnostic analyses will be provided to support assessment of coding compliance.
- Payer Profiling – Detailed comparison of payers by key metrics (ex. total revenue, case volume, collection rate, denials, payment lag).
- Physician Productivity – Peer comparison of physician productivity (ex. patient volume, days worked, billed charges, work RVU, revenue, etc.).
- Referral Profiling – Analysis of referrals by community physicians including stratification by payer mix, diagnosis class and monthly/quarterly trends.
Compensation Modeling
a comprehensive process to interview key physicians, develop potential compensation models and tailor specific mechanisms to potentially administer the preferred performance-based incentive compensation approach. The process will include the following:
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