Friday: Profitable Practice Management

Team attendance will generate the fastest rate of change resulting in improved payments.

Step One:  Staff: Investment or Overhead?

The answer to that question depends on you. One thing is true, your staff salaries and benefits are your most significant expense. Are you getting what you're paying for?  In our work with practices the answer is both yes and no. 

In this segment, we provide you tools so you can:

Step Two:  Diagnosing Eighteen Revenue Leaks That Cost Practices A Fortune

We see these leaks regularly in practice consultations all the time. We polled the consultants for their favorite, most common leaks and their secrets for plugging them. Lots of little daily errors made from the first phone call to the failed appeal are like a dripping faucet—at the end of a week you have a pond!  Even in well run practices there are mistakes that add up and over time result in losses of tens of thousands of dollars. In today’s environment you can’t afford to lose a dollar.

Plug these “leaks” and the profits are yours!

Step Three: You Can’t Manage What You Don’t Measure

We will outline the key reports that ENT surgeons find useful in managing both revenue improvement and overhead reductions. Sample dashboards for you to download and use in your practice will be provided.

Doctor: Fail to read these reports  at your peril.  Not paying attention has a high cost!

Step Four:   How to Reduce Your Overhead

Remember, a saved dollar is worth more to you than a newly earned one because you have already invested money in the overhead. When you cut expenses, those savings immediately drop to your bottom-line!

Step Five: Practice Development Planning

Let’s say that the Medicare cut is not as bad as predicted, but still steep. What if you want to reduce your Medicare volumes? Where will the new patients come from? Every practice should have a business development team. It is not an expense; it is necessity. In this course we will look at how a few successful practices have effectively developed their client base.

We’ll give you tips on how to deal with these questions:

Monitoring patient opinions after the first visit allows you to manage satisfaction and adjust given the responses. Measuring patient outcomes allows you to adjust clinical care. The best practices do both.

Putting It All Together

If you write it down, things get done. Before you leave you’ll write your top ten action items with due dates. We’ll send them to you later and see how you did!