How are You
Measuring Practice Profitability?
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Key Practice
Financial Indices
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Fee-For-Service Collection Percentage
-
Current Ratio
-
Days in
Accounts Receivable
-
Return on
Equity or Investment
Physician
Productivity...How do you measure up?
-
Per FTE
Physician
-
Per Patient
-
Per Encounter
or Visits
What technology
improvements will provide a real ROI?
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EMR/HMR-
Electronic medical records client side
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PM- Practice
management software
-
Computerized
appointment setting
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DRS- Document
Retrieval System/Forms Processing/Prescription Writer
-
EDI-Electronic
Data Interchange, Claims Management
What
administrative workflow processes need improvement?
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Compilation of
Full Time Equivalent (FTE) Job Description, Responsibilities
& Cost
-
Document Work
Flow Process
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Front Desk
(scheduling)
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Patient
Accounting (Billing and collection)
-
Medical
Records (Transcriptions)
-
Nurses,
Clinical support staff & Administrative
-
Review all
office policies & procedures to ensure compliance
-
Identify
Administrative Staff Training Requirements
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Comparative Analysis of FTE’s & Costs
(similar size & specialty)
