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Sustainable Solutions for Orthopaedic Practice Profitability |
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Designed to meet the needs of today’s Orthopaedic practices, our program is guaranteed to increase profits and collections with results in 90 days and ultimately achieving or exceeding best practice benchmarks within one year.
Guaranteed.
Working with your administrative team, clerical and clinical staff to improve operational outcomes through our proven management structure, your practice will rank among the top 10% of operationally successful Orthopaedic practices in the nation. |
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Creating an Operational Center of Excellence
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30 Strategic Practice Specific Benchmarks are identified and incorporated into Strategic Plan Development. |
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Accountability, Measurement and Reporting |
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Best Practices Implementation |
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Focused Timeline and Project Management |
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1 year enrollment program |
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Fees are defined by our success within the practice and are guaranteed |
Defining Success |
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Factors of Productivity Success
Volume, Intensity and Time Efficiency
Strategies
Keys to Operational Success
Practice Business Strategy
Benchmarking Performance
Profitability and Overhead Management
Productivity, Practice Capacity and Staffing
Accounts Receivable Management and Collections
Patient Satisfaction
Contracted Payer Review
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Weekly and Monthly Measures of Success
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Dashboard- 30 Benchmark comparison to Budget, Actuals and Best Practice Indicators |
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Project Management Timeline of Results and Progress– Monthly and quarterly operational results will be reported to track progress and project successes. |
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A/R Snapshot- Monthly rolling averages and tracking of charges, payments,adjustments, collection percentage, aging detail and trending, months in accounts receivable and average daily charge. |
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Financial Ratios– Debt ratio, return on assets, net income or loss and assets and liabilities. |
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Budget Analysis– Monthly and Year to Date data will be collected to review current outcomes and determine percentage of revenues for each item. |
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Denial Management and Insurance Variance– Determination of percentage of front end rejected claims as well as back end denied claims compared to total claims billed. Payments received will be compared to actual contract reimburse-ment language to identify underpayments and variances. |
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Correct Coding Analysis– Monthly review of charges billed vs. correct coding practices. |
Key Orthopaedic Practice Success Factors
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Increased Profitability |
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Increased Practice Revenues |
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Ancillary Service(s) Review to Build Practice Revenue |
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Operations Timeline Development and Monthly Review |
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5 Year Strategic Plan for the Practice |
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Administration Training and Staff Development |
Management Tools
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Industry Benchmarking Tools to Review Historical and Current Practice Numbers |
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Library of Monthly Spreadsheets for Data Collection and Review |
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Key Indicators Reports for Tracking and Trending Practice Progress |
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Reimbursement Management Assistance when Applicable |
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Top ^ |
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| “My practice consistently collects over $850,000 a month – up from $525,000 on average, in the last 5 months we have added an additional $1,200,000 to our bottom line” |
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