UCR 028: Defining Poor Business Practices and Implementing Solutions
November 10, 2020
Mark, Ray, and Scott talk with Larry Kemp, FACHE about assessing your business practices, digging deep to identify the core problem, developing a road map, and then solving the root of the problem. Larry points out that "Being Paid is Not the Same as Paid Accurately".
You have to make sure you efficient in the things you can control in your practice. It is hard to extract more income from payers unless you have leverage in that market. But you do have options to limit exposure to the bad actors.
Summary Key Points
- Identify and Stop Revenue Leaks with Consistent Best Practices and Efficiencies
- Data /Key Practice Metrics, Analysis, and Trends
- Identify Core Problem along with underlining issues
- Develop a “Road Map” targeting practice-wide solutions
- Focus on Pre-Service, Pont-of-Service, and Post-Service Performance Improvement Actions
- Clear, consistent practice-wide communication and messaging
Tactical Solutions That work
- Validate each service, charge, and payment.
- Question all missed charges, all non- payments.
- Check schedule vs. patient charges/payments.
- Ask why processes and procedures are not better
- Practice-wide effort - Business and Clinical team.
- Do it right the first time! Corrective actions are time-consuming and costly.
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