We are often asked "What areas of my organization do I need to track or work on first?" The first thing we say is the fact that you are looking to fix your processes and track outcomes is itself helpful. As if we dont look for areas to improve we can never improve them.
Usually the first area that we suggest optimizing is your bottom line. If you dont know how many patients you are seeing, how many are not showing up, or whether you are getting paid for your visits, how do you know if your practice is in the red or in the black? How do you know which provider is the most productive, and if it is time to expand and potentially hire on new providers, open extra days etc? So we suggest first running the reports to find out:
- How many hours did the provider work?
- How many patients were scheduled to be seen?
- How many patients were seen during that time?
- How many patients were scheduled but did not show up?
- How much was billed during that time?
- How much was collected?
Run the report for a long enough period though such as yearly, quarterly, etc. As factors may impact certain days, weeks, or months. Such as illness, holiday celebrations like Christmas or Chanukah, seasons, and other variables.
You can then use this data to divide out your no-show report, productivity report, and start to look into whether you want to schedule more, do more reminder calls etc. Maybe it is time to do some marketing if you don't have enough patients. Maybe you need to hire more providers. These types of reports will tell you that.
You may then want to look into your budgeting, expenses, and income. Time in accounts receivable, payer mix, assess which insurances your patients have, where you may want to work on, what expenses to cut, etc. As your healthcare financial health is based on making more money than you spend.
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