3 Ways to Increase Productivity with a Medical Practice Consultant
A medical practice consultant is a reliable outside source that can provide valuable feedback and guide a clinic to increase productivity, thereby increasing profitability. But is this addition necessary?
Physicians and administrators across the country are facing extreme requirements, regulations, and policy changes like ICD-10 and PQRS. Challenges like this become even more of a strain on productivity when resources are stretched thin. Small practices with a limited number of staff members, or even bigger clinics with declining staff due to decreased reimbursement rates and increasing overhead, face mounting pressure to increase visit volume. But how is that possible in lieu of everything else?
In the fast-paced and high risk medical industry, it’s paramount to be efficient and develop an elastic system that can take ICD-10 shifts and reimbursement changes in stride. That’s why hiring a medical practice consultant who specializes in preparing your team can make such a huge difference. A medical practice consultant has observed and learned from dozens of cases and organizations, developing the experience necessary to keep your clinic running smoothly. A consultant might help you in areas such as:
- Staffing – Teamwork is crucial to forming a productive staff. You want to build a team that works well, communicates well, and supports one another. This will not only smooth out the kinks in your system, but help with employee retention. Staff analysis can also determine your optimal number of employees, enough to fulfill tasks without extra time and salary compensation that could push a clinic into the red.
- Risk Analysis – Certain risks can be seen and prepared for far in advance of ever happening. A consultant can structure your team to best handle the interruptions and changes of the industry, as well as create outlines for how to handle situations that might arise.
- Time Management – Where is each staff member’s time being delegated? Studying the numbers (especially in relation to the same position within and between similar clinics) can provide startling information on inefficiency and where to trim the edges or reallocate time.
It is important to remember that clinical and financial productivity are not the same. While you can hire a medical practice consultant for either concern and they will both help improve the bottom line, one typically saves time and resources while the other saves or collects more money. You can also increase your financial productivity with a billing specialist like those from Billing Advantage. A billing expert will analyze the revenue cycle and billing management to get your clinic the full reimbursement it deserves. If we can’t answer you practice questions ourselves we can point you to a consultant who can. Invest in billing services today!