The Core Focus of Every Physician Practice
This article was written by Lisa Miller.
Quality patient care should be the core focus of every physician practice, but in reality, the daily challenges of maintaining a profitable operation can divert your attention away from that task. Working with VIE Healthcare Consulting can transform your physician practice management.
The challenges of physician practice management
Most practices face challenges and distractions when providing quality patient care. These typically include issues such as:
- New healthcare regulations.
- Limited resources.
- Complicated payment models.
These combined challenges, among others, can cause significant problems in the operation and management of most practices, as well as impeding the delivery of patient care.
Working with a healthcare consulting provider, such as VIE Healthcare, can help your organization to achieve significant cost savings and transform the way in which you manage your practice, while enabling you to focus on that vital patient care.
At VIE Healthcare:
- We understand that each physician practice is also a business and must run on a profitable basis.
- We also understand that your staff work tirelessly to fill a wide range of roles and responsibilities at your clinic. That’s why our management approach empowers you to get back to doing what you love—helping your patients—while we reduce your costs and maximize profits, all without compromising quality.
- We’re experts at helping both single physician and small group practices address gaps in operational and financial performance. Our unique strategy dramatically improves operational efficiency, patient experience, and marketing for physician practices across the country.
Whether your practice is private or hospital-owned, VIE Healthcare understands the unique challenges you face.
Seven powerful outcomes for physician practice management
Working with VIE Healthcare helps you to achieve the following outcomes:
- Realize high-impact savings by carrying out a complete analysis of hidden cost-savings opportunities within your practice.
- We review and revamp billing practices, co-pay processes and agreements with providers for continuous improvement. These include ICD-10 coding adjustments for more accurate collections.
- Renegotiation of terms with managed care providers, with a focus on generating additional revenue sources. While vendors receive extensive negotiation training, healthcare providers rarely do. We also train your staff to develop strong negotiation skills, which we consider one of the most critical aspects to ensure excellent care.
- Identify and improve issues with patient satisfaction by carrying out comprehensive patient experience analysis.
- Create a superior marketing plan for your physician practice with a heightened web presence and powerful and compelling thought leadership initiatives.
- Reduce your administrative burden. It is estimated that 25% of US healthcare costs are administrative. We know from experience that physician practices also devote a large proportion of revenue to administration. In many cases, processes are inefficient. For example, one study revealed that for every 10 physicians providing care, almost seven additional staff are engaged in billing-related activities[1].
- Educate all of your staff on our proven strategies to establish a long-term plan for sustainable improvement.
Patient satisfaction and profitability
We also pay special attention to improving the patient experience which is becoming increasingly important to the success of all healthcare organizations as patients rely on online reviews on sites such as Yelp and Healthgrades in selecting their physician.
Physicians can no longer overlook the fact that patient satisfaction – and the reputation of their practice – is directly linked to its profitability.
Physicians can no longer overlook the fact that patient satisfaction & the reputation of their practice is directly linked to its profitability. Click To Tweet
Physician practices also benefit from our proprietary model for management, known as the SWAT Model to Immediately Deploy Expert Resources.
To learn how VIE Healthcare can help your physician practice reduce costs and improve the quality of your patient care, call our office today at 1-888-484-3332, Ext 500, or email us at info@viehealthcare.com for a complimentary consultation.
[1] https://www.nytimes.com/2018/07/16/upshot/costs-health-care-us.html
