Date post: | 07-May-2015 |
Category: |
Health & Medicine |
Upload: | kareo |
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PAGE 1 KAREO | CONFIDENTIAL
3 Ways to Increase Your Practice’s
Revenue
We will begin in just a bit…
PAGE 2 KAREO | CONFIDENTIAL
Your Hosts Today…
Rochelle Glassman President of Phoenix Physician Services, Inc
Terry Douglas Director Brand Marketing, Kareo
PAGE 3 KAREO | CONFIDENTIAL
Our Schedule for Today…
1 Introduction & Welcome Rochelle
2 Learn 3 Ways to Increase Profitability
3 Discover Kareo’s Role
4 Answer Questions
PAGE 4 KAREO | CONFIDENTIAL
Rochelle Glassman
• Nationally-recognized healthcare consultant • Former executive-level consultant for Cigna • Healthcare business entrepreneur • 30 years of healthcare business experience • President/CEO Phoenix Physician Services, Inc. • Physician Advocate • Trauma-trained RN • [email protected] or 602.685.9500
Has declined, in general Change the way we must do business Some specialties have seen large decreases in
reimbursement and patient volume since 2010 General surgery (-12%) Orthopedic surgery (-10%) Radiology (-10%) Emergency medicine (-8%)
*Source: Medscape Physician Compensation Report 2012
Leave solo or group practice and obtain employment?
*Source: Medscape Physician Compensation Report 2012
• Partners in practice earned on average $308,000 • Solo-practice owners earned $220,000 • Employed physicians earned $194,000
ICD-9 Mining
Managing Schedule Rx Refills
Consumer marketing is traditionally prescriptions and lawsuits
Now recommended by the AMA 1% - 3% (10k – 30K, on average), per million
dollars in revenue
ICD-9 Mining
ICD-9 Mining
Analyze the Diagnoses in your practice!
Data is free! Data rarely ever used to its advantage
ICD-9 Mining
Analyze the Diagnoses in your practice!
Fixed interval scheduling
Chronic Conditions Schedule Reminders
Patients with high BP
Diabetic patients
Heart disease
ICD-9 Mining
Analyze the Diagnoses in your practice!
Seasonal scheduling
Summer
Physicals
Well-women
Preventative
Fall
Vaccinations
Flu visits
ICD-9 Mining
Create a text, email, phone and mail reminder system
ICD-9 Mining
Motivate your front-office staff Create bonus incentives
ICD-9 Mining
The results?
Increased patient satisfaction
Increased patient visits
Increased revenue
Free money from health plans for meeting quality indicators
Managing your
schedule
Managing Schedule
Making the most of your time
Time is money Schedule generates revenue Patients that can’t be scheduled
immediately (especially in primary care) will seek care elsewhere
Front office never strategically schedules patients
Every unfilled appointment represents loss of income
Managing Schedule
Capitated vs. Fee-for-Service (FFS)
Fee-for-Service
Services unbundled and paid for separately
Capitated
Set fee paid to physician for a given patient, regardless of what
services are performed (except carve-outs)
Managing Schedule
Capitated vs. Fee-for-Service (FFS)
FFS 70% Capitated 30%
Know what your percentage of capitated versus fee-for-service is and fill schedule accordingly…
Managing Schedule
Capitated vs. Fee-for-Service (FFS)
Triage capitated patients Hire new RN or LPN to triage patients Create triage policies Procedures performed on same day Do not schedule same-day (unless necessary) Allocate appointment availability based on percentage of business
Triage FFS patients Procedures scheduled the next day Block schedule for same-day appointments Have early morning and evening and/or weekend time to
accommodate the patient’s schedule Charge patients for late cancellations or no-show appointments Have waiting lists
Bonus staff for increasing patient volume
Managing Schedule
Categorize your Visits Based on Time
New patient Established Patient
Acute Patient Preventative Procedures
Managing Schedule
Categorize your Visits
Double-book Medicaid/Follow-
up patients
One in every three patients do not show up for appointment (Medicaid)
25% to 50% of follow-up patients cancel or do not show
The 50% to 75% that do show, pay for the visit
Managing Schedule
It’s all in the way you say it!
Call me if you’re not
feeling better
See you in five days
Versus
Let’s get you in right away, when are you available to be seen?
Managing Schedule
Train your Front Office Staff
Implement accountability Set expectations Implement incentive programs Implement a color-coded schedule system
Managing Schedule
Physician/Provider Expectations
Employed providers should have written in their employment contract the number of patients they are expected to see and number of minimum patient hours they are expected to work
Managing Schedule
The results?
Increased productivity
Increased patient care
Healthier patients
Increase patient satisfaction
Increased revenue
RX Refills
Rx Refills Refilling Prescription Refills over the
Phone
Refills over the phone cost practice money Taking the call Administrative time Provider review Calls and faxes made by staff
No physical evaluation
Rx Refills Refilling Prescription Refills over the
Phone
Have patients come to the office to refill prescriptions after 90 days
Write a policy for front-office staff (Provide exceptions when necessary for two-week
prescription refills) Have mid-levels complete follow-up, if available Initial appointments should be seen 30 days after first
prescription filling Schedule patients when medically appropriate (For
example, patients that self-diagnose strep or pain and request a specific prescription)
Family practice, pediatric and internal medicine can realize a 35% increase in volume
Rx Refills The results?
Increased patient care
Increased patient satisfaction
Increased revenue
Up to 35% patient increase and family practice, internal medicine and pediatric medicine
Increased Revenue Increase Patient Satisfaction
Increased patient care Free money from health plans for meeting
quality indicators
Rx refill Policies
ICD-9 Mining
Managing the
Schedule
PAGE 34 KAREO | CONFIDENTIAL
Our Schedule for Today…
1 Introduction & Welcome Rochelle
2 Learn 3 Ways to Increase Profitability
3 Discover Kareo’s Role
4 Answer Questions
PAGE 35 KAREO | CONFIDENTIAL
Discover Kareo’s Role
“…Make Your Practice a Best Practice!”
PAGE 36 KAREO | CONFIDENTIAL
Discover Kareo’s Role
“…Make Your Practice a Best Practice!”
• PAHCOM has approved 1 CEU credit.
• To request your credit, please
complete the questionnaire at the end of today’s webinar.
PAGE 37 KAREO | CONFIDENTIAL
Discover Kareo’s Role
PAGE 38 KAREO | CONFIDENTIAL
Discover Kareo’s Role
Mining the Data!
PAGE 39 KAREO | CONFIDENTIAL
Discover Kareo’s Role
Mining the Data! User Productivity!
PAGE 40 KAREO | CONFIDENTIAL
Discover Kareo’s Role
Mining the Data! User Productivity! Appointment No-Show Rates!
PAGE 41 KAREO | CONFIDENTIAL
Discover Kareo’s Role
Mining the Data! User Productivity! Appointment No-Show Rates! Schedule Management!
PAGE 42 KAREO | CONFIDENTIAL
Discover Kareo’s Role
Mining the Data! User Productivity! Appointment No-Show Rates! Schedule Management! Patient Info!
PAGE 43 KAREO | CONFIDENTIAL
Discover Kareo’s Role
“…make work fun and rewarding!”
PAGE 44 KAREO | CONFIDENTIAL
Join Kareo!
Visit us online at www.kareo.com
Sign-up in November for 30 days Free! - Promo code 12-11RG -
PAGE 45 KAREO | CONFIDENTIAL
Let’s Answer Your Questions
Is Kareo a clearinghouse? If not, what clearinghouses do you use?
Questions Right Now
888.775.2736 x1 [email protected]
-- Questions After the Webinar --
For Kareo…
For Rochelle… [email protected]
602.685.9500