A practice's long-term success is directly related to its ability to identify, predict, and adjust for changes. Benchmarking, when used properly, is the best tool for overcoming these challenges.
Rightsizing is the process of determining whether a medical practice has the right number of staff doing the right things at the right time, with the right resources to achieve optimal practice performance. With declining reimbursement and increasing costs, medical practice executives frequently look to staffing as a means of reducing costs. Before taking action, however, they need to know that a higher level of staffing may increase practice revenue. Authors Deborah Walker and David Gans provide the systematic approach to rightsizing staff in the medical practice. They outline a five-step process to benchmark and analyze current staffing, productivity and work processes to realign staffing levels and responsibilities. This book includes a number of tools and resources to help practice executives apply the staff rightsizing process to their organizations. By following the authors' guidelines, practice leaders will realize that rightsizing doesn't always mean downsizing or reducing costs. It means having the right number and right mix of staff to ensure optimal physician productivity and practice efficiency to maximize the practice's financial performance. Book jacket.
Learn the key financial management skills needed to lead a medical practice. After reading this book, you'll understand the concepts, tasks, and terminology to ensure success in medical group practice management. The text covers: Translating medical practice objectives into financial assumptions to aid planning, Compiling, interpreting, and communicating financial information to physicians/shareholders and staff for education and decision making, Developing requests for proposals (RFPs), analyzing and negotiating/renegotiating contract terms favorable to the practice, Calculating business ratios and benchmarks, Analyzing the relationship of fees to coding/diagnosis for appropriate reimbursement.
There is little debate that health care in the United States is in need of reform. But where should those improvements begin? With insurers? Drug makers? The doctors themselves? In Big Med, David Dranove and Lawton Robert Burns argue that we’re overlooking the most ubiquitous cause of our costly and underperforming system: megaproviders, the expansive health care organizations that have become the face of American medicine. Your local hospital is likely part of one. Your doctors, too. And the megaproviders are bad news for your health and your wallet. Drawing on decades of combined expertise in health care consolidation, Dranove and Burns trace Big Med’s emergence in the 1990s, followed by its swift rise amid false promises of scale economies and organizational collaboration. In the decades since, megaproviders have gobbled up market share and turned independent physicians into salaried employees of big bureaucracies, while delivering on none of their early promises. For patients this means higher costs and lesser care. Meanwhile, physicians report increasingly low morale, making it all but impossible for most systems to implement meaningful reforms. In Big Med, Dranove and Burns combine their respective skills in economics and management to provide a nuanced explanation of how the provision of health care has been corrupted and submerged under consolidation. They offer practical recommendations for improving competition policies that would reform megaproviders to actually achieve the efficiencies and quality improvements they have long promised. This is an essential read for understanding the current state of the health care system in America—and the steps urgently needed to create an environment of better care for all of us.
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