A practice assessment involves an in-depth review of the practice’s governance, management and operations. Workflow, communication, medical records, customer service and patient engagement and staffing are reviewed and analyzed. Revenue Cycle Management activities are assessed, including procedural and diagnostic coding, cash flow and accounts receivables management. Patient pay responsibility is reviewed, including policies and procedures for collections, payment plans and write-offs. Managed care and other health plan contracts and fee schedules are reviewed, with recommended changes for negotiation.
Key performance indicators are established and pegged to appropriate benchmarks, such as those from the Medical Group Management Association (MGMA) and other professional associations. Best practice standards are also developed and provided to establish performance standards for office functions, and to monitor staff performance, physician productivity, and overall practice performance.