Medical Practice Productivity Review
A medical practice productivity review is a process of evaluating how efficiently and effectively a medical practice operates.
The review typically looks at a number of factors, including:
- The number of patients seen per day
- The average time spent with each patient
- The amount of revenue generated
- The cost of operations
- The level of patient satisfaction
The goal of a medical practice productivity review is to identify areas where the practice can improve its efficiency and effectiveness. This can lead to increased revenue, reduced costs, and improved patient satisfaction.
There are a number of benefits to conducting a medical practice productivity review. These include:
- Identifying areas for improvement
- Measuring the effectiveness of changes
- Benchmarking against other practices
- Identifying opportunities for growth
- Improving patient satisfaction
Data Collection and Assessment
Gather patient records, billing data, and coding information for the audit period. Review compliance with payer-specific guidelines, HIPAA, and other regulatory standards.
Coding Accuracy
Review
Evaluate diagnosis and procedure codes for accuracy and compliance with CPT, ICD-10, and HCPCS guidelines. Identify under coding, over coding, or missed opportunities for revenue.
Chart Auditing
& Review
Cross-check medical records to ensure they support billed codes. Ensure documentation meets payer and legal requirements for medical necessity.
Evaluate Major
KPIs
Analyze claims submission processes for efficiency. Identify patterns of denials or delays in reimbursements. Days in Account Receivable, rejections/denial ratio.
Operational
Review
Assess workflows and staff adherence to standard procedures. Identify inefficiencies impacting the revenue cycle.
Compliance
Check
Ensure policies align with federal, state, and payer-specific regulations. Highlight any risks of penalties due to non-compliance.
Comprehensive
Reporting
Provide detailed findings highlighting strengths, weaknesses, and areas for improvement. Include actionable recommendations for correcting issues and optimizing performance.
Follow-Up
Implementation
Assist in implementing corrective actions and improvements. Offer ongoing support to maintain compliance and efficiency.
Risk Mitigation
Analysis
Evaluate potential risks in coding, documentation, and billing processes. Develop strategies to minimize vulnerabilities and safeguard revenue.
EVALUATING AR
Old accounts receivable (A/R) records can contain valuable information about past customers, sales transactions, and payment history. This information can be used to improve customer relations, track sales trends, and identify potential bad debt.
Data Review
We collect all of the old A/R records that we need to evaluate. This may include invoices, sales orders, and payment receipts.
Valuable Data
Identify the records that contain valuable information about customers, sales transactions, or payment history.
Turning Data Into Revenue
Audit credit balance carefully
A credit balance checkup and audit can help you to identify any overpayments that you may be owed, and to ensure that your financial records are accurate. It can also help you to avoid potential problems, such as being audited by the government or being sued by a creditor.
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117 S LEXINGTON ST STE 100 HARRISONVILLE, MO 64701
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Monday-Friday: 8am - 6pm