present    The Best of the Best:What Good Managers Do That Sustain            Success                    Presented by     ...
Disclaimer                                                      2• No copyright claimed on government material or  informa...
TakeawaysUnderstand what kind of practice youhaveReal life examples of how to be “thebest”Specifics on what and how toimpl...
What Are Your Habits?Bad things happen to good practicesWhat is causing the losses?How do you determine the issues?What ca...
What Are Your Habits?Self-improvement development plan?Staff performance evaluations &development plans?Annual business pl...
Change Your HabitsBe the change agentLead to better resultsBecome a colleague of theowner(s)/physiciansEnsure the future o...
Change Your HabitsBe the change agentPractices that excel  Profitability & cost management  Productivity, patient capacity...
The BestRun the business like a      business                                       8      © 2012 Zetter HealthCare
The BestRun the business like a business    Focus – 3 phases of practice    Job vs. career    Strategy & vision = plan    ...
The BestHave Great Cash flow                                      10      © 2012 Zetter HealthCare
The BestCash flow    Everyone works cash flow      A/R (collections)    Communications (360o)      What works, what doesn’...
The BestMonitor productivity, capacity & staffing                                     12     © 2012 Zetter HealthCare
The BestMonitor Productivity, Capacity & Staffing    Physical layout affects patient flow    Hours of operation    Schedul...
The BestMonitor Productivity, Capacity & Staffing(cont.)    Back up plans       Partner w/ other practices    Always recru...
The BestPatient Satisfaction                                     15     © 2012 Zetter HealthCare
The BestPatient Satisfaction    Personality & attitude    Welcoming/inviting atmosphere    Reception vs waiting    Patient...
The BestPatient Satisfaction (cont.)    Where patients come from    Internet & social media presence    Highlight team rol...
The BestMonitor, evaluate &  communicate                                    18    © 2012 Zetter HealthCare
The BestMonitor, Evaluate & Communicate   MBO   MBWA   Job descriptions w/ responsibilities   Training, cross training & e...
The Best    Budget &Strategically Plan                                    20    © 2012 Zetter HealthCare
The BestStrategic Planning & Budgets    Ensure/insure your future    Budgets?    Not increasing prior year revenues & expe...
The BestStrategic Planning & Budgets (cont.)    Benchmarks/Best practices    Contracts & fee schedules      Tremendous rev...
The BestUtilize Practicedashboards &benchmarking                                  23  © 2012 Zetter HealthCare
The BestPractice Dashboards & Benchmarking   What is monitored & measured?   What’s important?                            ...
The Best                                25© 2012 Zetter HealthCare
The BestGross Collection Ratio Payments / Charges = GCR Selected timeframe based on dates of serviceAdjusted (Net) Collect...
The BestDays in A/R Total current receivables net of credits /practice’s average daily charge amountA/R > 120 Days  Dollar...
The BestFirst Pass Rate  Total clean claims / Total claims  The percentage of claims that can besubmitted without any prob...
The BestAverage Paid Percent Sum of payments / Sum of submitted chargesAverage Reductions Percent  Sum of payer’s contract...
The BestWhat are we accomplishing today?Have a plan…Take the business to the next levelVisualize  Steps  StrategiesVs. bei...
The Best• Cash is KING!• From your ear to the bank account• Evaluate all systems/processes &  controls                    ...
The Facts About The Best• Less bad debt• Collect receivables more quickly• Implement operational efficiencies• Hire more q...
In ClosingInspect what you expect. You cannot manage thatwhich you do not measure!                                        ...
For Follow-up & Further Questions               Contact:             David J. Zetter,PHR, CHCC, CHCO, CPC, CPC-H, PCS, FCS...
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Best Of The Best 0817012 Dh

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Best Of The Best 0817012 Dh

  1. 1. present The Best of the Best:What Good Managers Do That Sustain Success Presented by David J. Zetter, PHR, CHCC, CHCO, CPC, CPC-H, PCS, FCS, CHBC Presented by David J. Zetter, PHR, CHCC, CHCO, CPC, CPC-H, PCS, FCS, CHBC 1 © 2012 Zetter HealthCare
  2. 2. Disclaimer 2• No copyright claimed on government material or information. This material is designed to offer basic information. The information presented is based on the experience, training and interpretation of the author. Although the information has been carefully researched and reviewed for accuracy and completeness, neither the author, DecisionHealth or Part B News accept any responsibility or liability with regard to errors, omissions, misuse or misinterpretation. 2 © 2012 Zetter HealthCare
  3. 3. TakeawaysUnderstand what kind of practice youhaveReal life examples of how to be “thebest”Specifics on what and how toimplement at your practiceZHC Dashboard & Benchmark Tool 3 © 2012 Zetter HealthCare
  4. 4. What Are Your Habits?Bad things happen to good practicesWhat is causing the losses?How do you determine the issues?What can be done to turn losses intoprofits?What does YOUR future hold for you? 4 © 2012 Zetter HealthCare
  5. 5. What Are Your Habits?Self-improvement development plan?Staff performance evaluations &development plans?Annual business plan?Daily, weekly, monthly monitoring &measuring?Involved with the business or just go towork everyday? 5 © 2012 Zetter HealthCare
  6. 6. Change Your HabitsBe the change agentLead to better resultsBecome a colleague of theowner(s)/physiciansEnsure the future of the businessEnsure YOUR future! 6 © 2012 Zetter HealthCare
  7. 7. Change Your HabitsBe the change agentPractices that excel Profitability & cost management Productivity, patient capacity & staffing Accounts receivable & collection Patient satisfactionUtilize staff & teams in appropriateways 7 © 2012 Zetter HealthCare
  8. 8. The BestRun the business like a business 8 © 2012 Zetter HealthCare
  9. 9. The BestRun the business like a business Focus – 3 phases of practice Job vs. career Strategy & vision = plan Seek counsel from experts Goals = success Ever changing, living, breathing Vested interest / “skin in the game” Be creative Evidence based management 9 © 2012 Zetter HealthCare
  10. 10. The BestHave Great Cash flow 10 © 2012 Zetter HealthCare
  11. 11. The BestCash flow Everyone works cash flow A/R (collections) Communications (360o) What works, what doesn’t Payer contracts & negotiations Daily, weekly, monthly, quarterly goals Metrics Billing & reimbursement compliance plan 11 © 2012 Zetter HealthCare
  12. 12. The BestMonitor productivity, capacity & staffing 12 © 2012 Zetter HealthCare
  13. 13. The BestMonitor Productivity, Capacity & Staffing Physical layout affects patient flow Hours of operation Scheduling (maximize) Patient flow Reception vs waiting Location timing Provider flow – “handler” Care coordination 13 © 2012 Zetter HealthCare
  14. 14. The BestMonitor Productivity, Capacity & Staffing(cont.) Back up plans Partner w/ other practices Always recruit to upgrade What do you look for in a candidate? 14 © 2012 Zetter HealthCare
  15. 15. The BestPatient Satisfaction 15 © 2012 Zetter HealthCare
  16. 16. The BestPatient Satisfaction Personality & attitude Welcoming/inviting atmosphere Reception vs waiting Patient portal Reduce time in “waiting” Caring & helpful Surveys 16 © 2012 Zetter HealthCare
  17. 17. The BestPatient Satisfaction (cont.) Where patients come from Internet & social media presence Highlight team role in PT satisfaction Highlight successes Employee morale/satisfaction 17 © 2012 Zetter HealthCare
  18. 18. The BestMonitor, evaluate & communicate 18 © 2012 Zetter HealthCare
  19. 19. The BestMonitor, Evaluate & Communicate MBO MBWA Job descriptions w/ responsibilities Training, cross training & education Regular evaluations and communications Accountability 19 © 2012 Zetter HealthCare
  20. 20. The Best Budget &Strategically Plan 20 © 2012 Zetter HealthCare
  21. 21. The BestStrategic Planning & Budgets Ensure/insure your future Budgets? Not increasing prior year revenues & expenses Built from scratch Careful consideration Review admin & clinical staffing levels Largest expense & most control 21 © 2012 Zetter HealthCare
  22. 22. The BestStrategic Planning & Budgets (cont.) Benchmarks/Best practices Contracts & fee schedules Tremendous revenue leaks Owner goals Your goals Complacency If not growing… Doomed! 22 © 2012 Zetter HealthCare
  23. 23. The BestUtilize Practicedashboards &benchmarking 23 © 2012 Zetter HealthCare
  24. 24. The BestPractice Dashboards & Benchmarking What is monitored & measured? What’s important? 24 © 2012 Zetter HealthCare
  25. 25. The Best 25© 2012 Zetter HealthCare
  26. 26. The BestGross Collection Ratio Payments / Charges = GCR Selected timeframe based on dates of serviceAdjusted (Net) Collections Ratio Payments (less credits) / Charges (lessapproved contractual adjustments) = ACR Selected timeframe based on dates of service 26 © 2012 Zetter HealthCare
  27. 27. The BestDays in A/R Total current receivables net of credits /practice’s average daily charge amountA/R > 120 Days Dollar amount of A/R > 120 from date ofservice / Dollar amount of total A/R 27 © 2012 Zetter HealthCare
  28. 28. The BestFirst Pass Rate Total clean claims / Total claims The percentage of claims that can besubmitted without any problems or humaninvolvement Use a designated period of timeDenial Rate Total dollar amount of denied claims / Totaldollar amount of submitted claims Use a designated period of time 28 © 2012 Zetter HealthCare
  29. 29. The BestAverage Paid Percent Sum of payments / Sum of submitted chargesAverage Reductions Percent Sum of payer’s contractual and otherreductions / Sum of submitted charges 29 © 2012 Zetter HealthCare
  30. 30. The BestWhat are we accomplishing today?Have a plan…Take the business to the next levelVisualize Steps StrategiesVs. being controlled 30 © 2012 Zetter HealthCare
  31. 31. The Best• Cash is KING!• From your ear to the bank account• Evaluate all systems/processes & controls 31 © 2012 Zetter HealthCare
  32. 32. The Facts About The Best• Less bad debt• Collect receivables more quickly• Implement operational efficiencies• Hire more qualified staff• Utilize mid-level providers properly• Have higher patient satisfaction 32 © 2012 Zetter HealthCare
  33. 33. In ClosingInspect what you expect. You cannot manage thatwhich you do not measure! 33 © 2012 Zetter HealthCare
  34. 34. For Follow-up & Further Questions Contact: David J. Zetter,PHR, CHCC, CHCO, CPC, CPC-H, PCS, FCS, CHBC 717.691.7100 Email: djzetter@zetter.com Subscribe to our newsletter at Follow us on www.twitter.com/djzetter and www.linkedin.com/in/djzetter 34 © 2012 Zetter HealthCare

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