Your SlideShare is downloading. ×
0
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Kareo - 3 Ways to Increase Your Practice Revenue by 25%
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Kareo - 3 Ways to Increase Your Practice Revenue by 25%

451

Published on

The simple methods of marketing your small practice and increasing your profitability by 25%.

The simple methods of marketing your small practice and increasing your profitability by 25%.

Published in: Health & Medicine, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
451
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
13
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. PAGE 1 KAREO | CONFIDENTIAL3 Ways to IncreaseYour Practice’sRevenueWe will begin in just a bit…
  • 2. PAGE 2 KAREO | CONFIDENTIALYour Hosts Today…Rochelle GlassmanPresident of Phoenix Physician Services, IncTerry DouglasDirector Brand Marketing, Kareo
  • 3. PAGE 3 KAREO | CONFIDENTIALOur Schedule for Today…1 Introduction & Welcome Rochelle2 Learn 3 Ways to Increase Profitability3 Discover Kareo’s Role4 Answer Questions
  • 4. PAGE 4 KAREO | CONFIDENTIALRochelle 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• Rochelle@pps247.com or 602.685.9500
  • 5.  Has declined, in general Change the way we must do business Some specialties have seen large decreases inreimbursement and patient volume since 2010 General surgery (-12%) Orthopedic surgery (-10%) Radiology (-10%) Emergency medicine (-8%)*Source: Medscape Physician Compensation Report 2012
  • 6. 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
  • 7. ICD-9MiningManagingScheduleRx Refills
  • 8.  Consumer marketing is traditionallyprescriptions and lawsuits Now recommended by the AMA 1% - 3% (10k – 30K, on average), per milliondollars in revenue
  • 9. ICD-9Mining
  • 10. ICD-9MiningAnalyze the Diagnoses in yourpractice! Data is free! Data rarely ever used to its advantage
  • 11. ICD-9MiningAnalyze the Diagnoses in yourpractice!Fixed intervalschedulingChronic ConditionsSchedule RemindersPatients with highBPDiabetic patientsHeart disease
  • 12. ICD-9MiningAnalyze the Diagnoses in yourpractice!Seasonal schedulingSummerPhysicalsWell-womenPreventativeFallVaccinationsFlu visits
  • 13. ICD-9Mining Create a text, email, phone and mail remindersystem
  • 14. ICD-9Mining Motivate your front-office staff Create bonus incentives
  • 15. ICD-9MiningThe results?IncreasedpatientsatisfactionIncreasedpatient visitsIncreasedrevenueFree moneyfrom healthplans formeetingqualityindicators
  • 16. Managingyourschedule
  • 17. ManagingScheduleMaking the most of your time Time is money Schedule generates revenue Patients that can’t be scheduledimmediately (especially in primary care)will seek care elsewhere Front office never strategically schedulespatients Every unfilled appointment represents lossof income
  • 18. ManagingScheduleCapitated vs. Fee-for-Service (FFS)Fee-for-ServiceServices unbundled andpaid for separatelyCapitatedSet fee paid to physicianfor a given patient,regardless of whatservices are performed(except carve-outs)
  • 19. ManagingScheduleCapitated vs. Fee-for-Service (FFS)FFS 70% Capitated30%Know what your percentage of capitated versus fee-for-serviceis and fill schedule accordingly…
  • 20. ManagingScheduleCapitated 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 toaccommodate the patient’s schedule Charge patients for late cancellations or no-show appointments Have waiting lists Bonus staff for increasing patient volume
  • 21. ManagingScheduleCategorize your Visits Based on TimeNew patientEstablishedPatientAcutePatientPreventative Procedures
  • 22. ManagingScheduleCategorize your VisitsDouble-bookMedicaid/Follow-up patients One in every three patients do not show up forappointment (Medicaid) 25% to 50% of follow-up patients cancel or do notshow The 50% to 75% that do show, pay for the visit
  • 23. ManagingScheduleIt’s all in the way you say it!Call me ifyou’re notfeeling betterSee you in fivedaysVersusLet’s get you in right away, when are you available to be seen?
  • 24. ManagingScheduleTrain your Front Office Staff Implement accountability Set expectations Implement incentive programs Implement a color-coded schedule system
  • 25. ManagingSchedulePhysician/Provider Expectations Employed providers should have writtenin their employment contract the numberof patients they are expected to see andnumber of minimum patient hours they areexpected to work
  • 26. ManagingScheduleThe results?IncreasedproductivityIncreasedpatient careHealthier patientsIncrease patientsatisfactionIncreasedrevenue
  • 27. RX Refills
  • 28. Rx RefillsRefilling Prescription Refills over thePhone Refills over the phone cost practice money Taking the call Administrative time Provider review Calls and faxes made by staff No physical evaluation
  • 29. Rx RefillsRefilling Prescription Refills over thePhone Have patients come to the office to refill prescriptionsafter 90 days Write a policy for front-office staff (Provide exceptions when necessary for two-weekprescription refills) Have mid-levels complete follow-up, if available Initial appointments should be seen 30 days after firstprescription filling Schedule patients when medically appropriate (Forexample, patients that self-diagnose strep or pain andrequest a specific prescription) Family practice, pediatric and internal medicine canrealize a 35% increase in volume
  • 30. Rx Refills The results?IncreasedpatientcareIncreasedpatientsatisfactionIncreasedrevenueUp to 35%patientincreaseand familypractice,internalmedicineandpediatricmedicine
  • 31. Increased RevenueIncrease Patient SatisfactionIncreased patient careFree money from health plans for meetingquality indicatorsRx refillPoliciesICD-9MiningManagingtheSchedule
  • 32. PAGE 34 KAREO | CONFIDENTIALOur Schedule for Today…1 Introduction & Welcome Rochelle2 Learn 3 Ways to Increase Profitability3 Discover Kareo’s Role4 Answer Questions
  • 33. PAGE 35 KAREO | CONFIDENTIALDiscover Kareo’s Role“…Make Your Practice a Best Practice!”
  • 34. PAGE 36 KAREO | CONFIDENTIALDiscover Kareo’s Role“…Make Your Practice a Best Practice!”• PAHCOM has approved 1 CEU credit.• To request your credit, pleasecomplete the questionnaire at the endof today’s webinar.
  • 35. PAGE 37 KAREO | CONFIDENTIALDiscover Kareo’s Role
  • 36. PAGE 38 KAREO | CONFIDENTIALDiscover Kareo’s RoleMining theData!
  • 37. PAGE 39 KAREO | CONFIDENTIALDiscover Kareo’s RoleMining theData!UserProductivity!
  • 38. PAGE 40 KAREO | CONFIDENTIALDiscover Kareo’s RoleMining theData!UserProductivity!AppointmentNo-ShowRates!
  • 39. PAGE 41 KAREO | CONFIDENTIALDiscover Kareo’s RoleMining theData!UserProductivity!AppointmentNo-ShowRates!ScheduleManagement!
  • 40. PAGE 42 KAREO | CONFIDENTIALDiscover Kareo’s RoleMining theData!UserProductivity!AppointmentNo-ShowRates!ScheduleManagement!Patient Info!
  • 41. PAGE 43 KAREO | CONFIDENTIALDiscover Kareo’s Role“…make work funand rewarding!”
  • 42. PAGE 44 KAREO | CONFIDENTIALJoin Kareo!Visit us online atwww.kareo.comSign-up in Novemberfor 30 days Free!- Promo code 12-11RG -
  • 43. PAGE 45 KAREO | CONFIDENTIALLet’s Answer Your QuestionsIs Kareo a clearinghouse?If not, what clearinghousesdo you use?Questions Right Now888.775.2736 x1sales@kareo.com-- Questions After the Webinar --For Kareo…For Rochelle… Rochelle@pps247.com602.685.9500

×