Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
End to End Medical Billing Solutionshttp://www.medicalbillersandcoders.comwww.medicalbillersandcoders.comCopyright ©-2013 ...
End to End Medical Billing Solutionshttp://www.medicalbillersandcoders.comwww.medicalbillersandcoders.comCopyright ©-2013 ...
End to End Medical Billing Solutionshttp://www.medicalbillersandcoders.comwww.medicalbillersandcoders.comCopyright ©-2013 ...
Upcoming SlideShare
Loading in …5
×

How will more Patient Visits Reduce Practice Revenue?

125 views

Published on

Let’s admit that there is a realistic limit to how many patients a doctor can see in a single day. Additionally amidst the current physician shortage it becomes increasingly clear to physicians that patient volume’s above or below a limit may adversely affect the bottom line of the practice.

Published in: Business, Economy & Finance
  • Be the first to comment

  • Be the first to like this

How will more Patient Visits Reduce Practice Revenue?

  1. 1. End to End Medical Billing Solutionshttp://www.medicalbillersandcoders.comwww.medicalbillersandcoders.comCopyright ©-2013 M.D.C.P. All Rights Reserved.Page 1 of 3How will more Patient Visits Reduce Practice Revenue?Let’s admit that there is a realistic limit to how many patients a doctor can see in a single day. Additionallyamidst the current physician shortage it becomes increasingly clear to physicians that patient volume’sabove or below a limit may adversely affect the bottom line of the practice.Industry StandardsAmerican Medical Colleges Association projects roughly a 10-15% physician shortfall(2015 to 2020)-• Shortage of 60,000 physicians by 2015• Shortage of 90,000 physicians by 2020The most obvious difference between high-and average-performing practices is that high-performing practices have a highly-refined patient flow processes in place that enable theirphysicians to work much more efficiently.For instance Industry experts state most eye care providers (ECPs) can meet a target ofapproximately 25 patient exams per eight hour day per doctor. However this could varydepending on various factorsVarious practices sometimes due to physician shortages may over cross their patient limit - leading toreduced patient satisfaction.Dissatisfied patients are likely to harm a practice as it would lead to a decline in future referrals from theright sources besides marring the practices reputation. Moreover while combating attrition means replacingone patient with another; it does so at a high cost to the practice - eventually hindering the practicerevenue.When more than adequate patients affect a practice’s income adversely?• Seeing more patients requires harder work, creates more stress and an also result in poor qualitycare if not handled correctly• The extent of harm to a practices revenue is actually proportional to the number of its schedulinginefficiencies while dealing with too many patients
  2. 2. End to End Medical Billing Solutionshttp://www.medicalbillersandcoders.comwww.medicalbillersandcoders.comCopyright ©-2013 M.D.C.P. All Rights Reserved.Page 2 of 3These scheduling inefficiencies may include - late provider arrivals, overabundance of same-dayappointments, excessive appointment durations, unmanaged no-show frequency, and inadequate planningfor peak demand cycles –leading to unhappy patients.Practice’s can make an organized approach to increase their patient volumes prudently…The goal of any business, including a practice, is to increase income to its shareholders by selling more toevery patient, hence few steps doctors can take to increase patient volumes strategically:• Analyze the time spent on additional aspects of the patient visit and try to alter them ordelegate them.• Expand the current set-up by including more clinics or larger office.• Review the staffing needs to cater to more patients.• Attract new patients from the better performing payers hence helping strengthen practicefinances.• Gain an understanding of the clinics patients, their reason for entering the practice, and ifthis is a desirable strategy for the practice’s stability.• Present the practice as the most desirable choice for consumers and referring physicians.However amidst industry changes it is difficult for doctors to find time to streamline patient volumes in thismanner along with concentrating on billing, patient care and other administrative activities.Industry changes increasing patient flow volumes• Although the shortage started much earlier, the new law will make matters worse with physicianslikely to retire early or reduce work hours in response to the new healthcare reforms• Specialties such as Primary Care are overloaded with work and are unable to attend to new patients• With the anticipated Medicare cuts various doctors may no longer accept new Medicare patients,which is already the trend with many doctors todayPhysicians hence may find it imperative to get a specialized billing service to help improve patient volumesstrategically.Increasing patient numbers strategically with MBC
  3. 3. End to End Medical Billing Solutionshttp://www.medicalbillersandcoders.comwww.medicalbillersandcoders.comCopyright ©-2013 M.D.C.P. All Rights Reserved.Page 3 of 3• Providing consultancy to help improve patient satisfaction ratings, and quality outcome• MBC studies the revenue cycle issues of the organization, offer advice in implementingchanges for improvement, hence helping physicians focus on patient care and henceincrease patient satisfaction• A sure way to increasing practice revenue is through improved provider coding resulting inincreasing revenue by as much as 20% or more, without any increase to patient volume.MBC’s experienced coding experts offer accurate and quick results to help increasepractice revenue• MBC provides physicians advice on maintaining efficient scheduling processes and readilyunderstand the connection to their bottom line. MBC works with physicians to to enablethe very best patient experienceMBC = Consultancy + RCM + Medical Coding ServicesHighly refined patient flow processes + increased patient satisfactionIncreased Practice Revenues

×