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This week’s BIG Idea is to combine practice management system data with your accounting data in your data warehouse and then use that data to calculate physician compensation. Whether your physician comp model is based on collections, wRVUs, or some other production-based factor, you likely have an expense side to the physician compensation calculation as well. Combining both the revenues and the expenses in the data warehouse allows you to connect the data to Excel to automate the math and speed up the month-end process. Whether that automation allows you to make calculations more quickly, more frequently, or maybe even prospectively, the time savings can be huge.
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A Vision for Business Intelligence in a Medical Practice.
PivotTables, spreadsheets, dashboards, emails, maps, visualizations, and other tools that drive practice performance, automatically refresh and can be customized by end users without IT support.
Game-changing Business Intelligence
Put Nate to Work…
Automatically Email Critical Data
If you could have a one-page email of practice information delivered daily, what would be on that page? If you could send a separate one-page email to your physicians weekly, what would you tell them? Don’t rely on team members to remember to run reports, push key practice metrics to them via email. Send your physicians producitivity reports. Help the call center fill unsold appointments. Tell your front desk how they collected copayments yesterday. Change your practice by changing the way you send data.
Discover Hidden Trends
Where is the next opportunity for your practice to find new patients, act on referral patterns, or capture lost revenue? How does this month compare with last month and last year? Why are charges increasing or payments decreasing? See information your PM/EHR won’t show you on canned reports, but will help you run your business. Empower front line managers, clinical teams, the buisness office, and providers with current data and friendly tools to make better decisions.
Customize Practice Dashboards
Canned reports show too much of what you don’t need and not nearly enough of the practice data you do need to see. Build a dashboard focused exactly on your key performance indicators. Track RVUs, no shows, collections, new patients, denials or any other metric that will make your practice successful. Build dashboards for each team that support practice objectives and the overall practice dashboard.
Drive Productivity and Performance
When performance is measured, performance improves. Hold staff, payers, and providers accountable for results with automated tools. Keep score in your practice, and put the score where everyone can see it. Track provider wRVUs, lag days, patient wait times, resouce utilization, payments according to contract, advanced practioners, data entry, the number of patients checked in by staff, unsold appointments and much more. Benchmark your perfomance against leading practices and against your practice history to see results.
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Seeing Past Tomorrow: Using Appointment Data to Thrive in the Future
Appointment data is about as close as a practice manager can come to seeing what next week and next month will look like. Join an interactive discussion on using appointment data to increase opportunities in your practice. We will discuss ways to measure patient access to your providers, to reduce no show appointments, and to maximize capacity of your most important practice resources. See how practices across America are using appointment data to identify and solve problems before patients arrive, to make staff more efficient, and to reduce the number of unsold patient appointments.
Carving Up and Drilling Down: Using Microsoft Excel’s Pivot Table Feature to Analyze a Practice’s Revenue Cycle
Microsoft Excel’s Pivot Table feature is a fast and powerful way to analyze and consolidate large amounts of data and quickly extract critical knowledge. In this webinar, you’ll learn how to use Pivot Tables in a medical practice setting to better track collections, analyze reimbursement, collect accounts receivable, and more. You’ll also see a variety of techniques to filter, sort, group, and manipulate practice data. We’ll also discuss several different applications of Pivot Tables throughout a medical practice. The presentation will be a live demonstration using Office 365 for the PC.
Better Dashboards, Better Decisions
If you could have one page of practice information emailed to you and your team daily, what would be on that page? What information should you share with various groups in the practice, and can departmental dashboards work together to build to a common goal? Join an interactive discussion with thought leaders and practice administrators to review sample dashboards from practices around the country. What do leading practices focus on? What do CPAs want to see? What motivates physicians, billing offices, front desk staff, or clinical teams to improve? How does your daily page of data become a dynamic compass to guide your practice? Come prepared to discuss successes and frustrations from your practice’s efforts to use dashboards to make better decisions.
Business Intelligence for Payer Contracting
You have analyzed your contracts, negotiated with the payers, and set new rates. Your job may look finished, but the fun is just starting! Short of reviewing every EOB and ERA, how can you ensure that the new rates are loaded correctly and that procedures are paid appropriately? What are medical practices nationwide doing to confirm that claims are being paid according to contract? What about multiple procedure discounts, modifiers, different rates for different specialties, and other contracting nuances? How can I prioritize appeals and track successful appeals? Join us for an interactive discussion on applying Business Intelligence to payer contracting.
21 Functions Every Excel User Should Know
Take a deep dive into fundamental functions that every Excel user should know. Start with basic functions like SUM, COUNT, and AVERAGE, and by the end of the session you will be using IF statements, SMIFS, and IFERROR. Use the functions to make your spreadsheets more powerful, more accurate, and more flexible. This presentation is a live demonstration using Excel. Participants are encouraged to bring their laptops and follow along. We will discuss how and where to use these functions in a medical practice setting. Invest a couple of hours in this presentation and your attendees will save time every week for years.
Business Intelligence for Revenue Cycle Management
Customized. Automated. Fast. Do these three words describe Business Intelligence in your practice? Are you relying on inflexible canned reports that tell you only part of what really matters in your unique practice, yet the reports are cluttered with lots of extraneous things you don’t need to know? Do you get new data automatically, or do you start from scratch every time you update an existing report? Does an average BI project for your practice take days, weeks, months, or years? This session will describe and demonstrate BI tools that produce customized reports for medical practices with a specific focus on an expanded view of revenue cycle management from appointments through denials.