Best Of The Best 0817012 Dh
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Best Of The Best 0817012 Dh
- 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. 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. Takeaways Understand what kind of practice you have Real life examples of how to be “the best” Specifics on what and how to implement at your practice ZHC Dashboard & Benchmark Tool 3 © 2012 Zetter HealthCare
- 4. What Are Your Habits? Bad things happen to good practices What is causing the losses? How do you determine the issues? What can be done to turn losses into profits? What does YOUR future hold for you? 4 © 2012 Zetter HealthCare
- 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 to work everyday? 5 © 2012 Zetter HealthCare
- 6. Change Your Habits Be the change agent Lead to better results Become a colleague of the owner(s)/physicians Ensure the future of the business Ensure YOUR future! 6 © 2012 Zetter HealthCare
- 7. Change Your Habits Be the change agent Practices that excel Profitability & cost management Productivity, patient capacity & staffing Accounts receivable & collection Patient satisfaction Utilize staff & teams in appropriate ways 7 © 2012 Zetter HealthCare
- 8. The Best Run the business like a business 8 © 2012 Zetter HealthCare
- 9. The Best Run 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. The Best Have Great Cash flow 10 © 2012 Zetter HealthCare
- 11. The Best Cash 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. The Best Monitor productivity, capacity & staffing 12 © 2012 Zetter HealthCare
- 13. The Best Monitor 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. The Best Monitor 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. The Best Patient Satisfaction 15 © 2012 Zetter HealthCare
- 16. The Best Patient Satisfaction Personality & attitude Welcoming/inviting atmosphere Reception vs waiting Patient portal Reduce time in “waiting” Caring & helpful Surveys 16 © 2012 Zetter HealthCare
- 17. The Best Patient 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. The Best Monitor, evaluate & communicate 18 © 2012 Zetter HealthCare
- 19. The Best Monitor, Evaluate & Communicate MBO MBWA Job descriptions w/ responsibilities Training, cross training & education Regular evaluations and communications Accountability 19 © 2012 Zetter HealthCare
- 20. The Best Budget & Strategically Plan 20 © 2012 Zetter HealthCare
- 21. The Best Strategic 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. The Best Strategic 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. The Best Utilize Practice dashboards & benchmarking 23 © 2012 Zetter HealthCare
- 24. The Best Practice Dashboards & Benchmarking What is monitored & measured? What’s important? 24 © 2012 Zetter HealthCare
- 25. The Best 25 © 2012 Zetter HealthCare
- 26. The Best Gross Collection Ratio Payments / Charges = GCR Selected timeframe based on dates of service Adjusted (Net) Collections Ratio Payments (less credits) / Charges (less approved contractual adjustments) = ACR Selected timeframe based on dates of service 26 © 2012 Zetter HealthCare
- 27. The Best Days in A/R Total current receivables net of credits / practice’s average daily charge amount A/R > 120 Days Dollar amount of A/R > 120 from date of service / Dollar amount of total A/R 27 © 2012 Zetter HealthCare
- 28. The Best First Pass Rate Total clean claims / Total claims The percentage of claims that can be submitted without any problems or human involvement Use a designated period of time Denial Rate Total dollar amount of denied claims / Total dollar amount of submitted claims Use a designated period of time 28 © 2012 Zetter HealthCare
- 29. The Best Average Paid Percent Sum of payments / Sum of submitted charges Average Reductions Percent Sum of payer’s contractual and other reductions / Sum of submitted charges 29 © 2012 Zetter HealthCare
- 30. The Best What are we accomplishing today? Have a plan… Take the business to the next level Visualize Steps Strategies Vs. being controlled 30 © 2012 Zetter HealthCare
- 31. The Best • Cash is KING! • From your ear to the bank account • Evaluate all systems/processes & controls 31 © 2012 Zetter HealthCare
- 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. In Closing Inspect what you expect. You cannot manage that which you do not measure! 33 © 2012 Zetter HealthCare
- 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