Because each setting is unique, The Fox Group will custom tailor its audit to the individual profile of the healthcare business being assessed, taking into account the organization’s size, service line, and strategic goals. That said, this depiction should be viewed as a window into those areas that may be assessed in your own business … potentially uncovering a myriad of opportunities.
Physician Practice Assessment – Financial Management (Sample)
Analyze practice profit and loss performance
Annual operating budget and budgeting practices
Review managed care contacts
Analyze medical billing and collections
Analyze Accounts Payable
Banking
Financial reporting
Physician Practice Assessment – Operations (Sample)
Effectiveness of patient appointment system
Review medical records
Patient check-in processes
Physician Practice Assessment – Administrative Activities (Sample)
Office automation
Human resources deployment, practices and benefits
Risk management
Physical Plant
Referral development
HIPAA and Compliance
Internal control
Physician Practice Assessment – Strategic Options (sample)
Identified areas new volume/income generation
Value of a Comprehensive Physician Practice Assessment
The value of a periodic “check-up” of your Medical Practice has the potential to be quite large. Engaging an expert to review your business operations is just as important as a periodic “check-up” of a patient’s overall health. Catching problems early, keeping focused on the “big picture”, and basing strategic decisions on known data are the cornerstones to success.
If you would like to discuss assessment needs in your practice, let us know. We’re ready to help you navigate toward your future.