10 Ways a Medical Practice Assessment Can Help Optimize Your Operations

February 15, 2020

Medical billing outsourcing services are no longer a novel approach. Outsourcing is now as mainstream as you can get. It typically produces greater cost savings and outcomes following its streamlined processes, superior systems, state of the art technologies, economies of scale, and skilled labor laden with specialized knowledge and experience.

Running a medical practice as efficiently and profitably as possible is a formidable challenge. If your practice isn’t growing or isn’t keeping pace with its operational goals, you need to know why.

That’s where a medical practice assessment comes in. This assessment can help identify operational problems so they can be addressed.

It’s a comprehensive audit, and the practice-improvement evaluation and analysis will help determine which parts of your operation are working successfully – and where changes can and should be made in order to increase efficiencies.

Benefits of a Medical Practice Assessment

Here are 10 ways in which a medical practice assessment can help optimize your operations:

1. By analyzing your practice’s billing and collections performance

2. By auditing your practice’s policies and procedures

3. By assessing the technology and tools your practice uses

4. By reviewing your patient care workflow

5. By assessing your practice’s receivables management

6. By analyzing payor contracting

7. By examining your practice’s fee schedule

8. By reviewing its human resources procedures

9. By analyzing your practice’s staffing and salary policies

10. By reporting findings and making recommendations

A comprehensive assessment can have a positive impact on your medical practice’s operations, resulting in a more efficient organization, greater patient satisfaction and retention, and increased revenues.

How to Assess Your Practice

A dedicated assessment service for medical practices is the best way to have a professional assessment conducted for your business. ProMD Practice Management specializes in medical practice audits and assessments. In fact, we have years of experience helping medical practices of all sizes and types, and we’ve helped them succeed by thoroughly assessing and analyzing their business operations.

When we conduct a medical practice assessment, we cover every aspect of the practice – from billing and collections to record-keeping to staffing and contractors. We even evaluate your practice’s marketing efforts. Every single segment of your business is scrutinized with a keen focus on improving practice effectiveness and cost-efficiency.

How Does an Assessment Work?

During the typical medical practice assessment, we spend two to three days in your office reviewing these areas, conducting staff interviews, and meeting with office management. We compare the information gathered to your practice’s goals as a means of determining and recommending changes that need to be implemented to increase efficiencies. These findings and recommendations are then formally presented to your management.

But our role doesn’t necessarily end there. ProMD Practice Management can also help your practice actually implement these changes. Whether it’s providing additional staff training, operational assistance, a new billing system, or billing services support, ProMD has the tools, staff, and business partnerships needed to assist with any issue your medical practice may face.

Medical Practice Assessment Professionals

ProMD’s expertise in medical practice operations – along with certified coding medical billers – results in outstanding collection performance for our clients. Our staff is experienced in billing services, timely charge posting, collections, and detailed monthly billing and collection reports.

That’s why we can help your practice achieve a considerable increase in revenue in just a matter of months.

To learn more about how ProMD can make your practice run like a well-oiled machine, call 888-622-7498 or fill out our online form to request a billing assessment.

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