our mission is two-fold:
one
to develop the most insightful views
of profitability for provider groups
TWO
then, from a position of deep profit insights,
strategically rolling out the best solutions for each group
the impact is clear
TWC clients achieve 7-figure improvements to their bottom line
Here's why at some point you will need to develop these insights for your group and roll out solutions.
We like to call this the “The Hard Truth” about the long-term economics of Provider Groups: If you do not innovate on costs as you Provide Care, you will have to close your doors.
In 2023 alone, we expect some groups to see an 8-10% reduction in their bottom line.
If your profit margin was 20% in 2022, it could fall to 10% this year.
If your profit margin was 10% in 2022, it could go to 0% this year.
question: Why does this happen?
answer: When costs go up, it's hard for provider groups to get paid more.
In other industries, you simply increase prices to make up for costs
(insurances do not allow this)
Therefore, you need to be proactively reducing costs. Each one of your departments should have a clear roadmap by year to reduce costs.
As you're focusing on costs, part of your team should also be focused on revenue.
These are the 4 drivers of revenue for Provider Groups:
1. Physician Days Worked
work more to increase revenue
2. See more patients on those days
work more efficiently to increase revenue
3. CMS rates
CMS controls this - it's down 1-5% for 2023
calculate your impact here
4. Increase payor/contract rates
this is a lengthy process but must be explored
If you have felt negative impacts on your bottom line, please click the button below and we will discuss your challenges and send over a step-by-step guide specific to you on how to begin reversing these trends at no cost.
We currently partner with Opthalmology Providers with 30+ Physicians looking to drive multiple seven-figure improvements and would love to explore the possibility of working together.
Don't wait - click the link below
to start improving your profitability!
3 OUTCOMES TO 7 FIGURES
top performing provider groups achieve the three outcomes below
in order to drive 7+ figure improvements to their bottom line
STRATEGIC OUTCOME
ALIGNMENT
1
First, these top-performing groups define the long-term business outcomes strategically aligned to their group, creating a shared vision/language across the different functions to ensure alignment on the outcomes
DATA
OUTCOME
ALIGNMENT
2
These groups then re-structure their varied datasets to closely measure performance outcomes against the business outcomes from #1, understanding exactly where profits are made and lost.
Their general mindset is, “Everything is possible with healthcare data. Saying otherwise is not solving the problem.”