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.
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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.
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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.
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question: Why does this happen?
answer: When costs go up, it's hard for provider groups to get paid more.
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In other industries, you simply increase prices to make up for costs
(insurances do not allow this)
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Therefore, you need to be proactively reducing costs. Each one of your departments should have a clear roadmap by year to reduce costs.
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As you're focusing on costs, part of your team should also be focused on revenue.
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These are the 4 drivers of revenue for Provider Groups:
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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
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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.
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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.
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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.”