Managing Care: Key Functional Groups
Reading Time - 3 min
Why you should spend 3 minutes reading this:
if you fail to manage your key functional groups well, you could be losing 5-20%+ of net income each year
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At the core of the healthcare industry we have:
- the Patient, receiving care
- from a Physician or Physician Extender
- in a location
- utilizing equipment.
In today's world, patients are nudged by insurances.
Therefore, the core of the industry is:
- the Patient, receiving care
- from a Physician or Physician Extender
- in a location
- utilizing certain equipment
- due to contractual agreements
Important note - the primary source of revenue generation for many providers is the Physician completing the necessary tasks to bill services
Due to this key factor, care providers have slowly evolved to have more and more physician extenders.
Any business process that detracts from a physician completing the necessary tasks to bill services, without compromising patient care, should be passed on to a physician extender.
As medicare allowable continues to drop, the care providers that are best at maximizing the value of a physician via physician extenders will win.
When we configure ourselves to manage a clinic, we're really organizing ourselves to maximize the value a physician can generate.
This is not the only way to manage the ongoing process of maximizing physician value but for the sake of facilitating further discussion...
We identify five unique resources that need to be managed in order to provide care:
In order for your care facility to succeed, you will need to manage these five resources. We have created basic playbooks linked above to help you think about these.
High-level actions you can take based on this article:
1. Evaluate current management of functional groups
2. Develop improvement management structure to fill any management gaps
3. Improve management of functional groups via operational data
