Is Your Medical Group Performing at Peak Efficiency?
30 November, 2016
Having a high-performing medical group affiliated with your system is more important than ever. Physicians are vital not only to the success in the medical group, but across the continuum of care. However, running a medical group is getting more and more challenging. Reimbursement increases are not keeping up with rising costs, government regulations are increasing, payment models are shifting from volume to value, physicians are harder to recruit and retain, there is increased competition from new providers such as retail, concierge, and tele-providers, and patient expectations for access and service are at an all-time high.
If you have recently found yourself asking the following questions, rest assured that we have the right answers:
How do we improve the financial performance of our medical group operations?
- We found $19 million in bottom line improvement for a 600-physician medical group.
How do we improve patient access and efficiency?
- By redesigning work flows in a large primary care and urgent care network, we reduced the time physicians spent on administrative tasks and rework by more than one hour per physician per day.
Can we make our recruitment process smoother, so physicians achieve maximum effectiveness faster?
- We redesigned a health system’s physician recruitment and onboarding strategy, saving over $1,000,000 in non-productive physician wages during the first year and an additional revenue gain of $780,000 from reduced timeframes between start-date and enrollment date.
How do we get our employed physicians energized around the success of our medical group?
- We created a new governance and management model for a hospital-employed group that actively engaged physicians in the strategy and operations of the medical group and designed a physician leadership development program to help support new physician leaders
Can we align our physicians’ incentives with those of our organization?
- We facilitated the development of new physician and mid-level compensation plans that support performance under new payment models by incentivizing quality outcomes, access to care, efficiency, and patient loyalty.
Is it possible to facilitate the collaboration our physicians seek, while positioning them for greater market success?
- We recently merged seven cardiology groups into one new medical group, including legal structure, governance, management, compensation, and operations.
GE Healthcare Camden Group has been helping improve the performance of medical groups since 1970. Our consultants include experienced practice administrators, physicians, nurses, revenue cycle managers, care coordinators, EMR experts, change management experts, and Lean trained performance improvement specialists.
We would welcome an opportunity to speak with you regarding your physician enterprise and how we might be able to help you answer your specific questions.
To contact our physician services experts, please click the button below and complete the short form. Our team will follow up with you at our first availability.