How Does my Medical Practice Stack up Against the Best?
Speaker: Doral Davis-Jacobsen
Administrators and physician leaders need to know what benchmarks to use to assess practice performance compared to other practices. The best practices know how to collect the data and how to use the data for process improvement. Make no mistake – even the savviest of practices can overlook benchmarks. The goal of this program is to assist administrators, office managers and physician leaders in identifying the important benchmarks that will assist leadership in identifying how practice performance compares to peer practices. This talk will target examples from both from large groups and small practices. Expert Doral Davis-Jacobsen will focus on revenue cycle opportunities, staffing, production, workflow and technology, and in her presentation she will include specific examples of how practices (from the speakers own case files) have tackled various issues specific to these areas. Through this case study approach, she will provide a summary for you of how to incorporate benchmarks and assessment into your own practice.
This no-nonsense session covers the following topics:
- Identify the most common benchmarks that have the value relative to monitoring revenue cycle performance.
- Define the “rocks” to look under relative to determining if missed opportunities exist in the practice.
- Recognize signs that workflow processes are in need of an overhaul.
- Identify current market trends to assist in framing a meaningful monitoring system.
- Develop of a comprehensive Revenue Cycle monitoring strategy including Best Practice benchmarks.
- Leverage technology to improve practice financial results.
- Determine practical baselines for common revenue cycle processes.
- Come away with a Summary of the top activities a practice needs to do to improve performance.
Meet Our Expert Speaker:
Doral Davis-Jacobsen, based in Asheville, NC, is a Manager with Dixon Hughes Goodman LLP. She has over twenty years of experience in the healthcare field. Her areas of focus include managed care contracting, revenue cycle assessment, physician-hospital integration, financial analysis, operations management, project management and managerial consulting. She has a hands-on, practical style that has demonstrated significant benefits to her clients in terms of financial health and operational efficiency. She has experience on the provider side managing clinics and billing operations for large practices, on the payor side negotiating contracts and with a management company administering risk products in an IPA environment.
Ms. Davis-Jacobsen’s practice highlights include the following:
Regularly assists medical practices and hospital systems in managed care contract negotiations for physician services with major payors resulting in favorable rates including multiple year agreements with return on investment percentages over 100%.
Successfully worked with a large medical practice on revenue cycle efficiency and benchmarking to improve collections by $1 million in a year.
Worked with a small medical practice (4 surgeons) on revenue cycle optimization and improved physician compensation by 35% within two years.
Assisted a hospital with revenue cycle reengineering and improved operations and financial strength of the organization significantly.
Piloted the first Real Time Claim Adjudication project utilizing front end processes which increased time of service collections by 50% for a practice. This cutting edge process implementation has also received wide publicity from such organizations at Modern Health Care, Radiology Today and the Journal of Medical Practice Management.
Moderator: Nancy Collins, Publisher of The Journal of Medical Practice Management®
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