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Improving Medical Practice Performance

Managing cash flow effectively is one of the greatest challenges any business faces. Your medical practice is no different. In fact, in many ways, managing cash flow in a medical practice is more complicated than in a typical business to consumer company. The dependency on third party payments (reimbursements) adds a dimension to your practices that few other industries encounter. Staying on top of changing reimbursements, fee schedules, diagnosis codes and treatment plan options is a daunting task. Factor in the pending patient care management protocols being ushered in by the ARRA Stimulus in 2013, along with the introduction of ICD10 coding, and the analysis gets exponentially more complicated. Unfortunately, for most physicians the days when simply practicing medicine to be financially comfortable are gone. The formula for profitability (revenues minus expenses), while still accurate, is too insufficient to create an accurate picture of your practice’s financial performance.

Acentec Medical Administrative Staffing and Services (MASS)®

Acentec’s experienced staff of practice administrators and certified coders can conduct a comprehensive  performance audit for your medical practice. Our analysis encompasses:

• Workflow efficiency
• Clinical productivity and effectiveness
• Billing accuracy and performance
• Evaluation of numerous financial metrics

When our audit is complete, your practice will have a very clear understanding of where improvements can be made. Contact the Acentec staff for more information on how we can improve your medical practice’s performance.