Almost universally, hospital-affiliated medical practices have been a financial drain in tough economic times. Many hospitals and health systems have already divested their practices, or are actively considering this option. A growing number of hospitals, however, are willing to make one last attempt at improving bottom line performance.
This program will explore the typical reasons for unpredictability, explore what needs to be done to correct these problems, examine case examples of tactics that have worked (and haven't), suggest ways to develop effective operational oversight and establish performance targets, and seek strategies for replacing the employer-employee relationship with physicians with a partnership focused on practice stability.
8:30 a.m. - 8:45 a.m.
I. Overview And Introduction
8:45 a.m. - 10:20 a.m.
II. Why Are These Things So Hard To Run?
A. Some History And Our Assumptions For The Day
B. Barriers To Profitability
1. Physician Compensation Issues
2. Identifying Excess Overhead
10:20 a.m. - 10:30 a.m.
10:30 a.m. - 12:00 p.m.
A. Lost Revenue From Poor Coding And Low Fees
1. Central Business Office Operations
2. Office Efficiency Or 'How To See More Than 10 Patients A Day'
B. When Should You Divest?
12:00 p.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m. - 2:15 p.m.
IV. Learning From Private Practice
A. Streamlining The Management Process
1. Personnel Issues
b. Wage Scales
2. Meaningful Data: 'You Want That Report This Year?'
a. Effective MIS
3. Hospital/Practice Conflicts
a. 'Is This A Practice…Or A Hospital?'
2:15 p.m. - 3:00 p.m.
V. Planning For Success
A. Developing A Profitability Plan
1. Physician Contribution
2. Overhead Contribution
3. Added Revenue Opportunities
B. Defining 'Sustainable Loss'
3:00 p.m. - 3:10 p.m.
3:10 p.m. - 4:10 p.m.
VI. Gaining Physician Buy-In
A. Creating A Partnership Environment
1. Exploring Alternative Business Structures
2. Creating A 'Group'
3. We Both Win
B. Alternatives To Employment
1. Results Without Loss
4:10 p.m. - 4:30 p.m.
VII. Summary And Q&A