Best Of The Best 0817012

present

The Best of the Best:
What Good Managers Do That Sustain
Success
Presented by
David J. Zetter,
PHR, CHCC, CHCO, CPC, CPC-H, PCS, FCS, CHBC
Presented by
David J. Zetter,

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© 2012 Zetter HealthCare

Disclaimer
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• No copyright claimed on government material or
information. This material is designed to offer basic
information. The information presented is based on
the experience, training and interpretation of the
author. Although the information has been carefully
researched and reviewed for accuracy and
completeness, neither the author, DecisionHealth or
Part B News accept any responsibility or liability with
regard to errors, omissions, misuse or
misinterpretation.

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Takeaways

Understand what kind of practice you
have
Real life examples of how to be “the
best”
Specifics on what and how to
implement at your practice
ZHC Dashboard & Benchmark Tool

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What Are Your Habits?

Bad things happen to good practices
What is causing the losses?
How do you determine the issues?
What can be done to turn losses into
profits?
What does YOUR future hold for you?

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What Are Your Habits?

Self-improvement development plan?
Staff performance evaluations &
development plans?
Annual business plan?
Daily, weekly, monthly monitoring &
measuring?
Involved with the business or just go to
work everyday?

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Change Your Habits

Be the change agent
Lead to better results
Become a colleague of the
owner(s)/physicians
Ensure the future of the business
Ensure YOUR future!

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Change Your Habits

Be the change agent
Practices that excel
Profitability & cost management
Productivity, patient capacity & staffing
Accounts receivable & collection
Patient satisfaction
Utilize staff & teams in appropriate
ways

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The Best

Run the business like a
business

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The Best
Run the business like a business
Focus – 3 phases of practice
Job vs. career
Strategy & vision = plan
Seek counsel from experts
Goals = success
Ever changing, living, breathing
Vested interest / “skin in the game”
Be creative
Evidence based management
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The Best

Have Great Cash flow

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The Best
Cash flow
Everyone works cash flow
A/R (collections)
Communications (360o)
What works, what doesn’t
Payer contracts & negotiations
Daily, weekly, monthly, quarterly goals
Metrics
Billing & reimbursement compliance plan

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The Best

Monitor productivity,
capacity & staffing

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The Best

Monitor Productivity, Capacity & Staffing
Physical layout affects patient flow
Hours of operation
Scheduling (maximize)
Patient flow
Reception vs waiting
Location timing
Provider flow – “handler”
Care coordination

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The Best

Monitor Productivity, Capacity & Staffing
(cont.)
Back up plans
Partner w/ other practices
Always recruit to upgrade
What do you look for in a candidate?

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The Best

Patient Satisfaction

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The Best

Patient Satisfaction
Personality & attitude
Welcoming/inviting atmosphere
Reception vs waiting
Patient portal
Reduce time in “waiting”
Caring & helpful
Surveys

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The Best

Patient Satisfaction (cont.)
Where patients come from
Internet & social media presence
Highlight team role in PT satisfaction
Highlight successes
Employee morale/satisfaction

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The Best

Monitor, evaluate &
communicate

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The Best

Monitor, Evaluate & Communicate
MBO
MBWA
Job descriptions w/ responsibilities
Training, cross training & education
Regular evaluations and communications
Accountability

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The Best

Budget &
Strategically Plan

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The Best

Strategic Planning & Budgets
Ensure/insure your future
Budgets?
Not increasing prior year revenues & expenses
Built from scratch
Careful consideration
Review admin & clinical staffing levels
Largest expense & most control

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The Best

Strategic Planning & Budgets (cont.)
Benchmarks/Best practices
Contracts & fee schedules
Tremendous revenue leaks
Owner goals
Your goals
Complacency
If not growing… Doomed!

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The Best

Utilize Practice
dashboards &
benchmarking

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The Best

Practice Dashboards & Benchmarking
What is monitored & measured?
What’s important?

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The Best

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The Best

Gross Collection Ratio
Payments / Charges = GCR
Selected timeframe based on dates of service

Adjusted (Net) Collections Ratio
Payments (less credits) / Charges (less
approved contractual adjustments) = ACR
Selected timeframe based on dates of service

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The Best

Days in A/R
Total current receivables net of credits /
practice’s average daily charge amount

A/R > 120 Days
Dollar amount of A/R > 120 from date of
service / Dollar amount of total A/R

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The Best

First Pass Rate
Total clean claims / Total claims
The percentage of claims that can be
submitted without any problems or human
involvement
Use a designated period of time

Denial Rate
Total dollar amount of denied claims / Total
dollar amount of submitted claims
Use a designated period of time
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The Best

Average Paid Percent
Sum of payments / Sum of submitted charges

Average Reductions Percent
Sum of payer’s contractual and other
reductions / Sum of submitted charges

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The Best

What are we accomplishing today?
Have a plan…
Take the business to the next level
Visualize
Steps
Strategies
Vs. being controlled

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The Best

• Cash is KING!
• From your ear to the bank account
• Evaluate all systems/processes &
controls

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The Facts About The Best

• Less bad debt
• Collect receivables more quickly
• Implement operational efficiencies
• Hire more qualified staff
• Utilize mid-level providers properly
• Have higher patient satisfaction

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In Closing

Inspect what you expect.

You cannot manage that
which you do not measure!

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For Follow-up & Further Questions
Contact:

David J. Zetter,

717.691.7100
Email: djzetter@zetter.com

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and

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Best Of The Best 0817012