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    Beating Break-Even: The Power of Partnerships

    Posted by Katrina Slavey and Stephanie Boim on May 19, 2016 1:00:08 PM


    One of our clients, a large hospital-owned physician practice network, needed to quickly improve their financial performance. Their Rapid Improvement Plan included goals designed to speed up the cash collection process, maximize opportunities for reimbursement, improve coding and documentation at the clinics, and increase provider productivity. Sound familiar?

    With these goals in mind, we convened in a conference room with about a dozen key players, including practice managers as well as representatives from information systems, finance, revenue cycle, and managed care. The two of us from Halley—a revenue cycle expert and an operations expert—began engaging the group in a conversation regarding the overall performance of the physician practice network. In our passion and enthusiasm for the topic, we seamlessly worked together throughout the discussion, even to the point of finishing each other’s sentences. This was just a normal day for us, supporting one another in our roles, and we didn’t give any thought to the impact of what we were modeling. But for the leaders sitting around the conference table, our synergy was a revelation: This is how it should work. This is the partnership of operations and revenue cycle in action.

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    Topics: Physician Practice Management, Revenue Cycle

    Are You Leaving Money on the Table?

    Posted by Marie Debs on Mar 31, 2016 3:06:03 PM

    As a consultant in physician network management, I regularly recommend that healthcare systems contract with an external expert to perform quarterly audits on coding and revenue cycle metrics for their providers.

    Why?

    Because if you’re not monitoring metrics, you’re leaving money on the table. And not just a few hundred dollars.

    One example of a revealing metric is the adjusted fee-for-service collection percentage. When we find that a client has not been monitoring this metric, we perform the calculation and often discover that they are leaving hundreds of thousands of dollars on the table.

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    Topics: Physician Practice Management, Revenue Cycle

    Site-neutral payments: What does it all really mean?

    Posted by Stephanie Boim on Dec 18, 2015 1:27:00 PM

    Experts agree that the days of payment differential are fading. The new and revised place of service codes become effective January 1, 2016. What are your considerations for developing strategies in a site-neutral environment?

     

    As a revenue cycle leader, one of my most challenging moments was trying to explain to an eighty-six-year-old patient why she had to pay more for her doctor visit. The patient had a great understanding of her deductible and coinsurance. She also had been seeing the same internal medicine physician for more than thirty years, as she reminded me frequently throughout our conversation.

    But things had changed. Her internal medicine physician’s practice had been acquired by the local hospital system. What was once a private practice, owned and operated by the doctors within the group, was now an off-campus hospital outpatient department.

    I asked the patient if she had seen the new signage and if she’d received the written notice describing her potential financial liability with the change in practice ownership. She informed me that she’d had to fill out new paperwork and had been given plenty of documents in return—but in her opinion, it was all a big waste of time. Nothing had changed for her in years. She lived in the same home and carried the same red, white, and blue Medicare card she’d always had. Why, she wanted to know, did she have to pay more money to receive the same care she’d been receiving for years?

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    Topics: Revenue Cycle

    Are You Maximizing the Value of Your Physician Network?

    Posted by Marie Debs and Luanne Yeley on Aug 3, 2015 10:00:00 AM

    In this post, Marie Debs and Luanne Yeley, consulting executives with Halley Consulting Group, offer insight on effective approaches to optimize revenue cycle management for physician networks.

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    Topics: Interim Management, Physician Practice Management, Revenue Cycle

    Halley Consulting Builds High Performing Medical Groups

    Insights from Thought Leaders at Halley Consulting Group

    Halley Consulting Group has a proven track record of building high performing medical practices. We can show you how to continue to benefit from the downstream revenue provided by your owned physician network, while at the same time, diminishing the losses. If this type of measurable performance improvement would be of interest to you, please contact us! We would be delighted to visit with you. 

    Check our blog regularly for industry insights on many topics, such as:

    • Enhancing physician-hospital relationships
    • Improving performance through operational governance
    • Managing medical groups
    • Evaluating revenue cycle
    • Planning physician compensation
    • Facing changes in the healthcare industry

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