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    Winning the Medical Practice Game on the Revenue Side: 8 Initiatives for Integrated Delivery Networks

    Posted by Marc Halley and Stephanie Boim on Aug 1, 2018 10:14:00 AM

    One of the most prevailing misconceptions in the business of medical practices within an integrated delivery network is that downstream revenue to the hospital from physician referrals justifies the heavy practice losses.

    While this certainly seems like a credible assumption, it simply is not true—and such a belief could have a potentially devastating effect on your healthcare organization’s ability to compete in an ever-changing market.

    Here’s the reality: Medical practice losses drain precious capital from the hospital or health system—dollars that could be spent on updating technology, acquiring specialty services, improving the quality of care, or employing other strategic initiatives.

    So how do you come out ahead when you are in what seems to be a losing game? We have found that a group-wide revenue improvement strategy can work wonders in helping a healthcare organization win the medical practice game.

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    Topics: Medical Group Consulting, Revenue Cycle

    Benefits of an Operational Assessment

    Posted by Judy Treharne on Jul 5, 2018 9:53:00 AM

    Health system leaders across the country want to know, very specifically, what it takes to be successful in owning a group of practices. In other words, they want to know what it will take to become operationally and financially viable and to become market leaders in their community. In our most recent post, we discussed the goals of a medical group operational assessment and identified fundamental areas of business administration to examine. To analyze further, what are the benefits health leaders and their medical groups will realize in conducting an operational assessment?

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    Topics: Medical Group Consulting, Physician Practice Management

    A Medical Group Operational Assessment

    Posted by Judy Treharne on Jun 21, 2018 1:34:33 PM

    Across the nation, health system medical practices are showing signs of ill health. While some of the symptoms of medical group decline are obvious, others can be subtle and often go unrecognized.

    But ignoring the signs of an ailing medical group can be dangerous, and health systems that do not make substantial efforts to strengthen their owned practices and improve operational efficiency may get left behind in the current healthcare climate.

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    Topics: Medical Group Consulting, Physician Practice Management

    Taking Care of Business by Taking Care of Medical Staff

    Posted by Charlene Mooney on May 8, 2018 10:36:00 AM

    Retaining good employees may well be as critical to the health and success of your medical practice as it is to the health and well-being of your patients. So with employee retention in mind, what would you say is the most effective tool you can use to build a loyal and dedicated workforce? If you think it’s money, think again! Although few employees would turn down a raise, there are a variety of other tried-and-true tools that will reduce employee turnover and keep your medical practice staff satisfied, engaged, and productive.

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    Topics: Physician Practice Management, Front Desk Operations, Medical Group Consulting

    Pursuing Medical Practice Success: The Big Picture

    Posted by Katrina Slavey and Dale Gentz on Apr 24, 2018 11:16:00 AM
    Part of the Pursuing Medical Practice Success series:
    1. An Hour a Month Could Save You Many Sleepless Nights
    2. The Practice Manager as Change Agent
    3. The Heartbeat of Your Practice
    4. The Building Blocks for High Performance
    5. The Big Picture

    The first four parts of our Pursuing Medical Practice Success series have focused on practice operations. Do the lessons learned so far also apply to a medical group or network and not just to an individual practice? Yes, they do. Here’s how:

    Like individual medical practices, high performing medical groups and provider networks engage their providers in the operational governance of their group. We use the expression “physician led, professionally managed” to reflect the important role providers must play in achieving organizational success.

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    Topics: Engaging Employed Physicians, Operational Governance

    Are Medical Practice Staff Meetings Really Necessary?

    Posted by Judy Treharne on Apr 10, 2018 10:52:00 AM

    In a word: Yes! An efficient, well-run staff meeting can energize your team, strengthen their commitment to the practice, ensure accountability, and help the practice run more smoothly. However, without proper planning and competent meeting facilitation, your meetings could end up as the old joke describes—events where minutes are kept and hours are wasted.

    Following are some tips to help you conduct constructive, more effective medical practice staff meetings, where participants walk away feeling that their time has been well-spent.

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    Topics: Medical Group Consulting, Physician Practice Management

    Pursuing Medical Practice Success: The Building Blocks for High Performance

    Posted by Katrina Slavey and Dale Gentz on Mar 27, 2018 1:32:28 PM
    Part of the Pursuing Medical Practice Success series:
    1. An Hour a Month Could Save You Many Sleepless Nights
    2. The Practice Manager as Change Agent
    3. The Heartbeat of Your Practice
    4. The Building Blocks for High Performance
    5. The Big Picture

    We hope you’ve been reading our Pursuing Medical Practice Success blog posts and finding them useful in your practice.

    In the previous post in this series, we discussed the value of a site-specific action plan (SSAP)—a tool that serves many purposes. The SSAP is where you will

    • document the high-priority issues you and your practice providers have agreed to address in your Practice Operations Council (POC) meetings;
    • identify the goals or outcomes you want when implementing solutions to those issues;
    • make a clear statement of the tactic you plan to use to accomplish your goal; and
    • spell out the specific detailed action steps you must take to carry out your chosen tactic.
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    Topics: Medical Practice Consulting, Physician Practice Management

    Consumerism and the Medical Practice: 9 Essentials for Keeping Pace

    Posted by Lauri Miro on Mar 6, 2018 2:20:12 PM

    It’s no secret that the healthcare industry is changing. Medical groups no longer have the luxury of moving at their own pace and expecting patients to stay loyal.

    Consumers want a timely, effective response to their healthcare needs. Immediate access to urgent care and primary care—once considered a gold standard—is now an expectation. Care delivery alternatives are on the rise, putting pressure on traditional practices to enhance service or risk losing patients.

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    Topics: Medical Group Consulting, Physician Practice Management

    Pursuing Medical Practice Success: The Heartbeat of Your Practice

    Posted by Dale Gentz and Katrina Slavey on Feb 15, 2018 2:29:00 PM
    Part of the Pursuing Medical Practice Success series:
    1. An Hour a Month Could Save You Many Sleepless Nights
    2. The Practice Manager as Change Agent
    3. The Heartbeat of Your Practice
    4. The Building Blocks for High Performance
    5. The Big Picture

    If you’ve been following along with our Pursuing Medical Practice Success blog series, you know why an hour a month can save you many sleepless nights. You also understand how important it is to hire and train a savvy practice manager whose main priority is to implement initiatives and follow through on performance objectives.

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    Topics: Operational Governance, Physician Practice Management, Medical Practice Consulting

    Pursuing Medical Practice Success: The Practice Manager as Change Agent

    Posted by Dale Gentz and Katrina Slavey on Feb 8, 2018 9:58:00 AM
    Part of the Pursuing Medical Practice Success series:
    1. An Hour a Month Could Save You Many Sleepless Nights
    2. The Practice Manager as Change Agent
    3. The Heartbeat of Your Practice
    4. The Building Blocks for High Performance
    5. The Big Picture

    In our recent post, we discussed the need for medical practice managers and providers to meet regularly in what we refer to as a Practice Operations Council (POC) setting. During these meetings, council members address medical practice challenges and opportunities and make decisions about practice operations.

    Identifying challenges and opportunities is only part of what is needed, however. For a practice to move from average to superior, someone must take responsibility to follow through on the decisions made in the POC meetings—to pinpoint and carry out the tactics needed to implement change and achieve results.

    Most often, especially in a small practice, this person is the practice manager.

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    Topics: Physician Practice Management, Operational Governance, Medical Practice Consulting

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    Halley Consulting Builds High Performing Medical Groups

    Industry Insights from 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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