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.