CONSULTING

A recent practice audit captured an income leakage of over $100,000 per annum (and this was just from one team). This was simply because staff were not checking patient details and updating information which attracts a Medicare Incentive Number.

It is crucial that practice owners keep up to date on the ever-changing conditions of the health care industry. But many practitioners simply don’t know what financial reports to look at or what systems to check. Studying financial data and developing a solid budget will help you better manage your cash flow, increase productivity and make your practice more profitable, however checking your management systems, workflow strategies and organisational structure may save you thousands of dollars and help you discover thousands of dollars.

A practice audit analyses 50+ different systems in your practice. These include financial, management and human resources. It also includes an in depth look at your medical software i.e. Best Practice, Medical Director or Pracsoft and how your staff are using the system. In most cases, the practice leakage is a result from unskilled staff or lack of proper training. So, what is the good news? The good news is that everything can be fixed!

If your revenue looks a bit “sluggish” but you are working hard, consider a practice audit. It may change the way you practice forever.

Nicky Jardine Health Training and Consulting can customise workshops for you and your team around a range of topics such as:

• Patient Triage
• Chronic disease Management
• How to deal with difficult patients

Chronic Disease management training and workflow

Revenue is directly linked to patient throughput and the use of the appropriate Medical Benefit Schedule (MBS) items to support service provision. Practice revenue is decreased when GPs do not take up new models of care that are able to earn more for the practice, or when GPs do take up the new models of care but do not claim the appropriate MBS items.

New Medicare items, including Chronic Disease Management (CDM) items, have been progressively introduced which now provide rebates for services from a broader range of health professionals. Commonwealth and state governments continue to encourage primary care service providers to develop collaborative models of care for patients.

A training program can be implemented to ensure doctors and allied health professionals are aware of appropriate use of item numbers. Well trained staff and systems can systemise an increase in remuneration so the practice can be quite profitable.

It is also proven that a two management company approach to a medical centre is beneficial for the remuneration of the practice. For example the consumables (wound dressings etc.) are purchased for the medical centre so when a patient/company pays for the visit to the doctor, a percentage is retained for the management company who supplied these goods. There are several ways to set this up.