It's no secret that hospital employed practice losses average between $50,000 and $200,000 per physician annually. In fact, according to the Medical Group Management Association, losses in excess of $200,000 per hospital are not uncommon.
As health care organizations drive toward value-based care, the ability to lessen physician practice losses continues to be progressively more critical as declining payments and revenues are more common. At nThrive, we believe in order to construct an effective and immediate improvement plan you must look to your data for answers.
A10 Physician Performance leverages your universe of data by aggregating your physician practice billing, payroll and financial data across all physician and physician groups across your system to uncover the root causes of physician practice losses.
By identifying the gaps in physician performance, the reason for and magnitude of each loss comes to light. The A10 Physician Performance focuses on the 10 economic revenue and cost drivers for which the best opportunities lie. The 10 economic drivers are:
- Visit Coding
- Charge Master
- Payer Mix
- Revenue Cycle
- Staff Costs
- Other Costs
- Physician Compensation
A10 Physician Performance accurately assesses each driver by applying nationally aggregated benchmarks and our proprietary algorithms to the data to calculate and quantify the gaps for each driver down to the individual physician level.
Through the tool, users can easily create and distribute customizable, data-driven reports to all applicable stakeholders. Thus, physicians and others will have the quantifiable insight to empower them to make the necessary adjustments that will lead to positive change.
A10 Physician Performance will pinpoint areas of opportunity within the 10 economic drivers of your physician practice. Contact us today at firstname.lastname@example.org to learn more.