Practice Performance Analysis
Analyzing a practice's performance is deemed highly crucial, particularly in the context of staying abreast of updated state regulations, incorporating new coding additions, and navigating decreased reimbursements.
Noticeable & Increased Profit
MTServices employs an intelligent analytical system to thoroughly assess the performance of practices. This system identifies flaws and inefficiencies within the practice's workflow. The proficient staff at MTServices has achieved remarkable success and increased revenue by leveraging insights gained from these analytics.
The Performance Analysis conducted by MTServices generates an extensive set of reports for clients. These reports offer a comprehensive array of critical analyses, providing in-depth assessments of the practice's performance. Medical providers can proactively utilize this valuable information to initiate timely and effective reforms essential for the sustained success of their organization.
Trustworthy Measures of Quality
Quality Metrics for Informed Decision-Making
Intelligent reports, derived from clinical services, offer a transparent overview of an organization's current statistics. Recognizing quality as a pivotal aspect of any business, subpar performance can adversely impact a practice, leading to irregular reimbursements.
Our innovative clinical analysis model integrates Meaningful Use (MU), Provider Quality Reporting System (PQRS), Pay for Performance (P4P), PCMH (Patient-Centered Medical Home), and Accountable Care Organizations (ACOs). This comprehensive approach not only highlights financial analytics but also provides insights into the operational performance of the organization.
Through this model, our technical analysts deliver a holistic reflection of both clinical services and overall organizational efficiency.
Statistical Analysis of KPIs
Efficient KPI management underscores the organization's commitment to excellence. Key Performance Indicators (KPIs) play a crucial role in ensuring prompt claim payments, with a targeted 30 to 35 days benchmark for Account Receivable turnover to maintain a healthy cash flow.
The Clean Claims ratio directly impacts practice efficiency, emphasizing swift processing and reducing time spent on rework. Vigilant monitoring of denial reasons enables timely adjustments, preventing claim processing delays.
Strategic understanding of major payers and adherence to their requirements, including annual fee schedules and contract renewals, ensures services align with patients' plans. This approach, encompassing aspects like prior authorization and demographics, guarantees optimal practice performance.
Provider Productivity Metrics
A comprehensive range of reports, collaboratively compiled by healthcare technical consultants and analysts, evaluates provider performance and productivity. Managers organize informational data to generate these reports, focusing on:
- Measurement of individual provider productivity and impact on the practice.
- Comparison with benchmarks across multiple practices to assess attainment.
- Identification of strengths and areas for improvement.
These reports foster provider accountability, encouraging the adoption of a high-quality culture for enhanced performance and services. Additionally, providers are educated on the proper use of evaluation and management codes to prevent revenue decline resulting from regular misuse.
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