Reporting and Benchmarking Performance
Reporting and benchmarking performance: don’t guess when you can know.
“Practice development” is a simple term for a significant number of small data points. If these points aren’t pulled together in a meaningful way, they’ll have no meaning when it comes to making decisions.
Our approach includes a comprehensive evaluation of where things are and where they can go. When we work with practices in need of process change, or ones that have a desire to expand, one of the first questions we ask is: what is your profitability and performance right now? Most answer the question based on feel, or how they think the practice is performing. Rarely does analytical or data-driven “proof” drive the thinking.
It’s tough to make business decisions without the analytics that support them.
And while we understand that doctors are already busy being, well, doctors, we’re also here to tell you that the most successful practice development strategies aren’t borne from guessing or hunches.
No matter the market, physicians and office managers require access to timely information in order to make effective and accurate decisions. Zymeda provides these necessary reports, whether through the practice’s existing EHR or billing system or through our extensive and meticulous analysis of your practice data. Our analytical tools and processes can show you how your practice is performing in a variety of ways, including:
- Basic financial information and the impact it has on the overall practice performance.
- Charges/productivity analysis to determine whether the practice is appropriately charging for services.
- Drill-down financial comparative analysis of where the practice performs by physician, group, or payor.
- Complexity of work analysis, ensuring the practice is appropriately coding for complexity of care/services performed.
- Peer-review benchmarking comparisons within group, region and nation.
- Financial comparison of practice to national standards for similar practices.
- Identification of revenue and compliance opportunities.
- MIPS and RAF scores to maximize Medicare reimbursement.
- Analysis/reporting/benchmarking of new providers to monitor value and set future practice development and performance targets.
- Future practice development metrics and forecasting of growth opportunities:
- Growth strategies
- Understanding patient origin
- Distribution for new locations
- Marketing opportunities
The report itself is only as good as what you do with it.
This is where Zymeda rocks. We won’t leave you hanging with a bunch of reports you don’t have the time to do anything about. Not only will we deliver high-quality, and easy-to-understand reports — we can also provide the insight, expertise, tools, and systematic approach necessary to help providers implement real change.
Whether it’s the implementation of efficient EMR reporting templates, or a more comprehensive approach to implementing long-term changes, we’re here to help. And rock. Seriously, we rock.