Practice Operational Assessment
The objective of the Practice Operations Audit is to examine each component of the practice, evaluate its efficiency, and recommend ways to improve office operations. We have identified a variety of factors by which to analyze the practice.
These include, but are not limited to how the receptionist answers the telephone, how office visits are recorded and billed, and how much profit the practice generates. As well, we examine or help to develop your marketing and strategic plan.
Staff members are interviewed with respect to their positions in the practice and asked to explain how they complete their tasks. We measure their understanding of their jobs against what they should know. The final report reviews all processes within the practice and how they are integrated. Each section of the report contains recommendations specific to that component of the practice. The report contains a timetable for implementing corrective action and benchmarks by which to measure the progress.
Some of the Operational areas we work on are:
Interview, observe and evaluate clerical and clinical staff and providers Review job descriptions and evaluation tools Review the Employee Manual Compare staff compensation and benefits by position with other practices Review any written protocols for appointments and visits Identify inefficient processes Evaluate space/office utilization Develop a series of operational benchmarks to be used for:
- Measuring profitability by site
- Measuring productivity by physician
- Measuring productivity by procedure
- Space utilization
- Patient traffic by day and site
- Evaluate the necessity of a consistent agenda and time for department and staff or management meetings
Some of the Financial areas we work on are:
- Develop a series of financial benchmarks to be used for measuring the financial health of the practice
- Develop a budget for one and three years
- Analyze each physician's expense and revenue as a profit center
Some of the Strategic areas we work on are:
- Review and evaluate all employment contracts
- Discuss and present potential exit strategies
- Review the marketing strategy
- Review the strategic plan of the practice
At the request of the practice, we are also available to implement the changes and steer the practice back on course.