Despite the vast investments hospitals have made in physician practices, most struggle with their profitability. Today’s goal may be to stop the bleed, but there’s a bigger-picture issue that also needs to be addressed: Transforming a collection of physician practices into a strategic weapon to help your hospital or system achieve your objectives? HSG’s one-hour webinar […]
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Common to most operational turnarounds, interim management engagements or employed network management contracts, is the need to perform a rigorous Practice Assessment. At Healthcare Strategy Group, we use a four-pronged approach to diagnosing your employed group’s issues before we prescribe the cure: Interviews with a broad base of physicians to ensure we receive perspectives from all […]
Background Over a three-week period, HSG performed a complete audit of an employed physician network consisting of over 120 providers, 90 of whom were physicians. It was operating at an annual loss of approximately $18M. Based on the assessment, the largest contributors to that loss were: Low physician productivity as measured by Work RVUs (wRVUs) […]
What key indicators are you using to measure the performance of your physician network? Revenue cycle measures should be at the top of your list, as failure to monitor this process is a serious error, and in many hospitals is leading to massive financial losses and unpleasant conversations with the Board. Healthcare Strategy Group has […]
Do you have a shortage of primary care physicians? Rarely do we find a client or community where the answer is no. This reality is creating challenges for patients, hospitals, and specialists alike. By aggressively restructuring your staff, modifying the mix, and modifying the physician’s role, you can start to address underlying issues. It makes […]
Major investments and significant losses are too often the outcome when hospitals employ physicians. But market realities are driving such employment, as private groups struggle economically and hospitals face the reality that employment will likely be required to ensure an adequate supply of physicians. So, what is a CEO to do? As a model, we […]
As hospitals employ physicians or acquire practices, management of the new entity is frequently a challenge. The issues in a practice differ from the hospital and the scale of the operations is much smaller. That means that mistakes are magnified, quickly showing up on the practice bottom line. The result is often an underperforming practice. […]