The ambulatory care operations and strategy professionals at FTI Consulting are experts in physician practice operations, physician-hospital affiliation models and academic enterprises. In addition, our team has designed, built and delivered accountable care solutions tailored to today’s value-based reimbursement environment.
Physician Practice Operations Review
Physicians in individual or group practices must focus on issues beyond the clinical delivery of care and management of their patients. Pressures from managed care plans, competitive organizations and other entities are forcing physicians to put critical focus on areas such as strategic planning, contract negotiation and management and office management.
FTI Consulting provides practice analysis that is equally vital to the hospitals that are affiliated with the physicians. We help physicians manage their practices more efficiently. And hospital administrators can help ensure the success of their existing physician partnerships while also presenting an environment that is attractive to new service providers.
Our experts can help bring about better alignment with physicians by providing:
- Physician Network Development
- Co-management Agreements
- Physician Practice Acquisition Guidance and Integration Support
Physician Partnership Alignment
It is critical that physicians are aligned, engaged and committed to partnership organizational efforts and improvement strategies, and are loyal to the system for which they work. In fact, it is key to best-in-class clinical care and service.
FTI Consulting professionals can help bring about better alignment with physicians by providing:
- Physician Network Development
- Co-management Agreements
- Physician Practice Acquisition Guidance and Integration support
Health care reform and other market dynamics are increasing the need for more effective alignment between physicians and hospitals. New incentive models such as Accountable Care Organizations (ACOs), Pay 4 Performance, quality programs, and gain sharing will likely change the way hospitals and physicians work together and are aligned in the future. FTI Consulting professionals are highly experienced in developing and executing mutually beneficial hospital-physician alignment models and strategies.
Professional Revenue Cycle
The lifeblood of every physician practice is its ability to bill and collect for services on a timely basis.
FTI Consulting provides a suite of services to improve revenue management, including:
- Revenue Cycle Performance Benchmarking
- Net Revenue and Cash Flow Performance Improvement
- Patient Access Assessment and Implementation
- Patient Financial Assessment and Implementation
- Cash Acceleration
- Denial Management Improvement
- Charge Capture Improvement
- Managed Care Contracting and Rate Benchmarking
- Revenue Cycle Dashboard and Workflow Tools
Information Technology Optimization
Physicians understand that to achieve their clinical and business goals, they need to introduce and integrate information technology (IT) with strategic goals, people and processes. IT is the primary engine for achieving cost containment without impacting patient care and greater collaboration with other healthcare organizations and practitioners.
FTI Consulting professionals have the tactical know-how to deliver optimized IT solutions for individual practices, groups and healthcare organizations.
Traditionally, there have been a number of ways of calculating physician productivity and compensation. Prominent among these have been volume-based metrics attached to the number of patients seen or the amount of revenues billed or collected. More recently, physician productivity and compensation are moving toward models based on relative value units.
To analyze operational productivity, FTI Consulting professionals provide the following services:
- Productivity Opportunity Improvement Analysis;
- Establishment of Custom Staffing Standards/Benchmarks
- Productivity Monitoring Systems
- Organizational Assessment
Interim Physician Group Management
Our experienced healthcare professionals can fill the full array of support roles on an interim basis. Whether serving as transitional personnel or supporting a full turnaround, FTI Consulting professionals bring a wealth of management experience to a practice, enabling it to achieve results in an accelerated time frame.
Professional Performance Analytics
The ability for health systems and physician group practices to assess physician group performance and make sustainable change requires the ability to receive and analyze your organization’s raw data and benchmarks against industry standards. Through Physician Enterprise’s Instant Informatics (i2) physician practices may transform their revenue cycle using this billing and scheduling business intelligence software. This standard healthcare reporting solution contains two primary components.
Healthcare Analytics Dashboards
These executive level dashboards are snapshots of the key metrics that gauge the health of an organization’s provider group’s performance, providing meaningful and consistent statistical feedback to leadership, including variance to budget/target, industry benchmarks and historical performance. Standard dashboards offering include:
- Provider Performance Dashboards
- Group, Department and Division Performance Dashboards
- Department Patient Access/Scheduling Dashboards
Healthcare Analytics Reporting Tool
PowerPivots are used for ad-hoc reporting and offer unparalleled drill through capabilities. They include financial and patient access details such as:
- Accounts Receivable
- Service Analysis
- Charge Lag
Our service offerings:
- Dependability, lower costs and a positive return on investment (ROI) to our customers as opposed to performing this in-house
- i2 Monthly production begins once our customer performs file extraction. i2 then performs monthly production delivers resulting dashboards and analytical tools. Delivered in Microsoft Excel, making this an easy-to-implement business intelligence tool
- No vendor software or application to download
- No username or passwords to maintain
- No expensive training sessions required; Nearly all users have prior experience with Microsoft Excel
- Illustrates positive and negative trends
- Identified performance outliers within the revenue cycle
- Customization available based on customer needs
- Built-in distribution tool to all levels of accountability with multiple options including direct to provider email, shared drives or ASP model
Customer Access Centers
Customer Access Centers (CACs) are centralized/consolidated customer-centric service areas, providing health systems with improved operating margins by combining historically decentralized operations under one management structure, creating a single professionally managed area which delivers exceptional quality of service to customers through telephony and other media sources.
These centers create the economies of scale to move to 24/7/365 customer access operating hours, employ professionals who measure, manage and continually improve the services provided to customers on a real time and predictive basis. High performing CACs improve customer satisfaction, throughput, revenue and reduce the cost of delivering care and collections. Services range from system-wide scheduling and pre-service activities (pre-registration, authorization/referral, financial counseling, price transparency, etc.) to fully mature centers providing clinical triage, telemedicine, marketing campaigns and population health management outreach. CAC’s provide health systems with a competitive advantage while providing a significant return on investment (ROI).
FTI Consulting provides a phased approach to CAC development:
- Phase 1 – Evaluate Measure and Plan, includes: engaging educating and empowering key stakeholders; a current state assessment focusing on gap analysis to best practice; and gap closure roadmap and return on investment from a financial and customer satisfaction perspective.
- Phase 2 – Transformation of people, process and technology: FTI Consulting provides full implementation project services including management, subject matter expertise, implementation resources, change management and risk remediation, collaborative design and consensus building to migrate service areas to the Customer Access Center, and building of a client self-supporting and continuous quality improvement focused management team.
- Phase 3 – Sustain: focuses on hardwiring decision support tools and key performance indicators (KPIs) to refine process to optimize and become an industry leader in defining best practice.
Senior Managing Director