FTI Consulting professionals have expertise in every aspect of the Physician Enterprise. From operations to valuation and compensation planning, from productivity measures to leadership mentoring, our experts bring a partnership model to virtually every model of today’s Physician Enterprise.
- Physician Practice Operations Review
- Physician Partnership Alignment
- Professional Revenue Cycle
- Information Technology Optimization
- Productivity Compensation
- Interim Physician Group Management
- Professional Performance Analytics
- Customer Access Centers
- MACRA/Quality/Value Based Analysis
- Valuations Services
- Patient Access Consulting and Analysis
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 Health Solutions can provide a comprehensive view into an individual practice or to health system affiliate practices with an eye towards leveraging talent, geography, technology in order to bring a system/organization’s vision to life.
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
- Non-Provider Staffing Optimization
Physician Partnership Alignment
Key to best-in-class organizations is that their physicians are aligned, engaged and committed to partnership/affiliate organizational priorities and improvement strategies. 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.
FTI Health Solutions professionals can help bring about better alignment with physicians by providing:
- Physician Network Development
- Co-management Agreements
- Physician Practice Acquisition Guidance and Integration support
- Leadership coaching and mentoring
- ACO strategy and development
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/Advanced Practitioners understand that to achieve their clinical and business goals, they need to introduce and integrate information technology (IT) with their strategic goals, people and processes. IT is the primary engine for achieving cost containment while positively impacting patient care and enhancing 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 and also influenced by quality outcomes and overall performance.
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
- Fair Market Value Assessments
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 Health Solutions 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
Customer Access Centers
Customer Access Centers (CACs) are centralized/consolidated customer-centric service areas, that are professionally managed to deliver 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.
MACRA/Quality/Value Based Analysis
Valuation is a complex process that requires a skillful blend of fundamental analysis, industry experience and sound judgment. The FTI Consulting Health Solutions Valuation Services team draws upon extensive expertise to provide conclusions that are both reasonable and supportable. Our professionals have provided valuation services to some of the largest for-profit and non-profit healthcare systems across the country. In addition, we have worked with many of the nation’s leading law firms on regulatory, transaction advisory and litigation matters.
Our Health Solutions Valuation Services team offers a broad range of valuation services designed to assist clients on issues related to regulatory compliance, transaction planning, strategic planning, tax compliance, financial reporting, and litigation/arbitration support. Whether you are entering into various physician-related agreements, contemplating a joint venture, acquisition or divestiture, or responding to a regulatory/compliance investigation, we provide the valuation services your organization needs.
- Compensation Valuation Assessments
- Business Enterprise Valuation Assessments
- Ad Hoc Valuation Services
Patient Access Consulting and Analysis
FTI Consulting is a market leader in innovative access management model development. The impact from access management improvement initiatives is projected to be in the range of 1 percent to 2 percent of net revenue improvement, generally within 12 to 18 months of implementation. These outcomes can be achieved through concentrated efforts to engage all stakeholders (most notably patients and physicians) by implementing workflows and practices to address revenue that impacts activities at the point of initiation in the revenue cycle.
Our coordinated approach to access management performance improvement and service redesign is based on the following model:
- Opportunity Identification
- Solution Creation
- Improvement Support
Senior Managing Director
Senior Managing Director