| by Marcy and AJ Riviezzo |
| Every year the management of a practice becomes a bit more complicated, a bit more exasperating. A physician owner has to balance staff, revenues, expenses, equipment, marketing, and competing in an ever crowded market while reimbursements continue to be flat. Finding time to do a comprehensive internal practice review is likely not high on your list. We do, though, recommend trying to find a bit of time in perhaps February or March to perform such a review.
Attached please find a Practice Operation Review worksheet for your consideration. Marcy developed this while working with some of our new practices to ensure most every element was answered prior to actually treating a patient. While some of the elements may not apply to a well-established practice other sections may apply as a greater need for review. Review Work Sheet
In our experience, many of these topics were likely addressed at some point over the course of time. But, due to staff changes, some areas may now be left unaddressed. Our recommendation is to consider handing the checklist to key personnel in your organization and let them rate each area as Met, Unsure, or Not Met. You can then compare notes rather rapidly to identify critical areas that should be addressed.
Some items, such as an HR Manual along with the various line items underneath, are a ‘nice to have’ section. Other items, including OSHA, HIPAA, and some of the HR forms are regulatory and must be addressed. There is a third category of items on the list that need to be addressed so that you understand the financial health of your practice including billing processes, the Accounts Receivables, and a review of vendor services/expenses.
Be sure to take a critical eye to any sections you do review. It is difficult sometimes to do this in the same way it is difficult to proof read your own written work. If we can be of assistance, do let us know. |
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