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Archive for the ‘Management’ Category

Medical Practices–physicians, chiropractors–is you practice doing as well as your colleagues?

Do you know your Wynn Score^©? A Wynn Score^© is a relational number that indicates how well your practice is performing. For instance, a number of 700 would indicate you are just getting by but not performing at the best your practice can do. It is much akin to having a commercial airline landing at the wrong airport 30% of the time. Not many people would continue to fly that airline. The number is an indirect relationship between you and your colleagues, but is more appropriately an indication of how likely your practice is to grow and how likely it is to collapse.

There are a number of variables analyzed to create the score. These begin with the front window, proceed through the office, through the back office, and finishing up with your practice management software and EMR/EHR service.

The Wynn Score^© includes in-depth interviews of all personnel and a thorough investigation into the billing practices utilized. Are claims being properly followed; are the patients being asked the correct questions; each and every variable that affects the well being of the practice is analyzed. It is then put in a report format separated by areas of the practice each having its own influence on the total score of the practice.

The analysis begins with a brief telephone interview with the principal(s) of the practice usually a few weeks prior to an on-site investigation of the above mentioned items plus other items too detailed to cover here. Once on-site, usually a brief review is covered with the principal(s) to see if new areas of concern have arisen since the initial telephone interview. Once the on-site is complete, usually a two or three day process, an exit briefing is handled between the principal(s) and the investigator just to go over a few of the more obvious items. Approximately two weeks later a complete report including the score is delivered to the practice and discussed with the principal(s). This reports details where the practice is doing things right and how to keep them that way, where it is falling down and what can be done to alleviate the problems and also where the practice is completely out of sync and what is needed to remedy the situation. The report’s primary purpose is not to point out the symptoms, but to get to the root of the systemic disease that is destroying the practice.

Money left on the table will affect you future! You went to school to learn the practice of medicine. Unless you have absolute knowledge and can sit down and do all of the other aspects of medical billing, practice management, human interaction, and other facets of the entire practice you do not have the adequate management skills to help your practice flourish — in fact what you have is just enough knowledge to bury it.

Help your practice to grow. Get your Wynn Score^© today!