Essential Skills for CV Program Management-Additional Resources

Additional Resources

Pdf Summary

The document from 2024 MedAxiom provides additional resources and references related to leadership and medical practice operations. It includes supplemental articles on topics such as dyad leadership and successful physician-administrator partnerships. The key focus is on operational and billing/revenue cycle management (RCM) Key Performance Indicators (KPIs) for medical practices in 2023, as outlined by the Medical Group Management Association (MGMA).<br /><br />For operations, important KPIs include:<br />- Physician/Advanced Practice Provider (APP) work Relative Value Unit (wRVU) productivity<br />- Total encounters and panel size for physicians/APPs<br />- Evaluation and Management (E/M) services<br />- Total procedures performed<br />- Use of the patient portal and average wait times<br />- Availability of same-day appointments and the third-next-available appointments by type (new or established)<br />- No-show and cancellation rates<br />- Turnover and retention rates<br />- Phone call metrics (volume, length, and abandonment rates)<br />- Patient satisfaction scores<br /><br />In the area of billing and revenue cycle management, crucial KPIs involve:<br />- Total medical revenue after accounting for operating costs<br />- Gross revenue figures<br />- Claims denial rates and denial write-offs<br />- Amounts of bad debt<br />- Payer mix<br />- Accounts Receivable (A/R) days and aging comparisons<br />- Charge posting and billing lag time<br />- Collections of copays and patient dues<br /><br />These KPIs serve as benchmarks for evaluating the efficiency and effectiveness of medical practice operations and revenue management. The document also provides hyperlinks to relevant articles that further explore these subjects.

Keywords

dyad leadership

physician-administrator partnerships

operational KPIs

billing RCM

wRVU productivity

patient satisfaction

claims denial rates

accounts receivable

MGMA benchmarks

medical practice efficiency