The business side of healthcare presents physicians with extreme challenges. These range from creating business strategies to supporting their practices to increasing revenue. New technologies, changing insurance regulations and requirements, improving patient care, and finding staff to keep the practice vital can be difficult goals to achieve for providers and office managers.

There are so many things to keep up with, in fact, that physicians may wonder, “What is healthcare consulting, exactly?” Fortunately, Bloom Consulting Agency has the solution.

An outside review of the practice from a knowledgeable healthcare consultant offers a fresh look. It also offers recommendations for ways to increase efficiency, improve revenue, and make positive changes in workflows to achieve providers’ goals.

So what does healthcare consulting do? Healthcare consulting utilizes the tools and the knowledge professional healthcare consultants have accumulated to analyze and recommend new business strategies. It also improves work flow, increases revenue, and improves patient satisfaction. In addition, healthcare consultants can bring new and diverse ways of thinking to providers who are working hard just to stay open.

After a review, practices can implement the recommended new practices and policies to see immediate results with increased productivity, higher revenues, and higher patient satisfaction ratings. Organizations can improve business for healthcare providers, no matter the size of the practice or organization, with the help of healthcare consultants.

Some reasons why healthcare consulting is becoming more necessary include:

• Continuous introduction of new technologies
• Costs of maintaining a physician’s practice are skyrocketing
• Patient needs are shifting due to changes in health insurance requirements and contracts
• Contracts with insurance companies are becoming more difficult to negotiate

How Physicians Benefit from Healthcare Consulting

Health consulting shows its benefits immediately, once recommendations are put into action. Revenue increases and workflows work more efficiently, making the workplace much more pleasant. Patient satisfaction begins to increase while productivity increases thanks to the new protocols in place. Maximizing time with patients is important for the physicians to create optimum patient satisfaction. In as little as a year’s time, organizations will see a return on their investment. 

Physicians benefit because they have a new understanding of what is transpiring within their business. Also, they can realize how valuable the consultant was for their business. Education on all levels of the support staff also increases awareness of how additional revenues can be captured. Streamlined workflows increase confidence within the team while engaging the support team which enhances the work environment. Healthcare consultants enhance the administration of the organization with tools to promote a positive workplace environment. 

Why Is Healthcare Consulting Important?

Healthcare consulting is an important decision to make for physician and healthcare organizations. When a practice has explored their monthly reports and does not see the revenue results they desire and need, an extra set of professional experienced eyes are needed.

The administration of the practice needs to reach out to those experienced in finding out where the problems in a practice lie, where revenue could be increased, which codes could be utilized that are not currently being billed and how the workflows can be more efficient.

Running a practice is extremely expensive for physicians. Gaining insights into what needs to be improved, added, or taken away from the way the business is run is essential to keep practices in the black. For this reason, healthcare consulting is an investment in the medical practice’s future. 

Review of the following systems will allow the professional healthcare consultant to recommend positive changes throughout the practice:

• Review and identify strengths and weakness with workflows throughout the practice or organization
• Implement Construct workflow changes and revenue opportunities
• Recommend changes to the work environment and support tools that can be useful for increasing efficiency
• Install adaptations to increase patient satisfaction rates 

How Healthcare Consulting Brings Immediate Effects to Your Practice

Healthcare consulting brings immediate benefits to your practice by allowing for less stress in the workplace. By streamlining workflows and providing support to staff, the organization projects a healthy and positive environment. As a result, these organizations will see their patient satisfaction ratings increase.

The chain reaction of positivity continues to the administration, who can observe how orderly the atmosphere is and discover a new outlook for revenue in the reports. In addition, patients can benefit when the support staff knows the importance of collecting copays, patient balances, and scanning insurance cards. Reducing patient wait times increases patient satisfaction. 

Targeting charge capture errors can reduce denials and boost revenue. Physicians begin to bill the previous missed opportunities to capture charges unknown and correctly code in charge entry. In response, the healthcare consultant can recommend changes after reviewing current E/M levels and fill in gaps with other charge opportunities. This quick fix shows dramatic results very quickly. In conclusion, healthcare consulting proves to be an excellent choice for providers who may be missing opportunities for reimbursement in their practice. 

How We Can Help Your Practice or Organization

If you are considering a healthcare consultant in the South Florida area or beyond, contact us with your concerns and needs. We offer experienced and professional healthcare consultants who can evaluate your practice or organization and recommend positive and efficient changes. These changes can increase the satisfaction of your patients and increase revenue. Contact us today to make an appointment.