Do you have the data and insights you need to better manage your practice and improve profitability?
Over the years, the business of running a physician practice has become immensely complicated and labor intensive. Health plan rules and government regulations are constantly changing. And while it’s increasingly important to cut costs, increase efficiency and align compensation with productivity, it’s difficult and time consuming for practices to track these and other key success measures, let alone understand how they’re performing versus their peers.
To help, today I’m really excited to announce Allscripts Practice Performance, a new business intelligence and comparative analysis tool that responds directly to our customers’ evolving business needs.
Leading medical providers have told us they want a new generation of cloud-based solutions that give them actionable business intelligence. Allscripts Practice Performance delivers with a complete analytics and business intelligence solution enabling administrators to keep their fingers on the pulse of … virtually everything going on in their practice. Now available for the more than 100,000 physicians using an Allscripts practice management solution, Allscripts Practice Performance provides actionable information to help you manage your business and immediately respond to changes in key reimbursement and operational measures.
We give your practice a business IQ boost with:
- Pro-Active Alerts: Customized insights, defined by you, are pushed to your email or smart phone, alerting you when a key performance indicator falls outside an acceptable range.
- Interactive Dashboards: Summarize real-time measures for analysis with one-click drill down functionality for deeper analysis. Allscripts Practice Performance includes tracking for:
- Cash Flow Analysis
- Staff Processing Time
- Aged Cash Analysis
- Reason Code Analysis
- Payer Processing Time
- Unexpected Denial Rate
- E&M Code Utilization
- Comparative Analytics: Measure your practice against your peers nationally, within your state, or within your specialty. With a database of over 30 percent of all remittances processed nationally, Practice Performance provides you with credible comparative analytics to gauge your performance against your peers.
Insights + Action = Outcomes
One of the key differentiators of Practice Performance is the insights it drives. These are proactive alerts that are set up by the user and then go out on a selected schedule to let you know how you are doing on any measure you track. For example, you can set up an insight for each physician in your practice that will automatically email providers once a week to let them see how they are doing with their A/R, productivity, scheduling, etc. The provider gets an easy-to-use view of their data and they can click on the graphics and drill down to a transaction detail level if desired.
That is powerful!
But don’t take my word for it. Ask the business office at Cornerstone Health Care, a 325-provider multispecialty practice in High Point, NC. Penny Whitaker, Cornerstone’s Practice Management Systems Manager, is now a confirmed fan of Practice Performance.
“What used to take two or three months to identify denials and other financial issues now takes moments,” said Penny. “Plus, we receive proactive alerts notifying us when something is trending poorly or is outside of the benchmarks we set. This is one of the strongest benefits of Practice Performance – we can quickly identify issues and trends before they become problematic and costly, and then take action to address them.”
We hope the added intelligence in Allscripts Practice Performance will enable you to work smarter, not harder, while boosting the overall performance of your practice.
QUESTION: If your practice has operational performance issues, how are you handling them?