Over the last several years, private practice financial fundamentals have fundamentally changed. Using our proven processes and technologies, CTech is able to assess the overall financial health and long-term viability of a practice and provide valuable insight.
Typically, the starting point is a data-driven detailed analysis of electronic Claims data (de-identified or otherwise) and spotting any odd patterns and anomalies there. Conducting a similarly detailed analysis of practice’s payroll, office expenses, financial policies towards patient collections are just the first few steps.
Identifying problematic procedures and services Analysis of patterns and trends Analysis of Contractual Agreements with payers and any differences between contracted and paid rates Product line analysis based on collection and expenses Financial and compliance policies – patients, payers and regulatory agencies Benchmarks related to other similar practices Implementing best practices Providing practical ideas for improvements
Making adjustments to day-to-day work processes
Overcoming any potential compliance red flags
Assistance with MU2 and MU3
Reducing denials and rejections
Raising awareness regarding potentially problematic claims submission
Improving contract negotiations
Identifying problems, driving process changes and ultimately improving cash flow is our goal. No matter the size of your practice, we assure you that you'll find CTech's practice analytics invaluable.
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