Over the last several years, private practice financial fundamentals have fundamentally changed. With high-deductible plans, Meaningful Use and Quality reporting, reduced reimbursements and value-based payments, the challenges are unprecedented. To deal with the level of complexity, data analytics and intelligent inferences are a necessity in order to thrive financially and keep a steady cash flow.
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 similar detailed analysis of practice’s payroll, office expenses, financial policies towards patient collections are just the first few steps.
A few of the assessments CTech offers to practices include:
Based on the above assessments, CTech offers assistance in the following:
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.