Traditional approaches to financial performance have focused on increasing revenue and reducing costs. However, in order to do either, physician groups are now focusing on developing a team culture with a coordinated approach to performance improvement. While revenue and costs are still an important foundation in achieving financial performance, creating a culture of performance excellence is the basis for building that groundwork. . . .
“You can’t manage what you don’t measure.”
Decreased reimbursement combined with rising insurance and overhead costs have created a challenging market for healthcare providers. Many are discovering traditional profit generating opportunities are dwindling or no longer exist. Chances are your practice has begun taking a closer look at many day-to-day operations in the hope of squeezing out more revenue while still maintaining quality patient care. . . .