CASE STUDY
How a Well-Constructed Practice Diagnostic Assessment Resulted in Substantial Financial Returns
CLIENT PROFILE
A large Midwestern surgical specialty practice with multiple outpatient clinic locations servicing rural and urban patient geographical communities.
THE CLIENT ISSUE
The practice had recently gone through administrative and clinical leadership transitions, added core clinical competencies, and opened several new locations.
The group was looking for subject matter experts in the ambulatory space with firsthand operations experience with large independent surgical practice groups that could do a formal diagnostic assessment of the practice from a financial, operational, and potential strategic perspective.
THE MMG SOLUTION
MMG performed an operational and financial diagnostic assessment looking at the organization’s current strategy and business initiatives, budgets, management staffing, compensation models, operational execution, and internal policies and procedures including in depth review of revenue cycle execution, patient flow, provider access, and more.
This review included interviews of the leadership team, clinical providers, and support staff, on-site visits, and observations of patient and staff flow at their various clinical locations.
MMG spent considerable time with the groups Advanced Provider Practitioners (APPs) to discuss their concerns over fair compensation among team members, changes in their benefit program, and their desired autonomy within the individual patient clinics.
MMG provided a documented action plan including recommended actions to be taken, resourcing requirements with suggested timelines for execution and anticipated outcomes. Recommendations included a new organizational structure, phone work trees, cross training among staff in their rural locations, new employee training and onboarding, as well as established relevant key performance metrics (KPIs) for the practice to use as a daily management tool.
Lastly, MMG helped develop a revised compensation and benefits plan for the mid-level providers and support staff within the organization that would enhance productivity, increase patient satisfaction, and improve patient access while meeting the target financial budget.
THE OUTCOME
The practice was able to immediately enjoy improved administrative and operational oversight, leading to an agreed-upon strategy covering their outpatient clinics and staffing and compensation structure.
The group experienced additional benefits, including interim management and administrative support services provided by MMG to oversee the implementation of process improvement and the recommendations as outlined in the diagnostic assessment, assistance in the recruitment of a Human Resources director, and providing oversight for the monthly shareholder board meetings. The practice has seen a growth in overall employee retention, enhanced patient access / satisfaction, and improved financial performance as a result of enhancements in workflow process and execution.