Solutions << Solutions in Action << FAQ << Operations & Practice Management Consulting Questions Operations & Practice Management Consulting Questions
Why do physicians, hospitals and health systems choose MED3OOO for Practice Management?
Customers with the option to select an independent service provider have chosen and stayed with MED3OOO based on demonstrated performance. Many of our medical practice customers have previously had compulsory management arrangements through a hospital or health system based MSO, or as the result of a practice management company purchase. These physicians, hospitals and health systems are now discerning buyers who select service providers and partners that deliver. MED3OOO has proven value through results.
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How does MED3OOO differ from a typical practice management company or consultant?
At MED3OOO, we are operators and technology experts who strive with you to successfully operate your practice and improve performance. Unlike a typical applications service provider (ASP), we understand the practical application of technology in the day-to-day functioning of a medical office, and unlike a practice management company or consultant, we have produced positive outcomes through the precise application of technology. Our outcomes result in customer selection of and continuing business with MED3OOO.
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What are the benefits of accessing practice management services from MED3OOO?
MED3OOO brings the tools and additional expertise required to optimize the effectiveness of your entire practice. MED3OOO tools include policies and procedures, job descriptions, training manuals, documentation models and information systems, among others. On a monthly basis, MED3OOO provides customers with key indicator measurements presented in a clear, concise report, to support ongoing decision-making and improvement evaluation. MED3OOO’s trained and experienced local and centralized experts provide guidance and support in all aspects of practice management.
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What practice management responsibilities can I expect MED3OOO to perform?
MED3OOO offers full practice management from assessment and planning to oversight of practice management. Specific areas of responsibility include:
- Information System Implementation and Support
- RCM/Billing and Collections
- Finance and Accounting
- Training
- Human Resource Management
- Payroll Administration
- Equipment and facility management
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Which staff will my medical practice employ?
The medical practice will directly employ all clinical and support staff. MED3OOO works for the medical practice owner through a management contract, which specifies roles and responsibilities. Clinical and support staffing for each practice is dependent on the specialty, number of physicians, the volume of patient visits and the scope of services provided. Physician practice patterns can also impact the number and type of staff required to operate the practice. MED3OOO will provide recommendations regarding optimal staffing.
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How can MED3OOO supervise employees that work for the medical practice?
When MED3OOO takes responsibility for daily management and performance improvement in a practice, it is with the full endorsement and ongoing cooperation of the practice owners. Along with other responsibilities, MED3OOO is granted specific authority for hiring, evaluation, monitoring, training, discipline, and other human resource functions by the medical practice owner. Staff is oriented to the responsibility, authority, relationships and the expectations of the contract management arrangement to ensure their understanding. Issues of concern to either party can be addressed at any time.
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How can I know if current staffing and processes are as productive as they should be?
Similar to patient volume per physician, there are averages available for staff productivity in a medical practice; however the owner and/or physicians must set the productivity goal for the individual practice based on many factors. MED3OOO can assist you in setting these goals and implementing the required steps for improved productivity. MED3OOO can also help you evaluate progress toward your goals with monthly key indicator reports. These reports, generated through the MED3OOO M3/IQ™, provide physicians and practice managers with selected outcomes. Presented in a clear, concise report, your monthly key indicator report will support ongoing decision-making and improvement.
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What are Key Indicator Reports?
MED3OOO monthly key indicator reports are clear, concise summaries of clinical, financial and operational practice performance information, highlighting critical statistics. The standard Billing & Collection Key Indicator Report provides revenue, accounts receivable, denial rate and bad debt measures for monthly monitoring and troubleshooting. The Practice Management Key Indicator Report provides operational statistics including patient volume, visits per practitioner, no show and cancellation rates and capacity measures monthly for opportunity identification and improvement evaluation. Custom Key Indicator Reports provide physicians and practice managers with specialized analysis for critical decision-making and performance measurement. MED3OOO practice management staff routinely reviews key indicator reports with physicians and practice staff to maintain focus on improvement efforts and recognize the achievement of goals.
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Who can I speak to about MED3OOO’s capabilities in Practice Management?
We invite you to continue browsing through our web site for more information and to contact us directly by telephone or by email: Karla_Sartori@MED3000.com at 412-937-8887.
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