START MAKING HEALTHY DISTRIBUTIONS.
There are three primary ways to improve your bottom line:
1. REDUCE EXPENSES
2. INCREASE CASE VOLUME
3. COLLECT MORE PER CASE
Accomplishing these things is not as easy it may seem. That is why about half of all facilities are supported by a corporate partner with experience in management and turnarounds. You need a partner with the business acumen to manage costs, improve revenues and build cohesiveness among partners and staff.
MedBridge will start by listening. Your facility is unique, and we want to understand its intricacies. After asking many questions to paint a complete picture, we will start designing a recovery plan. We will likely begin with initiatives that will have the greatest impact.
IMPLEMENT THE RECOVERY PLAN
- Reduce staffing costs
- Reduce inventory stock levels
- Utilize group purchasing organizations (GPOs)
- Identify unprofitable cases through case costing
- Refinance loans and/or renegotiate lease terms
Increase case volume
- Increase case volume from partners
- Meet with physician schedulers
- Recruit new physicians
- Focus on profitable case types
Collect more per case
- Consolidate and attack accounts receivable
- Update billing charge master/fee schedule
- Restructure business office
- Renegotiate managed care contracts