A fresh perspective to medical practice analytics

by Dennis Edens, Randal Cauley, Kishore Dharanikota

December 29, 2017

What is the Problem?

Medical practices face an ongoing challenge trying to maximize revenue while reducing costs. This can be a struggle without the right tools to analyze their performance.

Key Takeaways

  • Medical practices, independent of their type, size and specialty; require a unified view of their performance for better decision making
  • The leadership needs to be empowered with accurate and timely knowledge of the current performance
  • It is simply not enough to consider the financial benefits as a unit
  • A unified view of the practice leads to overall understanding of the services and a transformational plan will result in sustained growth and long-term viability

Executive Summary

Medical practices, independent of their type, size and specialty; require a unified view of their performance for better decision making. The leadership needs to be empowered with accurate and timely knowledge of the current performance. It is simply not enough to consider the financial benefits as a unit. A unified view of the practice leads to overall understanding of the services and a transformational plan will result in sustained growth and long-term viability.

DTS’s expertise in revenue analysis, cost management and operational excellence; our multi-sector expertise and proven methodology to deliver services differentiates us from traditional analytic specializations.

This article showcases our offerings for a small to medium scale medical practice. In future postings, we will drill into the extended offerings for larger healthcare care organizations.

Our goal is to connect the dots, present a fresh perspective to the existing problems and provide guidelines for a successful implementation of the processes.

Key Words: Medical, practice, revenue analysis, cost management, operational excellence

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