Physician Practice Assessment

Our Philosophy:
We are a practice management/healthcare consulting organization that focuses directly upon the operations of the physician practice, working closely with physicians through the utilization of a bottom up approach to identify, develop and reach practice goals and objectives.

Purpose and Use:
The Physician Practice Assessment is primarily used by physicians, hospital boards and administrators, practice management organizations and hospital management companies. The primary uses of the product are as follows; 1.) to measure the overall operational value of the practice, 2.) to measure the overall potential of the practice, 3.) establish a basis for the development of a business or strategic plan, 4.) to determine acquisition or management strategies, 5.) for the identification of growth and/or improvement opportunities, 6.) to measure physician/staff performance, 7.) to validate market position and strategy.

The Physician Practice Assessment
The Physician Practice Assessment is a detailed analysis and review of the physician practice. The assessment is designed to measure the overall operational value of the practice, measure the practice potential and identify growth an improvement opportunities.

The Physician Practice Assessment is a ten-step process:

1. Gathering of Practice Information/Data
Progressive's Associates will request the following information from the physician's practice, in order to begin a detailed review of all aspects within the physician practice:

a. Physician Personal Information

1. curriculum vitae
2. years in practice, specialty
3. education, other certifications
4. credentialing information -
5. malpractice coverage and history of claims

b. Physician Practice Information

1. history and background
2. listing of services provided
3. organizational structure
4. description of practice facilities and locations
5. affiliations with local hospitals, employers, other groups

c. Market Data

1. description of market service area
2. population and median household income
3. identification of ideal/target patient profile
4. market service area payor mix
5. managed care penetration
6. list of practice competitors

d. Physician Practice Financial Data

1. audited financial statements (3 years)
2. individual physician financial statements
3. tax returns

e. Practice Budgets and Forecasts

f. Physician Practice Productivity Reports

1. charges and collections by physician
2. CPT analysis by physician
3. accounts receivable by third party payor
4. total number of patient encounters by physician

g. Physician Practice Debt Structure

1. identification of long & short term debt
2. terms and current balances of debt
3. amortization schedules

h. Physician Practice Leases

i. List of all third party payor contracts

j. Employee Listing (name, title, salary, status, yrs. of service)

k. Information System Overview (hardware and software)

l. Copies of Last Coding and Compliance Review

m. Physician Practice Contracts

n. Physician Employment Agreements

2. Detailed Review and Analysis
Progressive Associates will provide a detailed review and analysis of the data provided by the practice and begin to build the initial basis for measuring the operational value of the practice. During this analysis, our associates will compare the practice data to best practice standards and begin to identify growth and improvement opportunities.

3. Detailed On Site Assessment and Preliminary Analysis
Progressive Associates will assess and review every aspect of the practice operation, reviewing practice processes, flows and roadblocks. Our associates will review the following areas of the practice:

a. patient flow
b. front office operations
c. back office operations
d. billing and collections
e. insurance tracking and follow up
f. physician and staff productivity
g. medical records processes
h. coding and documentation
i. human resources
j. practice marketing
k. practice purchasing and inventory
l. nursing
m. information systems

Following the initial assessment, our associates will provide a review of their preliminary findings with the physicians and appropriate practice staff to validate findings and to identify additional source of information.

4. Staff and Patient Survey
Progressive Associates will provide all practice staff members and a selected number of patients with the opportunity to share their opinions, feelings and impressions of the practice via a confidential survey addressing the following areas of interest:

a. practice strengths and weaknesses
b. perception of physicians
c. perception of practice staff
d. perception of patient satisfaction
e. practice image
f. what makes the practice different
g. overall practice working environment
h. practice satisfaction
i. practice goals and objectives
j. employee satisfaction
k. patient satisfaction

5. Focused Interviews
Progressive Associates will conduct focused interviews of all physicians and staff within the practice. The purpose of these interviews is to validate and test the preliminary analysis and results of the employee and patient surveys. In addition our associates will took for additional areas in need of review. A sample of the questions asked are as follows:

a. Describe the practice processes?
b. How is the practice performing financially?
c. What is your impression of the practice?
d. Can you identify any problems within the practice?
e. What is the overall practice morale?
f. What is the overall staff morale ?
g. How do you interact with your physicians?
h. How many patients are seen in this practice each day?
i. What are your individual goals?
j. What are your future plans?
k. What is your perception of the patient?

6. Patient Focus Groups
Progressive Associates will facilitate a selected number of focus groups to validate information regarding the physician practice and results of the patient survey. The focus groups will be conducted to get "real time" feedback directly from the customer.

7. Market Study
Utilizing information obtained from the practice and other national databases, Progressive Associates will perform an initial market analysis and study to identify potential market opportunities, product/service placement appropriateness and community need.

8. Analysis and Discovery
Once the information is analyzed, the on site review, focused interviews, surveys and focus groups are completed, Progressive Associates will again analyze all of the information gathered and challenge their assumptions. Any assumptions or findings that are not adequately validated will be reevaluated and confirmed.

9. Financial Review
Simultaneous to the review of operations, Progressive Associates will prepare a detailed financial review, including a bottom up (or break-even) analysis of the practice. Utilizing practice financial reports and industry benchmarks our associates will provide a series of bench marking and placement reports that will show how the practice is performing against it's peer group.

The financial analysis serves as a key component in the determination of practice value and in quantifying potential practice growth opportunities.

Finally, all of the findings/opportunities are reviewed and challenged and additional information is gathered (if necessary) to confirm or support the conclusions.

10. Presentation and Final Report
Progressive Associates will provide a detailed report and presentation defining the opportunities identified during the assessment, providing recommendations and tools to assist in the implementation of those recommendations.

Progressive Associates will discuss the findings with the physicians, answer questions and discuss methods and options of capitalizing on the opportunities.

For further information regarding this Practice Management Tool, or other Progressive Healthcare, Inc. products and services please contact us at 615-371-9989.