Proper systems are essential to achieve consistent, growth-sustaining results. Fuel has pioneered a series of patient flow protocols designed to consistently communicate your practice’s unique value proposition to patients. Combined with cyclical, ongoing training for staff and deep-dive analytics on metrics and benchmarks, we can set your business up for growth while strengthening your mission at the same time.
At times, clinics are too focused on bringing in new patients, when in reality they could grow dramatically just by improving their current operations—having more current patients choose more treatments.
Jesse Boyer,
Regional Director
KPIs
It’s important for healthcare businesses to remain profitable so they can continue serving patients. Tracking KPIs, or key performance indicators, will allow you to determine what is and isn’t working so you can continue to grow your practice and see more patients. If you’re not using your practice’s KPIs to inform your actions, you may be missing out on valuable opportunities. Considering the factual data and how it measures against benchmarks from similarly sized practices and removing the emotional aspect of running a practice is invaluable for moving forward with intention.
Use Cases
- Determine what your practice is doing well
- Determine areas for improvement and growth
- Determine how improvements can impact your practice’s profitability and/or efficiency
Numbers tell a story. It helps if practices are curious so we can show them how they compare to other practices. But, more importantly, practices can compare their performance with their own historical data from the year before. Did they have losses or make gains? Why? It’s the ‘why’ that helps them build realistic goals for the next year.
Adria Pazour,
Regional Manager
In the ENT and audiology spaces, useful KPIs to track include conversion rates, return rates and average sale price of hearing aids. You can read more at our ENT and audiology case studies.
How Fuel Helps: We’ll help you determine which KPI data should be collected, review them throughout the year, analyze areas of strengths and weaknesses and recommend improvement plans to keep your practice running smoothly and profitably.
Revenue Cycle Management
Tracking and understanding key practice metrics and KPIs is vital to making improvements to operations. If you’re looking for answers to gaps in revenue and profitability or want to excel ahead of your competitors, we can pull back the curtain on all your operational data with our hand-built cutting-edge software—finances, marketing, even patient experience—and set benchmarks to push you into the future.
The Art of Expense Reduction and Control
- Combat high readmission rates
- Cut costs
- Keep your patient process clean and organized
Solutions include our custom-built clinical decision support system, Allergy EDGE™, which helps cut costs and keep your patient processes clean and organized.
No practice has perfect systems, processes or personnel, so there is always an opportunity to improve somewhere. We have visited hundreds of offices across the country over the last decade and have seen what works and what doesn’t, where practices struggle and where practices thrive. Where you struggle may be an area that we’ve seen success in that we can share with you.
Bryan Grant,
Director of Finance
To make commercial payer contracts more transparent and negotiable, we offer exclusive member access to CodeToolz, our proprietary review platform.
CodeToolz, organizes, analyzes and maximizes your payer contracts and fee schedules in one, simple place.
For revenue control, this is huge—e.g., a 7% increase (average) on payer reimbursements of $500,000 will put an extra $35,000 in your pocket.
Revenue Growth Opportunities Refocused for Patient Care
One of the greatest indicators of a successful revenue cycle management strategy is identifying where your practice can optimize revenue growth opportunities with respect to patient care, and one of the biggest pain points in the process is recognizing patients who are more likely to have collection issues.
We can help with issues, such as:
- Implementing counseling and payment strategies to help those who get caught up in the cycle
- Targeted marketing campaigns to those who are always on time
- Keeping your books balanced while providing more value to all demographics of your patient database
We’re here to help you keep the focus on both front- and back-end tasks proven to give you more control over your expenses, whether remodeling the tools you have or leveraging cutting-edge tech updates, making the process more fluid for your staff and your patients.
Key Growth Areas
Identifying growth opportunities is one thing, capitalizing on them is another—our team can help you accomplish both. We look at every corner of your business. If it’s key to keeping your revenue stream healthy, your staff engaged and your patients satisfied, we can optimize it. These are just a few of the many areas we can help recalibrate:
- Medical supplies contracts
- Scheduling efficiencies
- Technology updates
- Patient data management
Every practice has different key growth areas. Our regional team is available to help you identify how yours can benefit from operational efficiencies.
Staff Training
Whether large or small, metropolitan or rural—staffing challenges aren’t limited to any one practice. The right person can help accelerate growth and the wrong one can quickly bring it to a halt. Even if you aren’t currently recruiting, there are a lot of staff training options that can provide incredible efficiency gains and ongoing professional development to engage and retain your team.
Training programs help staff members to know WHAT best practices are, understand the WHY of a quality patient experience and learn HOW to provide it.
Unite Staff Toward a Common Goal
Two major concepts make training and development curriculum so valuable; the success of the business and the success of its employees. Aligning these two principles allows every staff member to focus on the main mission of every practice, providing the finest experience available for its patients. We partner with each administrator to:
- Incorporate patient engagement techniques
- Enhance communication strategies
- Improve sales strategies
Fuel’s staff training can help:
- Improve communication between front-of-house and back-of-house staff
- Streamline patient intake through front-office training
- Provide tools and leadership training to assist office managers and owners
- Train and prepare existing team members to work as audiology technicians
Gaining efficiencies through staff development can significantly improve operations without adding to your overhead costs. The core of the changes you can expect is best exemplified by Fuel’s Director of Professional Development.
Our approach will engage your staff in building communication strategies, so their voice takes the patient interaction to the next level, allowing your practice to rise above the competition.
Jim Fedio,
Director of Professional Development