NET REVENUE CALCULATOR
NOTHING BUT NET
Knowing your net-revenue per hour, allows you to make decisions based on what is best for your practice. Any time not spent on patient care by you and your staff equates to lost revenue, but how much? This exercise allowed me to see the true cost to the practice our doctors and staff were focused on maintaining our compliance program instead of on patient care. With most practices being one or two doctors, the added cost to truly manage modern compliance may not make good business sense, but the requirement is still there. When we delegate our compliance program to the staff, how do we know that they are doing everything right?
Here are some questions to consider.
- Do you have a compliance manual?
- If so, are you updating it regularly?
- Do you have full-time employees?
- Do you have a dedicated staff member monitoring compliance?
- If so, is that person trained and certified?
- Are you doing regular chart reviews?
- Are you doing a quarterly compliance gap analysis?
- Afraid you don’t know what you need to know?