One of the most rewarding things PMI does on a regular basis is to visit Pediatric practices around the country to help identify opportunities to improve their practice. This is the first of a 5-part series of emails detailing some of the most common things we recommend to our clients. Be sure to tune in tomorrow for the next item we commonly recommend.
Wrong Appointment Types by Day of the Week
Are your scheduling templates appropriately aligned with the demands of patients? Many practices have the same number of dedicated checkup slots in their scheduling templates on Monday as Thursday even though most practices should expect higher numbers of sick visits at the beginning and end of the week. Depending on coverage issues, many PMI clients have been advised to increase the number of checkup slots Tuesday, Wednesday, and Thursday because they expect less sick visits to come into the office those days.
There is a strong correlation between the percent of well visits and the financial stability of a practice. PMI clients who are in the range of 30-40% of their visits being well checks generally have more stable financials. Since the implementation of Obamacare, checkups are usually covered at 100%, pay about 30-40% more than a sick visit, usually paid within weeks and help many practices improve their clinical score with managed care companies.
PMI’s most successful practices run reports from their EMR/billing system to identify the children who have not had a checkup in the past year. When is the last time your practice did that? Many clients we've worked with have been quite surprised (even embarrassed) as to how many children have gone a year or more without a checkup.
Keep in mind that as few as 2 more appointments per day can increase the amount available for provider compensation by as much as $40,000 provider per year. (2 Patients per day X $100 per visit X 200 days worked). There is a minimal increase in cost to add two more visits per day- allowing the money to flow straight to the bottom line. In this example, we used a lower than normal $100 per visit to offset vaccine revenue and expenses.
There are also lists called "membership rosters" you probably already receive from managed care companies showing the names and contact information for children who are linked to your practice that have not had a checkup in the last 12 months. What better way to identify patients who can schedule an appointment with you with no out of pocket cost? More importantly, when you review the membership rosters, you may find that they auto-assigned patients to you- allowing you to bring new patients into the practice!
For more information about scheduling, please feel free to check out PMI’s previous video on maximizing a Pediatrician’s schedule by clicking below or going to https://vimeo.com/142729619.