Nationwide surveys have shown that there is an increasing number of employed physicians. However, a study published by the Medical Group Management Association (MGMA) also shows that U.S. hospitals and health systems are reporting substantial operating losses from medical practices they own or operate. The reasons for these operating losses are often unclear to management, and an outside perspective from an experienced healthcare executive is needed to discover the root of the problem and develop a plan to fix it.
To address these problems, national healthcare consulting firm HSG has recently grown its performance improvement services. It hopes to tackle healthcare worker shortages, burnout, and growing pains experienced when physician practices are acquired, which can all be costly problems. Billing delays and credentialing errors can also cause health care organizations major losses and issues with their revenue cycles. HSG has expanded its network of experienced healthcare project managers and interim leaders, which will enable it to quickly send seasoned experts to solve systemic operational issues and take on special projects for healthcare organizations around the country.
"As employed physician networks grow, the infrastructure needed to support physicians often lags behind," said Davis Creech, Director at HSG. "Multiply lagging operational infrastructure by healthcare worker burnout and shortages, and you have an equation for mounting operating losses. This confluence of circumstances drove our decision to enhance our interim and temporary project management solutions for hospitals and healthcare systems. Many organizations really need an experienced boost right now to effectively get out of the weeds.”
Hospitals and healthcare systems should consider a temporary project manager or interim leader if any of the following red flags exist: Revenue cycle issues, organizational growth exceeding middle management's capabilities, new physician practices being added to the organization, high turnover rates, and strained corporate cultures.
HSG aims to discover the root causes of issues and create plans to solve problems through partnering with hospitals and healthcare systems. From employing hospital-based outpatient departments (HOPDs) and provider-based billing evaluation and training, to payor credentialing and onboarding of newly acquired private practices, HSG's veteran onsite project management team can be the answer to finishing high-priority organizational projects and developing solutions to systemic problems.