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Coastal Orthopaedics, PC |
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Coastal Orthopaedics is a recently merged, 10-physician group practice with several locations in Norwalk, Connecticut. IHC was engaged to perform an assessment of practice operations, finance and governance. The findings of the assessment indicated several opportunities for improvement in each of these areas. |
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Based upon
consensus of the group, the practice prioritized objectives and hired
IHC to perform an implementation. The first objective was the
creation of a formal practice governance process. This process expedited
the remaining implementation goals, because it created a structure for
partner decision-making. IHC next undertook aggressive management of the A/R,
a complete reorganization of the business office staff and functions, a
restructuring of the operational support staff and workflow,
facilitated a merger of separate
electronic medical record databases into a single integrated database,
and supported the installation of an upgraded electronic medical
record program. IHC also worked with the practice to optimize
physician productivity and workload, resulting in productivity
improvements. In addition, IHC recruited and installed a new Executive Director and recruited several new physicians. We also played an integral role in the development of a pain management business line. |
| Over the course of the assignment, IHC reworked the entire A/R, resulting in an initial surge of increased collections, and, as a result of the reorganization of the business office, a sustained monthly improvement in collections of 27%. Overall, charges were increased by 20%, and the bottom line improved by 26%. |
