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School of Medicine Departments:
Ways to Improve Your Operating Margin
Tuesday, September 22, 2009
During the past year, school of medicine departments have
faced greater challenges in maintaining a positive operating
margin than in the previous 5 years. This Webinar will guide
department leaders through basic processes to improve clinical
revenue, review expenses in their operating budgets, provide
“talking points” for increasing development support,
and partner with faculty to reduce expenses.
Specific learning objectives:
Participants will learn basic techniques for increasing their
operating margin by improving revenue and decreasing costs.
Revenue enhancements will include processes necessary to
maximize clinical revenue throughout the cycle. These processes
include:
Monitoring and controlling the charge capture process.
Utilizing batch controls.
Addressing controllable denials.
Recognizing the impact of EMR documentation tools.
Organizing follow-up work queues.
Talking points for development will include:
Tips for introducing the concept of “giving”
to patients.
Forms of communication with donors to encourage further
philanthropic giving.
Means of decreasing operating expenses will include developing
a checklist of budget line items that should be reviewed regularly
to ensure fiscal appropriateness and methods to budget changes
as needed.
The featured presenters for this session are:
Patricia A. Adams, Senior Manager, ECG
Ms. Adams is a member of ECG’s Academic Healthcare
– West practice. Ms. Adams has over 15 years’
experience in strategic planning, financial management,
operations, human resources, and organizational development
in academic healthcare. This experience is split between
consulting and nearly 10 years at a school of medicine in
clinical planning and department administrator positions.
Benjamin
C. Colton, Senior Consultant, ECG
Mr. Colton is a member of ECG’s Academic Healthcare
– West practice. Since joining ECG, Mr. Colton has
assisted clients in revenue cycle performance improvement,
physician performance metric development, budget performance
improvement, and strategic planning. Prior to becoming a
member of our firm, Mr. Colton worked with a large multi-provider
clinic where he helped manage billing operations, including
the development of policies and procedures as they pertained
to the revenue cycle process.
The
moderator for this session is:
Earl Brigham, Principal, ECG
These sessions are complimentary to our clients, industry
colleagues, and other interested parties. ECG reserves the
right to deny access to those individuals who may pose a conflict
of interest to ECG.
Patricia A. Adams, Senior Manager, ECG
Benjamin
C. Colton, Senior Consultant, ECG
The
moderator for this session is: