Like good marriages, successful relationships with contracted facilities don’t just happen. A mutually rewarding arrangement takes a good bit of work that can yield extraordinary rewards.
We have noticed anesthesia groups’ may see issues arise with their contracted facility due to gaps that invariably have occurred in one or more of the three R’s of anesthesia practice management: relationship management, revenue management and responsiveness.
Think about your own practice: How well is it performing in the three R’s?
It’s easy for practices to begin taking their contractual relationships with facilities for granted – particularly when they’ve partnered for many years. After the ink has dried and throughout the life of the contract, it’s critical to keep the relationship healthy with consistent communications reminding them of your value.
How often does your practice leadership strategize, both formally and informally, with facility administration and staff? How quickly do you cement relationships with new, key players? As the saying goes, if you’re not at the table, you’re on the menu.
Revenue management is just as critical as relationship management – especially when the hospital or ASC supports a practice financially. Facility leadership needs to remain confident that the anesthesia practice is a well-run business that can stay on top of its contractual requirements.
How well does facility leadership understand your practice’s ability to meet its obligations today? Are they confident that you’ll continue to need only minimal support to bring in optimal revenue?
Even with the best relationship and revenue management, issues will undoubtedly pop up. When they do, quick resolution is essential. Make sure at the start that your partners know you have a plan for the many different facets of your business. If you don’t – if facility leadership thinks the practice is OK with letting an issue go unaddressed – it will likely hinder any progress made in the other “R” areas.
Have there been times when a minor issue with the facility became a real problem that could – and should – have been headed off early?
abeo’s practice management services are built squarely on streamlining the three R’s into anesthesia workflows. If your own relationship with your contracted facility isn’t everything it should be, we’d love to talk – the starting point is here.
abeo Management Corporation (abeo) serves as a leading source of revenue cycle management and practice management with a specialization in anesthesia. The company leverages its people, processes, and software to serve independent practices, surgery centers, hospitals and healthcare systems with a scope of services that include billing, coding, transcription, practice management, and business consulting.