Financial and Organizational Services
Our Financial and Organizational Services offer an array of programs to assist healthcare institutions to reduce costs, increase revenues, enhance resource utilization, and improve services. Each engagement is carefully tailored to meet the needs of the specific healthcare institution. Our efforts are focused to provide our clients the maximum benefit on every consulting engagement. PECA professionals are prepared to provide an in-depth analysis in the following areas of financial and organizational services:
Product Line Costing Services
Are you monitoring and measuring costs by product line? The identification of resource utilization by specific patient, ICD-9-CM codes, and DRG is essential for prudent management under managed care. We will develop resource utilization profiles by DRG and/or ICD-9-CM to identify cost drivers within product lines. We will also develop physician resource utilization profiles to identify practice pattern variations within and between physician practices. All of our files can be downloaded to the providers system to enable future analyses.
Patient Supply Charge Services
Are you managing patient supply and equipment charges effectively? The basis for constitution of patient charges to supplies, rationale for markup, and reconciliation of utilization to charges are very important considerations for both financial management and materials management. PECA professionals will analyze current systems to assess facility compliance and consistency of application. We will assess the feasibility of per diem and/or procedural charges and identify the expense of the current system compared to the net revenue impact. We will also monitor the return on investment from current markup schedules, as well as the efficiency and accuracy of the charge generation process.
APG Compliance Services
Are your practices consistent with the new APG Guidelines? With the new regulations mandating documentation of supplies and services for ambulatory services, we can assist clients to maintain compliance with the new regulations and maximize reimbursement under the new formulas. We will analyze resource allocation for ambulatory services and assure that supplies and services are appropriately documented for reimbursement purposes. We can also train staff to assure the benefits of our efforts are ongoing.
Rate Optimization Service
Are there still opportunities to maximize net reimbursement through strategic pricing? For most situations, the answer is still yes! The charge payers are declining in frequency, but are not extinct. PECA can assist hospitals to maintain financial viability through differential rate increases and/or restructures. Utilizing a microcomputer application, PECA will analyze historical revenue files by payer class to maximize revenue by department and procedure. Our typical engagement generates six figure increases in net revenue to the institution's bottom line.
Are you in compliance with the variety of standards developed by accrediting and regulatory organizations? Standards developed by the Joint Commission for Accreditation of Healthcare Organizations mandate that all position descriptions be criteria-based. In addition, OSHA, state and local agencies, and other organizations have developed regulatory guidelines with mandatory compliance requirements. PECA can assist in developing criteria-based position descriptions that provide prescriptive and proscriptive expectations. We can provide a review of your facility to determine the degree of compliance in your current operations and documentation, thereby facilitating preparation for JCAHO and other accrediting and regulatory organizations.
Performance Measurement Services
How does your facility measure up? With the variety of processes involved, the absence of overall standards of performance measurement, and the lack of uniformity in the roles and responsibilities of support services in otherwise similar institutions, evaluating the effectiveness of support service functions can be frustrating. PECA professionals can assist in the development of a series of meaningful parameters of performance to provide ongoing assessment of the strengths and weaknesses of the healthcare institution's operation.
Resource Allocation services
Are you staffed appropriately? Using our database of hundreds of client healthcare facilities, we can analyze staffing levels. We can evaluate service provision, define work standards, and assist clients to develop and implement productivity systems and standards to assure prudent labor resource utilization. Most importantly, we can re-engineer processes to assure maximum resource utilization while maintaining and/or enhancing service quality.
Activity-Based Costing Services
Are you measuring and monitoring non-direct costs? Utilizing our vast experience in financial management, accounting, and operations, PECA staff can provide detailed analysis of the cost of service provision to patient care areas to assist senior management in identifying non-direct costs for negotiating managed care contracts. We will identify resources provided to support patient care areas and identify opportunities for cost reduction or redeployment of resources. We can also provide measurement tools to enable clients to maintain these monitoring tools on an ongoing basis.
Do you have the resources to implement the initiatives that you plan? Our professionals can provide ongoing assistance to healthcare institutions to train and educate staff and/or provide implementation assistance on an interim or ongoing basis. Our expertise in change management can help healthcare institutions translate conceptual design to performance reality.
Do you have a vacancy in management? PECA staff can provide management assistance to support client medical center's short term and/or long term objectives for administration, patient care services, perioperative services, materials management, pharmacy, food and nutrition, plant and facilities, and other support services. Our staff will function as the managers of key function and implement systems to produce immediate and ongoing bottom line savings.Our on-site managers can provide transitional management (used to implement specific interventions), replacement management (used to bridge the gap between permanent managers) or management mentoring (combining Transitional and Replacement Management with active mentoring).Regardless of the management function, our managers will demonstrate team approach through open communication, conflict resolution, problem solving, and staff development.