Here we are, starting another month… and just like that, we are a third of the way through 2022! It’s time for an assessment. How are you doing? When you look back at your goals for this year, how have you done? (How’s that diet plan working out?) Even if you didn’t create business goals for 2022, it’s not too late — the second half of the year is fast approaching–sit down with your team and make a plan for what you want to accomplish.
I talk about the importance of accountability, the need to align the job descriptions to the company mission, and the need to hire people who believe in the mission. When setting goals, they should be designed to support your mission. Let’s say your mission is along the lines of providing the best practical O&P care to the people in your community. How would you define the “best practical care?” I imagine we would think about timeliness of care, we would certainly have to think about affordability and profitability. After all, if the patients can’t afford it and you can’t make money on it, then you won’t be helping anyone!
So let’s look at some numbers. The WIP: Aim for Success tool is designed to help you visualize and strategically manage your patient load. This tool has many uses, but for this, let’s look at two ways we can monitor your progress. Let’s say the goal this year is to bill $2million in services. I can look at this image and see that I have about $102k scheduled for delivery in the next 30 days. To reach my goal, I need to be billing at least another $65k every 30 days. Knowing that I have about $406k in potential deliveries (see the red zone), I can reach out to the admin team and have them work to identify and schedule deliveries for those who have been seen and had codes selected. This requires coordination with and cooperation from the clinical and technical teams, as well as patient coordination. The goal would be to keep the “bucket” filled with enough work to keep the lights on.
Another way we can look at this is volume. Perhaps you elect not to share the dollar amounts with the staff. This same tool is available without financial information. We can see that there are 5 deliveries scheduled in the next thirty days. Maybe our goal is to have at least 12 scheduled deliveries every 30 days. Now I rephrase my question to the team. I would ask them to identify 7 or 8 patients in our WIP that we can get scheduled for delivery in the next 30 days.
This tool, and this approach, allow our company to strategically manage the patient load to help us meet our corporate financial goals. It has the bonus of perhaps providing care to our patients in a more timely fashion, which should lead to better physical outcomes and increased patient satisfaction. Both of which will help your reputation in the community and should help attract more patients. Learn more about our Business Intelligence here.