Perform an Operational Assessment to Determine If Your Current Space Can Support Your Practice Now and in the Future

Summary:

This article will address how to identify the necessity to renovate current space or build a new office.

Abstract:

In this era of reimbursement not keeping pace with overhead and direction of how we pay for healthcare, it is more important than ever to assess the use of the doctors’ and mid-level providers’ time in your practice. There could be a very large untapped revenue source in the misallocated time of these providers that could help your practice increase patient volume and therefore practice revenue. Accessing this untapped revenue source may require additional resources in space and staff. To determine the level of untapped revenue, the investment that will be required to access that revenue, and whether the revenue produced more than pays for the investment to obtain it, an objective assessment of your current practice flow is required.