Almost every hospital, health system, and medical group struggles to maximize revenue cycle management and overall financial performance. Ingenious Med-funded research, in fact, finds that healthcare executives say one-third of their physicians spend a minimum of 5-10 hours every week on documentation to substantiate charges, while half estimate that time to be at least 2-5 hours per week.
Complicating matters, only a quarter of respondents say leadership has enough insight into physician productivity to empower clinicians to reduce time dedicated to charges and other tasks. The survey findings also show that hospitals, practices, and health systems leave an average 11.4% of revenue on the table. Empowering physicians with leading-edge charge capture tools can be one component of improving physician productivity and organizational financial performance.
See the infographic below to understand how TeamHealth, a physician services provider, forged a toolkit to improve productivity, patient satisfaction scores and timely discharges, while reducing length of stay and readmission rates.
Download the full infographic here.
To learn more about how TeamHealth established the program to address workforce shortages and financial pressures, read the case study: How TeamHealth Built a ‘Hospital Medicine Productivity Program’ to Drive Efficiencies with Ingenious Med’s Help.