Financial success, both today and tomorrow, is grounded in the notion that the clinical, operational, and financial teams need to be rowing in the same direction. Health center sustainability requires that all functional teams are reading from the same play book. To improve financial performance, create cost efficiencies and maximize collections, communication of the key drivers of success from the financial team to the clinical/operational teams must be continual and transparent. To maximize collections, clinical staff need to be educated on how their behaviors will impact revenue - moving from today in a fee-for-service world to tomorrow and VBP models. Operational staff must be educated on how business processes and workflows will improve cost effectiveness and maximize collections. The key to success is a program that involves adequate training to all parties on what drives financial performance, continued training during orientation and annual updates, adequately designed management reports, and regularly scheduled meetings of a multi-disciplinary team.
The goal of this session is for attendees to understand the processes and reporting necessary to educate all players within the health center on how their day-to-day functions impact the financial success of the center. Best practices and tools will be shared.