Four Simple Steps to Conduct an Assessment of Your Practice.

Abstract

Medical practice management has never been more complex than it is today, with volumes of rapidly changing regulations, increasing cost pressures, and rising quality standards under the Affordable Care Act. These challenges have made it more critical for practices to assess their current position in order to determine how best to move the practice forward. A practice assessment begins with four simple steps: an evaluation of the long-term goals and motivation of the practice's owner; a review of key practice financials and how successfully the practice captures every dollar to which it is rightfully entitled; a measure of provider productivity and strategies to improve it; and an assessment of the talent and morale of the team of professionals at the practice.