Operations Management takes on many definitions and can be all encompassing. We diagnose and simplify the issues each healthcare organization faces. Together we will assess your organization’s strengths and weaknesses, identify opportunities for improvement and growth, detect cost savings and suggest technological solutions to improve performance and track outcomes.
Our team thrives on providing solutions to acute challenges and building best practice organizations.
PRN’s Advisory Team is focused on:
Revenue Management – It starts with proper credentialing of the physicians and staff with third party payers and continues until complete payment for services are rendered. Unless a thorough analysis of your system is made with appropriate metrics and reports to identify issues and opportunities the organization will remain susceptible to future challenges and historical issues. PRN leaves every healthcare organization with the tools and knowledge to continue successful operations.
Contracting – Fee for Service, Capitated Payments, Bundled Payments, Global Payments, Value Based Payments, and Pay for Performance Payments are all part of an increasingly complex system of reimbursement arrangements from both public and private payers. Each of these mechanisms possesses different rates, terms, conditions, and reporting methodologies. PRN has the experience to traverse these complicated challenges to ascertain appropriate valuations placing the healthcare organization in a secure and opportunistic position.
Workflow Analysis and Staffing – Every organization is different and that is why one solution does not fit all. Although there are best practices, determining those most appropriate to each healthcare entity is vital to success. PRN utilizes data from industry wide resources to assess and determine the best solution for each organization. We will identify and analyze your areas of opportunity and then design, launch, and support an operations improvement effort that makes more efficient use of resources and improves financial performance. Redesigning workflows, altering staff patterns, implementing technology solutions, reengineering management roles, and renegotiating supply contracts are a handful of solutions that may be appropriate for the organization.
Mergers, Acquisitions and Affiliations – Accountable Care Organizations (ACOs), Physician Hospital Organizations (PHOs), Management Service Organizations (MSOs), Joint Ventures (JVs), Medical Management Companies, National Medical Practices, Regional Medical Practices and Private Equity Firms are among the multitude of models to operate, create value or sell healthcare organizations. As a leader in a healthcare organization, it is your responsibility to sort through these varied and complex opportunities and relationships. Major initiatives confronting healthcare entities center on clinical integration and value creation. Our advisors succeed in putting your organization in-front of the best opportunities focusing on your goals.
Technology Deployment and Implementation – Each organization must assess the continual choices of technological solutions balancing budgetary constraints. The ability to report data, integrate and interface with platforms of hospitals, third party payers, pharmacies, ancillary providers and other entities can be daunting. The decision on which tools to provide a reasonable Return on Investment (ROI) can be difficult to anyone. Our team of advisors focuses on assessing your current inventory and matches your organization’s needs keeping in line with the budget.
Outsourcing – Frequently we are approached to identify opportunities to outsource various functions within a healthcare organization. Whether it is within the U.S or overseas our experts will identify the resources, risks, rewards and methods when engaging outsourcing entities. PRN has an international staff to guide your organization to identify, investigate, evaluate, and implement any outsourcing relationship.