What Story Does Your Data Tell? Using Strategic Analysis to Boost Revenue and Efficiency
Does this sound familiar?
The operations team at an established specialty group is looking over their performance numbers with their executive leadership. While the numbers are positive, leadership is challenging the team to improve their numbers significantly to meet targets for growth. Improving efficiency is possible but can it be done while maintaining or, better yet, improving the quality of patient experiences?
Health organizations are eager to embrace outcomes where improving efficiency and patient experience can turn their access center into a revenue generator. But what action steps need to be taken to achieve this goal? Whether the issue(s) lie with enhancing patient experiences, adapting to physician preferences, revamping outdated workflows, or most commonly, persistent turnover; most medical group market or system leaders have a clear sense of the challenges in front of them but need direction on overcoming the challenges.
Introducing LYP Health Management
LYP specializes in offering tailored solutions that align precisely with specific organizational needs and goals through streamlined call center operations, simplified referral management, and customized workflows to predict and meet appointment demand and enhance the patient experience. By leveraging insights from clients nationwide, coupled with data-driven analytics, LYP crafts personalized solutions to ensure our services fit our clients’ objectives, optimizing operations, and delivering tangible benefits. Taking results one step further, LYP transforms access centers from cost centers into revenue drivers. Persistent turnover challenges are mitigated, reshaping access centers into strategic assets, positively affecting operational efficiency and the organization’s bottom line. LYP is a URAC-certified contact center and was recently named a Top Medical Scheduling Solutions Provider by Healthcare Tech Outlook magazine. Read the profile here.
“LYP empowers clients to gain a deeper understanding of their challenges and navigate through them effectively,” said Kenneth Marsh, LYP Health Management’s Chief Analytics Officer. “It’s not just about recognizing the problem and the magnitude of it’s disruption; it’s about crafting solutions that drive positive transformations in patient outcomes, operational efficiencies, and financial success. I’m proud to work alongside health systems that are all about making their communities healthier and happier. By turning data into intelligent insights, in a roundabout way, I get to play a part in the shared missions of our clients – to improve the lives, health, and well-being of people in their communities.”
LYP’s process involves Marsh and our Workforce team taking a deep dive into operational workflows, examining key performance indicators, and benchmarking against industry standards. By integrating insights from our experiences with diverse healthcare organizations, the team pinpoints inefficiencies and develops targeted strategies for improvement, ensuring a data-driven pathway to operational excellence.
Theory Put into Practice
Recently, a prominent healthcare system with practices spanning the United States, was facing challenges in staffing, workflows, and in the palpable frustrations of physicians. The physician-administration dynamic, strained by challenges around patient access and experience, had reached a tipping point. Physicians were vocal about their concerns, specifically the inefficiencies and frustrations stemming from the existing call center operations.
LYP took a hands-on, collaborative approach, engaging in open dialogues with physicians, understanding pain points, and weaving insights into an action plan. The healthcare system’s nationwide scope demanded a nuanced approach to streamlining call center operations and referral management, ensuring that the solutions LYP implemented were not just efficient but resonated with the needs of the physicians and their patients.
Simultaneously, LYP turned its attention to the access centers, acknowledging the toll high turnover rates were taking on both staff morale and patient care. The goal wasn’t just to address the turnover issue but to transform the previously siloed centers into a universal dynamic gateway to service all locations. By optimizing workforce patterns and reshaping operational strategies, LYP not only alleviated physicians’ concerns but also demonstrated tangible improvements in operational efficiency.
The impact was transformative. Physicians, once vocal about operational challenges, became champions of the revitalized system. The reduction in wait times, improved patient experiences, and the strategic overhaul of access centers contributed to a harmonious shift. The collaborative effort not only elevated patient care standards but also fostered a renewed sense of partnership between physicians and administration.
“This success story isn’t just about operational optimization; it’s a narrative of resilience, collaboration, and understanding,” said Marsh. “LYP’s tailored solutions not only addressed the common challenges faced by so many health systems, but also mended the physician-administration relationship, turning what was once a source of contention into a shared triumph in healthcare excellence.”
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