Medical Practice Profit Drivers

Description

The class will “follow the money” through a typical patient visit, and you will learn:

  • Key performance indicators that can help you generate more profit and cash flow
  • Medical Benchmarking Data to compare your practice’s performance to other Georgia-based practices within your specialty
  • Measuring techniques that filter out confusing seasonal variations so you can readily identify positive and negative trends
  • Management and compensation strategies to reward employees for meeting specific data-driven goals.
  • Learn how to build a practice performance dashboard that will give you a daily one-page view of all the critical factors impacting your practice’s cash-flow and profit.

COST: $49.00
HOURS: 3

Program Outline

  • Catered Lunch
  • Introduction to the University of Georgia SBDC
  • Why is it so difficult to answer simple questions in medical practices?
  • What is revenue in a medical practice and what drives it?
  • How do we decide what is important to track and measure?
  • Organizing practice data into a useful dashboard
  • Interpreting dashboard data
  • Using a dashboard to manage personnel

Who Should Attend?

The class “follows the money” of a patient visit from the time he/she walks in the door, until the time the insurance company pays the claim. Therefore, this class is most suited towards medical providers that bill insurance. The “best fit” attendee would be owner/physicians, office managers, or other staff involved in the financial management of an independent medical practice.

Other medical providers that do not bill insurance would benefit from the group discussion, but most of the financial aspects will not apply.

Instructor

MATT LASTINGER, Medical Management Specialist
Phone: 706-542-8322
Email: mlastinger@georgiasbdc.org

Mr. Lastinger works in the University of Georgia Small Business Development Center’s Medical Practice Management Program leading its medical consulting and education activities. He consults with numerous practices around the state each year on topics such as finance and accounting, marketing, leadership, and practice startup. “Business of Medicine” education is also a large part of Mr. Lastinger’s duties. Classes covering entrepreneurial topics are offered at SBDC offices around the state targeting independent medical practice owners and managers. Additionally, the SBDC works with residency programs around Georgia to train the next generation of medical providers in entrepreneurship. Mr. Lastinger’s, and the SBDC’s goal is to help medical practices in the State of Georgia maintain their independence.

Mr. Lastinger also consults with independent pharmacies in Georgia and serves as a preceptor for the University of Georgia College of Pharmacy’s Entrepreneurship Rotation. Additionally, he assists in MP2’s veterinary student education efforts.  Mr. Lastinger began his career working with Deere and Company in sales and operations management. Mr. Lastinger holds an MBA degree in Finance from the University of Georgia.

 

About UGA Small Business Development Center’s MP2:

The Medical Practice Management Program (MP2) at the University of Georgia Small Business Development Center provides specialized one-on-one consulting at no cost for medical practices, veterinary practices and independent pharmacies. In addition, it offers continuing education programs to medical professionals and teaches business topics to medical students and residents in Georgia.

Register

No upcoming courses are on the horizon

Click the button below to add your name to the waiting list. As soon as this course comes available again, you will be contacted by your location UGA SBDC office.

Waiting List