With the costs involved in running a specialty practice, do you feel you are capturing all potential revenue from your Advanced Practice Provider (APP) program? And how do you know what to look for?
Your APP should be providing supportive and quality-enhancing services such as smoking cessation counseling, patient education, survivorship care planning and advance care planning. Freeing up time in the physician’s schedule to focus on new patients and highly acute patients may provide you with increased revenues and room for new patient volume. For example, in a practice with 955 patients eligible for a patient education session, the difference in potential revenue generated from an APP leading that session versus a nurse could be more than $117,000 (based on Medicare reimbursement rates).
Practices may also explore implementing new APP services for their patients, including same day sick visits, patient support group sessions and palliative care visits.
Our clinical quality consultants can help you review your practice to maximize the highest potential return on investment. In addition, your practice could improve access to care, as well as decrease the cost of care as you are proactively seeing patients instead of them going for an ER visit or potential hospitalization.