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Variables affecting the financial viability of your practice: a case study.

J Binderman1

  • 1jeb41@cornell.edu

The Journal of Medical Practice Management : MPM
|October 30, 2001
PubMed
Summary

This study examines factors impacting practice financial viability, such as capacity, payment models (capitation and fee-for-service), and patient visit rates. Financial worksheets are provided to help practices improve their bottom line.

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Area of Science:

  • Healthcare Management
  • Health Economics
  • Practice Administration

Background:

  • Understanding the financial viability of healthcare practices is crucial for sustainable operations.
  • Various factors, including operational capacity and revenue streams, influence a practice's financial health.

Purpose of the Study:

  • To analyze the impact of key variables on practice financial viability.
  • To present a adaptable case study model for financial assessment.

Main Methods:

  • A case study approach was employed to evaluate financial performance.
  • Analysis focused on variables such as practice capacity, capitation rates, fee-for-service revenue, patient visit frequency, and patient churn.

Main Results:

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  • The case study demonstrated the significant influence of practice capacity, capitation percentage, and fee-for-service models on financial outcomes.
  • Patient visit rates and patient churning were identified as critical factors affecting the practice's bottom line.

    • Conclusions:

    • Financial viability in healthcare practices is multifactorial, requiring careful management of operational and revenue-generating elements.
    • The presented case study model and worksheets offer practical tools for practices seeking to enhance their financial performance.