MGMA Ask An Advisor: Optimizing Network Utilization Through KPI Tracking

In this episode of the MGMA Ask an Advisor Podcast, hosts Daniel Williams and Christy Good dive into the importance of network utilization KPIs and how they can be leveraged to enhance patient satisfaction and operational efficiency. They discuss the critical metrics to track, the benefits of monitoring network utilization, and strategies for implementing cost-effective solutions, even for smaller practices. Key Points:Understanding Network Utilization KPIs: Appointment wait times, referral patterns, resource allocation, and care coordination are key metrics that directly impact patient satisfaction.Identifying the Right Metrics: Practices should focus on KPIs that directly influence patient experience, such as appointment availability, referral completion rates, and post-discharge follow-ups.Benefits of Monitoring Network Utilization: Tracking appointment availability and wait times can improve access to care, while monitoring referral patterns and care transitions can enhance care coordination and reduce fragmented care.Using Data to Personalize Care Plans: Analyzing patient utilization history and treatment outcomes can inform more tailored care plans, leading to improved satisfaction and reduced complications.Strategies to Reduce Hospital Readmissions: Timely follow-up appointments and additional post-discharge support for high-risk patients can significantly lower readmission rates.Challenges and Solutions: Lack of integration between systems and concerns about data security and patient privacy are common challenges, but can be addressed through robust encryption, access controls, and leveraging MGMA's benchmark tools and resources. Resources:MGMA DataDive: A comprehensive benchmarking tool that provides detailed metrics on network utilization, enabling practices to compare their performance against industry standards. Ask an Advisor: For personalized guidance, practices can reach out via email at advisor@mgma.com to connect with MGMA experts. CareCredit Are your patients concerned about out-of-pocket costs? Is your practice looking for a way to help address those concerns and improve the patient experience? Then, you may want to consider offering the CareCredit credit card as a payment option. For over thirty-five years, CareCredit, a Synchrony solution, has been offering patients a way to pay for health and wellness expenses not covered by insurance. CareCredit can seamlessly integrate with your business and offer a valuable financing option for your patients so they can pay for services or products over time to help fit their budget. To learn more about how CareCredit works for you and your patients, visit  www.carecredit.com/mgmapodcast. NextGen Looking to transform your healthcare practice with AI? NextGen Healthcare is leading the way by leveraging artificial intelligence. It is helping practices improve efficiency, streamline workflows, and enhance patient outcomes. From predictive analytics to automating routine tasks, NextGen Healthcare's AI solutions are revolutionizing the delivery of care. Don't miss out on the future of healthcare innovation. Visit https://www.nextgen.com/ today to learn how NextGen Healthcare can help you drive efficiency and elevate patient care.