Stryker's Performance Solution, a healthcare transformation business, launched its Practice Excellence Program to help physician orthopedic practices improve profitability, efficiency and quality outcomes.
Here are five takeaways:
1. After undergoing a comprehensive financial and operational analysis and report, the Practice Excellence Program develops specialized plans to practices inclusive of three separate value tracks: revenue cycle management, practice redesign and ongoing data analytics.
2. The revenue cycle management track focuses on improving profitability and key financial performance indicators while the practice redesign track drives efficiency through workflow mapping and optimized patient visit management.
3. The ongoing data analytics track helps practices analyze clinical, financial and operational performance to improve organization decision making and change process strategies.
4. Stryker designed the program to increase focus on quality and patient satisfaction. The company's Performance Solutions has partnered with hospitals, physicians and payers since 2010.
5. In addition to its Practice Excellence Program, Performance Solutions develops and grows hospital and operating room efficiency, care coordination, bundle payment and reform expertise and data analytics.