MAHWAH, N.J., Oct. 30, 2017-- Performance Solutions, Stryker's healthcare transformation business, today announced the launch of its Practice Excellence™ Program, a new implementation service to help physician practices nationwide specializing in orthopaedics drive profitability, efficiency and quality outcomes.
The Practice Excellence™ Program starts with a comprehensive financial and operational analysis and report of the health of the physician practice to determine areas for improvement. The Performance Solutions team then develops a specialized plan inclusive of three separate value tracks that are prioritized and scalable depending on the organization's greatest need.
•Revenue Cycle Management focuses on improving profitability and key financial performance indicators from denial prevention and revenue recovery to physician documentation coding to payment reform and analytics.
•Practice Redesign drives efficiency through on-site LEAN workflow mapping and optimized patient visit management and resource alignment.
•Ongoing Data Analytics helps practices track, trend and analyze clinical, financial and operational performance to drive informed organizational decision-making and change process strategies for practice sustainability.
"Practice management is increasingly more difficult due to the administrative burden of managing insurers, contracts, government reporting requirements and patient demands," said Richard Conn, MD, Medical Director for Performance Solutions. "Through the Practice Excellence™ Program, physician groups can tap into our team's expertise in practice management, finance, and healthcare policy and reform, among other disciplines, to help sharpen their competitive edge and work toward becoming more profitable.
"Healthcare is increasingly focused on quality and patient satisfaction. Performance Solutions is a trusted partner that has led hospitals, physicians and payers through the challenges of healthcare reform.
"Physician groups are under tremendous pressure to reduce costs and grow their practices," said Brian McCrone, Vice President of Performance Solutions. "We are committed to helping healthcare professionals succeed from every angle. With the addition of the Practice Excellence™ Program to our portfolio, we have an even broader spectrum of data intelligence and customizable solutions to help our customers determine actionable insights that are key to building a strong future in this uncertain healthcare environment.
"For more information about the Practice Excellence™ Program and to sign up for a strategic analysis to guide your own practice transformation, visit www.strykerperformancesolutions.com. This new offering will also be featured at the American Association of Hip and Knee Surgeons (AAHKS) annual meeting (booth #106) in Dallas from November 2-5, 2017.
About Performance Solutions
Stryker's Performance Solutions has offered data analytics and care-redesign implementation services since 2010, partnering with hospitals and physician practices to help improve clinical outcomes, patient satisfaction and profitability. The business expanded its services with the purchase of Marshall | Steele company in 2011 and a year later, with Comprehensive Care Solutions. Since that time, Performance Solutions has developed and grown hospital and operating room efficiency, care coordination, bundled payment and reform expertise and data analytics offerings to provide a comprehensive, integrated solution to fully support all aspects of the Healthcare ValueAgenda™.
Stryker is one of the world's leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. More information is available at www.stryker.com.
This material and/or presentation is provided for guidance and/or illustrative purposes only and should not be construed as a guarantee of future results or a substitution for legal advice and/or medical advice from a healthcare provider. Stryker Performance Solutions does not practice medicine and assumes no responsibility for the administration of patient care.