Homework: Group Practice Operations Plan
Overview
According to the text, a significant amount of revenue that the health care industry generates can be linked directly to the care that physicians provide for their patients. In addition, physicians in a medical practice add to this revenue stream by admitting patients to a hospital, prescribing prescription medication, ordering home health services and medical equipment, and referring their patients to other health care providers for care and treatment.
Scenario
This is Part 3 in the development of the operations plan to guide you in managing the practice and leading the staff.
Task
Develop Part 3 of your operations plan. It should be 3 to 4 pages and include at least two?quality academic resources in which you:
A. Explain what you need to know about accounting and budgeting as a practice leader.
B. Compare the two levels of financial benchmarking (i.e., internal comparison and external comparison), and explain the strategic purpose and importance of benchmarking as a financial tool for a medical practice.
C. Explain the role telehealth and telemedicine services have in medical group practices and how they affect patient care safety and quality. Support your response.
D. Recommend a health information technology (HIT) system that includes an electronic health record (EHR) for the new practice to implement, and include three main benefits of having the HIT system.
E. Propose a strategy to mitigate the impact of a specific hazardous risk associated with one of the risk categories; property (general liability and safety), technology, or financial practices could have on the practice. Support your proposal with a real-life example.
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.
The specific course learning outcomes?associated with this homework are:
A. Examine the accounting, finance, and budgeting roles in the management of a physician's group practice.
B. Create an operations plan for a physician group practice that promotes medical excellence, and includes organizational forms, organizational goals, HRM, marketing, health information technology, accounting and finance, disaster preparedness, laws, regulations, and compliance.