Strategic Physician Business Ramp Up

Strategic Physician Business Ramp Up

Doctivity is Engaged to Expedite the Profitability of Newly Hired Physicians and Solve the Slow Ramp Up of Currently Under Performing Physicians

Overview

The Doctivity platform is an insurance policy for physicians. Our data analytics allow our clients to easily optimize new providers and currently employed, under performing physicians. Doctivity delivers the right business analysis needed to solve the most common and complex challenges all healthcare organizations face. Through our dashboards, clients are able to measure and track economic returns and new revenues. Through Doctivity's individualized provider dashboards, scorecards and reporting, our clients know within minutes what the barriers to performance improvement are and what actions need to be taken to pivot for successful outcomes.

The Challenge

To expedite the profitability of newly hired physicians and solve the slow ramp up of under performing employed physicians.

• New physicians average 24 months to reach a break-even point where they cover their salaries.
• When a physician resigns for being unsatisfied, organization loss on average is $1.4M per physician.
• Physician turnover rates on average are 7% and growing.
• Costs to recruit providers average between $35K to well over $200K per provider.

The Solution

Doctivity engaged with Valley Health System to focus on 15 mission critical under performing employed providers to improve ramp up to productivity goals. Providers were a mix of specialists and primary care.

Doctivity platform was engaged to ramp up and improve provider productivity goals.

Benefits/Goals

Improve the average time it takes providers to break even from the current average time frame of 24 months, ensure productivity trajectory is on track, engage provider relations, and improve new revenue generation.

Who Benefits from Doctivity

• Executive Leadership
• Service Line Leaders
• Operations Management
• Business Strategy and Planning
• Provider Relations & Providers

Doctivity In Action

Once Doctivity analysis was completed, strategic performance improvement and business development plans were created based on individual provider-specific KPIs, case mix analysis, referral outmigration, referral targets, unique new patient numbers, market dynamics, competition analysis and financial reporting.

The Results

Results after nine months:

• 12 out of 15 targeted employed physicians (new and underperforming) achieved individual productivity goals
• Average new physician ramp-up time was decreased by 50%
• Gross revenue tied to unique new patients for the 15 providers resulted in $1.4M in revenue