Title: FTE Model 101: Balancing Resource Capacity And Demand
1(No Transcript)
2FTE Model 101 Balancing Resource Capacity and
Demand
- Undoubtedly, doctors and nurses are your
hospitals most valuable asset, and so are the
medical billers and coders. With them, you could
bill your services accurately and timely and
generate revenue. However, they are also your
hospitals most expensive cost. If you dont keep
them busy and reap maximum benefits, theyll eat
away at your profits. You need enough medical
billers and coders to capitalize on your
opportunities, but only a few of them to sit on
the bench. The conflict between hiring and firing
is one of the most substantial and unresolved in
running a successful healthcare organization. The
resource capacity vs. demand equation must be
solved to stay profitable and submit claims
timely. The best way is to utilize the full-time
equivalent model, i.e., the FTE model.
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3How to maintain a balance between resource
capacity and demand
- Resource Capacity
- Any employees (medical billers and coders)
capacity is the total number of standard hours an
individual is available to work under the terms
of the agreement. Hours, FTE (Full Time
Equivalent), person days, people, and other units
of resource capacity can be used. - Resource Demand
- The process of calculating the resources needed
to meet the demand for various billing and coding
tasks is known as resource demand. The unit of
demand for resources is measured in hours, FTE,
person days, and so on.
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4The balance between Resource Capacity Demand
- It is the procedure of balancing the effort and
time of the billing team with the requirements of
the services to be billed for getting
reimbursement from the insurance companies. In
other words, it forecasts workforce resource
(medical billers and coders) shortages or
excesses in the short or long term. It is
computed by analyzing the gaps between resource
capacity and resource demand. This difference can
be measured in hours, FTEs, or personal days.
There is a shortage when resource demand exceeds
capacity or supply. Excessive resource demand
exists when the resource demand exceeds the
capacity or supply.
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5Why is balancing important?
- A lack of proper resource planning can erode your
doctors and physicians efforts andeventually
lead to zero or no reimbursements. Here is a
step-by-step breakdown of how it can derail
reimbursements - ? Poor planning will result in overworking and
overscheduling the in-house billers and coders
with conflicting priorities, eventually leading
to exhaustion and burnout.? When in-house team
members are overworked and overscheduled, their
moralesuffers.? With low morale, such team
members cannot give their 100 in billing and
codingwork, leading to an endless rework cycle
on claims submission.? All this will enhance the
time and cost for healthcare organizations, with
a high risk of denials or rejections of claims.
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6About 24/7 Medical Billing Services
24/7 Medical Billing Services is the nations
leading medical billing service provider catering
services to more than 43 specialties across the
entire 50 states. You can rely on us for
end-to-end revenue cycle management. We guarantee
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7Call us Today
Media Contact 24/7 Medical Billing
Services, 28405 Osborn Road, Cleveland, OH,
44140 Tel 1 -888-502-0537 Email
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