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FTE Model 101 Balancing Resource Capacity And Demand PDF

Contact the 24/7 Medical Billing Services team to understand and forecast your gap between resource capacity and demand for FTE Model.

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FTE Model 101 Balancing Resource Capacity And Demand PDF

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  1. FTE MODEL 101: BALANCING RESOURCE CAPACITY AND DEMAND UNDOUBTEDLY, DOCTORS AND NURSES ARE YOUR HOSPITAL’S 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 HOSPITAL’S MOST EXPENSIVE COST. IF YOU DON’T KEEP THEM BUSY AND REAP MAXIMUM BENEFITS, THEY’LL 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. https://www.247medicalbillingservices.com info@247medicalbillingservices.com info@247medicalbillingservices.com https://www.247medicalbillingservices.com

  2. How to maintain a balance between resource capacity and demand: • RESOURCE CAPACITY ANY EMPLOYEE’S (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. https://www.247medicalbillingservices.com info@247medicalbillingservices.com

  3. THE 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. https://www.247medicalbillingservices.com info@247medicalbillingservices.com info@247medicalbillingservices.com https://www.247medicalbillingservices.com

  4. Why is balancing important? A LACK OF PROPER RESOURCE PLANNING CAN ERODE YOUR DOCTOR’S AND PHYSICIAN’S EFFORTS AND EVENTUALLY 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 MORALE SUFFERS. ● WITH LOW MORALE, SUCH TEAM MEMBERS CANNOT GIVE THEIR 100% IN BILLING AND CODING WORK, 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. https://www.247medicalbillingservices.com info@247medicalbillingservices.com info@247medicalbillingservices.com https://www.247medicalbillingservices.com

  5. About 24/7 Medical Billing Services 24/7 Medical Billing Services is the nation’s 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 up to 10-20% increase in the revenue with cost reduction of your practice for up to 50%. https://www.247medicalbillingservices.com info@247medicalbillingservices.com

  6. CALL US TODAY : Media Contact – 24/7 Medical Billing Services, 28405 Osborn Road, Cleveland, OH, 44140 Tel: + 1 -888-502-0537 Email: info@247medicalbillingservices.com Website: https://www.247medicalbillingservices.com/ https://www.247medicalbillingservices.com info@247medicalbillingservices.com

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