FTE Model 101: Balancing Resource Capacity And Demand

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FTE Model 101 Balancing Resource Capacity And
Demand
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FTE 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
andgenerate 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. Lets have
a deep dive into how to maintain such a balance
between resource capacity and demand
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FTE Model 101 Balancing 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 inhours, FTE, person days, and so
on. Also Read Full-Time Equivalent (FTE) Model
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Lets begin with Calculations!
Lets begin with Calculations! Some factors to
consider when measuring peoples capacity are?
Any full-time or part-time employees who are
available.? Contractors or temporary employees
are available.? Any planned leaves of absence or
contract terminations. The next step is to
compute the resource demand. The resource demand
includes the resources needed to complete the
hospitals various billing tasks (including
coding). Demand is typically measured in terms of
hours, FTE, or personal days. If a full-time
employee works 40hours per week and the billing
requires 56 hours per week, the FTE for the
project is 1.4. Also Read Full-Time Equivalent
(FTE) Model
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Why is balancing important?
A lack of proper resource planning can erode your
doctors and physicians efforts and eventually
lead to zero or no reimbursements. Here is a
step-by-step breakdown of how it canderail
reimbursements? Poor planning will result in
overworking and overscheduling the in-house
billers andcoders 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 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.
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About Us
We are a medical billing company that offers
24/7 Medical Billing Services and support
physicians, hospitals, medical institutions and
group practices with our end to end medical
billing solutions. We help you earn more revenue
with our quick and affordable services. Our
customized Revenue Cycle Management (RCM)
solutions allow physicians to attract additional
revenue and reduce administrative burden or
losses.
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Contact Us
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Services Ohio 28405 Osborn Road, Cleveland, OH
44140 Texas 2028 E Ben White Blvd, 240-1030
Austin TX, 78741 Phone no / Fax 1
888-502-0537 Email us
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