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Connecticut Children's Medical Center Faculty Practice Plan
Situation:
A newly-built hospital, Connecticut Children's Medical Center (CCMC) faced the challenge of merging the medical staffs from two community hospitals, a university system and several private practices. As the building took shape, so, too, did the pediatric group, merging cultures and organizations, and settling differences, to create a faculty practice plan that allowed for the delivery of clinical care while safeguarding research and teaching commitment.
While staff cleared major hurdles to open a new facility, they fell short in the area of infrastructure - a carefully thought-out system of process protocols to cost-efficiently manage the day-to-day business of what soon amounted to some 65,000 patient visits a year. After the first six months, the faculty practice plan was facing projected annual losses of $7 million. Under siege and hemorrhaging badly, the new group had little choice: take quick and drastic action, or risk going out of business altogether.
The Croes•Oliva Group Contribution:
Committed to the mission of a children's hospital, and determined to succeed, highly motivated physicians and staff, in partnership with The Croes•Oliva Group, rolled up their collective sleeves and set about erasing the deficit and putting the practice on solid ground.
The Croes•Oliva Group and faculty practice plan physicians and administrator have:
- Turned a projected $7 million loss into a $4 million surplus reserve.
- Benchmarked and achieved performance comparable to that of an efficient private practice and developed reports to monitor progress.
- Maximized physician capacity and boosted provider productivity, preventing unnecessary recruitment while increasing visits and patient access.
- Built operational systems - including scheduling, patient flow, and referral management - to increase patient access by 20% and collections by 40%.
"Thanks to The Croes•Oliva Group, we accomplished what many faculty practice plans find elusive, if not downright impossible: to operate cost-effectively while still respecting the delivery of quality care, and to hold sacrosanct research and teaching time. We learned that generating clinical revenue is the surest way to protect research and teaching time."
Jeff Hyams, M.D., Chairman
Connecticut Children's Medical Center - Faculty Practice Plan
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