FTE Model 101 Balancing Resource Capacity And Demand

1. FTE Model 101: Balancing Resource Capacity And Demand HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ INFO@247MEDICALBILLINGSERVICES.COM

2. 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 andgenerate 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. Let’s have a deep dive into how to maintain such a balance between resource capacity and demand: HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ INFO@247MEDICALBILLINGSERVICES.COM

3. 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 inhours, FTE, person days, and so on. Also Read: Full-Time Equivalent (FTE) Model FTE Model 101: Balancing Resource Capacity And Demand HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ INFO@247MEDICALBILLINGSERVICES.COM

4. Let’s begin with Calculations! Some factors to consider when measuring people’s 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 hospital’s 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 Let’s begin with Calculations! HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ INFO@247MEDICALBILLINGSERVICES.COM

5. 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 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. Why is balancing important? HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ INFO@247MEDICALBILLINGSERVICES.COM

6. 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. About Us HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ INFO@247MEDICALBILLINGSERVICES.COM

7. Media Contact: 24/7 Medical Billing 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: info@247medicalbillingservices.com Contact Us INFO@247MEDICALBILLINGSERVICES.COM HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/