Monitoring tools

Week 3 DiscussionLake County Medical Practice is a large physician practice in Tallahassee, Florida providing one-stop medical and ancillary services to their patients. Of the approximately 80,000 patients Lake County serves annually, 38% are Medicare beneficiaries. Recently, the Centers for Medicare & Medicaid Services reduced reimbursement rates by approximately 11% for office visits, surgical procedures, and a range of diagnostic and therapeutic services. Based on a projection from the chief financial officer, the new reimbursement rates equate to a $5.8 million reduction in revenue for the medical practice. This comes at a time when Lake County Medical Practice has experienced an increase in new Medicare beneficiaries, as one of the area’s medical practices closed its door after the founder and chief executive officer retired four months ago. Other Medicare beneficiaries have been unsuccessful at finding new primary care physicians, as area physicians are not accepting new Medicare patients. Therefore, Medicare beneficiaries are travelling at least 40 miles to the nearest provider to get medical service.What monitoring tools (e.g., Gantt chart, Balanced Scorecard, Dashboard, etc.) might you use and why? What are two tactical objectives that the organization might leverage to effectively address operations requirements and limit negative consequences?

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