Practice Management Services
Best described as an assessment of specific (key) areas of practice operations, this is intended to compare and contract the practice to others of similar specialty and size. The assessment process includes time spent on-site at the practice, various analyses, and oral presentation of conclusions and a written report.
Best described as the process for providing or facilitating all necessary steps to develop a new practice, whether the physician is new to practice or is simply transitioning from one practice to another. Facilitating entity formation, applying for the tax identification number, preparing financial projections, interviewing prospective staff, and credentialing with third party payers are just a few of the start-up or transition considerations.
An often overlooked process, the credentialing process is key to generating timely cash flow which often has a negative impact on cash flow, but key to several practice situations if the process for which third party payer provider numbers are procured. Payers’ processes vary. Therefore, knowledge and follow up play key roles in this process.
For those third party payer agreements plans not reviewed by IPAs or other third party organizations practices routinely do not perform adequate due diligence and analysis to reasonably determine which agreements to accept. We apply a cariety of tools tailored to the individual practice.
Often practices desire to know what impact new services (or products) will have on the existing business. This applies even when practices plan to add additional providers (e.g., Physicians, Physical Extenders, etc.).
Regardless of one’s intuition the first step in developing a new practice or a new product / service should be the Business Plan. This process provides insight, capital requirements and projected revenue and expenses.
HIPAA compliance, Corporate Compliance, OSHA compliance training and other services are available at a variety of levels.
Seminars and educations sessions are available on a variety of topics. Services are provided to large groups (e.g., specialty associations/societies, hospital staff meetings, etc.) as well as individual practices.
Efficient practice operation requires staff accountability that often gets overlooked throughout the typical workday. This service is customized for each practice. However it may be summarized in stating that accountability begins with practice owners, who must be aware and accepting of each staff member’s area of responsibility and the mechanisms for evaluating performance.