Your practice deserves the same quality of care as your patients. A well-cared-for practice achieves its maximum level of profitability and runs efficiently with a minimum of problems. We believe physicians should be practicing medicine, not managing the business side of medicine. Our firm has very specialized skills, training and experience to assist you and your staff in better managing your practice in several key areas:
Our Industries
Revenue Enhancement and Cost Controls
One way to maximize profitability is to ensure that practice revenue is at its highest attainable level while keeping costs low. In this area, we have provided practices with the following:
- Collection Policy Evaluation
- Cost Accounting Services
- Fee Analysis
- Payer Mix Analysis
- Overhead Analysis
- Budgeting and Cash Flow Analysis
Office Operations Review
An efficiently run office pays dividends in terms of reduced costs, maximum reimbursement, patient satisfaction and high employee morale. In this area, we can assist with the following:
- Staffing proportions
- Computerization and Software Evaluations
- Internal Accounting Controls
- Record Keeping and Paper Flow
Strategic Planning
As the healthcare industry continues the consolidation trend and changes in reimbursement, an effective strategic plan is critical to the survival and success of a medical practice.
Project Valuations
When buying or selling a practice or adding a partner, a vital step is determining practice value, we can accurately determine the current worth of your practice by objectively evaluating its financial performance, positions in the market and potential for growth.
We provide consultations for:
– Buy-sell agreements
– Deferred compensation agreements
– Employment contracts
– Lease versus buy decisions
– New doctor buy-in arrangements
– Physician compensation models