Practice Assessments
A practice assessment involves an in-depth review of your practice's operations.
- Comprehensive Physical
- Problem-focused
Practice Structure
- Structure and Governance
- Group Formation or Dissolution
- Merger and Acquisition Strategies
New Practice and New Physician Start-up. Are you just getting started?
- Entity selection
- Work in collaboration with practice's corporate counsel to ensure business objectives are in alignment with legal documentation
- Staffing
- Equipment purchase or lease
- Billing
- Information Technology
Business Plan Development and Strategy
What's your "roadmap" for the future?A Business Plan is a key to practice development. Too often, a practice is busy reacting to situations that could have been avoided with some planning. This is an opportunity to have the practice owners discuss individual goals with practice goals for growth, continuation, and future success.
Benchmarking
Benchmarking is a method used to determine certain performance standards. By comparing your benchmarks to best practice standards, you can tell what is working in your practice and identify areas of improvement.
Income Distribution and Physician Compensation
Physician compensation can be the biggest area of contention in a practice.
- Identify current compensation system strengths and weaknesses
- Describe and propose alternative income distribution methodologies
- Facilitate group decision-making for new compensation plan
- Work in collaboration with practice's corporate counsel to document new compensation plan
Contract Review and Negotiations
Are you being reimbursed the contracted amount from third-party payors? Have you attempted to negotiate for better rates with insurance carriers? Does your practice provide ancillary services and receive minimal compensation? If you are like most physicians, you just sign the contract that comes in the mail.
Operational Efficiency
In today's healthcare environment, organizational and operational efficiency are necessary to ensure practice profitability.
