Practice Management

 

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
- Evaluate lease(s) and Facility space design
- Procedure and Policy Development
- 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.

- Management Structure
- Organizational Structure
- Short and Long term planning
- Market Position
- Formulate succession plans
- Set Goals

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.

HealthCore MSO can benchmark the practice in whole, or by the performance of each individual provider.

- Financials
- Staffing
- Productivity
- Patient Volume

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.

HealthCore MSO has a wealth of experience negotiating on behalf of its clients to obtain better than market rates.

Operational Efficiency

In today's healthcare environment, organizational and operational efficiency are necessary to ensure practice profitability.

- Medical & Financial Record Systems Review
- Communications systems
- Business Agreements & Documents Review
- Information Systems Review
- Office Automation
- Appointment Scheduling and Patient Flow Analysis
- Ancillary Services Review

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