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Our practice management consultants work with you to identify opportunities to control costs, protect income, preserve your patient base and increase physician productivity. Established in 1984, MDmanagement brings 30+ years of experience – along with a comprehensive range of services – to help providers become productive as quickly and inexpensively as possible.
Physician practices require sound management oversight and accountability of staff to operations. MDmanagement provides multiple levels of on-site Practice Management Oversight based on each practice’s unique needs.
Personnel costs can represent the practice’s single highest expense and the greatest factor for practice management success. We review current management and reporting operations, perform task analyses to gauge workflow, division of responsibility and then match tasks to staffing requirements. We can develop personnel policies, educational programs, task-oriented position descriptions, evaluations and establish salary and productivity ranges.
Lack of documented policies and procedures linked to staff responsibility and accountability forces staff to ‘rule by exception,’ creating data quality and compliance headaches. To strengthen operations and compliance, we review, develop and refine financial and operational policies and procedures, and establish measures to monitor operational performance.
Revenue cycle issues are problems for most medical practices at one time or another. Changing contracts and reimbursement rules, or new providers, services, staff, and management – all impact a practice’s revenue cycle.
Everyone has heard the horror stories – the front desk staff employee who uses the same insurance to register every patient, the billing staff member who is stealing co-payments, the insurance contract that was negotiated incorrectly and now the reimbursement for one of the practice’s most utilized service has been significantly reduced, the billing person who writes off money that can still be collected, and the clearing house that never gets the claims to the insurance carrier for processing.
The revenue cycle starts when a patient is scheduled for an appointment and ends when the service(s) rendered at that appointment is (are) fully paid. Problems occur at almost any point; including, but not limited to – patient registration and insurance verification, billing and coding, payer mix, accounts receivable follow-up, account write-offs and credit balances created from possible payment posting errors. Each phase of the revenue cycle that is left unmonitored is a possible revenue drain for the medical practice.
Our experienced practice management consultants can perform a focused or comprehensive practice assessment to identify opportunities to increase income and physician productivity by focusing on critical elements that impact reimbursement, overhead and billing/collections.
Our staff has expertise in reimbursement (fee schedules, charges, billing), recruitment (professional and executive), utilization review, budgeting, collections, medical records, coding, and other management and operational activities.
1. Development /implementation of employee wage scales
2. Development of employee job descriptions
3. Development of Employee Handbook
4. Employee recruitment & retention activities