Practice Management Consulting

What is the physical health of your practice?

Just as physicians work to improve the physical well being of their patients, PMIAssist is devoted to putting your practice back on track for business success. Below is a listing of the types of Practice Management Consulting service we have offered for over 25 years:

Overall Practice Survey:
 

• Purpose: To identify problems in practice efficiencies that may be affecting productivity or causing low reimbursement, while increasing practice overhead.

• Process: After the "Data Needed For A Practice Survey" has been received and analyzed, a visit to the practice is scheduled to review all systems and services. Physicians and key employees are interviewed and practice specific benchmarks are used as a comparison. On the final day the owners receive a verbal summation and within two weeks will receive a detailed written report of findings.

• Goal: To improve ease of practice for everyone while improving net profit.

Accounts Receivable Analysis:
 

• Purpose: To leave no stone unturned. PMIAssist will make sure the practice has all necessary policies, procedures, third party contracts and systems in place to optimize their collection results.

• Process: After practice specific reports have been received and analyzed, telephone interviews are conducted with the accounts receivable manager, other key employees and/or third party services providers. Following is a written summary report of findings with specific recommendations for improvement to the process of billing and collecting. If requested, we can also become your eyes and ears as it pertains to billing, with quarterly reports of practice progress.

• Goal: To turn the doctors hard work into more money in the bank.

Practice Overhead Analysis:
 

• Purpose: To analyze a physician or practice's cost of seeing patients.

• Process: The entire patient encounter process including scheduling, seeing and interacting with the patient is reviewed along with the duties of all related personnel. All staff job descriptions and specific tasks are studied for their relevance and efficiency. The question "why?" is applied to the entire practice management process, often followed with "and then what?" Productivity figures are reviewed along with staffing levels and then compared to specialty specific national averages. Reports of findings along with specific recommendations for overhead reduction are provided in writing.

• Goal: To leave behind improved efficiencies and lower overhead.