Physician Practice Turnaround

Faced with declining revenues and rising operating costs, many practices, both independent and hospital owned, struggle to keep pace. An operating assessment and detailed performance improvement plan provide a comprehensive start for improving practice operations. Our consultants also excel at helping to implement the plan.

Areas of focus include:

• Front office operations
• Review of billing, collections, and A/R management functions
• Clinical back office operations
• Analysis of the fee schedule
• Employee salary and incentive bonus programs
• Physician compensation programs
• Managed care contracts

Healthcare Strategy Group focuses on improving operational performance through the review of past financial performance, conducting an intensive site review, comparison to national benchmarks of performance and productivity, review of the physician compensation program, and a focus on key operational issues.

The result of an operating assessment and performance improvement plan is a strategic operating plan with an operating budget and detailed action plans. Our approach fosters trust, the sharing of critical information, and the development of realistic goals, while ensuring that the physicians become integrally involved in improving overall performance.

For more information, please contact John Hill, Partner, (502) 814-1185 and jhill@healthcarestrategygroup.com or contact us directly through our website.