Physician Services
If today’s physicians are to be successful in an ever-changing healthcare industry heavily influenced by market forces, they must expand their knowledge beyond the medical realm into strategic, financial, and business management. They must build alliances with healthcare organizations, third-party payers and others. Physicians must remain alert for opportunities through operations improvement, revenue growth, and new strategic and joint venture relationships. Never before has the importance of a strong business acumen had more of an impact in defining success for physicians; and most importantly, physicians must focus on all of these “business of medicine” responsibilities while still maintaining their unyielding dedication to quality patient care.
We understand at PYA that today’s medical practitioners face a complicated array of pressures and unique challenges, as well as opportunities. Our broad experience in healthcare enables us to effectively and efficiently manage the delicate balance among physicians, hospitals, and payers with the integrity and fairness necessary to realize success. We offer physicians innovative approaches address the operational, strategic and financial needs of their practice. We are not limited by size of the practice or geographic placement, having served clients ranging from solo practitioners to 200 physician multi-specialty clinics across the United States. PYA's services assist you in making timely and appropriate business decisions enabling you to focus on what you do best - providing healthcare.
Highlighted Services Offered
- Physician Practice Assessment: Comprehensive or Limited
Focuses on both operational and financial issues and makes specific recommendations for improving practice efficiency and profitability. - Crisis Management
Intensive on-site assistance to overcome crisis situations such as waning financial performance, loss of key physicians, staff or management, poorly negotiated managed contracts with major payers, or inquiries by governmental or regulatory authorities. - Interim Management
On-site management in a key leadership position on an interim basis while position is being recruited. - Review/Development of Operational Policies and Procedures
Development of a complete set of policies and procedures or missing sections for existing policies and procedures; includes review of final document with personnel. - Managed Care Contract Evaluation
Evaluation of financial impact of contract fees offered by a managed care organization; provide feedback on contract terms but feedback is not offered as a legal opinion. - Physician Compensation/Income Division Plan
Development of physician compensation models to align incentives of practitioners and the parent organization. - Regulatory Compliance Program Development
Facilitate the development of a compliance plan; includes coding and documentation reviews and assessment of compliance risk. Provide customized extensive education/training on coding, documentation, and billing topics. Assess billing procedures for efficiency and billing compliance. Facilitate development of OSHA and HIPAA compliance program including training. - Development of Internal & External Reporting Systems
Key financial and productivity indicators are tracked on monthly and quarterly basis, with reporting to applicable personnel, including physicians, management and owners. - Practice Management Systems
Assist in selection and implementation of system, including the Information Systems Management aspects as well as operational change related to the new system. - Strategic Planning Services
Development of a strategic plan through evaluation of market/industry trends, competition, supply/demand, existing versus needed capabilities, benchmarking and other analysis, along with financial/operational impact. Facilitate governance and leadership development including planning retreats. IPA, MSO and PHO development. Facilitate negotiations and debt financing related to mergers and acquisitions. - "Turn key" Practice Start-ups/Transitions
Comprehensive practice start-up services to physicians opening new practices or moving existing practices.
Additional Services Offered:
- Structuring Business Entity
- Obtaining Federal Tax Identification Number
- Registering with State Tax Board
- Financial Projections to Obtain Financing from a Lending Institution
- Credentialing
- Developing Employee Benefits Package
- Ordering Equipment, Furniture and Supplies, and Establishing Vendor Relationships
- Stocking of Clinical and Administrative Supplies
- Developing Practice Policies and Procedures
- Creating Fee Schedule and Encounter Form
- Interviewing and Hiring Staff