Physician Services
At no time in history has healthcare changed more rapidly and been influenced by market forces. It is crucial that physicians be knowledgeable about strategic, financial and business management. Building alliances with healthcare organizations, third-party payers and others are essential, as is staying alert for operational improvement, revenue growth, and new strategic and joint venture relationships.
Most importantly, physicians must balance the “business of medicine” with an unyielding dedication to quality patient care. At PYA we understand both the pressures and opportunities medical practitioners face. Our 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 innovative approaches that address the operational, strategic and financial needs of a physician practice. We have served solo practitioners to 200-physician, multi-specialty clinics across the United States, so we aren’t limited by size of the practice or location. PYA will assist you in making timely and appropriate business decisions that enable you to focus on what you do best - providing healthcare.
Highlighted Services Offered
- Physician Practice Assessment: Comprehensive or Limited
Focus on operational and financial matters and make specific recommendations for improving practice efficiency and profitability. - Crisis Management
Assist in overcoming 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 agencies. - Interim Management
Provide an interim, on-site manager in a key leadership position during recruitment process.
- Review/Development of Operational Policies and Procedures
Develop policies and procedures or update missing sections of existing policies and procedures and review final document with personnel. - Managed Care Contract Evaluation
Analyze financial impact of contract fees offered by a managed care organization; provide feedback on contract terms; however feedback not offered as a legal opinion. - Physician Compensation/Income Division Plan
Develop physician compensation models that align incentives of practitioners and the parent organization. - Regulatory Compliance Program Development
Facilitate development of a compliance plan that 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
Provide key financial and productivity indicators that are tracked on monthly and quarterly basis and that report to applicable personnel, including physicians, management and owners. - Practice Management Systems
Assist in selection and implementation of the appropriate system that includes Information Systems Management aspects as well as operational changes related to the new system. - Strategic Planning Services
Develop 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
Help with 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