Current and revised 24 month forecasted financial statements will be created for the practice. The current version will reflect the practice as it is today looking forward for the next 24 months. The revised version will incorporate recommended changes to the practice illustrating the financial improvement. The revised expense portion of the income statement becomes the budget
Current financing, if any, will be evaluated to determine suitability and competitiveness. New financing, when appropriate, will be designed and negotiated with lenders.
For new practices, alternative ways to structure business will be evaluated and implemented with advisors. For existing practices, current structure will be evaluated versus alternatives.
When applicable, the purchase and/or sale of a practice will be evaluated and the implementation will be coordinated with all other appropriate advisors.
Alternative methods of adding partners will be reviewed and appropriate track will be implemented.
Current fee schedule will be analyzed and changes to specific CPT codes will be recommended. Methodology used is a RVU multiplier.
Analysis of third party reimbursement by different payer classes, i.e., Medicare, Medicaid, Blue Cross, PPO, HMO, etc.
Analysis of third party reimbursement by each physician.
The use of mid-level providers (Physician Assistant, Nurse Practitioner) will be evaluated.
Accounts Receivable will be analyzed and alternatives to improve collections will be reviewed.
Evaluation of current billing system versus alternative inside billing systems or outside billing companies.
Monthly review of charges, collections, accounts receivable, broken down by payer class, provider, CPT Code.
An expense budget will be created from the original Pro Forma.
A review of actual versus budgeted expenses will be performed monthly.
Alternative compensation models for the physicians and other providers will be designed.
In addition to current compensation models, alternatives for deferred compensation will be evaluated.