Healthcare Management and Operational Consulting

Dramatic changes in today's healthcare environment have resulted in unprecedented challenges facing today's physicians and practice administrators. Whether coping with outside factors or internal issues, successful medical executives understand the importance of building an effective management team to meet today's diverse array of challenges.

Many of Upstate New York's most successful medical groups have partnered with the consultants of BST to turn those challenges into opportunities for additional growth and success.

With decades of experience in 'hands-on' medical practice operations and financial management, the team of experts at Healthcare Business Advisors will provide innovative, practical solutions that are tailored to meet your practice's specific needs. Our goal is to develop a partnership built on mutual respect - one that will provide measurable value and last over time.

Strategic Planning
Financial Performance Review
Receivables, Collections and Claims Management Consulting
Managed Care and Third-party Payer Contract Review/Negotiations
Overall Operational Assessment
Merger/Acquisition Consulting
Human Resource Development
Facilities Planning
Regulatory Compliance Review
Physician Compensation Plan Design and Implementation
Financing Negotiations

Strategic Planning

Our team of specialists will work with you to create proactive approaches to:

• Establishing long-term financial goals
• Maximizing revenues in an increasingly hostile reimbursement environment
• Formulating short and long-term organizational structure
• Determining if your group is the right size
• Succession planning
• Merger planning

Return to Top

Financial Performance Review

Our decades of experience will bring you value in the areas of:

• Reporting financial performance information
• Budget development
• Specialty-specific benchmarking
  - Staffing
  - Other expenses
  
• Managing costs
• Managing cash flow

Return to Top

Receivables, Collections and Claims Management Consulting

We have assisted medical groups in the use of successful techniques in managing receivables, claims, and collections, including:

• Billing process review
• Coding and documentation review
• Analysis of collection performance
• Denied claims review
• Analysis of key accounts receivable ratios
• Fee schedule review

Return to Top

Managed Care and Third-party PayerContract Review/Negotiations

Our experienced team can assist your practice in understanding the essential provisions of managed care contracts, and in developing effective approaches to negotiating. Some of our services include:

• Payer mix analysis
• RVU analysis by payer
• Review of contract terms
• Review of capitation contracts
• Assistance and/or facilitation in contract negotiations

Return to Top

Overall Operational Assessment

We have experience and can assist you in such areas as:

• Efficient appointment scheduling
• Medical information management
• Managing workflow
• Determining staffing levels
• Conducting patient satisfaction surveys
• Development of job descriptions
• Managed care contract review/negotiation

Return to Top

Merger/ Acquisition Consulting

We have assisted medical groups in successful mergers and acquisitions in such matters as:

• Compatible practice search and evaluation
• Merger structure development (economics/tax)
• Facilitate merger implementation

Return to Top

Human Resource Development

We can provide assistance in helping you manage your most important asset - your Partners. We have extensive experience in:

• Establishment of right levels/numbers of support staff
• Skills assessment
• Creation of job descriptions, reporting lines
• Recruitment
• Orientation
• Training
• Leadership development
• Development of personnel policy manuals and handbooks

Return to Top

Facilities Planning

When mergers, acquisitions or other factors lead to new or expanded facilities, we can assist. Some of the areas where we have helped medical groups are:

• Site selection
• Space design
• Relocation planning and coordination
• Assessment and selection of equipment and furnishings

Return to Top

Regulatory Compliance Review

The pressures of maintaining regulatory compliance have never been more intense. Whether it be OSHA, HIPAA, ERISA, CLIA, or Billing and Reimbursement matters, our credentials in these highly technical and complex areas are impressive and we invite your inquiries. Here are some of the ways we can help your practice:

• Baseline risk assessment, specific to your practice specialties
• Development of billing and reimbursement policies and procedures
• Creation of compliance plan documents
• Chart reviews for coding and documentation
• Training of physicians and staff on compliance program, coding and documentation
• Serving as your practice's compliance "hotline"
• Assistance with internal investigations

Return to Top

Physician Compensation Plan Design and Implementation

We have worked with scores of medical practices in the Northeast, from sole proprietors to some of the largest groups in the area. Each practice has its own unique set of circumstances to be evaluated when formulating an appropriate and fair compensation program. Here are some areas where we have helped our clients:

• Review and assessment of current compensation arrangement
• Individual provider interviews to determine personal goals/concerns
• Review of accuracy of current productivity reports
• Assessment of current individual provider salary, benefit and discretionary expenses
• Presentation of model compensation formulas, with examples based on actual prior year production
• Implementation of new compensation arrangements

Return to Top

Financing Negotiations

We have helped medical groups negotiate attractive financing terms with lenders in such matters as:

• Building purchase or refinancing
• Facilities renovations
• Equipment financing
• Line of credit
• Limiting personal guaranty exposure

Return to Top