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Our team of healthcare consultants has developed specialized expertise in working with all types of healthcare providers. Our approach is different from many other consulting firms. You talk, we listen. We offer easy, comprehensive solutions to taking care of business. We can provide you with strategies, answers, hands-on office support and crucial management reports. Our financial services allow you to concentrate on practicing medicine instead of the hassle factors associated with managing your practice. All our services are geared to make the work flows in your practice more efficient and profitable while decreasing physician time with “hassle factors”. Our team will analyze your practice and work with you to develop and implement strategies for improvement in many areas. Do you know the tools needed to run your practice? Practice Assessments A practice assessment involves an in-depth review of your practice’s operations. Paperwork, telephone calls, medical records and patient contact are analyzed. Billing and coding procedures are reviewed. Collection and write-offs are monitored. Contracts and fee schedules are double-checked. In other words, this is the complete check-up that your practice needs! Benchmarking Don’t think your practice needs a complete check-up? Benchmarking is a method used to determine performance standards for office functions. By benchmarking your practice, you will be better able to monitor staff performance, physician performance, and statistical performance. By comparing your benchmarks to the Medical Group Management Association (MGMA) best practice standards, you can tell what is working in your practice and what isn’t. Income Allocation and Physician Compensation Physician compensation can be the biggest area of contention in a practice. Jones & Roth Healthcare consultants can help you review your current plan and define what changes you would like to make, then we can design a compensation or income allocation plan specifically to meet your needs. No plan will be perfect, but we will help you reach a compromise that is workable for everyone. Business Plan Development A Business Plan is the key for practice development. Too often, a practice is busy reacting to situations that could have been avoided with some planning. A business plan will look at your business objectives for the next one, two and five years. This allows you to address not only professional goals but also your personal, economic, and lifestyle concerns as well. Procedure and Policy Development The development of policies and procedures is another key tool. Everyone needs to know the rules. Developing a source document allows your staff to review policies and make decision with consistent interpretation. Issues can be handled fairly while reducing legal liability and staff turnover. Computer System and Software Evaluation The increasing demands on practices to provide information has created a need for an evaluation of computer systems including practice management and electronic medical records software. The evaluation process outlines what is currently needed as well as what will be needed for future growth. Practices spend a great deal of money on computer systems that become under utilized or systems that can not be supported by vendors. The evaluation process eliminates these concerns. Interim Practice Administration The Jones & Roth Healthcare Team is experienced in hands on practice administration. This experience allows us to step in and keep your practice functioning even during the most turbulent of times. New Practice and New Physician Start-up Are you just getting started? We can help you with everything from entity selection to income allocations. Compliance If your practice is one of the many that thinks it does not have time or that a compliance plan does not apply, think again. The HHS Office of Inspector General suggests that every practice develop a plan for dealing with Standards and Procedures and Claims Submission Auditing. You also must determine a disclosure protocol for voluntarily reporting irregularities. The four risk areas that are applicable to individual and small group physician practices are:
Coding and Documentation Documentation is as important as the care you provide to your patients. Documentation must not only outline what level of services you provide but must support that they were reasonable and necessary services. Increasing your reimbursements may be as easy as refining your documentation skills. Coding is a juggling act involving three components: CPT coding, ICD9 coding, and documentation. They must be combined to show what services were performed and why. Statistics show that the average physician loses $35,000 a year by improper coding. What could you do with the lost revenue? Coding, Documentation and Compliance Auditing By sampling a number of your filed claims, we can determine if you have additional reimbursements due you. This also will determine if your coding or documentation is putting you at risk for allegations of fraud. Errors in coding and documentation carry serious monetary consequences. Claim denials are another area of possible untapped revenue. How often are your denied claims reviewed? Do you challenge the denial? Are the claims being paid per your contractual agreement with the insurance carriers? We can review these areas and show you how to optimize your reimbursements. Contract Review and Negotiations Yes, it is possible to negotiate profitable contracts with insurance carriers. You must first define what profitable means to your practice. Your conversion factor tells you what you need to collect per Relative Value Unit (RVU) in order to cover your costs. We have the tools to simplify this process and will help you negotiate your next contract with confidence. Training The Jones & Roth Healthcare Team is happy to provide customized training in coding, documentation, and compliance. These training sessions are designed to address the needs of your practice. Having a credentialed coding and compliance expert come to your office is both convenient and economical. Jens Andersen heads Jones & Roth’s healthcare team. If you’d like to know more about the entire team and their credentials, please email us at info@jrcpa.com .
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