Medical Practice Management Consulting
Our Medical Practice Management Consultants specialize in working with Maryland-based independent physician’s practices, hospital-based-physician groups, Ambulatory Surgical Centers (ASCs) and medical practice accounting services. Our medical practice consulting team possesses a wealth of knowledge best suited to provide practice advisory solutions tailored to improve your long-term operational and financial performance revenue cycle.
Our medical practice consulting areas of specialty include:
- Medical Billing Oversight
- Practice Assessment
- Increasing Practice Revenues
- Streamlining Policies and Procedures
- Patient Experience Improvement
- Selling or Merging Your Practice
- Managed Care Contracting Analysis and Negotiation
- Medical Record Chart Audits, including:
- Provider Documentation
- Coding Analysis and Training
We perform our practice management services in a creative, constructive, efficient, and timely manner and, as a result, patients flowed in, and we have developed close and lasting relationships with our clients.
We are available to improve your bottom line directly and efficiently, and we will not take on a project unless we believe we can increase your cash flow and revenue.
Physicians everywhere are increasing revenues, streamlining procedures, and improving patient care with medical practice management consulting from our advisors. This is just an overview of the healthcare consulting services that we offer.
Get in touch with us today if you would like to discuss your situation to see how we can meet your objectives to develop a healthier practice.
Let us help you increase efficiency, improve patient care and maximize your profits. Contact us today to learn how our healthcare consulting services can benefit your practice.
Practice Operational Assessments
Our assessments can be focused on a specific area or an overall top-to-bottom look at all operations. Our goal is to provide you with valuable information that can be applied to your practice to move you from where you are to where you need to be.
Billing Department Review and Analysis
Our team of billing specialists can help you analyze how to increase your reimbursements, lower accounts receivable days, decrease payor rejections and ensure the most effective processes are in place to maximize your staff’s performance.
Financial Statement Analysis
Obtain the insight you need to understand the ability of your organization to generate profit. Our team’s methodology involves specific techniques for evaluating risks, performance, financial health, and future prospects of an organization.
We offer an interim management program as a practical solution for vacancies, planned or unexpected, to bridge an opening during the executive search process.
The right compensation plan framework is an important component to becoming a high-performing physician organization. It provides a tangible and aligns structure for a winning strategy that benefits patients, providers and payers. Our team can help develop the right plan for organization so you can stay competitive and provide value for all participants.
Overhead costs are unavoidable, and every business will incur them monthly. But they can, however, be managed efficiently and cost-effectively. Let our team help your business reduce overhead costs and become more profitable with our analysis solution.
Internal Controls and Forensic Work
Let our professionals with years of experience and backed by a team of CPAs review current policy and procedures to identify gaps or suggest areas for improvement so your organization can rest assure there is no opportunity for manipulation of financial data.
Practice Purchases, Sales and Mergers
We are not brokers or business valuation specialists. Our practice management consultants possess a wealth of knowledge best suited to provide practice advisory solutions tailored to assess operational and financial performance. Our team goal is to prepare a practice for selling or to support the buying process.
Independent Baseline Medical Record Chart Audits
Your medical practice may think they are doing all the right things when it comes to determining Evaluation and Management (E/M) services and coding, but a professional audit will give you confidence that you are following federal regulations.
We handle your payor credentialing and enrollment to ensure that your staff continuously meets the changing requirements and maintains compliance.
Managed Care Contracting Analysis
Our approach to managed care contracting pairs our expertise in data analysis and strategic planning with our payer relationships to maximize reimbursement.
Strategic Review and Planning
The strategic plan should be a living document that helps drive decision making for leaders and teams. Let our team help yours establish quarterly goals or milestones to keep your practice progressing and growing year after year.
We provide assessments backed by decades of hands-on healthcare management and finance experience.
Our professionals are available for conferences, seminars and small group opportunities to speak on key operational topics and real-time issues impacting the health care community. Contact us today to see if we can support your organization’s educational needs.
Patient Satisfaction Analysis and Survey
Measure & improve customer experience to bring your business to the next level. From improving your digital services and patient communications to designing new ways to access healthcare, work with our consultants to identify the actions that will have the biggest impact on patient satisfaction, loyalty and health outcomes so you know where to focus your improvements.
CAP Inspection Preparedness Services
Our team offers the guidance of a former CAP inspector for organizations with existing labs or ones looking to start providing lab services. The time lost spent remediating deficiencies can be difficult, especially on a small practices. Work with our professional to identify areas where your laboratory’s performance meets standards and where improvement may be necessary.
Frequently Asked Questions
What does a medical practice consultant do?
A medical practice consultant offers a variety of services to help practices improve their operational and financial performance. Our consultants will review your practice operations, analyze your billing activities, evaluate your managed care contracts and provide you with strategic guidance to achieve long-term success. We can also assist in creating policies and procedures for improved patient experience, as well as providing advice on selling or merging a practice. Additionally, we can provide chart audit and coding analysis to ensure accuracy and compliance with regulations. We strive to help physicians increase revenues while providing quality care to their patients.
Why You Need a Medical Management Plan for Your Practice
Having a well-developed and effective medical practice management plan is essential to any physician’s success. A comprehensive practice management plan will include strategies for increasing revenue, streamlining policies and procedures, improving patient experience, managing managed care contracts, optimizing billing processes, and analyzing financial statements.
These strategies are designed to help you optimize your practice performance, generate more revenue and achieve long-term success. Our practice management consultants have the experience, expertise and industry knowledge to provide you with tailored solutions designed for your specific needs. With our help, you can ensure that your practice runs as efficiently and effectively as possible.
How a Medical Management Plan Can Drive Your Growth Initiative for your Practice
A medical practice management plan can be instrumental in helping you reach your growth goals and objectives. Our consultants will work closely with you to develop a comprehensive strategy that encompasses all aspects of practice operations, from billing processes to managed care contracts. Additionally, our team will provide valuable advice on setting up internal controls, conducting financial statement review, optimizing coding accuracy and conducting patient surveys. Our practice management solutions are tailored to your specific needs, so you can rest assured that we will craft a strategy that is designed to drive your growth initiatives.
How Can a Consultant Help Your Medical Practice Management?
At our firm, we specialize in providing a wide range of healthcare consulting services designed to help physicians optimize practice performance. Our consultants provide valuable insight and advice on billing, coding processes, payor credentialing and contract analysis. We strive to create tailored solutions for each client that will improve operational efficiency and maximize profits. Our team also provides litigation support services, process improvement plans and chart audit support. Contact us today if you would like to discuss your situation to see how we can meet your objectives to develop a healthier practice.
Does BlueStone Provide Medical Practice Management Consulting to Companies Near Me?
Yes, BlueStone is dedicated to providing medical practice management consulting to companies near you. With our conveniently located office in Columbia, MD, we are well-positioned to serve businesses in the surrounding areas. You can rely on BlueStone’s expertise and commitment to deliver outstanding medical practice management consulting near you. We serve cities such as:
- Frederick, MD
- Mt. Airy, MD
- Rockville, MD
- Gaithersburg, MD
- Takoma Park, MD
- Barnesville, MD
- Brookeville, MD
- Chevy Chase, MD
- Friendship Heights, MD
- Garrett Park, MD
- Glen Echo, MD
- Kensington, MD
- Laytonsville, MD
- Poolesville, MD
- Somerset, MD
- Washington Grove, MD