LEVIN BUSINESS SOLUTIONS
NEW PRACTICE START-UP
Our staff has decades of experience in the medical industry. From the start of Medicare and fee schedules, through the HMO takeover, the PPO and silent PPO boom, the ACA development and Medicaid expansion, Concierge Practice, and industry consolidations. There is nothing we have not seen, no obstacle we have not overcome for our clients.
It is this expertise that allows our staff to guide you with confidence through the start up of your new practice.
Developing a Business Plan
Every physician we work with has told us the same thing, "Nobody taught us about running a practice in medical school." So many physicians learn about the business side of medicine from colleagues or through trial and error after venturing out on their own. Just like you devise a plan for a patient - control their hypertension, lower their LDL and A1C, reduce their cardiac risk factors - a business plan is a great tool to guide you in opening and running a practice. It can help you set goals and keep you on track. But a good business plan must be flexible to allow for changes and growth. Our staff can help you identify what you want out of your practice, how to achieve those goals, and put it in writing in your practice's chart.
Staffing
Competent staff is vital to the success of any practice. They can help bring in patients, retain patients, and even reduce the risk of malpractice. Conversely, poorly trained staff can spell disaster for a practice. Your front desk and support staff must be trained to do their jobs effectively, gathering all necessary patient information for clinical needs and billing. That also entails finding staff who fit well into the practice, follow policies, and put forward their best efforts for the success of the practice. Our team can help train your staff and/or help you find the right people for you.
Patient Flow and Satisfaction
Modern medicine is more than just a clinical vocation. Practices need to not only be good at diagnosing and treating patients, but must also treat patients well. The one main thing our team hears in feedback from patients is the patients 'like the doctor but hate the staff.' This is often accompanies by the patients telling us they 'left the practice because of the staff.' Don't let your practice fall victim to patient dissatisfaction. We can help your practice reduce the risk of this by working with your staff to ensure the patients are seen on time or told about any delays, not kept waiting on hold or never called back, informed about coverage issues, and scheduled properly. We will also work with physicians to better understand patient expectations and the best ways to meet them.
Office Policies
A well written policy on "No Shows" that everyone understands can reduce the number of "No Shows" and lost revenue they cause by wide margins. Similarly, written HIPAA polices can help a practice avoid a possibly financially devastating HIPAA Breach penalty of $50,000-$250,000 per instance. Whether they are internal policies regarding HIPAA, dress code, or room cleanliness, or they are financial policies for patients, every practice must have office policies in place. Office policies put everyone on the same page and also reduce the burden of practice management. We have vast experience in reviewing existing policies, drafting new ones, and helping to implement them for practices.
Accept Insurance, Cash Model, Hybrid?
When starting a practice you are going to be faced with the choice of practice model. Should you join insurance networks, only accept cash, or some hybrid of the two. This depends on a lot of factors and each have their pros and cons. Knowing what those are will help you chose the right path for your practice. After all, this is where your income will be coming from. Choosing wisely will lead to success, choosing poorly may lead to failure. Our team has decades of practical experience in this arena. We have clients in all categories. Let us help you chose your path to success.
Just for YOU
You are different than your colleagues. Your practice is different. Your goals are different. What might be right for them, might not be right for you. You may want to build a large clinic or a boutique practice, have multiple locations or only provide telemedicine. We encourage physicians to be open and honest with our staff about what you want so we can come up with custom solutions to meet our needs. Please do not hesitate to contact us, we are here to help you.