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What Are Medical Practice Management Consultants & Do You Need One?

Posted by 99 MGMT on Jan 14, 2019 1:56:31 PM

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Medical practice management consultants analyze your practice and figure out where you can streamline processes and save money. They may also provide managerial services for your medical practice.

Medical practice management consultants typically analyze the following verticals:

  • Physician credentialing
  • Medical billing
  • Compliance & liability
  • Operations management
  • HR services
  • IT
  • Financial services
  • Marketing

And more as needed.

Why do physician owners work with medical practice management consultants?

Managing a medical practice on your own is time-consuming, and requires that you wear a lot of hats: marketing, troubleshooting technology, billing, and hiring, to name a few.

Consultants have an outside perspective of your practice and how it runs. Because physician owners are in the trenches daily, they typically don’t have the time to review their practice from a bird’s-eye view (nevermind analyze it and implement changes).

Medical practice consultants do all the research and analysis, and provide a list of recommendations to improve operations. If they also offer practice management services, they can help you implement changes straight away.

Do I need medical practice management services as well?

Not every physician owner or practice needs management services. However, you may benefit from practice management if you identify with one or more of the following statements:

  1. I struggle to get billing done on time.
  2. My office technology is outdated or frequently breaks.
  3. I want to reduce legal liability in my practice.
  4. I want to make my practice more modern.
  5. I want to get the word out about my practice.
  6. I want to expand or relocate.
  7. I want to hire more staff and/or physicians, but I don’t have the time to screen new employees.
  8. I want to spend less time doing paperwork.
  9. I want to spend more time with patients.
  10. I want to spend less time at work, period.

How do I choose a medical practice management company?

Not all practice management companies offer the same services. Consider what services are most attractive to you, or where your weak points are. You can identify these on your own, or get a free practice analysis and go from there.

Then look for a company that provides the services you need, has a positive reputation (including references), AND seems like a good cultural fit for your practice. You will be interacting with your practice management company frequently, so it’s important that you work well together.

To get started on streamlining your practice, take advantage of our free practice analysis. We’ll identify areas for improvement and help you choose the best solution for your practice.

free practice analysis with 99mgmt

Topics: Operations, Practice Management, Consulting