Medical Practice Management Page

There is such a wide range of services we offer that it is almost easier to list the few disciplines The 80/20 Group does not practice – medicine and law. The 80/20 Group can deliver either directly or indirectly through a strong supporting cast of quality professionals along with most everything else a medical practice might need in terms of practice management, consulting, and services.

Often times, customers call upon us to evaluate collections, specifically, aged receivables.  Once receivables are under control, the practitioner is comfortable engaging The 80/20 Group for other projects.

If we use an examination analogy, the concept of what we do and how we do it will become obvious.  In this scenario, the practice is the patient and The 80/20 Group is the physician.

The patient’s Chief Complaint is an acute pain in the bank account. Upon further examination, it is discovered that there is a clot, severely retarding cash flow. And of course, a plethora of other maladies are exhibiting as a result.

Just as in a thorough office exam, we understand that pain is a symptom, and not always the problem.  Without looking at vital signs, a Review of Systems, understanding the history, we would not dare recommend a Tx Plan.

In our world, the terms Assessment, Plan, Implement and Monitor used to describe the actions taken to relieve pain.

Following is a wide-ranging list of the areas The 80/20 Group feels comfortable treating:

Business Development

• Budget development
• Development of documents for financial institutions
• Credentialing
• Market planning
• Space planning and design
• Analysis of various vendor offerings
• Staffing Analysis and Planning
• Development of employee benefits packages
• Purchasing
• Equipment/Asset evaluation
• Development of physician compensation
• General office administration/management
• Personnel management (hiring, etc.)
• Employee leasing (case by case basis)

Revenue Management

• Billing and coding
• Electronic billing (unless otherwise specified by carrier)
• Coding by certified coders (subcontracted)
• Secondary insurance billed within two business days of receipt of EOB
• Denials addressed on a daily basis
• Detailed A/R aging provided weekly and/or monthly or as requested
• Collection analysis
• Reimbursement analysis
• Account handled by a designated billing specialist upon approval of practitioner
• Tracking of insurance trends
• Payment posting on daily basis
• Coordination of collection efforts
• Monthly reports
• Accounts receivable status
• Cash receipts
• Insurance receipts by payer
• Monthly contractual adjustments
• Recommendations regarding collection accounts
• Telephone availability Monday through Friday, 8:00 a.m. to 5:00 p.m.

Consulting Services

• Evaluation of reimbursement rates
• Analysis of revenue
• Evaluation of fee for service schedules versus capitation schedules
• Productivity analysis
• Negotiation services and recommendations

General Office Administration

• Development of policies and procedures
• Employee benefit design and analysis
• Development of compensation packages
• Employee Leasing (case by case basis)
• Contract negotiation and analysis
• General personnel management
• Training programs