START UP PRACTICES

Set the timetable, choose a location, perform a feasibility study, project the future profitability of the practice, obtain office space, negotiate the lease, design the office, prepare the loan application and business plan, obtain the loan, choose billing and filing systems, medical and office furniture and equipment, select forms and stationery, interview and hire the office staff, write and implement the procedure manual, and plan the practice promotion.

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JOINING OR BUYING A PRACTICE

Find a practice to buy or join. Evaluate the practice's financial statements, policies, efficiency and profitability. Function as an advocate structuring and negotiating the contract to respect her client's needs regarding salary, coverage, and future buy-in options.

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Analysis of the physical plant, the equipment, the personnel, the patient base, the demographics of the medical and general community, and the last three years' income stream and expenses. Work with the physician, an attorney and a CPA to establish a sale price, negotiate the sale, write the Letter of Intent to Purchase the practice. Integrate the buyer into the practice by planning the introduction of the new owner to the patient and referral base.

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ABBREVIATED EVALUATION OF A PRACTICE FOR SALE

An abbreviated evaluation includes analyzing the physical plant, equipment, last three years' income, expense and referral streams.

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FIVE YEAR PLAN

Three day retreat to discuss financial aspects of the practice, future growth, office space, additional physicians, partnership, succession, buy-in and buy-out, financial and professional goals.

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EXAMINATION OF ESTABLISHED PRACTICES

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CHECK UP OF ESTABLISHED PRACTICES

A diagnostic checklist provides a review of all basic office systems. Identify problem areas. Determine how you monitor your practice. Can be done offsite by phone and after hours.

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INTERMEDIATE EXAMINATION OF ESTABLISHED PRACTICES

Onsite review of all basic office systems with physician(s) and staff. Identify problem areas.

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COMPLETE EXAMINATION OF ESTABLISHED PRACTICES

Entails an aggregate of four days' observation of the office, an entrance and exit conference with the entire staff, private interviews with each member of the staff, assessment of every office system (telephone, appointing, billing, collecting, payables, inventory), patient flow, managed care contracts and practice building. Determine how you monitor your practice. Discuss future goals for the practice such as expansion, contraction, adding a physician, sharing space, satellite office. Results in a written report including job descriptions for the staff.

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ONGOING PRACTICE MANAGEMENT

For continuity of care, offsite access to review progress; assess billing and collections, monitor profit, streamline office procedures, monitor efficiency, discuss changes, keep practice on course.

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ON CALL PRACTICE MANAGEMENT

For continuity of care, offsite access to discuss office problems and determine solutions.