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Practice Management
Physicians, dentists, veterinarians and other allied healthcare professionals rely on PMM for practice management advice. We not only offer complete consultation on special problem, we also survey all aspects of your practice to help you recognize potential problem areas. Best of all, our recommendations are supported by more than 60 years experience, so there are few problems we haven't encountered.
PMM management services include visits by a trained consultant. The consultant will work with your employees, answer questions, and provide assistance for office problems. Specific recommendations will then be made in a conference with the practitioner(s), followed by a written report with recommendations after each visit.
Practice Management Services:
- Practice evaluations are a PMM specialty. PMM consultants specialize in the type of advice you won't find in a professional school. We have hands-on experience. PMM will help you choose the best locations for your practice, design your office, purchase equipment, hire employees, establish fee and credit policies, and plan for your practice growth. Practice evaluations also include overhead expense analysis, personnel evaluations, and credit and collection effectiveness, review of current fee schedules, profit distribution formulas, and assessing the efficiency of appointment systems. In addition, we can value a practice for sale or retirement.
- Marketing and public relations is key to a more profitable practice. Physician recruitment, community relationships and patient education recommendations can be made. From your office magazine rack locations, to the way your personnel greet patients, we know the important role public relations plays in your practice.
- Routine and procedures can benefit from the outside evaluations and recommendations offered by PMM. Accounts receivable, collections, insurance forms processing, and record filing all contribute to office efficiency.
- Personnel management includes an assessment of your staffing needs, compensation packages, and policies. PMM evaluates efficiency and use of your office staff as well as your need for additional professionals. We can establish job descriptions, determine regular employee evaluations, help lower employee turnover and improve morale. PMM provides assistance in screening prospective employees or handle terminations.
- Growth problems can be addressed before they occur. Our consultants can analyze your need for physical expansion, evaluate your public relations, and your relationship with referring doctors.
- Office system evaluations can be crucial to your practice. PMM will analyze your current office technology and make recommendations geared to your specific needs.
- Fee analysis includes comparisons on what other professionals charge, and expenses based on your individual practice needs, assistance in the management of office overhead expense, and profit and loss statements. In addition, we'll establish a written fee schedule, offer advice about increasing fees, evaluate rising costs, review fees relating to CPT codes, help your staff explain fees properly to patients and provide information on local and national trends.
- A carefully planned credit and collection program is essential to any successful practice. PMM will establish an accounts receivable control, maintain effective internal controls and reasonable billing cost, train your staff for proper billing procedures, administer effective delinquent account follow-up, and help ensure productive insurance claim processing.
- Business taxes and insurance can also be reviewed to determine adequacy and cost. Comprehensive insurance evaluations can determine the best type of insurance for your practice and coordinate the coverage with retirement and estate planning objectives.
- Controlling expenses can increase your profit and cash flow. PMM will analyze overhead expense and train your personnel to become more cost-conscious. We will offer solutions to your expense problems, help you control expenses and reduce the frequency of fee increases, review your purchasing procedures and review inventory control.
- Group practice analysis is a key consideration for your practice. If you're considering a group practice, or you are already in one, equitable profit distribution is vital to maintaining a successful group practice.