Call Us: (847) 382 - 3206

 

Practice Management

As a small business owner you confronted with issues that have nothing directly to do with practicing dentistry or medicine. We visit clients throughout the year and take a "hands on" approach to guiding you through the business issues you were not trained to handle. 

These include:

  • Understanding how your practice compares to others in your specialty--financially and operationally
  • Personnel management 
  • Strategic planning
  • Government compliance
  • Workflow Optimization
  • Managing the revenue cycle--billing and collections
  • Creating a financial surplus by managing costs

These services form the solid foundation of our relationship with you.  You can customize the package of services based pm your specific needs.  

 
Understanding how your Practice is Doing Financially

We prepare operating statements customized for your practice needs that clarify:

  • How profitable your practice is.
     
  • Potential problem areas with your expenses.
     
  • Potential problem areas with your collections.
     
  • Where each principal stands with their division of income.
     
  • Potential cash flow issues, often before they become acute.
     
  • Strategic planning issues, either opportunities or pitfalls.
     
  • Tax issues.

 
Personnel Management

Areas we can help you with personnel management:

  • Hiring the best people available.
     
  • Training and managing staff effectively and efficiently.
     
  • Putting in place sound personnel policies.
     
  • Advice on handling employee issues.

 
Strategic Planning

Strategic planning means facing the practice of medicine proactively, rather than sitting back and letting the business environment dictate what happens to you. 
 
Some areas of strategic planning include:
  • What insurance to accept.
     
  • Where to open up locations.
     
  • Additional services or products to offer.
     
  • When to take on new associates or partners. 
     
  • Whether to expand or contract operations.
     
  • How to respond to unexpected changes in the business environment.

Our experienced consultants have seen the entire business cycles of literally hundreds of practices.  We can put that experience to use for you.  This is particularly effective because our consultants know you so well from our frequent visits!

 
Government Compliance

Without a doubt, the government is the most influential force on a medical practice.  If you fall out of compliance with government requirements, you can be shut down.  We can help you stay in compliance in the following areas:
 
  • Income tax reporting
  • Payroll reporting
  • NPI numbers
  • Medicare numbers

If you are out of compliance, you must get back in compliance as soon as possible.  Problems get worse when ignored.  Call us today if you have a compliance issue!

 
Buy-In's & Buy-Outs

Whether you are on the buying or selling end of a buy-in or a buy-out, we've been there before.  Many times.  We not only understand how they work, we also understand how they work for your particular specialty in the current business environment.