Practice Management
Successful medical practices understand that it takes high caliber employees to properly manage the internal business functions of their complex organizations. Yet, many medical practices lack the resources to hire educated and experienced personnel with the skills required to thrive in today’s financially challenging environment. Because the fiscal consequences of uninformed managerial decisions are magnified, it is imperative that a practice receives sound financial counsel. Unlike most medical billing firms, Phymedco offers clients an active practice management service.
Clients leverage Phymedco’s team of seasoned professionals for financial direction and managerial assistance of their internal operations. Our experienced practice administrators implement and oversee proven workflow processes and policies across a wide range of functions. These processes help ensure financial viability through superior revenue capture, reduced operating expenses, and increased office efficiencies. Most importantly, Phymedco frees the doctor to focus on what is truly important, their patient’s care. We strive to form a business relationship built on mutual respect and believe a more financially healthy medical community not only benefits physicians, healthcare employees and patients but the entire Western New York community.
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PRACTICE MANAGEMENT FEATURES
- Practice management software provided
- Front office staff training
- Operating policies and procedures
- Physician contracting and credentialing
- Coding review and training
- Personalized financial reporting
- A/R and cash flow analysis
- Owner driven consultative meetings
- A/P and bookkeeping functions
- Payroll and HR management
- Annual chart auditing
- EMR/EHR consulting and implementation
- OIG, HIPAA, Red Flag compliance
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