Services

Professional Services

Professional Management Associates provides business solutions to help develop the highest practice efficiency, which will in turn, allow the highest patient care and satisfaction. Here are a list of services we offer to achieve that goal:

Practice Efficiency Analysis

A Practice Efficiency Analysis is a comprehensive review designed to provide a clear and concise baseline for your practice and recommendations for improving the operational and financial performance that are both reasonable and attainable.  It is also the tool utilized to develop a strategic and operational plan.  Once completed, a report is then prepared analyzing the following areas:

  • Billing and collection
  • Expenses
  • Income, Productivity and Profitability
  • Accounts Receivable
  • Personnel, Policies and Procedures
  • Practice Operational Issues
  • Office Space
  • Marketing
  • Legal/contracts
  • Insurance
  • Long-term Planning
  • Retirement


A summary of recommendations is issued.  PMA then assists with the implementation of the recommendations to ensure the long-term growth of the practice.

Retainer Relationship

Professional Management Associates assists most clients in the ongoing management of their practice.  Initially, this would involve the implementation of the recommendations made in the Practice Efficiency Analysis.  In addition to assisting with the management of office and staff, PMA streamlines services such as facility management, pension administration, investment and cash management, legal and accounting services.

Mergers

PMA performs pre-merger assessments as well as facilitation of the merger to include the planning Merger assessment and planning issues include: Analyzing old practice’s A/R, fixed assets, and debt, formula development for physician compensation, restructuring personnel, reviewing office space, improving operational efficiencies, assessing hidden costs to merge, and examining all physician and lease contracts.

Billing and Collecting

PMA enhances practice revenue by improving all operational aspects of billing.  An examination of the appointment scheduling process, encounter forms, E&M documentation guidelines, billing and collection policies, fee schedule, managed care and capitation contracts, billing system, A/R reports, and collection letters is undertaken to ensure the maximum reimbursement is obtained.

Additional Services

PMA provides the following additional consulting services:
  • Market Assessments
  • Feasibility Studies
  • Strategic Business Plans
  • Facility Analysis and Development
  • Strategic Marketing Plans
  • Physician Recruitment
  • Tax Planning
  • Physician Compensation and Incentive Plans
  • Evaluation of Billing Hardware and Software Systems
  • Productivity Analysis
  • New Practice Start-Ups



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