Have you been searching for a practice management consultant? It is no secret that running a medical practice can be challenging. However, with all the changes in healthcare, managing a medical practice has become more challenging than ever. If you are lucky, you have found an excellent practice administrator who can take the day-to-day operating tasks off your plate.
Even if this is the case, you may find yourself with questions such as, “Are we running the practice efficiently?”, “Are we collecting reimbursements promptly?” and “Are we compliant with all the new rules and regulations?”.
Benefits of a Third Party Practice Management Consultant
Hiring a third-party practice management consultant is the way to go if you question your medical practice's operation. Below you will find five reasons to work with a practice management consultant.
- Gain exposure to industry best practices
- Receive unbiased evaluations
- Have the practice evaluated with a fresh set of eyes
- Utilization of outside knowledge
- Leveraging past solutions to similar issues
Selecting a Third Party Practice Management Consultant:
When deciding on a practice management consulting company, keep these five essential points in mind. By bringing these factors into consideration, you can go into the decision confidently.
Availability
When selecting a practice management consultant, availability is essential. As a medical professional, your days are filled with treating patients and tasks surrounding your patients. Finding the time to set aside to meet with practice management consultants can be difficult to come by. That is why selecting a company that values your time is essential. They stick to appointment times, arrive promptly, and finish on schedule. They must have the time to commit to your practice and be willing to work the necessary hours to identify your practice's problems and recommend solutions.
Market Knowledge
Selecting a practice management consultant with vast market knowledge is vital for two main reasons. First, they can identify potential shortcomings of your practice (the reason you hired them in the first place). Secondly, they will be able to pass on their knowledge to you and your staff. Often medical staff does not have the market knowledge or the time to commit to identifying internal inefficiencies, which is where a knowledgeable third-party consultant comes in handy.
Methodology
One question to ask when interviewing potential practice management consultants is how they would envision solving the issues of your practice at first glance. Identifying a problem is one thing, but having the correct methodology for approaching potential issues and making recommendations is extremely important. If you disagree with the consultant's methods, you may need to consider looking elsewhere.
Flexibility and Adaptability
Being part of the healthcare industry, you have learned that things change, such as the regulations you must comply with. It is crucial to determine how a practice management consultant can deal with these changes. The best way to determine this is to ask questions such as, “how have you solved problems in the past, and how have you adapted when the problems or regulations surrounding the problem changed?”
Expertise and Experience
You want an expert who can identify and solve potential problems. For this reason, hiring a practice management consultant focused solely on the healthcare industry and with a proven track record of success working with other practices is vital. Asking for and following up with references is a great way to gain insight into a potential third-party practice consultant.
Learn More About Applied Medical Systems
With over 25 years of experience, AMS solves your problems. Sometimes it takes an outside opinion to see flaws that are otherwise difficult to spot. Whether you think you are in great shape or in substantial fiscal or functioning pain, our practice management consultants will examine every aspect of your practice, convey our findings, and devise the perfect remedy. Request a free quote today!
