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Practice Management Services

Professional Practice Management, Inc.


We understand your challenges

As a private practice physician, you face challenging issues every single day. If you are like the majority of your peers, you are spending more time addressing administrative issues than you do with your patients. You are overwhelmed with the constant changes in reimbursement guidelines that affect the profitability of your practice. And you have the ultimate responsibility of ensuring that you and your staff deliver efficient, compassionate and quality care.

Professional Practice Management, Inc. understands your challenges. We offer comprehensive practice management services to address the day-to-day functions of running your practice so you can concentrate on what you do best – care for patients.

With more than 60 decades combined experience, our team has the skill and expertise to help you with: 

•  Office management •  Benchmarking
•  Employee hiring/training •  Marketing
•  Financial management •  Information technology
•  Revenue cycle management •  Managed Care Administration
•  Accounting •  Coding

Office Management

When you partner with our PPM, we provide a designated administrator to work with you and your office staff to review existing policies, procedures and protocols affecting the patient revenue cycle and clinical operations of the practice. Based on that assessment, our administrator helps you develop a comprehensive strategy to streamline your daily office practices and eliminate inefficiencies which waste time and money.

In addition, our PPM can provide office management services which include:
 

• Payroll administration
• Purchasing, inventory control and accounts payable processing
• Developing and implementing office procedures such as medical records, patient revenue cycle and clinical operations
• Setting standards for appointment scheduling and patient flow
• Revenue cycle management
• Staff education and ongoing training of regulatory standards

Employee Hiring/Training

Good employees are the key to a successful practice. That is why it is crucial that you hire the right people to fill every position. It is equally important that they have ongoing training, proper supervision and management support.

With the expertise and support system that our PPM offers with employee hiring/training, your staff will be skilled and qualified to keep your practice running smoothly, efficiently and profitably. Specifically, our PPM team can improve your staff efficiency by:

• Recruiting, screening and hiring employees
• Orienting and training staff
• Developing personnel policies and procedures
• Supervising and scheduling staff
• Evaluating employees
• Establishing wages and benefits
• Ensuring compliance with labor laws (EEOC) and OSHA safety requirements

Financial Management

Our PPM team generates monthly financial statements and productivity reports that monitor financial performance, cost effectiveness and practice efficiency.  These reports offer a clear picture to help you make sound business decisions regarding your practice. Among these decision-making tools are:  

• Practice modeling – comparing your operations and staff compensation with industry standards
• Analysis and management of physician compensation
• Fee, revenue and break-even analysis
• Analysis of operations benchmarks
• General ledger/accounts payable
• Financial analysis of new products/procedures
• Physician and staff productivity analysis/monitoring


Revenue Cycle Management

Because coding errors, missed charges, and inadequate documentation lead to lost revenue, our staff stays abreast of the constant changes in reimbursement guidelines. We have the expertise to analyze your current billing and collection practices to determine whether you are charging a competitive fee, as well as your success rate of collecting outstanding bills. We then examine your coding and documentation to determine whether your staff is coding properly not only to achieve maximum reimbursement and but also to ensure that your documentation complies with CMS guidelines.

After we assess your revenue cycle management process, we propose a customized program to address your needs and maximize profit performance. That plan may include ways to:

• Redesign existing or new collections procedures
• Improve procedures for insurance verification, coding, collections, appeals processing and claims resubmission
• Create monthly and on-demand reports of your collections performance and trends
• Monitor third-party billing and account balances

Benchmarking

Before you can establish goals and develop strategies for your practice, you need to know not only where you currently stand, but also what the best practices are among your peers across the country.

Our PPM staff utilizes a variety of benchmarking resources, including comparative data available through Medical Group Management Association and Medicare, to look at everything from how your practice compares financially with others within your specialty to operational efficiencies to patient and employee satisfaction.

Based on what we learn through identifying these best practices, we can help you re-engineer your practice to increase its financial performance and productivity.  Specifically, our PPM team can help you: 

• Design a strategy for the total growth of your practice
• Provide the necessary tools to re-engineer your practice
• Discover cost-effective ways of serving patients
• Provide education and training for your staff

Marketing

Our marketing specialists work with you to develop a customized marketing plan that includes external and internal marketing initiatives that position you to succeed in a competitive environment. Our goals are to significantly increase your visibility, grow your market share and ultimately generate more revenue for your practice.

We conduct in-depth research to identify the attributes that set your practice apart from your competitors and communicate those differentiators through various media. Specifically, our staff will help you create a detailed marketing plan that:

• Establishes measurable goals and objectives within a set timeline
• Creates effective strategies to retain current patients and attract new patients
• Recommends promotional activities to increase public image
• Forecasts trends in the healthcare industry and managed care environment
• Utilizes measurement tools to track effectiveness of marketing initiatives

To support this marketing plan, our PPM staff has the expertise to create a wide array of advertising and collateral materials including:

• Brochures • Letterhead/envelopes/business cards
• Direct mail pieces • Patient Letters
• Educational pamphlets • Print and broadcast advertising
• Newspaper ads    

In addition, our staff can help increase public awareness for you and your practice through arranging speaking engagements, public appearances, and participation in health fairs and other community outreach events.

Information Technology

With evolving standards in health care billing methods and government regulations, it is essential that you have the knowledge and equipment necessary to keep up with the industry’s constant changes.

When you partner with our PPM, you have access to Encore™ an advanced information technology system that supports streamlining the patient revenue cycle and clinical operations of your practice.  One of the leading software systems for physician practices, Encore™ increases the overall speed and efficiency of your practice through:  

• A multifaceted appointment scheduling system
• A comprehensive accounts receivable system
• An automated patient record information system that provides online, real-time access and maintenance of patient medical data.
• Electronic processing of claims and statements
• Assistance in regulatory and contractual compliance
• Nightly backup of data

Managed Care Administration

It is crucial to the profitability of your practice that your staff keeps up with the constant changes occurring in the managed care arena. Our PPM professionals have the expertise not only to set up an infrastructure to guide your practice through contract assessment, reimbursement evaluation and credentialing, but also to analyze and monitor your productivity and profitability on a continuous basis.

Our managed care experts can assist you with:

• The complex process of credentialing and recredentialing for each contract
• A comparative analysis based on Medical Group Management Association managed care benchmarks
• Financial analysis of new products and procedures
• Tracking physician referrals to your practice
• Capitated revenue analysis
• Management reporting and support

We stand ready to help

Whether you want to improve the income and productivity of your practice, increase the time you spend with patients, ensure compliance with ever-changing regulations, or a combination of all the above, our team is just a phone call away from helping you achieve the results you desire.

For more information
give us a call at (662) 377-5009
or e-mail gkimbrough@nmhs.net

  

  Professional Practice Management
1150 South Green Street
Suite 1A
Tupelo, Mississippi 38804

(662) 377-5009