Outsourced Medical Practice Services
Perhaps you’re looking for ways to reduce expenses, or you’re wondering if outsourcing billing and collections to a third party would improve your bottom line.
According to a 2016 Deloitte Survey, 59% of respondents outsource to cut costs, and 57% outsource to focus on core business. Further, more than 50% of respondents noted that outsourced services added value in business case development, strategic assessment, contracting and more.
Still not convinced? Almost 80% of survey participants felt positive about their respective outsourcing relationships. So when it comes to outsourcing for your medical practice-whether for IT management, billing processes, etc.-the benefits are obvious. It not only frees up your employees’ time to work on the tasks they were hired for, but it also unkinks your cash flow.
Practice Planning and Profitability Analysis
Having a qualified third party assess all or part of your medical practice can uncover a host of missed opportunities, and needless exposure to liabilities. It can also provide some strategic direction for your business as you grapple with the many reimbursement, regulatory and market pressures that confront today’s practitioners. Your medical practice business plan is more than notes on a spare piece of paper. It’s a roadmap of the goals and strategies you’ll need to turn your idea into a reality – and importantly, a long-term success.The plan isn’t something to hash out and leave to gather dust, it is a document that will evolve as your practice does. Getting it right will safeguard your business against unexpected expenses and challenges that can cripple an otherwise unprepared practice.