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NEW SERVICE LINE ANALYSIS AND
IMPLEMENTATION
Studies show that
while the average primary care physician controls about $3.2 million in
healthcare services, he/she only generates approximately $550,000 per
year within the four walls of his/her practice. Given the ongoing
erosion of provider reimbursement and increases in overhead, we have
experienced an increasing desire by our clients to identify prospective
new and expanded service opportunities to improve their bottom lines
without increasing pressures on providers to be more productive. In
addition, many new service initiatives provide excellent collaboration
opportunities with the providers' local hospital/ health system.
Partners supports
this process by taking a very practical, step-by-step approach that when
concluded, provides the client with clear and achievable service options
along with precise work plans for implementation.
1.
We help build a "context" for the client.
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Determine their current service "yield" (i.e., mix, volume, payer mix,
referral patterns)
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Identify other revenue opportunities within their service mix (e.g.,
facility and technical fees)
2.
We educate the stakeholders.
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Provide alternative structures to house a prospective new service (e.g.,
joint venture)
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Identify potential legal and tax issues involved (e.g., Stark,
Anti-kickback, Intermediate Sanctions)
3.
We conduct patterned interviews with key stakeholders to
determine their "appetite" (e.g., financial risk, market implications)
for expanding their practice's services.
4.
We present a set of prospective services for the client's
consideration, including financial projections. The client decides
which service(s) to implement.
5.
We develop a detailed implementation plan for the client's use.
Partners' senior
consultants bring extensive experience and expertise in new service
analysis and expansion. We also closely work with the client's tax and
legal advisors to assure the new service is properly "rolled out."
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