The word “consulting”, which roughly means ‘to give expert advice to other professionals’, just doesn’t quite carry the gravitas it deserves. While the basic definition is accurate, a professional consulting firm has, at the very least, the ability to increase a business’s productivity and overall performance. Now, when we’re talking about a healthcare management consulting company, the stakes become much greater as the lives and well-being of everyday people are impacted by the efficiency (or lack thereof) of a medical organization. Healthcare providers face increasingly complex logistics including finances, practice management, recruiting, etc., in order to run the business side of medicine successfully. Doctors, physician assistants, nurse practitioners and all healthcare professionals have already done the hard work of learning how to best care for their patients, so finding the most efficient path to higher profits doesn’t naturally fall in their wheelhouse. The good news is, Health Professionals Alliance (HPA) can take all of those concerns right off your plate. Doesn’t it make sense to lighten your load with one of the best healthcare management consulting firms in the industry, so you can focus on what you do best; care for your patients?
Who Are We?
Health Professionals Alliance is a national healthcare company that offers a solution-based platform for private Physician and Dental practices to access services, financial, analytics and consulting expertise. Our medical management consulting roles are quite diverse and provide a broad range of practical analysis and advice. We’ve built an impressive coalition of medical service specialists and relationships within the healthcare industry over the last 50 years that give us an unsurpassed level of expertise to propel your practice forward. Our mission is to equip your practice with all the tools necessary to maintain your independence, grow profitability and build value while maintaining control over the quality of care your patients depend on.
We exist to make your life easier and our healthcare management consultants do that every day. Our proven process is unique and personalized to ensure your practice stays on solid ground for the entirety of your years in business.
Why Healthcare Management Consulting?
There is no doubt, medical doctors, physician assistants and nurse practitioners are among the best and brightest among us. By and large, medical professionals like you found their healthcare path with the wellbeing of others in mind and we at HPA believe that’s where their focus should stay. Running any business can be a huge undertaking but the healthcare industry is especially complicated with so many ever-evolving variables including billing requirements and compliance responsibilities. Medical providers don’t just make a product and find buyers to sell to. You have to gain a reputation of excellence by treating patients successfully over an extended period while maintaining the business side so you can pay everybody; including yourself. It’s easy to take a wrong turn and become complacent with insurance payors or depend on staff members who don’t share your vision and bring down the overall morale of your organization. Once a disconnect within your practice begins, it can snowball over time into disaster mode with high turnover rates and lost revenue. Band-Aid fixes won’t work and as a someone treating patients or overseeing other medical professionals responsible for the care of others, you don’t have time to do the deep dive required to right your own ship. That’s where a professional healthcare management consulting firm specializing in the needs of healthcare providers like HPA really shines.
Health Professionals Alliance has a wide swath of consulting services that can be tailored specifically to your needs. Whether you are an independent practice with a handful of physicians or are operating several locations, an HPA medical management consultant has the expertise to identify the most effective next steps and formulate a strategic plan for your success. Most of our healthcare management consulting services fall into a few specific categories:
- Strategy Development – Our team of experts will look at your entire business to understand what makes you thrive. We want to empower you with all the tools necessary to help you grow at an efficient and comfortable pace, utilizing a game plan formulated with expertise at the helm. Our strategy development engages other necessary services within HPA to implement the plans put forward.
- Financial Management – Because the payment structure of healthcare is so complex, there is generally plenty of room for most practices to improve. Maintaining status quo often leaves a practice vulnerable on many levels. HPA medical management consultants believe it is critical that healthcare providers understand how their work becomes revenue and how that revenue becomes compensation. That way they can track inconsistencies on a regular basis and make informed changes.
- Practice Management – Sometimes structural challenges build up over time without realizing it. These can cause unnecessary friction within the ranks that may not have anything to do with a clash of personalities. For example, one position may have accumulated more work under its titled umbrella and is too much responsibility for any one person to handle. Unraveling this issue with the help of a healthcare management consultant will bring balance back to the workplace without having to lose any key team members.
- Leadership Recruitment– It takes a significant amount of time to vet executive level candidates properly for any organization. Each healthcare practice has a specific size and culture that needs to be honored when searching for the right person to fill a particular position. Additionally, a recruiter knowledgeable in healthcare practices provides a facilitator for salary and benefits negotiations that can ensure you find someone who will stay committed to your mission for the long haul.
- Payor Contracting and Credentialing – This service may be one of the most impactful of all because it feeds your bottom line like no other. Medical management consulting firms are the best equipped to take the plunge into your billing contracts and practices to uncover where your practice is leaving money on the table. The last thing a hardworking healthcare group needs is to build their organization on a foundation of poor reimbursement for expertise that took a lifetime to attain.
This may seem like a lot and when you’re trying to tackle it all yourself, it is. The good news is you don’t have to feel overwhelmed with the help of HPA medical management consultants. Our team will help you see clearly where you can make sound adjustments with either a single solution or a little something out of every one of our consulting services. No matter what, you can be certain that your investment will come back to you in the form of greater revenue and better collaboration. Let’s show you how we do it!
How We Deliver for You
As a healthcare professional, you know that experience still matters better than most. HPA was built on the notion that doctors should never have to relinquish control of how they care for their patients just to stay in business. For us, healthcare management consulting services provide a backbone to support your long-term independence and success.
From our first conversation, we commit ourselves fully to uncovering areas of improvement and then formulating a plan to get it done. We want to know everything about your organization and your team members so we can target our strategy to reflect the best of what you have to offer. That means connecting with your leadership, providers and staff to reveal what is or isn’t working well. We’ll ask the hard questions and base our analysis on common feedback from your entire team. It’s incredible how different each practice can be which is why this level of research is critical in effective medical management consulting.
No matter which healthcare consulting services you need to utilize, we will guide you through creating your plan strategically and then implement the applicable buckets. You may find that you need to just dip your toe in each bucket or take an extended swim in just one bucket in particular. Either way, HPA Consulting is on your side and determined to help you succeed.
Breaking Down Our Consulting Services
There is no precise application for bucket utilization that will work for every organization which is why it’s essential to begin with developing the right strategy for you.
We will meet with you to determine our first steps. You and your leadership group know better than anyone where improvements could be made. We’ll take your input and target our initial approach accordingly.
- Our team will want to hear from your staff to determine what they believe is working or needs improvement. We do this with interviews and surveys which can be incredibly revealing when developing a plan of action because there may be dynamics at work that leadership is unaware of.
- From there we will create a strategic plan in writing which includes our follow-up measures and our documented deliverables. This includes recommended leadership changes, expansion plans, financial solutions, staff training and development needs and may draw upon other buckets for clarity.
Our consultants will go through all your billing practices and records to identify any potential issues you may be unaware of.
- We’ll dive into your revenue cycle so that you understand the money flow from providing a service to a patient, through the billing process and onto reimbursement. Our goal is for you to learn how to quickly identify improvements in the future.
- From there, we map out how you get paid for your hard work so that you have greater understanding of where your paycheck comes from.
- Our financial experts will evaluate your dormant practice value to offer recommendations for building your business and possibly joining HPA as one of our shareholder practices.
- Finally, our team investigates your insurance contracts and physician’s credential status to see if you might benefit from our payor contracting and credentialing solutions.
Because not all healthcare organizations are alike, business models are not interchangeable. A management structure that worked well at your last practice may fall flat in a new one. You need expertise to filter through every policy to uncover what is holding your business back.
- Our management professionals will break down your practice management to analyze the flow for efficiency.
- We will conduct complex interviews to draw out the personality traits of leadership within their roles and how they think things are going.
- Our staff conversations and surveys will give more insight into the efficacy of your management structure as well.
- We’ll gather data from every nook and cranny of your practice to design a comprehensive strategy and restructure your operations for the better.
- Once we understand your business inside and out, we will gather candidates with your specific needs covered.
- Our team will conduct pre-interviews to make sure you are only vetting quality candidates.
- We will train you and your fellow leadership on effective interview practices to make sure you are asking all the right questions and following tried and true guidelines.
- We will negotiate your offer package with our insight into the candidate’s circumstances at your request.
- As a final feature of our medical consulting for recruitment, we will follow up with your new healthcare executive within the first 90 days to make sure they’re happy with the transition and the match is indeed a good one.
Payor Contracting and Credentialing
- Our healthcare management consulting experts will thoroughly review all your payor contracts and create a matrix to organize the most vital information.
- We will then grade payors based on their routines for reimbursing claims and make a plan for negotiating new agreements.
- A thorough review of Current Procedural Terminology (CPT) Codes is next to ensure your office staff are using correct codes and maximizing insurance payouts.
- HPA will also develop a schedule for payor renegotiation and prepare your value proposition to make the most of those efforts.
- After a thorough review of your fee schedules to make sure you are not getting shortchanged along the way, we will set you of a path of regular review and empowered payor negotiations.
The medical management consulting services of Health Professionals Alliance are as comprehensive as they are personable. What we haven’t yet mentioned within this article is how much fun it can be to get into these buckets with us. HPA is full of genuinely pleasant people with your practice’s success in mind throughout our process so you arrive at your best strategy with greater understanding and new allies in the field. It’s never too late to make new friends, right?
Frequently Asked Questions
What is healthcare consulting?
Healthcare consulting is the expert advice given to medical offices to empower the business side of their practice towards success.
Why healthcare consulting?
Healthcare consulting gives your organization outside expertise to help you fine tune your management and operational policies in a positive direction.
What is a healthcare consulting firm?
A healthcare consulting firm is a business dedicated to advising medical organizations to enhance their operations and profitability.
What do healthcare consulting firms do?
Healthcare consulting firms break down your medical business operations to uncover any improvements that will help streamline your success in the future.
How healthcare consulting firms can increase productivity?
Because of their extensive expertise and years of experience working with medical practices, healthcare consulting firms increase productivity by unraveling inefficiencies and implementing new operational policies.
What is the role of a consultant in healthcare?
The role of a consultant in healthcare is that of an advisor to the leadership of a medical organization who offers a fresh set of priorities towards success.