Compensation and Productivity AnalysisMSM calculates the monthly production of each physician in a group practice and compares that production to industry benchmarks. MSM utilizes RVU (Relative Value Unit) analysis to determine the production levels. Our clients can use this analysis to easily determine which physicians are underperforming and implement an action plan to increase their production. This analysis can also be used to determine physician compensation.
Contract Analysis and NegotiationWhen utilizing MSM’s contracting services, we solicit, review and negotiate provider agreements inclusive of terms and conditions for our clients. Our professional team analyzes and prepares high level summary reports highlighting key issues and providing recommendations.
Our summary reports include rate analysis and abstraction of key language components of the agreement. We strive to ensure complete client awareness regarding potential impacts of the contractual relationship.
Facility Design and DevelopmentDesigning and planning a new facility or renovating an existing facility can be a complex and challenging endeavor. Our comprehensive approach is designed to provide you and your associates with a turn-key solution for management and oversight of the facility development and design process. MSM can assist you in the design, planning and implementation process. We coordinate all aspects of the project and closely interact with the various parties involved including physicians, staff, architects, space planners, designers, contractors, IS/IT/Telecom vendors and other business associates as needed. It is our job to ensure that the facility design is cost-effective, enhances operational efficiency and meets the needs of patients and staff. Read More
To meet your needs, MSM provides specialized services that include:
- Project management
- Project financial planning and budgeting
- Facilitation of site selection, vendor selection and proposal processes
- Facilitation and participation in the design and planning phases
- Procurement of furniture, fixtures and equipment as needed
- Facilitation/management of EHR/EMR vendor selection and implementation process
- Facilitation/management of IS/IT Telecommunications interfaces
- Management of all operational facets of practice relocation including state and local agency notifications, health plan notifications, Medicare and Medicaid enrollment changes, etc.
Group IntegrationIn order to maximize long term stability and viability, it has become increasingly important for medical groups to develop and implement strategies that counteract the rising cost of practicing medicine. Such strategies might include group mergers, acquisitions, expansion (e.g., size, location, service line diversification), and/or creation of integrated networks/strategic alliances with other medical groups and/or hospitals. MSM has the skills, knowledge and experience to assist you in developing these and similar strategies. We effectively guide our clients through a detailed planning and implementation process to ensure a successful outcome with particular attention toward containing costs. Read More
The following services are offered to assist physicians and medical groups in these types of initiatives:
- Facilitation the group’s development of short and long term strategic, operational and financial objectives.
- Prepare detailed implementation plans, timetables and status reports.
- Identify industry trends and advise clients regarding their potential impact upon the practice’s performance and ability to achieve objectives.
- Identify alternative strategies and related advantages/disadvantages.
- Prepare operating and capital budgets as well as financial pro formas to forecast potential cash and capital funding requirements.
- Review organizational structure, leadership capabilities and staffing and implement changes, if necessary, that are consistent with stated objectives.
- Facilitate communications and negotiations between parties (e.g., other medical groups, hospitals, and/or other business associates) involved in mergers, integration initiatives, acquisitions, or practice dissolutions.
- Provide project management to guide and facilitate implementation of group formation and integration initiatives.
- Provide consulting services related to practice start-up requirements and activities.
- Oversee and facilitate communications with business associates, payers, hospitals, and others in order to fulfill capitalization requirements.
- Provide and/or recruit practice personnel as needed.
Group Start UpIt is common sense that If you don’t know where you are going, any road will get you there. The key to our approach is to find out who you are and where you want to go with your medical practice. When we have assisted you in establishing your goals and outlined our objectives, MSM can then begin to make suggestions about the types of group structures that might be a best fit for you. MSM can administer and perform all of the steps necessary to get your group started or simply provide you with the map, the steps and the tasks that need to be accomplished.
Human ResourcesMSM is able to help our clients build a quality workforce to support their practice. Our skilled and personable Human Resources team can assist in all aspects of employment inclusive of recruitment, understanding perplexities of government regulations, reducing exposure to potential litigations, and assisting in managing employees most effectively. Read More
The Human Resources Department provides services in the consulting capacity including but not limited to the following:
- Advisor on personnel issues
- Counseling and termination
- Personnel Record Maintenance
- Policy and Procedure Procurement
IS/ITToday’s healthcare market demands best of breed IS/IT solutions to maximize efficiency and profitability. To address this demand, MSM employs a team of skilled software developers, analysts, systems administrators and project managers with expertise in the healthcare industry. Whether it be important system integration, developing a new software application, implementing a new information system, or just improving on your existing IT infrastructure- MSM has the expertise to make your project successful. Read More
MSM’s possesses expertise in a diverse range of technologies including:
- EHR/EMR Systems
- GE Centricity Group Management
- Health Level 7 (HL7)
- Healthcare Management Information Systems
- Microsoft .NET framework (web and windows)
- Microsoft SQL Server
- Microsoft Windows Server
- Microsoft BizTalk
- Rules Engines
MarketingWhether a medical practice is starting up or simply needs an “uplift,” MSM can address all aspects of marketing from brand conception, brand identity and brand awareness. These components are critical in the creation of a successful organization. MSM has consultants experienced in brand management, graphic design and advertising who can customize marketing strategies that best fit your medical practice.
Operations AuditMSM understands that in today’s environment, maintaining patient satisfaction and sustaining profitable volumes is a balancing act. Routinely auditing your clinical operations is an effective way to keep your patients happy and your practice running smoothly. MSM consultants can assist by performing a clinical operations audit. Our team has extensive experience in clinical operations and systems applications. As with many of our services, audits are customizable to the needs of our client. Read More
Some of the areas that we typically review are:
- Patient intake
- Wait times
- System applications
- Documentation of medical services
- Staffing ratios
- Customer service
- Medical records/records retention
Physician and Hospital Alignment StrategiesWith the advent of healthcare reform, the alignment of hospitals, physicians, medical groups and other providers has assumed a greater sense of urgency. Reform legislation provides economic incentives to providers who deliver care within a more efficient, cost-effective and coordinated framework. For example, as a result of its preeminence in the reform legislation, there is renewed interest in the “Accountable Care Organization” (ACO) as one type of integrated network model. More than twenty years experience makes MSM a well-positioned partner to develop and implement alignment strategies that maximize operational effectiveness, improve patient care, reduce costs and increase revenue. Read More
With consultants who have experience in both medical practice management and hospital administration, MSM offers a unique perspective that enables us to effectively manage the entire clinic development and implementation process. These services include:
- Business plan formulation
- Operating/capital budgets and financial pro forma
- Contract negotiations
- Staff recruitment
- Space planning
- IS/IT systems implementation and integration
- Practice relocation
- Physician compensation methodology
- Health plan contracting and credentialing
- Revenue cycle management
- Clinical and operational integration within the hospital’s organizational structure
Revenue Cycle AuditRevenue Cycle audits are a good way to check the health of your billing operation. Many practices use these types of audits as a means of identifying areas for improvement, optimizing revenue and updating their operations after major regulatory changes. MSM has a team of experienced practice management and revenue cycle consultants who can review your practice’s revenue cycle to help you continue to succeed in today’s healthcare market. Every practice is unique, therefore MSM has developed an auditing model that allows us to customize to the needs of the client. Our standard audit would consist of the following items keeping in mind the focus of our review would always be based on the areas of the concern in your practice.Read More
Practice Metrics/Data Analysis
- MSM will review your pricing, collection ratio, payor mix, and accounts receivable to ensure the practice is performing at or above industry standards. Based on the information reviewed, areas of concern and opportunities for improvement will be identified.
- MSM will review your front office processes to ensure that necessary billing data is being collected effectively, over the counter payments are appropriately collected and patient interaction is appropriate.
- MSM will review the back office (billing) processes to ensure data is captured accurately and timely, clean claims are submitted, payments are applied appropriately, denials are managed effectively, patient billings are effective and processes are compliant with all applicable regulations.
- Based on this data we provide a written report outlining the areas reviewed, including comparisons to industry standards and options for process improvement.
Strategic PlanningMSM provides the resources to medical groups to facilitate planning activities as well as research and analysis necessary to effectively plan for the future.
As a provider of comprehensive management services to numerous and varied medical specialties, MSM has the advantage of providing a medical group with the perspectives of other specialties and avoids possible pitfalls associated with having tunnel vision. Additionally, since MSM actually manages facilities, we have a realistic and practical approach to the planning processes.
What makes MSM different is our real life experience and our ability to provide planning and implementation support if our clients so desire.