Practice Management

We understand that the responsibilities of caring for patients and managing the business aspects of medicine can be challenging. When working with Medical Specialties Managers we become your partner – an extension of your practice. By providing highly personalized and customized services, we tailor solutions to address your specific needs. We are a full practice management company with access to expertise in all areas of medical practice management – making MSM an ideal business partner and advocate.

Detailed planning and analysis is critical in order to successfully navigate and respond to changes in the delivery and financing of health care today. MSM provides you with the resources, tools and solutions necessary to effectively manage your practice and to successfully compete in today’s healthcare marketplace. It is our job to make your practice a viable business allowing you to focus on providing patients with the highest quality and most efficient health care possible.

Accounting

Medical Specialties Managers excels in accounting services specifically tailored to Medical Practices. We customize the scope of our accounting and financial services based on the business needs of each of our clients in a professional and cost-efficient manner.

Physician and Medical Practices require reliable and efficient operational accounting infrastructure on a daily basis. To meet those needs, MSM provides services that include:

  • Accounts Payable Management
  • Bank Statement Reconciliations
  • Cash Management
  • Payroll Administration and Management
  • Purchasing and Vendor Management
  • Regulatory Filings

In order to make crucial strategic business decisions, access to data and clear, accurate reporting is critical. MSM’s accounting team can work with your Medical Practices to provide financial reporting and other specialized services that include:

  • Analytical Reporting and Forecasting, incorporating practice and accounting data
  • Budgeting and Variance Reporting
  • Customized Financial Reporting
  • Equipment Lease Management
  • Fixed Asset Management

MSM’s accounting and financial services are fully integrated with our practice management solutions to enable you to develop comprehensive business strategies for now and in the future.

Contracting & Credentialing

When 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.

MSM also processes government enrollments inclusive of Medicare, Medicaid and like entities.

Our Credentialing services include physician and facility credentialing. We also provide assistance with hospital privileging processes. Our professional Contracting and Credentialing staff provide support to practices related to the numerous forms of documentation that are required to support a medical practice.

Human Resources

MSM is able to help our clients build a quality workforce to support their practice. Our skilled and personable Human Resources team assists in all aspects of employment inclusive of recruitment, understanding complexities of government regulations, reducing exposure to potential litigation, and assisting in managing employees most effectively.

The Human Resources team at MSM is currently using advanced technology that stores employee demographics, employment information, personnel files, and licensure. Additionally, we have established an applicant tracking database providing efficient communication between hiring managers and the Human Resources team. Our Human Resources personnel are members of the Society for Human Resource Management and Professionals in Human Resources Association.

Information Technology

Today’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 improving on your existing IT infrastructure- MSM has the expertise to make your project successful.

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
  • RIS/PACS
  • Rules Engines

Our unique ability to tackle the most difficult Healthcare IT projects is a result of our experience in assisting all types of medical practices. We are focused on solving real world problems using creative technology solutions with the goal of making your business more successful.

Marketing

At MSM, we provide more of a grassroots approach to marketing. We believe building and fostering relationships are the most effective methods to gain valuable insight into the needs and wants of our customers. Our preference is to contribute time, imagination, and energy in our marketing efforts. With our dedication to investing in personal connections, we are confident we provide our customers and their patients and clients excellent service.

Operations Management

Operations management in medical practices is a critical component in organizational success. At MSM, we evaluate all operations of a medical practice to improve overall efficiency. A few key areas of focus include: patient and process flow analysis and improvement, staff development, clinical capacity planning as well as managing and forecasting patient demand and other process improvements as needed. Managing practice operations efficiently leads to decreased costs and increased productivity. When an organization has proper processes in place, more effort can be focused on patient care resulting in greater patient satisfaction. MSM believes that patient satisfaction is the ultimate driver in optimizing financials.

Planning & Compensation

MSM provides assistance to our client in compensation planning by quantifying their objectives and concerns and providing them with multiple models of compensation. Our experience with medical groups and our ability to analyze the financial as well as legal implications of compensation plans provides our clients with comprehensive insight into the ramifications of modifying compensation for physicians as well as employees.

The fact that we administer as well as develop compensation plans allows us to provide practical as well as theoretically sound approaches to compensation.

Revenue Cycle

A balance of automation and highly skilled staff members allows MSM to reduce time required for claim resolution and optimize payment related to those claims. We work with our clients to offer suggestions for improvement ensuring compliance and best possible reimbursement. Our systems are client customized allowing reporting that is tailored to the client’s individual practice.

Revenue Cycle Management requires extensive data analysis and timely follow-up. Our management team creates monthly trend reporting and benchmark analyses providing our clients with a high level view of their practice revenue performance.

We pride ourselves in consistently exceeding industry standards and specialty benchmarks. We utilize the latest in technology to ensure compliant billing and optimized revenue. Our 20 years of experience has allowed us to partner with our clients to ensure mutual success. Please click here for more information regarding our Revenue Cycle Services.

Risk Management

MSM understands that minimizing risk is a large part of a successful organization. MSM’s risk management approach is holistic and diverse. We have developed a very user-friendly program which is applicable in all areas of an organization. Our focus is on areas such as compliance with workplace laws and regulations; HIPAA compliance; accident prevention; retirement plan administration ensuring ERISA compliance; assessment of insurance needs; monitoring professional liability claims; documentation and record retention and contract review.

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