Business & Practice Operation Consulting Services
- Practice Management Consulting services
- Accounting/Write-Up Services
- Payroll Services
- Tax Planning & Preparation Services (Business & Personal)
- Billing, Coding and Collections Consulting Services Benefits
- Rural Health Clinic Services
If you have any questions or are interested in any of the services detailed below, please do not hesitate to call us at (864) 233-0254 for our South Carolina location and at (757) 425-5560 for our Virginia location.
Practice Management Consulting Services
Practice Start Up - Our practice start-up services include assisting in feasibility studies, business plan development, regulatory issues, facility and equipment planning, HR, computer systems, policies and procedure development, organizational structure, tax planning and bookkeeping assistance.
On-going Practice Management Consulting - On-going assessments and assistance in business operations of your practice to increase efficiencies in your Billing, Scheduling, Patient flow, Front Office Staff and Back Office Staff.
Business Valuations - Our firm provides cost-effective business valuation services, quickly and efficiently.
Financial Statements - Our firm prepares professional financial statements, as well as tailor-made financial analysis that can help business owners and managers eliminate inefficiency and realize a maximum profit potential.
Government Compliance Issue - Our firm can assist your staff in maintaining compliance with government regulations such as HIPPA, OSHA, and Coding fraud & abuse.
Accounting Software Selection and Implementation - Need help with accounting software selection and implementation? Our firm will help you select the software that's right for you and will teach you how to use it effectively.
Accounting / Write-Up Services
- Monthly accounting customized to your needs
- Monthly and Y-T-D renderings of profit/loss
- Analyze monthly practice management reports
- Retirement Plans
- Tracking charges in relation to receipts
- Accurate collection ratio
- Accounts receivable reports
Payroll Services
- Prepare Employee Payroll (Check or Direct Deposit)
- Process Payroll Taxes and Submit EFTP
- Prepare Quarterly Tax Reports (941, 940 & State Taxes)
- Prepare & Submit Year End Reports (W-2s, 1099, etc.)
Tax Planning & Preparation Services
- Tax Planning
- Preparation of Tax Returns
- Personal Tax Returns (1040, etc.)
- Corporate Tax Returns (1120 & 1120S)
- Partnership Tax Returns (1065)
- Gift, Estate or Trust Returns
Billing, Coding and Collections Consulting Services Benefits
Coding
Coding is the most important step in assuring that you receive the correct payment for the treatment you give patients. When you treat a patient, you must list the correct diagnosis and all applicable treatment codes on the encounter form. If the patient encounter form is not coded correctly, the insurance company will deny the claim. You must then correct the coding and re-file the claim. By the time you receive payment, the value of the payment has diminished. We will work with you and your staff to properly code so that your practice files a clean claim the first time. Also we will make sure that your staff is using up-to-date Diagnosis and CPT codes correctly.
Billing
The primary concern in billing is that the practice files a clean claim the first time so that the insurance company will pay the claim quickly without any reason for rejection. We will work with your staff so that the patient's insurance is verified, determine the amount of the co-pay to be collected at time of the visit, code the diagnosis and procedures correctly and completely, and file the claim immediately. We will make sure that there is proper chart documentation to support the claim, that you are using timely/correct information, which will improve your error rate, ensure that payments and adjustments are posted correctly, and that you receive proper payment for your claim.
Collections
Conventional wisdom suggest that if a practice has a good collection system and all employees follow the system, the practice should experience few problems with cash flow and accounts receivable. That is not always the case. A practice needs a defined and practice specialty collection system that all employees understand, follow, and accept responsibility for their part of the system.
See more Collections information regarding the following:
Rural Health Clinic Services
The Rural Health Clinic Program has been around since 1977. However, until recently, RHCs have received little attention. The purpose of RHCs is to increase access to quality health care for citizens living in more rural, underserved communities. RHCs provide for the expanded use of nurse practitioners, physicians assistants and certified nurse midwives in these areas.
To be eligible for RHC certification, a medical practice must be located in a Health Professional Shortage Area (HPSA); Medically Underserved Area (MUA); or a Governor Designated Shortage Area.
RHC's are reimbursed by Medicare & Medicaid on a cost-based method rather than from a pre determined set fee schedule. Cost-based reimbursement from these programs (Medicare & Medicaid) is substantially higher and can mean a significant increase to your practice bottom line.
If you would desire to know more about the RHC program and what it can do for your medical practice, please respond and we will arrange a no obligation consultation meeting with you to answer any questions you may have.
Start-Up Services include:
- Initial feasibility studies to determine if the Rural Health Clinic program is financially feasible for you.
- Assist in preparing the application forms, such as the 855-A form.
- Develop the required policy and procedure manuals.
- Pre-survey inspection prior to the state inspection to determine any deficiencies.
- Preparing projected cost reports that are essential in determining your initial cost rate.
On-going services include:
- Annual cost reports to Medicare and Medicaid.
- RHC Cost Rate Analysis
- Annual compliance reviews. (Most states conduct compliance inspections every three years. Our consultants will review your policies including policy manuals, PAG minutes, and quality assurance plans.)
- Specialized monthly cost accounting and practice reports.
- Continuing consultations in financial and regulatory issues.