Consulting – Expert Guidance Every Step of the Way
On-Site’s consulting program provides services to increase revenue, reduce costs, improve cash flow, and construct a foundation for early and long-term financial success. We have implemented many consulting strategies that have helped practices solve problems and identify revenue opportunities throughout our 42 years of success.
Most physicians and medical organizations fall into one of three practice types: start-up,
established practice looking for growth/profitability, or a practice looking for an exit strategy.
On-Site’s consulting service can help in finding issues and identify opportunities. Some of those can include:
- Identifying and addressing a problem or concern, and defining one or more potential solutions that On-Site or the existing management team can quickly implement to cure the issue
- Identifying an opportunity that can lead to better practice efficiencies and/or top and bottom line profits
- Financial Investigation that provides financial review & audit looking for theft and or embezzlement activities for complete financial control
- Bill Review for claims processing, payment posting, & collections services
- Expertise for Start-up or Expansion of a Practice that can provide one or more of the following:
- Financial Management Services that can project funding & financing, development of business & financial plans, budget development, project management
- Finding the correct location and negotiating the lease or purchase of the land or building
- Assisting with the internal design of the building (work space, technology requirements, storage, patient processing, work-flow, and more)
- Utilizing the On-Site group purchasing agreement (GPO) to save on furniture, medical equipment, medical and office equipment and supplies, and more
- Managed-care contracting & credentialing
- Hiring and on-boarding of staff
- Bookkeeping– Setting up general ledger, accounts receivable, accounts payable, payroll
- Project Management Services – Contractor and Vendor Management Services, staying within defined budgets
Start-Up Medical Practices
Whether you’re a physician moving to a new area or just finishing residency, On-Site can provide services to jumpstart your new business. We understand that amount of work required and necessity of performing these tasks in the correct, sequential order can be overwhelming. On-Site will complete all of the tasks and provide you with a successful opening.
The standard blueprint for success for this is:
- Develop a business plan with financial forecasting
- Securing funding or a business loan
- Setting up a corporation
- Location selection
- Office design & development
- Equipment & supply discounts using On-Site’s Group Purchasing Power
- Insurance credentialing
- Medical software & hardware technology
- Marketing & practice promotion
- HIPPA, PHI & OSHA compliance
- Communications solutions
- On-Site’s Management Services (optional)
Established Medical Practices Looking to Grow
Whether you want to improve your bottom-line so you can decrease your workload, need help to transition to electronic records, upgrade outdated software to a state-of-the-art electronic medical solution, or grow your patient base through marketing, On-Site can help your business through our 42 years of proven experience.
After a stringent and thorough initial evaluation of your practice, we will develop a plan illustrating how On-Site will position your business for improved profits and success.
If you are thinking about how to improve any of the following areas please call us to discuss how we can help:
- Improving operational efficiency (staffing issues, costs, workflow)
- Growing (new patient acquisition, improved revenue per patient, improving market perception)
- Financial Improvement (cost management, improved/expanded service opportunity, improved revenue per patient)
Medical Practice looking for an Exit Strategy
If you are thinking about positioning your practice to sell, On-Site will help devise and facilitate a profitable exit strategy. We develop a plan to modernize your practice in needed, and build transferable value, or develop a plan to promote and sell it as is. On-Site’s goal is to create a profitable and desired medical practice to sell to a hospital system, a start-up physician or physician group looking to expand.
Exit strategy steps can include:
- Define exit goals
- Determine value
- Build exit plan
- Assist is finding prospective parties
- Assist in the negotiation and sale