Management, operations and HR consulting services that provide excellent support for any organization’s existing management team
Practice Start Up & Practice Expansion Services
Our expertise includes conducting Super P&L – this is a proprietary analysis that provides practices with valuable insights into the current productivity and profitability of their providers. This visibility is crucial in determining the feasibility of adding providers, locations, and other expansions while maintaining profitability.
We firmly believe in the principle that expanding a practice should only be pursued if the current providers are profitable or operating at maximum productivity. We are here to help you make informed decisions and ensure your practice’s continued success.
Strategic Business and Financial Planning
To build a successful practice, you need a comprehensive plan that outlines strategic goals and resource requirements. A strategic plan serves as a road map for the future, guiding the practice towards its objectives and defining the means to achieve them.
We will assist you in the pre-planning of the practice (click to read more)
- Preliminary planning and assessment; communications and meetings with the physician.
Development of proforma
- Revenue and expense projections including start-up budget and projections for the first year of practice (banks require this to obtain capital/credit).
Preliminary development of organizational structure
- Number of employees, office space set up, etc.
Practice Development and Set-Up
Our goal is to maximize reimbursement and minimize expenses
After Step 1, your practice can be fully set up within three to six months. Our aim is to optimize reimbursement, reduce expenses, boost patient volume, and establish a streamlined practice. We’ll manage and coordinate all aspects of the setup, such as:
- Initial acquisition of managed care agreements
- Enrollment/credentialing with insurance companies
- Medicare and Medicaid enrollments
Billing office set up:
- In-house or outsourced
- Staff hiring and training, policies and procedures, job descriptions, etc.
Practice Management Support
Revenue Cycle Assessment
Our revenue cycle assessments are customizable and often include:
- A comprehensive billing operations overview (from patient check-in to claims payment)
- Reviewing and analyzing your current staffing structure, staff duties and workflows
- Reviewing your current processes, policies and procedures and utilization of technology and tools to streamline the billing process
- Reviewing billing and accounts receivable data (fee schedule, charges, payments, adjustments, denials, etc)
- Reviewing coding productivity and identifying potential coding errors and issues
- Tips, tools, suggestions and training to proactively increase patient and insurance collections, reduce accounts receivable days, reduce claims denials, etc.
“Excellent advice regarding billing, contracting and strategic planning”
I have worked with Welter Healthcare Partners for the last year, and they have consistently given me excellent advice regarding billing, contracting and strategic planning. The Welter Healthcare Partners team is not only knowledgeable, but they are also quick to respond when I ask for help. I highly recommend their services.
Center for Spine and Orthopedics