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Physician
Practice Management and
Malpractice Prevention Specialists |
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PRACTICE
VALUATION
 Valuation
of Practice for Purchase / Sale / Buy-in
Negotiation of Terms
Expert Witness & Litigation Support
Practice & Liability Consultants will perform a valuation
of your practice to estimate its financial worth in today's
changing healthcare marketplace. Valuations or Appraisals
are needed for the following:
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Sale of the
practice
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Buy-out of
partnership
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Buy-ins to
partnership
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Mergers to
equalize assets
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Sales to
integrated delivery systems, practice management companies,
management services organizations
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Property
tax or insurance
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Divorce
The comprehensive written report
outlines the factors and methodologies used in arriving
at the final recommended figure. The valuation consists
of an on-site review and analysis financial of information.
A written report is provided with the rationale for valuation.
We also provide a comparison to norms by specialty. The
reports are produced in both bound and unbound formats to
provide a mechanism for distribution to potential buyers.
Advice on structuring the sale or purchase and negotiation
of terms can also be provided. Assistance in acquiring legal
services can also be arranged through our network of experts.
TOP
HOSPITAL
PHYSICIAN RECRUITING SUPPORT
 Practice
& Liability Consultants is the best firm for assisting
hospitals with physician recruitment support due to reputation,
proven experience and expertise with a solid track record
for establishment of new practices, merging new physicians
into existing practices, ability to successfully work with
physicians, and provide excellent documentation for demonstrating
community need to provide recruitment assistance.
A. New Recruit Joining an Expense Sharing Practice or Joining
a Group Practice:
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Proforma revenue
and expense comparison spreadsheet to demonstrate viability
of bringing in an associate and to inform hospital of
recruitment expense for overhead share, breakeven point
and dollar outlay for support.
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Documentation to
support Hospital Recruitment Community Need
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Charges, Adjustments,
Collections, Line Item Expense/Overhead ratio, Net Income
comparisons to national and local benchmark norms for
the specialty.
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Accounts receivable
ratio analysis with comparison norms
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Staffing ratios
– Payroll to gross collections ratios by staffing
type and Full time equivalent ratios per staffing type
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Recommendations
to improve all of the above financial, productivity and
staffing ratios
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Valuation of practice
tangible and intangible assets
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Recommendations
for structuring an incentive program for the associate
and structuring any buy-in to the practice
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Summary session
with the practice to discuss improvements
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Advice to practice
for successful long term arrangement including terms of
employment or expense sharing
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Credentialing
for insurance plan participation if needed
B. New Recruit Establishing a New Solo Practice
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All of the above
plus:
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Provision of a
Capital Budget for start up equipment, furniture, computers
and medical instrumentation
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New Practice Establishment
utilizing our NEW PRACTICE DECISION GRID with steps to
start a practice from scratch.
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Advice, task assignment,
timelines and monitoring.
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Consultation to
establish all practice systems such as medical charts,
telephone, scheduling, back and front office procedures,
Medicare Compliance, Personnel Policies and Procedures,
OSHA Compliance and risk management.
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Insurance plan
credentialing and follow-up
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Interview and
assist with hiring office staff
MALPRACTICE
PREVENTION SERVICES
 Development
of Claims Prevention Programs
On-Site Loss Prevention Survey Programs
Seminar Development and Presentation
Audiovisual Materials Development
Our consultants have developed claims prevention programs
for many state and national malpractice insurance companies.
Highly acclaimed seminars and lectures incorporating claims
prevention information, motivational behavioral change strategies,
actual claims examples and practical solutions have been
presented nationwide for physicians.
Development of Claims Prevention
Program
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Program organization
including staff, interaction with underwriting, claims
and data processing
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Analysis of claims
for trends
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Evaluation of existing
programs
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Licensing of survey
programs, handouts and materials and staff training
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Communication with
insured via newsletters, handouts, written materials
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Program implementation
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Evaluation and
tracking to assure successful results
Loss Prevention Survey of Ambulatory Facilities
and Physician Practice
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Pre-creening survey
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On-site review
of all departments and functions
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Specialty specific
risk analysis
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Summary meeting
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Educational session
for physicians and staff
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Confidential written
report with recommendations to reduce risk
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Seminars and Lectures
to Physicians, Mid-level providers, Managers, and Staff
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Development of
seminars based on claims
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Creative handouts
and materials to accompany seminars
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Case study summaries
for seminars
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Mock deposition
and trial formats
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Scripts for patient,
doctor, lawyer, claims representative case examples
Lectures on common claims prevention topics including:
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Comunication, Patient
Relations and Rapport
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Handling Unexpected
Outcomes
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Informed Consent,
Informed Refusal
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Avoiding Failure
to Diagnose, Treat and Refer Claims
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Managed Care Risks
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Documentation,
Medical Records, Release of information
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Practice systems-
Recall, abnormal results, tracking, referral/consultation
process
Individual Risk Assessment Program
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Self study- Home
study risk management
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Audio, video, internet
programs
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CME test
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Audiovisual Development,
video, audiocassette, slide/tape, PowerPoint production
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Award winning video
productions - $2,000-$500,000 budgets
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Four camera, live
on tape production for seven set video production
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Documentary style
interviews of doctors
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Actual delivery
on camera as expert
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Concept, script
development, casting, direction, editing and production
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