Transition from Training to Practice – A workshop for residents and fellows
Designed to give the physician, moving from residency to practice, the tools to assess various practice options and make a sound practice opportunity decision.
Designed to give the physician, moving from residency to practice, the tools to assess various practice options and make a sound practice opportunity decision with which s/he will be satisfied, evaluate employment, partnership and buy-in agreements and establish a sound foundation of business management principles. Shorter programs of 2-3 hours can also be provided. This seminar has been presented at the residency programs of Harvard, Tufts, Northwestern, Stanford, Georgetown, Scripps, UC Los Angeles, UC San Diego, UC Davis, UC San Francisco, Loma Linda University, University of Texas and University of Colorado.
Participants will learn:
How to assess the best practice type for yourself – Lifestyle and professional decisions (Utilizing our unique Practice Decision Grid)
Evaluating advantages/disadvantages of practice alternatives:
• Expense Sharing
• Solo practice
• Other Alternatives
Assessing Demand and Opportunities – Where you want to practice Interviewing and Negotiating Strategies
• Evaluating the Offer — Salary, Benefits, Employment, Buy-ins, Partnership Agreement
• Proving Your Worth/Bonus Incentives
• Income/ Distribution and Overhead Share Formulas
• Marketing Techniques to Build a Practice
• Practice Realities/Practice Management
• Managed Care Contracting
• Professional Advisory Assistance
What Medical School Didn’t Teach You About the Business Side of Your Practice.
Presentation will teach essential business skills for those physicians new to practice.
This course should be taught in medical school is what seminar attendees repeatedly say! New physicians entering practice as well as physicians already in practice can benefit from this course. This “hands on,” participatory workshop is designed to teach necessary business survival skills in simple, yet effective methods.
Participants will learn:
• How to Analyze Your Current Financial Picture
• What You Need to Know to Establish Your Operating Budget
• Readable Financial Reports to Monitor Your Practice Health
• Plug the Financial Drains on Your Practice
• Marketing, Do You Need It?
• Who’s Really the Boss in Your Office? — Effective Personnel Management
• Practice Systems- Front desk, Back office, Insurance
• Medical Records Management- Efficient and Effective Ways to enhance quality care
• Checklist for computer needs and to evaluate different software
• Practice Building Techniques Which Improve Your Profits
• Partnerships are like marriages- How to communicate, confront and compromise
Physicians are encouraged to bring their own financial reports from their practice to use in the sections on financial analysis and budgeting. If the physician is not yet in practice, samples for analysis are provided.
Having It All – A Workshop for Today’s Woman Physician
A workshop for women physicians, designed to explore time and stress management techniques and the art of juggling family and career.
A one-day workshop for women physicians, designed to explore time and stress management techniques and the art of juggling family and career.
A Woman’s Work is Never Done:
• Juggling Your Family and Career
• Tips on Personal Time
• Stress Management
How to Develop Leadership Skills:
• Moving into Positions of Authority
• Projecting a Powerful Professional Image
Managing Your Practice:
• Financial Management
• Personal Management
• Financial Self-Defense for Professional Women
Merging Practices: Strategies to Remain Independent
This workshop provides the steps needed to successfully merge practices or form groups.
This workshop discusses the steps needed to assess the potential success of merging practices or forming groups. In today’s increasing managed care environment, merging practices can result in economies of scale, reduction of overhead and increased net income. However, practice business philosophies and styles must be compatible to achieve a successful practice merger. As in a marriage, good communication is the key to compatibility and long term success.
Many groups are being formed by hospitals and physicians. Taking the time to learn from other groups’ successes and failures can prevent costly mistakes.
Participants will learn:
• How to project revenues and expenses to verify the merger will result in lower overhead
• The importance of identifying the “sacred cows” which may block a merger
• The deal breaker questions to ask early in merger or group formation talks
• Income distribution or expense share formulas which reduce the potential for conflict
• How to structure a fair formula for slowing down, discontinuing call, and working part time
• How to bring in new doctors for buy-ins and how to buy-out retiring doctors
• Decisions on death, disability, governance, voting
• Why involving the staff is critical to a successful group formation
• How to change physician and staff behavior toward “groupthink”
• Conservative vs. risk taking business philosophy
• Understanding power and group dynamics
• How to implement productivity and/or resource usage analysis
• Advantages and disadvantages with integrated medical groups, versus “groups without walls”
• Advantages and disadvantages of single specialty and multi-specialty integrated groups and IPAs
• How to incorporate physician extenders into the group
• Negotiation and conflict resolution skills to achieve balance
• The difference between individual and group goals
Avoiding Conflict / Achieving Consensus (or, How to Prevent Practice Divorce)
The objectives of this course are to recognize the common reasons partnerships and groups dissolve and learn prevention strategies to avoid conflict.
Just like a marriage, a partnership or group practice needs to communicate, confront and compromise to maintain a healthy, thriving, harmonious relationship which will survive and prosper in today’s environment. The objectives of this course are to recognize the common reasons partnerships and groups dissolve and learn prevention strategies to avoid conflict.
• Inequitable income distribution formulas based on varying contributions
• Consistent tardiness of one group member
• Obvious undercurrent of tension
• Repeatedly addressing the same issues with no resolution
• Inconsistent, daily, office policy changes
• Personal or personality problems which impact on patients and staff
• Costs involved with multiple types of personal preference inventories
Content and Techniques Taught Include:
• Diagnosing conflict
• Refereeing and intervention strategies
• Promoting constructive dialogue and group dynamics
• Achieving better communication and reducing hostility
• Negotiation techniques and ways to achieve group consensus
• Principles of personnel management and income distribution
• Identifying goals and understanding psychosocial interaction
Starting Up A Private Practice From Employment
After being an employed physician in an (IDS) Integrated Delivery System Hospital/Foundation/Multispecialty group, some doctors find they wish to start up their own practice and return to independence. Many fear this is an overwhelming prospect, but it is simply tasks that need to be accomplished in a certain order. Learn from an experienced practice consultant who has started over 160 medical practices and a local Family Physician who started his own practice after leaving Hospital Foundation employment.
Why certain tasks such as solo, S or C corp. or LLC need to be first decision
Bank loans or self-financing? Why banks love to loan to physicians
Obtaining insurance contracts, IPA or out of network?
Leases, leasehold improvements and space planning
How to save on buying furniture, equipment and supplies
Employer or staff leasing? Important Personnel Policies and Procedures
Office policies and procedures
Marketing, branding, logo and website
Mistakes to avoid, Successes to share
Transitioning Your Practice: Retiring, Selling, or Buying a Practice
Considering retirement? Selling or wanting to buy a practice? Making this transition requires planning and sufficient time to accomplish this effectively for your patients, staff and family. It is more difficult for physicians to sell, transition, start or purchase a practice. Learn creative strategies to help you accomplish your goals. This seminar will discuss the options, including: bringing in an associate, recruiting, selling the practice, buying a practice or closing the practice. Included is the latest information on valuation methodology for selling, divorce or estate planning.
Topics Covered will include:
•Goodwill or Intangible Asset Value – Is there still value?
•Why it is important to sell the practice before discontinuing surgery or slowing down
•Methods to appraise and value the practice
•Equipment valuation techniques
•Valuing accounts receivable, equipment, leasehold improvement and supplies
•Legal and ethical duties to patients when retiring
•Buy-ins or Sale of Practice – What you need to know regarding methods to appraise the practice
•When to use a practice broker or sell the practice yourself
•Why associates need to negotiate the buy-in formula before accepting an employment offer
•Why by a practice versus start one from scratch?
•Structuring the relationship between junior and senior partner
•Hospital support – salary and overhead guarantees
•Requirements for disposal of controlled substances
•Medical Records retention/ownership – what your attorney/broker may not realize
•How to prepare for a new physician taking over the practice
Practice Options: Self Employment vs. Hospital/Foundation Affiliation? What is Your Strategy for the Future?
“The Times They Are A-Changin” There are many practice opportunities for physicians to consider for the future. Will you remain in solo practice? Merge with others to form a bigger single specialty, multi-specialty group or ACO? Join a Foundation or University Affiliation? This workshop will present a balanced discussion of options and issues for physicians to consider before making these important practice decisions. This workshop will be presented by experienced consultant, Debra Phairas, President Practice & Liability Consultants, LLC who has advised physicians in making these critical transitions including shoring up solo/small groups, merging practices, consulting on being acquired and negotiating compensation for physicians. She has worked with over 1,800 practices since 1985. Debra has also performed due diligence for acquisitions and devised physician compensation formulas for Foundations and Universities.
•Is solo or small group practice viable for the future?
– How to survive and thrive by savvy management and marketing
– Is the “concierge” model right for me?
•Merger Mania – Should you merge with others?
– Single Specialty or Multi-Specialty – pros and cons
– Important elements in merging – deal makers and deal breakers
– Can merging reduce expenses/increase net income, maintain independence, increase contracting power to remain in private practice?
– Will merging position the group for future acquisition?
•Joining a Foundation, University Affiliation or Hospital Outpatient Clinic Model
– When to consider an offer and How to assess an offer
– Will goodwill or intangible asset value be included or excluded and how will this be valued?
– How will tangible assets including equipment be valued?
– How many years should the contract be guaranteed?
– Governance and decision making ability?
– Compensation models including base salary and $ per WorkRVU – How this works
– What will it be like being an employee?
– What if I want to leave?
– Will I be restricted from advocating for my patient? Malpractice Risks for Physicians
Marketing and Patient Relations
Marketing in Health Care – Internal and External Strategies Designed to acquaint the physician with marketing concepts, this seminar explores both internal and external marketing.
Improved Patient Relations = Increased Profits
This program is designed to aid physicians and staff in their patient relations techniques to attract and retain patients.
Customer Service and Dealing with the Angry Patient
Utilizing techniques from other fields, participants will learn customer service principles and specific ways to deal with difficult patients
Managing Your Online Presence
What do your patients find when they Google you? An effective on line marketing strategy encompasses much more than just a website. This program is designed to aid physicians and staff into understand the tools you will need to use to attract new patients to the practice, retain existing ones while creating and keeping a positive on line reputation.
Capitation Contracting: Avoiding Pitfalls…Attaining Profits
Current trends in contracting and managed care opportunities will be presented. The workshop is designed to maximize success in managed care contracting.
Negotiating Contracts: Necessary Skills for Physicians, Not Just Lawyers!
This course teaches strategy, preparation, common ploys and pitfalls, and win-win negotiations.
Employing Physician Extenders to Enhance Your Practice
This seminar will teach management of extenders to increase profits, reduce costs, increase efficiency, yet retain patient satisfaction with services.
Strategies to Survive Capitation: Implementing Health Promotion and Wellness
Discusses the financial benefits of emphasizing health education, wellness and prevention in the practice.
Preparing Your Office for Managed Care/HMO Audits
Many HMO’s require an audit of your practice. This seminar will help you prepare for and comply with their requirements and will provide you with a checklist.
Everything You Always Wanted to Know About Dealing with Your IPA but Were Afraid to Ask
This seminar presents strategies for physicians to consolidate power and regain control over their future in a managed care environment.
Liability & Regulatory
Malpractice Prevention – Strategies for the Medical Office Targets malpractice risks specific to office practice with practical solutions
Medical Records – Prevention Strategies for the 3M’s “Malpractice, Medicare, Managed Care”
Seminar includes concrete recommendations and office forms which prevent patient injury, mitigate liability, and correlate documentation with reimbursement and win points from managed care organizations.
Complying with OSHA Standards
This program teaches physicians and staff how to comply with OSHA’s required Injury and Illness Prevention Plan, blood borne pathogens and basic infection control program.
HIPAA Without the Hype
HIPAA presents an opportunity to streamline paperwork, cut costs and make the leap to EMR. Need to upgrade billing or scheduling software? Consider EMR as well.
Basics of Billing Bootcamp
Introduction to Medical Coding Basics: Introduction to CPT®, ICD-9-CM and HCPCS coding, with a focus on proper code selection. Foundations of Medical Terminology: Basic medical terminology used in customer service, claims processing, coordination of benefits departments, an other areas of the medical office. Diagnosis Coding & ICD-9-CM Codes: Diagnosis coding using ICD-9-CM.
Procedure Coding -The Use of CPT® Codes: Organization and format of the CPT® manual, CPT® coding conventions, an introduction to modifiers, E&M coding and the concept of global or “packaged” services. Evaluation & Management Coding – The use of CPT Codes E&M Codes: Code selection based on documented work to ensure that their medical record documentation substantiates the level of E/M service code selected. Topics covered include documentation guidelines, E/M components, case scenarios.
Understanding & Using Modifiers: Correct modifier selection, and the type of documentation detail that is necessary to support reporting specific modifiers. Managing & Preventing Claim Denials: Understand the reasons why a claim was denied, how to correct the claim, how to resubmit it, and guidance to prevent a claim from being denied in the first place. Other topics include coding properly and avoiding the most common errors, coding for surgical procedures (the global surgery package),and medical necessity & chart review.
A Practical Guide to Auditing Physicians Services: Improve monitoring of physician documentation and billing, prospectively and retrospectively. Understanding Insurance Guidelines and Maximizing Payout: Know the rules of the game so you can get paid.Implementing the Medicare Quality Reporting: Learn how to earn a 1.5 percent Medicare bonus by successfully reporting on the quality measures that apply to your practice.
“MBA” for MDs and Managers
This seminar teaches critical business skills in Finance, Operations and Personnel Management, for today’s physicians and office managers.
Strategies to Survive and Thrive in a Down Economy
This seminar will provide you with strategies that have been successfully implemented that reduce overhead in practices.
Reducing Your Overhead…Realizing Increased Income
In this seminar, techniques to successfully reduce overhead and increase net income will be taught.
Successful Personnel Management
A seminar designed to give the physician and office manager the tools and techniques for effective personnel management, compliance with labor law, and to motivate and increase staff morale.
Continuous Quality Improvement: Practices and Perceptions
Physicians and their staff will learn how to use practical quality improvement strategies to improve practice operations and systems.
Telephone, Scheduling & Patient Flow Techniques
Professional telephone and office manners and efficient scheduling of appointments are essential to good patient relations.
Mastering The Paperwork Monster – Effective record keeping simplified
Designed to help physicians and staff establish quality medical records management systems and procedures to improve patient care and office efficiency.
Choosing the Best Computer System for Your Practice
This program will provide physicians and office managers with information on how to choose the best computer system for their office.
Maximize Your Profits – A blueprint for effective billing and coding in the medical office
Designed to maximize reimbursement by proper coding, billing and collection techniques.
Billing Compliance for the Physician Practice
Avoid Medicare fraud and abuse. Essential elements to complete a compliance program.
“Managing Up!” How to Successfully Present Recommendations to Physicians
Managers and Administrators in Middle Management positions need to successfully learn to supervise staff or manage down and to achieve results by influencing their physician bosses by managing up.
Magnificently Managing Your Practice Manager
Learn how to effectively manage, evaluate and motivate your practice manager in this seminar. An excellent practice manager can increase revenues, decrease practice overhead and manage staff to highest performance. The physician owners need to set goals, monitor, and delegate and evaluate performance of the manager.
Financial Benchmarking – Key Financial Ratios to Improve Practice Profitability
Today’s physicians and office managers need a high level of business management skills particularly in the financial area. This workshop will teach critical skills in analyzing the practice profit/loss statement, accounts receivable ratios and cost accounting and how to access specialty comparison norms for benchmarking. At lease one source of comparison benchmarking will be given to each participant.
• Accounts Receivable Management and Cash Flow
• Importance of Profit/Loss Statements as Management Tools
• Benchmarking Overhead Categories by Medical Specialty
• Payroll to Collections and Full Time Equivalents Ratios for staffing levels
• Essential Ratios to Calculate on Monthly Status Reports
• Office Visits, Hospital and Surgery/Procedures Productivity to achieve desired Net Income
• Cost Accounting Techniques
Repairing Revenue Leaks
Making the Most of Your Revenue Cycle Performance Using Proven Tools and Best Practices
Contracting: Negotiating Physician PPO Agreements Effectively
This lunch-time seminar is a must for physicians and/or their office administrators who contract with third parties. Learn to understand and utilize your power in negotiating contracts and what to look for when reviewing the contract.
Minimize the Risk, Maximize the Value of Your Practice Lease
This workshop will teach you how to negotiate a better office tenant lease and protect yourself from costly mistakes.
*All seminars and manuals are non-refundable