The Value of Hiring a Medical Practice Consultant

Hiring a Medical ConsultantMedical practice management consulting firms are trained to work with all healthcare providers as well as physicians in medical specialty fields like orthopaedics and radiology; with the objectives of improved productivity and increased profit. Consultants study the business side of the practice, evaluating the workflow and implementing policies and procedures that create consistency, efficiency and a work environment that enables the physician to concentrate on providing high quality healthcare.

A medical practice management consultant will establish benchmarks to track specific areas of the practice. The importance of benchmarking is that it sets performance standards for the physician and staff, and identifies areas of strength and areas of opportunity, providing valuable feedback in the form of empirical data such as statistics, evaluations, and performance ratings. It is imperative that the medical practice management consulting firm you hire have in-depth knowledge of how to benchmark and be able to communicate to your practice specifically the targeted metrics, how they plan to collect the information, interpret the results, and work with you to make improvements based on the results.

A practice management consulting firm will objectively evaluate your practice's financials to determine if you need to reduce expenditures and/or trim waste. They will also assess your workflow for the practice's overall productivity, and make recommendations based on their findings. Because budget reductions coupled with a mandate for increased productivity can be a difficult objective to achieve, these types of assessments are often better conducted by an impartial source, especially in offices where a close knit, family atmosphere prevails as the work environment.

The solution is a collaborative partnership with an industry leading organization whose goal is to work with your busy orthopaedic or radiology practice to improve its profitability and increase productivity, resulting in a strengthened workflow. Healthcare Information Services, LLC (HIS) offers practice management consulting to work with busy physicians to identify areas of opportunity for improvement within their practice, create actionable initiatives, implement the suggested changes, and create increased value to their patients.  HIS believes in formulating strategies that are unique to your practice, and will work with your practice to ensure they are communicated to your staff clearly and concisely.

As a physician, you are trained to provide medical care for your patients. HIS' medical practice management consulting team is dedicated to facilitating that goal by developing a business plan tailor made for the unique needs of your practice.

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Photo courtesy of Ambro