Surgery Practice Profitability Issues

How to Increase Profits
Client

Dr. H

Challenge

To increase profitability of his clinic.

Market

Los Angeles, Suburban, Vascular Surgery

Dr. H: Vascular Surgeon Practice in suburbs of Los Angeles

A wonderful and kind surgeon seeking to add additional surgeons. However, struggling to make ends meet in a busy practice. The practice accepts most insurances and his reputation is spotless in the community. His calendar is mostly full. Yet, his profits do not reflect his skills or the number of surgeries performed in a year.

Categories
  • Vascular Surgery

Consulting strategy

A Surgeon should be making more than what was being reflected

Review Entire Billing/Coding Process

Surgical practice have complex billing and relationships with hospitals. It was necessary to have a good understanding of how billing was being done.

Review Coding/Billing

Review billing processes in details and match with the accounting statements.

Understand Practice Management

Deep-down review of billing and handling of claims. Analysis of denials and rejections and bank deposits.

Results

Profitability should increase Five Times. Recommendations made for changes to billing process, new cloud based PM software, tracking of denials, money deposits, as well as better collection from patients up-front.