Physician Practice Management

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As the cost of healthcare escalates, physician organizations have come under increasing pressure from hospitals, payers, and market competition. Business as usual will not ensure the long term viability of the organization; creation and execution of a well-defined strategy are essential to success. Some of the questions facing physician organizations today include:

  • How do we grow our margins?
  • How do we expand our funding base to keep up with present and future needs for the primary care physicians and the specialists?
  • What changes do we need to make to our governance and our structure?
  • How do we strengthen our market position?
  • How do we develop potential alliances/partnerships with other physician practices and/or hospitals to strengthen our organization?
  • How do we create business process infrastructures to enhance high quality and efficient patient care?
  • What needs to be done in our community to recruit the best and brightest high quality physicians?

How do you answer these? What is the role of the board vs. executive leadership in defining the answers? How do you build a strong consensus within your organization?

How Thomas Group Can Help

Thomas Group has 30 years of experience building collaborative frameworks and facilitating deep discussion of the most challenging questions and issues to help bring organizations to consensus. But we are not the typical strategy consultancy. Having answered the tough questions and defined a viable strategy, your organization still faces significant challenges with execution. We will work with your physician practice to:

  • Review by specialty, visits per provider per day, procedures per provider per day, monthly average charges, monthly average collections, and office staff per physician, plus any PAs or NPs in the practice, office size, physician compensation, and relative value units (RVUs). We will also benchmark results against industry standards.
  • Implement organizational and structural changes within a Comprehensive Process Improvement framework. We will create cross-functional/multi-disciplinary teams and problem-solving processes to improve outcomes.
  • Create a culture of quality, characterized by improved patient, physician, and employee satisfaction and hospital-physician relations.

Thomas Group enables physician organizations to achieve their full potential in today’s competitive environment. We know how to make a physician’s office more efficient and effective and improve patient satisfaction, by measuring their production by relative value unit.

Our highly skilled team of management experts will work side-by-side with your practice manager(s) and staff to bring the practice to a totally new level of care and performance. Our experts will help develop a motivated, highly effective staff. This gives providers the freedom to concentrate on the delivery of quality care. It enables practice managers to increase revenue, decrease expenses, improve quality of care for patients, and boost job satisfaction for themselves and their staff.

Our mission is to deliver dramatically improved operating results by helping our clients achieve the cultural change and process improvements required to become market leaders and maintain a competitive edge.