MEDICAL

Existing medical practice

You went to medical school and beyond with the desire to help patients. But the reality is that you’re running a small business with increasing financial pressures from insurance companies and the government, along with rising costs of doing business. Like using a compass to keep from being lost in the woods, GPP offers benchmarking information that provides you with ways to compare your practice with standards for your specific area.

Armed with this information, you can set expectations and objectives for the efficiency and profitability of your practice. We’ll give your practice a “physical” – taking a look to assure that you are:

• Generating profitable revenue

• Optimizing the back office

• Minimizing costs

• Maximizing cash flow

We analyze aspects of your practice such as:

• Organizational structure

• Accounts receivable and payable

• Work flow

• Staff training

• Billing and collection procedures

• Internal controls

• Compliance

As a result, you’ll have a picture of your practice’s strengths and areas of opportunity. We’ll recommend an action plan reflecting ways to enhance revenue and improve your profitability.

Read more about how we specifically work with established medical practices.

Start-up medical practice

If you are starting a new practice right out of medical school or breaking off from an existing group, we have seasoned professionals that can work through the details with you.

The procedures for the establishment of a new practice can make or break your profitability as a business. We’ll help guide you through the potential pitfalls that can harm your practice. Areas where we offer help include:

• Selecting the entity type, such as corporation or partnership

• Assisting in obtaining start-up finance

• Aiding in lease vs. buy decisions: office space and build-out

• Creating compliant systems, policies and procedures for medical records

• Assisting in appropriate billing and collections services

• Guiding in selecting optimal software

• Establishing professional fee schedules

• Developing marketing plans

Read more about how we specifically work with start-up medical practices.