Healthcare professionals rely on Pharus Group for practice management solutions and advice leading to operational efficiency and overall profitability.
Practice Management Services:
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Practice evaluations include overhead expense analysis, personnel evaluations, and credit and collection effectiveness, review of current fee schedules, profit distribution formulas, and assessing the efficiency of appointment systems. In addition, we can value a practice for sale or retirement. Our practice analysts have hands-on practice management experience. Pharus Group can also help you choose the best locations for your practice, design your office, purchase equipment, hire employees, establish fee and credit policies, and plan for your practice growth.
Marketing and public relations is key to a more profitable practice. Physician recruitment, community relationships and patient education recommendations can also be made. From your office magazine rack locations to the way your personnel greet patients, we know the important role public relations plays in your practice.
Routines and procedures can benefit from outside evaluations as well. Accounts receivable, collections, insurance forms processing, and record filing all contribute to overall office efficiency.
Personnel management includes an assessment of your staffing needs, compensation packages, and policies. Pharus Group evaluates efficiency and use of your office staff as well as your need for additional professionals. We can establish job descriptions, determine regular employee evaluations, help lower employee turnover and improve morale.
Growth problems can be addressed before they occur. Our medical practice management solutions consultants can analyze your need for physical expansion, evaluate your public relations, and your relationship with referring doctors.
Office system evaluations can be crucial to your practice. Pharus Group will evaluate your current office technology and make recommendations geared to your specific needs.
Fee analysis includes comparisons on what other professionals charge, and expenses based on your individual practice needs, assistance in the management of office overhead expense, and profit and loss statements. In addition, we'll establish a written fee schedule, offer advice about increasing fees, evaluate rising costs, help your staff explain fees properly to patients and provide information on local and national trends.
Business taxes and insurance can also be reviewed to determine adequacy and cost. Comprehensive insurance evaluations can determine the best type of insurance for your practice and coordinate the coverage with retirement and estate planning objectives.
Controlling expenses can increase your profit and cash flow. Pharus Group will analyze overhead expense and train your personnel to become more cost-conscious. We will offer management solutions to your expense problems, help you control expenses and reduce the frequency of fee increases, review your purchasing procedures and review inventory control.
Group practice analysis is a key consideration for your practice. If you're considering a group practice, or you are already in one, equitable profit distribution is vital.
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