Medical Practice Operational Assessments are used to:

• Reduce Operating Overhead
• Identify areas of potential Cost Savings and Profits
• Pinpoint strengths and weaknesses of the practice
• Set and maximize staff productivity
• Streamline the organization to achieve optimal decision making and profitability
• Prepare the practice for the impact of capitation contracts

Strategic Business Development

To maximize success, physicians must offer Managed Care companies appropriate inducements. Usually, providers with the largest Provider Footprint succeed in contracting opportunities. This allows for the orderly replacement of patients who have left the practice, and expansion of the practice in order to maintain and enhance profitability. We assist physicians evaluate:

• Consolidation with other practices
• Acquisition of other practices
• Expansion to additional practice sites
• IPA formation
• Strategies that enhance economic success

Medical Practice Appraisals

Our Practice Appraisal and Valuations define and justify economic value. This is an essential element in any successful transaction in which a professional practice changes ownership. Appraisals are also used as the basis for buy-in of new associates, buy-out of retiring partners, the merger or consolidation of two or more practices, the charitable donation of a practice, or the division of community property.

Our method includes a site visit to the practice, interview with the physician-owner and other key personnel, and review of the practice’s financial, operating, and demographic data.

This information is analyzed within the context of the local medical community, and is synthesized to create a document that describes the practice and its value. IRS-approved methods are used, with all conclusions documented by definitive supporting data. The Appraisal assures all parties of an objective basis on which to begin their negotiations.

Medical Practice Merger Acquistions & Sales

Arthur S. Shorr & Associates, Inc. has successfully consulted to both Buyers and Sellers in the complex tasks of buying, selling, or consolidating medical practices. Starting with a comprehensive Operational Assessment/Practice Appraisal, a detailed analysis of the practice is developed that is suitable for bank financing, probate, partnership valuation, merger, or sale. Market value is determined by analyzing potential growth, changes in reimbursement regulations, and understanding the dynamic impact of managed care and prospective reimbursement.

Our services include:

• Discovery and identification of practices available for sale
• Discovery and identification of potential buyers
• Medical practice valuation and appraisal
• Negotiation of price, terms and conditions
• Practice transition and Succession Planning

Medicare Compliance Planning & Audits

The Health Insurance Portability Act of 1996 provides funding for Medicare’s fiscal intermediaries to carry out increased audits of physicians’ Part B billings.  The Compliance Program for Individual and Small Group Physician Practices, developed by the Office of the Inspector General (OIG) requires that physicians:

• Designate a Medicare Compliance Officer
• Develop a Compliance Policy & Procedure Manual
• Implement a Compliance Plan
• Provide Documentation to Support Billing Submitted to Medicare
• Provide Education & Training to Employees about Compliance Requirements
• Use Audits to Monitor Compliance

Working with our experienced nursing associates, we provide complete Compliance Planning services, including chart documentation and billing review, ongoing audits, staff training, and development of policies, procedures, and a Compliance Plan structured to meet the OIG requirements.