Business Management - Finance & Benchmarking

Without the critical information you obtain from coordinated financial planning, your practice, day surgery or private hospital is flying blind. After all, when the revenue is rapidly flowing and in good supply, anything is possible. When the flow of money is too small or too slow, everything suffers, including; quality of care, business culture, employee retention, motivation, productivity, and the practice's financial viability.

     finance tree growth.jpg

 

Successful medical practices & facilities create and maintain 'living' budgets, continuous and specific plans for controlling costs, and responsible strategies for allocating expenses. Practice Management International can help you compare your financial performance against standard expectations of other similar medical practices via our customised 'Snap Shot' Financial monthly summary.

 

When the finances are sound, all is achievable; PMI will educate you and your key business workforce personnel with:

  • comprehensive managerial budget creation, projections and assessments
  • cash flow analysis and management
  • evaluation and benchmarking of any expense from workforce and medical provider salaries to equipment and supplies
  • precise month-end report preparation including the 'Snap Shot' summary
  • quarterly financial data review
  • annual "practice at a glance" evaluation
  • training in hospital or practice analysis through quality and business management reporting
  • accounts payable/receivable process management
  • patient balance tracking including business key performance statistics
  • customized collection process
  • fee schedule analysis and group benchmarking
  • analysis of reimbursements from Medicare, and all private health fund contract sources resulting in identification of areas for business improvement
  • health fund contract negotiations

 Business Medicine health check.jpg

 

Web design by Fireworks Websites   Practice Management International © 2012