Welcome to Cornerstone Healthcare Consulting & Management

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Supporting Physicians at Every Stage of Their Journey

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Supporting Physicians at Every Stage of Their Journey

At the heart of our work lies an unwavering mission—to help physicians past, present, and future. Since 2014, our dedication has remained steadfast as we’ve worked hand-in-hand with private practice physicians to preserve their independence, cultivate sustainability, and empower them to thrive in an increasingly challenging healthcare landscape.

Our journey started with helping physicians establish and manage their own medical practices. But what drove us to create our Turnaround Consulting Program? It wasn’t part of some long-term strategic plan. Rather, it was born out of necessity—a response to the voices of physicians exasperated with the pressures placed on private medical practices.

The Catalyst for Change

Over the years, several private practice physicians have reached out to us. They were professionals who had once found stability and financial comfort as partners in large, thriving practices. Yet, change came quickly, and so did the dilemmas. Some faced the prospect of their practice being bought out by health systems, which they didn’t feel aligned with their values. Others struggled with operational policies that clashed with the core ethics of providing patient-focused care.

These conversations made one thing clear—physicians needed support not just to survive but to regain control over their futures. It became obvious to us that private practice physicians were facing an uphill battle, but they didn’t have to fight it alone.

Then, one phone call changed everything. A practice reached out unexpectedly, revealing their financial struggles and asking for help avoiding a sale to a health system. They wanted solutions—answers that would allow them to remain independent. We took on the challenge and thus began our first Turnaround Consulting project.

Transforming Challenges Into Sustainability

That initial client taught us the true potential of what was possible. By analyzing their operations and costs, we successfully saved the practice an astounding $260,000 annually in expenses. This wasn’t just about salvaging their business—it was about giving them the tools to rebuild.

From there, we developed additional services tailored to the needs of private practices:

  • Expense Consulting to address high costs and improve financial efficiency.
  • Medical Practice Marketing to expand patient bases and drive growth in competitive markets.

Each solution was created with one goal in mind—empowering private practice physicians to maintain autonomy and build practices they’re proud of.

Why Private Practices Matter

While we’ve worked across hospitals and health systems, our focus and energy have consistently been devoted to private medical practices. Why? Because private practices are the backbone of patient-first healthcare. They’re where patients develop lasting relationships with their physicians, where care often goes beyond charts and data.

However, they’re also the most vulnerable, often squeezed between rising operational costs, regulatory demands, and the pressures of consolidation. While it’s one of the most difficult areas of healthcare to work in, we know that keeping private practices viable is not just important—it’s essential.

Standing with Physicians—Past, Present, and Future

Over the years, we’ve guided countless physicians through pivotal moments in their careers and businesses. For the physicians of the past, we’ve helped preserve legacies and guide transitions. For those in the present, we’ve focused on sustainability, providing tools and strategies to stabilize operations. And for those preparing to open their own private practices, we’ve been dedicated supporters and strategic partners in their journeys.

Every practice, every physician, and every patient who benefits reminds us why this mission matters so deeply. The stakes are high in private healthcare, but we believe it’s worth every effort.

If you or your practice need guidance, whether it’s managing financial strain or navigating growth, know that we’re here to help. Together, we’ll work toward solutions that not only sustain but empower.

Contact us today to learn more about how we can help.

Exploring Farm-Based Healthcare: A Sustainable Approach to Wellness

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Exploring Farm-Based Healthcare: A Sustainable Approach to Wellness

At Cornerstone Healthcare Consulting and Management, we are always on the lookout for innovative practices that can improve health outcomes and support our rural communities. Recently, we’ve been following the work of Robert F. Kennedy, Jr, the new Secretary of Health and Human Services. One area of his focus that piqued our interest is sustainable farming and its potential to revolutionize healthcare.

Farm-based healthcare, as it’s being referred to, bridges agriculture and medicine in exciting ways. For us, located in a rural community where agriculture reigns as the top industry, this approach feels both relevant and promising. Imagine combining the strength of our community’s farming expertise with healthcare initiatives to create a stronger, healthier population.

What is Farm-Based Healthcare?

Farm-based healthcare is a concept centered on using local agriculture to improve health outcomes. It embraces practices such as sustainable farming, food as medicine, and community-driven agriculture — all tailored to enhance wellness while addressing food insecurity and promoting fresh, nutritious eating habits.

This approach isn’t just theoretical. Across the country, healthcare providers have already started incorporating agriculture into healthcare systems. Hospitals are planting on-site gardens to grow ingredients for healthy meals served to patients and staff. Clinics are prescribing fresh vegetables and fruits as part of treatment plans for chronic illnesses. Experts believe that integrating farming into healthcare systems can address nutrition gaps that often contribute to major health crises like obesity, heart disease, and diabetes.

Innovators in Farm-Based Healthcare

Several trailblazing examples of farm-based healthcare inspire us further.

  • Hospital Gardens: Some hospitals have taken matters into their own hands—literally. They’ve built gardens on hospital grounds and started growing their own produce. Imagine eating a meal in a hospital cafeteria where the salad greens were picked just steps away. This not only ensures optimal freshness but also reduces reliance on long supply chains, benefiting the environment.
  • Farm Prescriptions for Health: There’s a physician in New Jersey pioneering the concept of “food as medicine.” They’re taking an innovative approach to chronic diseases by prescribing fresh vegetables and fruits instead of medications in certain cases. These prescriptions come with resources to help patients learn how to prepare nutritious, balanced meals.
  • Produce-Based Initiatives in Rural Areas: Farmers in rural communities across the nation are partnering with healthcare providers to host farmers’ markets at hospitals and clinics, giving patients access to fresh, local produce. These efforts help bridge the gap between sustainable farming and community health.

Why Farm-Based Healthcare Matters

The relationship between diet and health is undeniable. Sustainable agriculture provides an avenue to supply fresh, nutrient-rich food to those who need it most. For rural areas, where access to fresh produce is sometimes limited, integrating farm-based healthcare practices into hospitals, clinics, and community programs could improve both physical and mental health while fostering economic growth in agriculture.

Some compelling benefits include:

  • Improved Health Outcomes: Nutritious, whole foods grown locally can help lower the risk of chronic diseases and improve overall wellness.
  • Empowered Communities: Supporting local farmers and sustainable agriculture boosts rural economies and strengthens community ties.
  • Environmental Sustainability: Food grown locally in sustainable ways reduces the carbon footprint of healthcare systems by cutting down on long-distance transportation.

How We’re Looking Toward the Future

At Cornerstone Healthcare Consulting and Management, we are truly inspired by these developments. With agriculture at the heart of our community, we see immense potential for adopting farm-based healthcare initiatives. Whether it’s by learning how hospitals can incorporate gardens into their operations or exploring creative ways to encourage food as medicine approaches, we are eager to be part of this movement.

We’re committed to exploring how we can contribute to this vision of healthier communities built on principles of sustainability, nutrition, and collaboration. Could hospitals in rural communities like ours lead the way in making farm-based healthcare a widespread reality? We certainly think so.

If you’re interested in joining us on this journey or learning more about this exciting concept, we’d love to hear from you. Together, we can reimagine healthcare in a way that benefits everyone—from patients to farmers to healthcare providers alike.

Stay tuned for more discussions on how farm-based healthcare practices could shape the future of wellness. And remember, sometimes the road to better health starts right in the garden!

How Much Does It Cost to Start a Medical Practice?

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How Much Does It Cost to Start a Medical Practice?

When thinking about opening your own medical practice, one of the first questions that likely comes to mind is, “How much is this going to cost?” It’s a valid concern, and one we hear often when speaking with prospective clients. The truth is, the answer depends. Starting a medical practice isn’t a one-size-fits-all endeavor, and various factors can significantly impact your initial investment.

Although we can provide a general range, the specifics hinge on decisions like whether you buy or lease your space, the size and location of the practice, the aesthetic choices you make, and the number of staff you hire. Below, we’ll break down some of the major considerations so you can better understand how these elements will shape your budget.

1. Leasing or Buying a Space

The largest portion of your initial investment will typically go toward securing a physical space for your practice.

  • Leasing Costs

If you’re leasing, costs depend heavily on location, size, and the average price per square foot in your area. For instance, setting up a practice in a metropolitan area will be significantly pricier than in a suburban or rural region. Additionally, the size of your space is a crucial factor. A small family practice will cost less per month than a larger space designed for several physicians.

  • Buying Property

If you decide to purchase the property outright, you’ll need a much larger upfront financial commitment. However, owning commercial space can be a long-term investment that builds equity over time.

Estimated Costs

  • Leasing Costs (monthly): $2,000 – $12,000+
  • Buying Costs (one-time): Starting at $200,000, but it varies widely.

2. Construction and Renovation Expenses

Customizing your space comes next. Whether you lease or buy, chances are the property will require some renovations to meet medical standards or fit your practice’s branding and functionality.

  • Basic Renovations: Updating flooring, painting, and adding partitions for rooms.
  • Specialized Additions: Exam tables, medical equipment, sinks in treatment rooms, and waiting areas might bump up costs.
  • Aesthetic Upgrades: Depending on how luxurious you want your practice to look, the interior design, furniture, and custom branding could significantly add to this cost.

Estimated Costs

Renovations and customization can range from $20,000 to $250,000, depending on your extent of work and equipment needs.

3. Furniture, Equipment, and Supplies

Equipping your practice is another hefty line item in the budget. You’ll need to purchase or lease a mix of medical and office equipment.

  • Medical Equipment: Exam tables, stethoscopes, EKG machines, sterilizers, and more.
  • Technology: Computers, EMR (Electronic Medical Records) software, patient management systems, and phones.
  • Office Furniture: Desks, chairs, filing cabinets, and waiting room seating.
  • Day-to-Day Supplies: Gloves, syringes, bandages, medications, and more.

Estimated Costs

  • Medical Equipment and Supplies: $50,000 – $150,000
  • Office & Furniture Costs: $5,000 – $30,000

4. Staffing Costs

Staffing decisions can vary based on your priorities and practice goals.

  • Minimal Staff: Some physicians choose to help with patient check-ins or other administrative work to save costs initially.
  • Full Team at Launch: If you prefer to focus solely on patient care and avoid administrative tasks, you’ll need to hire front-desk staff, medical assistants, and a billing specialist.

Estimated Costs

Staffing costs will vary based on location and roles, but typical monthly payroll expenses start at around $4,000 to $20,000+ per month, inclusive of benefits and taxes.

5. Licensing, Legal Fees, and Insurance

Opening a medical practice comes with regulatory and legal expenses you can’t ignore.

Estimated Costs

These costs typically range from $10,000 to $30,000 annually.

6. Marketing and Branding

To attract new patients, you’ll need to invest in marketing. Key areas might include designing your logo, setting up a professional website, running digital ads, and social media management. Don’t overlook the power of local SEO to help drive traffic from potential patients in your area.

Estimated Costs

  • Initial branding and marketing setup could cost between $5,000 and $15,000, with ongoing costs depending on your growth goals.

7. Miscellaneous Expenses

Finally, don’t forget those smaller but equally important expenses, like utility bills, cleaning services, and software subscriptions to keep your practice running smoothly.

Estimated Costs

Expect an additional $1,000 to $5,000 monthly overhead.

The Bottom Line

When all is said and done, the costs of starting a medical practice can range from $100,000 to $500,000 or more, depending on the factors mentioned above. While that may seem like a significant upfront investment, a well-run medical practice can be a highly rewarding and profitable venture.

Get Professional Guidance

Navigating the process of opening a medical practice doesn’t have to be intimidating. With careful planning and expert advice, you can launch a practice that meets your goals while staying within budget.

Need help refining your plan? Contact us today for personalized guidance in bringing your medical practice vision to life!

 

Maximize Your Medical Practice Success in 2025

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Maximize Your Medical Practice Success in 2025

Looking to maximize your medical practice success? As we step into 2025, the healthcare landscape continues to evolve, and running a successful medical practice has never been more complex. This makes it the perfect time to share what our medical practice consulting services can do for your practice.

With so many healthcare consulting companies across the United States, you’re likely wondering, “What sets us apart?” It’s simple—our focus is entirely on the medical practice level. Whether you’re launching a new practice, managing a growing one, or navigating specific operational challenges, we deliver expert solutions tailored to your unique needs.

What We Offer

We don’t believe in one-size-fits-all approaches because every practice is different. Here’s a closer look at the consulting services we provide:

1. Medical Practice Start-Up

Thinking of starting your own practice? We offer a comprehensive, turnkey solution for new practices. From navigating the intricate legal and regulatory requirements to selecting the right location and building a strong operational foundation, we’re here to get your practice up and running efficiently.

2. Expense Consulting

Every dollar counts in healthcare practices, so managing expenses is critical. Our expense consulting service helps practices reduce their annual costs by as much as six figures. Often, practice managers simply don’t have the time to evaluate every expense or renegotiate vendor contracts. We work with an established network of vendors to find better, more cost-effective solutions tailored to your needs.

3. Insurance Credentialing

Setting up or maintaining insurance credentialing can feel overwhelming, but it’s essential for ensuring your reimbursement process runs smoothly. Our team handles this process with precision, freeing up your time and reducing the headaches often associated with payer relationships.

4. Marketing & Website Redesign

Your practice’s online presence often serves as a first impression for potential patients. If your website is outdated or underperforming, we can help. From redesigning your website to launching social media pages, we ensure your digital presence reflects your practice’s professionalism and helps attract new patients.

5. Specialty Projects & Practice Evaluations

Maybe your practice doesn’t require full management services, but you’ve identified areas needing assistance. Whether it’s workflow optimization, patient retention strategies, or operational audits, our team provides individualized guidance to address specific challenges.

Why Partner with Us?

Your practice manager might have everything under control, but what if they’re stretched thin or unaware of better solutions? Our consulting services are designed to complement your team, offering fresh expertise and freeing up internal resources. With our experience and connections in the healthcare industry, we help practices like yours reach new levels of success.

How Can We Help You in 2025?

Whether you’re looking to tighten expenses, streamline operations, or strengthen patient growth, we’re here to support you. This year, focus on providing exceptional care while we take care of the business.

Contact us today to discuss how our consulting services can bring new opportunities to your medical practice. Together, we can make 2025 your best year yet!

Thinking Outside the Box with Medical Practice Staffing

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Thinking Outside the Box with Medical Practice Staffing

The COVID-19 pandemic has reshaped medical practice staffing and the healthcare landscape in countless ways. One of the most significant challenges facing medical practices today is the ability to secure and retain qualified staff. For those running private practices, this hurdle can feel particularly insurmountable, with the struggle to balance competitive wages, high turnover rates, and limited applicant pools. Sound familiar? You’re not alone. This post explores some innovative staffing approaches that have helped medical practices address these challenges and improve efficiency—all while staying mindful of overhead costs. While there may be no one-size-fits-all solution, adopting a flexible and creative mindset might help unlock new staffing opportunities for your practice.

The Medical Practice Staffing Challenges Since COVID-19

Since the pandemic began, the healthcare sector has faced unprecedented staffing issues:
    • Applicant Shortages: After posting job openings, many practice managers encounter a disappointingly small pool of applicants. For those who do apply and make it to the interview stage, only about half might actually show up.
    • Turnover Concerns: Even after successfully hiring a new staff member, there’s no guarantee they’ll stick around. Practice managers are often left wondering, “Will this staff member actually show up for their first shift?”
    • Competing Wages: Private practices face tough competition when it comes to wages. Hospitals and larger healthcare systems can often offer significantly higher pay, making it difficult for smaller practices to retain talented staff.
These challenges require practice managers and healthcare professionals to think beyond traditional staffing models and explore creative solutions.

Thinking Creatively About Staffing

Given these ongoing difficulties, our approach has been to rethink medical practice staffing and how it is done. By working outside the typical playbook, we’ve uncovered new possibilities for attracting and retaining high-quality hires, with a significant focus on remote opportunities.

The Remote Staffing Advantage

When we opened a job posting for a remote medical biller, the response was astounding—we received hundreds of applications. Inspired by this success, we decided to expand this idea and propose hiring a remote medical receptionist. The result? An equally high response rate. Remote opportunities appeal to a broader range of candidates for several reasons:
    • They remove geographical limitations, allowing you to tap into talent pools outside your local area.
    • Remote work is highly desirable in today’s job market, with many candidates seeking flexibility and work-life balance.
    • Practices can lower overhead costs by avoiding the need for additional space or in-office resources.
These high response rates underscore the appeal of flexible, remote positions within the healthcare field.

Expanding Remote Roles Beyond Receptionists

Recognizing the potential of remote work, we’ve expanded this staffing model to include other essential roles. For instance, we now contract staff members who:
    • Handle prior authorizations with efficiency and consistency.
    • Assist with new patient appointment scheduling while ensuring a smooth process for both patients and the practice.
This approach has led to clear benefits for our clients, including enhanced operational efficiency and reduced burden on in-office staff.

Benefits of Thinking Outside the Box in Staffing

The innovative staffing strategies we’ve implemented have provided noticeable advantages for medical practices:
    1. Improved Efficiency: Remote staff are often highly specialized in their roles, which helps streamline workflows and reduce bottlenecks. For example, outsourced prior authorizations allow in-office staff to focus on patient care.
    1. Higher Applicant Pools: Remote roles attract significantly more applicants than traditional in-office positions, giving practices a wider selection of qualified candidates.
    1. Reduced Overhead: Remote staffing reduces costs associated with workstation setups, office space, and commuting stipends.
    1. Work-Life Flexibility for Staff: Offering remote roles enhances employee satisfaction, helping with both retention and productivity.

Final Thoughts

The staffing challenges brought about by COVID-19 have pushed medical practices to reevaluate their hiring processes. For private practices especially, a shift toward remote work and creative staffing solutions can make a world of difference. When implemented thoughtfully, these strategies can not only attract more candidates but also improve overall practice efficiency and help practices run smoother operations. If you’re still struggling to find and retain qualified staff for your practice, it may be time to think outside the box. Explore opportunities for remote roles, delegate specialized tasks, and seek support from staffing professionals who understand the unique needs of the healthcare industry. By staying flexible and open to change, your practice can meet today’s staffing challenges head-on and provide excellent patient care for years to come.

Turn Your Medical Expertise into Business Success

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Turn Your Medical Expertise into Business Success

Introduction

National Entrepreneurs Day is a time to celebrate innovation, courage, and the drive to change the world for the better. For physician entrepreneurs, it’s an opportunity to reflect on how your medical expertise can extend beyond patient care and into the realm of business and innovation. Whether you’re contemplating starting a medical practice, expanding your current one, or launching a new revenue stream, now is the perfect time to take action.

Are You Ready to Start Your Own Medical Practice?

Starting your own medical practice is a big step, but for many physicians, it represents a chance to practice medicine on their terms, with greater control over their professional and personal lives. Consider these points before you launch your practice:

  • Business Plan: Outline your vision, target market, and financial projections.
  • Business Model: Consider exploring a traditional insurance model or opting for more innovative approaches like Concierge Medicine or Direct Primary Care.
  • Location and Infrastructure: Find the ideal location and ensure it’s equipped with the necessary facilities.
  • Staffing: Hire skilled professionals who share your values and patient care philosophy.

Envisioning Growth for Your Existing Practice

For those with an existing practice, growth might be on your mind. Expanding your services can increase revenue and enhance patient care. Here’s how to start:

  • Evaluate Current Services: Identify services that are most popular or lucrative and consider how they might be expanded.
  • Market Research: Understand what new services or specialties your community needs.
  • Financial Planning: Assess the financial implications and secure funding if necessary.

Diversifying Revenue Streams

Diversifying your practice’s income can stabilize finances and reduce dependency on insurance reimbursements. Consider:

  • Telemedicine: Offer virtual consultations to expand your reach.
  • Wellness Programs: Develop lifestyle programs or classes that focus on prevention and wellness.
  • Retail Offerings: Introduce health-related products that align with your practice’s philosophy.

Take Action This National Entrepreneurs Day

This National Entrepreneurs Day, reflect on the dreams and aspirations you’ve held for your medical career. Are you ready to turn those dreams into reality? Don’t wait another year to take action. Connect with us to discuss your medical startup or practice expansion plans. Our team of experts is ready to provide insights and guidance to help you succeed.

Conclusion

Being a physician entrepreneur requires a unique blend of medical expertise, business acumen, and a passion for innovation. National Entrepreneurs Day is a reminder that the future of healthcare is shaped by courageous individuals like you. Let’s work together to transform your vision into reality.

Contact Us Today to Begin Your Entrepreneurial Journey!