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First Direct Primary Care Practice in Rochester, NY!

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Missy Starowitz, owner of Cornerstone Healthcare Consulting, interviews Dr. Laura Petrescu of Athena Direct Primary Care & Lifestyle Medicine, the first Direct Primary Care (DPC) practice in Rochester, NY! Click on the video below to watch!

Whether you’re a small business owner, a physician in Residency training or someone seeking a new primary care physician, this video is for you. Tune in as Dr. Petrescu answers the following questions:

1.) Tell us about Athena DPC & Lifestyle Medicine

 2.) What is DPC? How is it different from concierge medicine?

3.) What is lifestyle medicine?

4.) What made you decide to open your own practice, using the DPC model?

5.) Are there ways for Athena DPC to work with small businesses?  

Interested to be patient of Dr. Petrescu? Check out her website at athenadirectcare.com where you can also schedule an appointment. Or give the practice a call at 585-662-5510

About Cornerstone Healthcare Consulting & Management: Cornerstone Healthcare Consulting provides multiple consulting services to physicians and medical practices. To learn more or schedule your free consultation, please visit their website at http://www.cornerstonehealthcareconsulting.com

Follow Cornerstone on social media: Instagram: @healthcarecornerstone

Linkedin: https://www. www.linkedin.com/company/cornerstonehealthcareconsulting

Facebook: https://www.facebook.com/cornerstonehealthcareconsulting

First Direct Primary Care Practice in Rochester, NY

Buyout Should Be a Future Plan, Not an Emergency!

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It’s no secret that the healthcare industry is in a state of flux. Many things have led to changes in the way doctors and hospitals do business, and those changes are only going to become more widespread in the coming years. For many physicians, this means that now is the time to start thinking about buyout as a future plan, rather than an emergency measure. In the video embedded below, we’ll explore why buyout should be a key part of your long-term career strategy, and we’ll offer some tips on how to make it happen. So read on – your future may

depend on it!

Succession planning should not become a contentious debate among physician partners; however, at Cornerstone, we have frequently witnessed this happen with multiple medical practices. Sadly, the topic typically goes years of never being discussed, to suddenly coming up because of situations that require emergency planning, and/or junior partners possessing a feeling of being treated unfairly. With respect to the latter, don’t even think about joining a medical practice as a partner unless you’ve had the tough questions answered first. For example, ask about call schedule requirements, how money is dispersed, what happens when a partner begins to plan to retire, such as an OBGYN who discontinues doing OB, etc. Once your questions are answered to your satisfaction, then make sure they are in writing before you sign.

A part of the succession planning discussion should be physician partner buyouts, and how to plan for that. A buyout is not always the result of retirement. The discussion should also be focused on a partner becoming disabled, as well as if the need arose to terminate a partner prior to retirement. When it comes to buyout, there’s no one-size-fits-all answer. The first step is to sit down with your partners and hash out the details. In the video embedded below, we sat with Jim Ginnane and Alex Heringer from Planned Futures Financial to ask them a few questions for how to prepare for buyout. Here are the questions we asked them:

  1. At what point should the owners start exit planning?
  2. What are the different types of buy/sell agreements?
  3. What do you do when the potential successor (s) don’t have sufficient money to buy you out?
  4. What are the usual funding vehicles for buy/sell agreements?

As you can see, succession planning is important for any medical practice. By taking the time to develop a plan and put measures in place to ensure a smooth transition, your practice can survive – even thrive – after you retire or move on. If you are preparing for a buyout, make sure you work with an experienced team of advisors who can help guide you through the process and minimize disruptions to patient care. Want more tips like this? Check out our blog page! Need some guidance? Schedule a consultation today!

Buyout Should Be a Future Plan, Not an Emergency

Reduce Medical Practice Expenses

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Reduce Medical Practice Expenses

Are you struggling to keep your medical practice financially stable? Searching for effective ways to cut costs and boost your bottom line? You’re not alone. In this post, we’ll share our proven strategies to reduce medical practice expenses—including how we helped one practice save an impressive $260,000!

A frequent concern among physicians is the frustrating reality of working harder while earning less. On one hand, declining reimbursements and relentless claim denials from insurance companies are well-known challenges. But what about the other side of the equation? Have you taken a closer look at your practice’s spending—where the money is going and how it’s being used?

When Cornerstone Healthcare Consulting and Management evaluates your practice, one of the first items we request is a detailed expense report from the past 12 months. This report provides valuable insights into areas where you may be overspending, allowing us to identify quick wins for cost savings.

For instance, we prioritize analyzing your medical supply and medical waste expenses. In the case of medical waste, one vendor in particular has a reputation for overcharging medical practices. By addressing this issue, we have helped clients save thousands of dollars on waste management alone.

To illustrate, here’s an example from a former client with two locations. Their original vendor was significantly overcharging for waste services, but after switching to a new vendor, they achieved substantial savings. The comparison below highlights the costs under the previous vendor versus the current one, along with the total savings realized.

This case represented significant cost savings for the client, and while it might seem like an isolated incident, it was far from unique. Time and again, when we encounter this particular vendor, it’s clear the client is overpaying. Many medical practices are simply unaware that alternatives exist. Even when they suspect other vendors might be available, they often have no idea where to begin their search.

Compounding the issue, clients frequently find themselves locked into restrictive contracts, believing there’s no way out. This vendor has even faced a lawsuit in New York for breaching contractual law by failing to notify clients within the required 60 days that their contracts were set to renew. As a result, many practices were unknowingly locked into extended agreements at inflated rates. Thankfully, the lawsuit was resolved in favor of the clients, setting a precedent we’ve successfully used to help other clients break free from these contracts.

We always take a close look at the vendors practices use for their medical supplies, as some are notorious for overcharging. We recommend a preferred medical supply vendor that many physicians aren’t even aware of. In every instance we’ve worked with them, they’ve saved our clients over 20% on supply costs. In some cases, simply switching to this vendor has prompted the previous supplier to suddenly match those lower prices—proof that they were charging more than necessary all along. The problem is, if no one is monitoring year-over-year price increases or exploring alternative vendors, these overcharges go unnoticed, allowing suppliers to continue inflating costs.

Employee benefits present another significant opportunity for cost savings. As highlighted in our previous blog, The One-Stop Shop for Doctors, both retirement and health plans often require careful review and updates. Within the Cornerstone Network, we collaborate with trusted professionals who consistently deliver exceptional results for our clients.

For retirement planning, as well as life and disability insurance, we rely on Planned Futures Financial. Specializing in the medical industry, they’ve proven to be a valuable partner. In one notable case, they saved a client over $40,000 by reducing retirement plan expenses, lowering group disability insurance costs, and eliminating TPA fees.

For health insurance, Azeros Health Plans is our go-to solution. Co-owners Ron Zoeller and Kevin Gannon bring years of experience from running their own companies before founding Azeros together. Beyond optimizing health plans, we also work closely with Azeros on Direct Primary Care initiatives, further streamlining healthcare costs for our clients.

By leveraging these strategic partnerships, we help ensure our clients maximize savings while maintaining top-tier benefits for their teams.

Our primary goal is to help you save money, but we also believe in ensuring you have the right resources to run your practice effectively. If that means recommending a new vendor that might cost a bit more but provides the coverage you truly need, we won’t hesitate to do so. One example of this is your business insurance.

We work closely with Steinmiller Insurance, specialists in medical practice coverage. They have a deep understanding of HIPAA regulations and the critical importance of data protection. When reviewing your current insurance, they may be able to match your coverage and save you money. However, they might also identify gaps in your coverage and recommend adding essential protections. While this could increase costs slightly, it could save you from much larger risks down the road.

When analyzing your expenses, we go beyond just targeting the obvious or the biggest costs. Our approach is comprehensive—we meticulously review every detail, big or small. Beyond providing recommendations, we actively assist in implementing them. From expense analysis and vendor negotiations to executing changes, we’re with you every step of the way. Our experience spans everything from inventory audits and installing new phone systems to transitioning from server-based EMR to cloud-based solutions.

As insurance reimbursements continue to decline, reducing expenses has become a top priority for medical practices. Let us help you streamline your operations and cut costs. Schedule a consultation today, and let’s get started!

Medical Practice Marketing – Getting Started!

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As a physician, you are among the brightest individuals in the country! You have survived years of rigorous schooling and training, learning words most of us cannot even pronounce. But this new era of marketing has got you scratching your head in confusion. From social media to google reviews, and beyond, you don’t even know where to start. Good news! That’s where we come in!

As fellow healthcare professionals, we understand all that you are up against. In addition to providing marketing, we are working with physicians to help them sustain their medical practices; also, we are opening new medical practices, providing practice management support and more. Who better to be the voice for physicians than a company who is living in their world, slaying the same giants? Commonly, physicians will say things such as, “I don’t understand this social media stuff”; or “We never had to worry about marketing until now, we just worked really hard providing great care, and the patients followed”. That was the era prior to Google ads, social media, and private equity backed medical groups. Let’s talk about what that all means.

As a minimum, practices need a decent website, and a social media presence. That’s assuming you have a practice name and are not just using your legal name. It may sound silly to say that, but we had a client who never had a name beyond their legal name that used their last names. They sounded more like an accounting or law firm. Prior to retaining Cornerstone Healthcare Consulting, they retained a well-known, expensive marketing agency, with the intention of identifying a name and a brand. That consulting agency charged them $15,000 but never provided them a name they liked. So, the marketing agency made out quite nicely, and the practice walked away with $15,000 less in their bank and no name. When Cornerstone came on board, we ran a contest among the staff, allowing them to propose a name they thought the practice should adopt. Upon review of the staff suggestions, they ended up selecting one of them as the new practice name, without paying $15,000. From there, we were able to coordinate the design of a practice logo, website, social media, and more.

Most of the time, physicians recognize the need for a good website. They realize a website is the present-day version of the yellow pages. However, they don’t always grasp the importance of social media. Why is social media important? This is where potential patients are! When patients need a new physician, the first places they are likely going to are Google, and possibly Facebook. On Google they are checking out your reviews, and on Facebook, they are reviewing your photos to get a sense of who you are, what the environment is like, etc. Beyond that, content is king! While we are all looking for the quick easy fix to increase our website search engine optimization (SEO), it is often the same laundry list of tasks that need to be done to be successful in that endeavor, with one of the items on the list being content creation.

It’s not just potential patients who are reviewing your social media accounts, but also potential employees. Like potential patients, potential employees are checking out your Facebook pictures, attempting to gain a sense of what the environment is like, if the staff look friendly, etc. The social media pages can say a lot about the practice. One of the ways Cornerstone seeks to be different, is we shy away from boring “corporate-like” posts that have the look of desperation for just putting content out. We take pride in being personable, promoting the physicians and staff, and the amazing things they are doing. Also, because of our healthcare background, we actually have some knowledge for what we are promoting. This is especially useful when generating blogs, and how certain topics may create more patient questions than answers. Understanding the practice operations significantly helps as well. It allows us to consider how the marketing will impact the staff answering the phones, and other practice logistics. And let’s not forget about HIPAA! Yes, we are well informed of those laws, abiding by them regarding patient photos, information, etc. Working with a marketing agency that does not understand these laws can leave a practice vulnerable.

 We understand it is a big jump for most practices to agree to launch social media pages. The big question they often have is which pages are needed to get started. There are many ways to answer this question, such as based on specialty, target market, etc. First and foremost, a Google Business page is a necessity. If you want to keep it simple, a Facebook page is a great start. If your practice isn’t quite ready to spend the money on a marketing agency, there are lots of resources that are easy to use, and either very affordable, or even free. A few examples of these resources are as follows:

Canva – Allows you to create attractive content. There is both a free version, as well as a very affordable Pro version. There are already custom sized templates available per the size requirements of the social media platform you are posting on.

InShot and CapCut – Video editing apps for your phone that are very easy to navigate. CapCut even has a shortcut version that designs videos using the content you populate it with. Like Canva, they offer both a free version, as well as very affordable pro versions.

Hootsuite – Looking for efficiency, with the ability to post the same content across multiple platforms? Hootsuite is a great option. The free version allows you to add up to three of your social media platforms.

Later.com – When browsing Instagram, you may have seen the Link in Bio feature. To add this feature, you can do so for free on Later.com. Like Hootsuite, you can schedule and publish social media posts from this one location. Their free version offers up to 15 social media platforms.

MailChimp – In need of something to help you with email marketing? MailChimp provides a free version that allows you to have up to 2,000 contacts.  

Many of the above resources can integrate with other programs. MailChimp, for example, can integrate with Facebook, as well as Survey Monkey, who you may be using for your patient satisfaction surveys. If that all still sounds way too confusing, and you just want to outsource your marketing, give Cornerstone a call! We will work with you on a plan that complements your practice in all the best ways possible, including affordability.

Lastly, once medical practices make the decision to develop a marketing program, they tend to get a bit overzealous and want us to dive into everything immediately. While we love and respect your enthusiasm, you will hear us recite the need to first form a foundation for which we can build from. Marketing isn’t the only service we recite the need for a foundation. In fact, I think we recite that for all our service lines, because we think it’s that important. With respect to marketing, it must start with a website, then social media, so on and so forth. Google ads for example, can be very effective, but without an established website, you are limiting the effectiveness. In addition to Google ads, once the foundation is laid, we can work on patient satisfaction programs, physician referral programs, and more. Interested to learn more about how Cornerstone Healthcare Consulting can help you with your marketing needs? Click HERE to schedule a consult!

Medical Practice Marketing

The One-Stop Shop for Doctors!

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The One-Stop Shop for Doctors

With extensive experience consulting for doctors and medical practices, Cornerstone Healthcare Consulting and Management has built a trusted network of esteemed business professionals. Through our work, we’ve identified recurring challenges that many practices encounter, particularly in the areas of employee benefits and human resources. Beyond practice-level concerns, we often discover individual challenges faced by physicians, such as insufficient retirement planning or a complete lack of strategy. By partnering with exceptional experts, we deliver customized solutions designed to support both the operational needs of practices and the personal goals of physicians.

We proudly call ourselves the “One-Stop Shop for Doctors.” As a physician-focused healthcare consulting company, our mission is to provide tailored solutions for doctors, whether they are solo practitioners, part of a group, or practice owners. We specialize in addressing their unique needs, from managing social media and building a strong personal brand as a hospital employee to launching a new practice or revitalizing an existing one.

For every challenge, we bring expertise and dedication. And in areas where additional specialized skills are needed, we collaborate with top professionals within our trusted Cornerstone Network to ensure comprehensive, high-quality solutions. Whatever the scenario, we’re here to support physicians every step of the way.

When consulting for medical practices, we often find that employee benefits are an area in dire need of improvement. Two major categories where significant savings can be achieved are retirement plans and health plans.

In many cases, practices establish broker relationships for these benefits years earlier and then leave them unchecked. Over time, these brokers continue to earn commissions while offering little to no added value. Health plan premiums steadily increase each year, and many practices simply accept these hikes as inevitable. Meanwhile, retirement plans often go unnoticed, with practices unaware of the high percentage rates they’re paying, the performance of their investments, or the hidden fees involved.

At Cornerstone, our healthcare consulting services include a thorough review of employee benefits, and the results often leave practice owners stunned. We’ve uncovered retirement plans with fees exceeding 2%, excessive TPA costs, and inappropriate employee charges. For example, we recently helped one private practice save nearly $40,000 on their retirement plan alone.

By taking a closer look at these critical areas, practices can unlock substantial savings while providing better benefits for their employees.

When evaluating practice health plans, simply opting for the cheapest option might seem convenient, but it doesn’t truly address the needs of the practice. Instead, we take a comprehensive approach, analyzing the practice’s size and exploring opportunities that align with its unique circumstances. For instance, we worked with a practice in New York that was large enough to transition to a partially self-funded model. This strategic shift was projected to save them up to $30,000 in just the first year. Over time, as they gained a clearer understanding of their annual expenditures, they were able to take on more calculated risks, unlocking even greater savings.

At Cornerstone, we partner with Planned Futures Financial to address retirement plans for medical practices. Beyond retirement planning, we also evaluate a practice’s Group Life and Disability Insurance and assess whether a buy-sell insurance policy is in place. Surprisingly, many practice owners are unfamiliar with buy-sell insurance and, upon learning its purpose, often regret not initiating a policy sooner. While buy-sell insurance is crucial, it’s important to establish a clear succession plan before purchasing a policy.

Unfortunately, succession planning is a topic many practices avoid, often leading to contentious discussions down the line. For physicians considering partnership in a medical practice, one of the most valuable pieces of advice we can offer is to ensure that a robust succession plan is in place from the outset.

Each medical specialty brings its own considerations. For instance, in OBGYN practices, it’s essential to determine how partners are financially handled once they stop performing obstetrics. These important conversations, if delayed, often lead to conflict, so addressing them early is key.

Need support navigating these critical discussions? We can connect you with experienced healthcare attorneys to guide the process and ensure your practice’s long-term success.

When reviewing employee benefits, it’s crucial to take a comprehensive look at your human resources department as a whole. Far too often, we encounter practices operating without proper job descriptions for staff, or relying on outdated, paper-based descriptions that haven’t been revised in over a decade. If job descriptions are missing or obsolete, it’s likely that the employee benefits manual is also outdated—or doesn’t exist at all.

It’s surprising how frequently we see practices hiring staff without a clear job description or an employee manual. This lack of structure not only creates accountability issues but also leaves the organization vulnerable. Unsurprisingly, these situations often lead to workplaces plagued by toxic employees, who contribute significantly to operational challenges. Without established processes for addressing misconduct or managing termination, these problems escalate unchecked.

When was the last time your medical practice got a check-up? A simple review of your expense report could save you thousands of dollars. Perhaps your practice is thriving, but you’re unsure if your personal retirement plan is optimized or if you have adequate disability insurance. Maybe your operations are running smoothly, but you’re struggling to navigate social media marketing. Or you could be a hospital-employed physician looking to maintain your personal brand and improve how you market yourself. Whatever your needs, we’re here to help! Visit our website to explore our healthcare consulting services and schedule a consultation today.

Cornerstone and Azeros Introduce Health Plan Innovation

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BUFFALO, NY, November 18, 2021- Cornerstone Healthcare Consulting and Azeros Health Plans intend to bring change to Western New York healthcare delivery and funding. “Our goal is not to do what is easy,” says Melissa (Missy) Starowitz, Owner of Cornerstone. “We will do what is necessary for the employer community that to date has been ill-served by the healthcare infrastructure.” 

Azeros designs health plans that provide quality care and lower costs to employers. Cornerstone provides consulting and marketing services to medical professionals and practices. Combining their collective backgrounds, the companies have teamed up to introduce the region to Direct Primary Care (DPC) supported by an Exclusive Provider Organization (EPO).

The EPO model provides physicians an independence from the “Mother – May I?” oversight of health insurers and the outdated fee-for-service medicine that complicates billing and payment.  Under the DPC model, new clinics offer employees experience greater access to primary care at a fixed monthly payment and zero co-pays for the care. When combined with an international specialty pharmacy program, employers save 20% off current costs.

Mrs. Starowitz formerly owned urgent care centers and developed tailored programs such as college student telemedicine and occupational health combined with on-site health centers.    

Azeros CEO Ron Zoeller was the founder and CEO of North American Health Plans in 1983, which administered self-funded plans for over 400 groups and 400,000 members, paying $2 billion in annual claims. Azeros partner Kevin Gannon, an employee benefits broker over 35 years, was the founder/President of Niagara Benefits Group and later led the growth of M & T Benefits Agency.

While building the Western New York EPO, the companies will introduce employers to Direct Primary Care vendors PeopleOne Health and Everside Health. The DPC converts an existing medical facility or builds a new clinic at their expense.

The EPO is not exclusive to primary care providers or those operating with a DPC model. The EPO network extends a much-needed opportunity to all physician specialty types by offering them independence, visit capacity and cost control. Cornerstone and Azeros are excited to share this model with the physicians and employers of Western New York.

About Cornerstone Healthcare Consulting and Management

Cornerstone Healthcare Consulting is a physician-centric company with the experience, expertise, and resources to assist physicians in many aspects of their professional lives. They offer an array of services for individual physicians or entire practices including marketing and branding needs, sustainable organizational change, and opening new practices. For more information visit their website at cornerstonehealthcareconsulting.com

About Azeros Health Plans, LLC

Azeros Health Plans is the only Managing General Administrator in the self-funded insured health plan industry. They provide employers with transparency and plans that significantly reduce their costs, as well as offer an international pharmacy benefits program to help employers save on prescription drug costs. For more information visit their website at azeros1.com

Contact

Cornerstone: Melissa (Missy) Starowitz, mstarowitz@cm-hi.com, 585.409.7624

Azeros: Kevin Gannon, k.gannon@azeros1.com, 716.913.4789

Cornerstone and Azeros Introduce Health Plan Innovation