Welcome to Cornerstone Healthcare Consulting & Management

#medicalpractice

Thinking Outside the Box with Medical Practice Staffing

by

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

by

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!

Healing on Two Fronts: Physicians Who Served in the Military and Transformed Medicine

by

Healing on Two Fronts: Physicians Who Served in the Military and Transformed Medicine

For many, the call to serve is twofold—to their country and their fellow human beings. This dual dedication is exemplified by a group of remarkable individuals who have not only served in the military but have also made significant contributions to the field of medicine. This blog post explores the legacy of a few of these physicians, celebrating their impact on both military and medical history.

The Intersection of Service and Medicine

Physicians who served in the military hold a unique perspective, having experienced the rigors of military service and the demands of medical practice. Their dual roles have equipped them with unparalleled skills in leadership, resilience, and innovation—qualities that have enabled them to make groundbreaking advancements in medicine.

1. Dr. Walter Reed (1851–1902)

A pioneer in military medicine, Dr. Walter Reed is best known for his work during the Spanish-American War. Serving as a U.S. Army physician, he led the team that confirmed the theory that yellow fever is transmitted by mosquitoes. Reed’s discovery paved the way for vector control and vaccination strategies that saved countless lives, transforming public health practices in tropical regions.

2. Dr. Michael E. DeBakey (1908–2008)

Renowned cardiovascular surgeon Dr. Michael E. DeBakey’s contributions extend far beyond the operating room. Serving in the U.S. Army during World War II, DeBakey’s innovations in vascular surgery and his work on the Mobile Army Surgical Hospital (M.A.S.H.) concept significantly improved battlefield medical care. His contributions laid the groundwork for modern trauma surgery and surgical techniques still used today.

3. Dr. G. Keith Hulsey (1920–2001)

Dr. G. Keith Hulsey’s service in the U.S. Navy during World War II and his subsequent career in anesthesiology led to significant advancements in pain management and anesthetic techniques. He was instrumental in developing protocols for safer, more effective pain management in surgical procedures, greatly enhancing patient recovery and comfort.

4. Dr. William P. Magee Jr. (b. 1944)

Plastic and reconstructive surgeon Dr. William P. Magee Jr., a veteran of the U.S. Navy, is the co-founder of Operation Smile, an international medical charity that provides free cleft lip and palate surgeries. His commitment to serving children across the globe has transformed the lives of thousands and inspired a new generation of medical volunteers.

5. Dr. Sylvester “Jim” Ward (b. 1941)

A pivotal figure in the field of aerospace medicine, Dr. Sylvester “Jim” Ward served in the U.S. Air Force and was instrumental in developing medical protocols for astronauts. His work ensured the safety and health of those embarking on missions beyond our planet, contributing vital knowledge to the nascent field of space medicine.

The Lasting Legacy of Military Physician Veterans

These physicians exemplify the profound impact of military service on medical innovation and practice. Their contributions reflect a commitment to the betterment of humanity, whether on the battlefield or in the hospital. By harnessing their experiences in the armed forces, these medical pioneers have advanced the frontiers of medicine, leaving a lasting legacy that continues to benefit generations.

For veterans, medical professionals, and history enthusiasts alike, the stories of these physician veterans are a testament to the power of dedication, expertise, and service. They remind us that the intersection of military and medical service can lead to extraordinary advancements that forever alter the course of history. As we honor and commemorate these individuals, let us also recognize the countless others who have served and continue to serve in both the military and medical fields, selflessly dedicating themselves to protecting and healing our communities. So as we celebrate our veterans, let us also acknowledge their contributions to medicine and thank them for their unwavering commitment to improving the well-being of humanity.

Does Your Medical Practice Need a Check-Up?

by

Does Your Medical Practice Need a Check-Up?

Healthcare professionals understand the importance of regular check-ups for their patients. These routine assessments help catch potential issues early, allowing for timely interventions and better health outcomes. But when was the last time you gave your medical practice a thorough check-up?

The Importance of Regular Practice Check-Ups

Running a successful medical practice involves much more than providing excellent patient care. It requires a keen awareness of various operational aspects, from financial management to marketing. Regularly assessing these areas can help ensure that your practice is not only surviving but thriving.

How Well is Your Practice Performing?

It’s easy to fall into the trap of assuming everything is fine without concrete data to back it up. Do you have a clear understanding of your practice’s performance, or are you just guessing? Much like a patient needs their annual exam and blood work, your practice requires a comprehensive evaluation to ensure it’s in good health.

What Does a Practice Check-Up Involve?

At Cornerstone Healthcare Consulting and Management, we offer tailored check-up packages designed to provide a holistic view of your practice’s health. Here’s what we typically examine:

  • Expenses: Are you overspending in certain areas? We analyze your expenditure to find cost-saving opportunities.
  • Medical Billing: Efficient billing is crucial for maintaining cash flow. We review your processes to minimize errors and delays in payment.
  • Marketing: How effective are your current marketing strategies? We help identify ways to improve patient acquisition and retention.
  • Website: Your website is often the first impression potential patients have of your practice. We assess its functionality, design, and SEO performance.
  • Policies and Procedures: Well-crafted policies and procedures are vital for smooth operations. We ensure they align with industry best practices and compliance requirements.

Custom Packages to Suit Your Needs

Every practice is unique, so we offer a variety of packages to meet different needs. Whether you’re looking for a comprehensive assessment or a focused review of specific areas, we have options that can be tailored to your practice’s requirements.

Take Action Today

Don’t wait until issues arise to evaluate your practice’s health. Regular check-ups allow you to proactively identify areas for improvement and implement changes before they impact your bottom line.

Ready to ensure your practice is in peak condition? Schedule your practice check-up today and take the first step towards optimizing your operations for success.

Helping Medical Practices Remain Sustainable

by

Helping Medical Practices Remain Sustainable

In an era of constant change and increasing financial pressure, many private medical practices find themselves at a crossroads. The decision to sell to a health system or private equity firm often looms large, promising relief but at the cost of autonomy. However, for those practices determined to maintain their independence, navigating the path to long-term sustainability can be particularly challenging but not impossible.

The Pressure to Sell

Private medical practices face a myriad of pressures that drive the inclination to sell. From rising operational costs to the complexities of healthcare regulations, the difficulties can seem insurmountable. Yet, the desire to retain control over their practice and continue delivering patient-centered care keeps many practices from selling out.

The Struggle for Autonomy

Choosing not to sell means taking on greater hurdles to ensure the practice remains viable and competitive. This is where turnaround consulting services come into play. We specialize in helping medical practices that recognize their unsustainability but are resolute in their decision to remain autonomous.

Comprehensive Practice Review

Our approach begins with a thorough review of every aspect of the practice. This includes:

  • Financial Analysis: We scrutinize financial records to identify areas of inefficiency and potential savings.
  • Staffing Evaluation: We assess staffing levels and roles to ensure the practice is neither overstaffed nor understaffed, but optimally staffed for efficiency and effectiveness.
  • Technology Assessment: We review the technology in use, recommending upgrades or new solutions to enhance productivity and patient care.
  • Billing and Collections: We analyze billing procedures to improve accuracy and efficiency, thus boosting revenue cycles.
  • Operational Processes: We look at the overall operations of the practice to streamline workflows and reduce waste.

Tailored Recommendations

Upon completing our comprehensive review, we provide tailored recommendations for improvement. These recommendations are designed to address the unique challenges faced by the practice and to pave the way for long-term sustainability.

Execution Support

Identifying problems and suggesting solutions is only part of our service. If preferred, we also offer our expertise in executing the necessary changes. We work alongside the practice, ensuring that improvements are implemented effectively and efficiently, leading to tangible results.

Common Problems and Solutions

Many practices we’ve helped share similar challenges. Some of the most common issues include:

  • High Expenses: Unnecessary costs can drain resources. We help practices identify and eliminate wasteful expenditures.
  • Overstaffing: More staff does not always mean better service. We optimize staffing levels to balance cost and quality of care.
  • Outdated Technology: Using outdated technology hampers efficiency and patient satisfaction. We recommend and help implement modern solutions.
  • Inefficient Billing: Errors in billing can lead to lost revenue. We streamline billing processes to enhance accuracy and speed up collections.

If you don’t require a review of all the mentioned areas, that’s perfectly fine. We can create a proposal tailored to any specific aspect of your practice that you would like us to concentrate on. For instance, some practices may choose to focus solely on expense reviews. There is no one-size-fits-all solution; we customize our approach to meet the unique needs of your practice.

Conclusion

Maintaining autonomy while ensuring sustainability is a delicate balance for private medical practices. With our turnaround consulting services, we provide the support and expertise needed to overcome these hurdles. By reviewing every aspect of your practice and offering tailored recommendations, we help you remain independent and thrive in the competitive healthcare landscape.

If you’re a healthcare professional, practice manager, or doctor looking to keep your practice sustainable and independent, contact us today to learn more about how we can help. Together, we can build a future where your practice remains a beacon of patient-centered care and operational excellence.

 

Are You Ready to Solve Your Medical Practice Challenges?

by

Are You Ready to Solve Your Medical Practice Challenges?

Every day, medical practices face a multitude of challenges—financial pressures, patient overload, and burnout are just a few of the obstacles that can hinder your practice’s success. But what if there were effective solutions to these problems? Are you willing to take that next step towards improvement?

At Cornerstone, we understand the unique struggles that healthcare professionals encounter. We believe that instead of merely complaining about these issues, it’s time to take action. Here’s how we can help you transform your practice.

Common Problems Faced by Medical Practices

1. Financial Strain

Many medical practices struggle to maintain profitability. You might find that despite hard work and long hours, revenue isn’t meeting expectations. This could stem from unmonitored expenses, inefficient billing practices, or inadequate patient engagement.

Our Solution:

Cornerstone offers a thorough evaluation of your practice’s expenses to identify areas where you can save money. We usually identify annual savings of at least $25,000, with findings reaching as high as $260,000! If you suspect that the issue lies within your billing, we can examine it to identify any potential problems. Following that, we can provide guidance to your billing team for a more effective approach.

2. Patient Overload and Burnout

The increasing patient load can leave healthcare practitioners feeling overwhelmed. The pressure to see more patients often leads to burnout, impacting both your well-being and the quality of care you provide.

Our Solution:

Have you considered a Direct Care model? This approach allows you to build more meaningful relationships with your patients while managing your workload effectively. We can guide you through implementing this model, helping to reduce burnout and enhance patient satisfaction.

3. Inefficient Operations

Many practices suffer from outdated processes and technology that slow down operations. This inefficiency can lead to frustrated staff and dissatisfied patients.

Our Solution:

With our expertise, we can assess your current operational practices and recommend solutions that improve efficiency. From implementing modern electronic health record (EHR) systems to streamlining patient communication, we enable you to run a smoother operation.

The Next Step Is Yours

Deciding whether to address the challenges your practice faces is crucial. You can choose to continue the cycle of complaints and stress, or you can take the courageous step toward change. Cornerstone is dedicated to helping you implement effective solutions tailored to your unique practice needs.

Don’t wait for the problems to escalate. Contact us today to learn how we can assist you in improving your practice’s financial health, reducing your patient load, and optimizing your operations. Together, we can create a sustainable future for your medical practice.

Take charge of your practice’s destiny today!