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Making Private Medical Practices Sustainable

July 17, 2021 by wpcornerstone

In today’s world of big corporate health care systems, private medical practices are a space for patients who want a different experience and physicians who do not want to work in a big system structure. Private medical practices often face sustainability issues, many physicians find themselves looking at the possibility of selling or ceasing operations. Melissa Starowitz, the founder of Cornerstone Healthcare Consulting and Management, is an expert in healthcare administration and management, specializing in guiding private physician practices into a more sustainable future, increasing business and quality of patient care.

Starowitz has a long history of successfully running multiple practices of her own and was offering telemedicine well before the COVID-19 pandemic made it so popular. Now, she is working to help private practice physicians turn their business around with her unique and highly effective turnaround consulting method. Her goal is to keep private practices in business and allow practitioners to focus on their area of expertise, treating patients.

Starowitz‘s approach is distinctly different than most, setting her apart from other healthcare management consultants. Most consultants come in, review the practice, identify problem areas, develop a plan to address them, then leave. Starowitz explains that she takes a whole-picture approach, she is not just going to give a practice a once over and some suggestions. Instead, she conducts a thorough, very in-depth examination of the business, getting into the details about literally everything to gain a full perspective of how the business operates, and where things can be improved. Her goal is to reduce both operating costs and overhead, once she is done identifying areas and methods of improvement, she sticks around to implement them.

Starowitz focuses on areas that are often overlooked when practitioners are trying to figure out why their business is not sustainable. Part of the process is in-depth, confidential interviews with every member of the staff, and determining if personnel are in the right positions for their education and skills. It is often the case that someone who may not have the right skill set is making decisions about things like benefits packages, vendors, supply chain contracts, and more that end up costing the practice money. Starowitz goes through the practice top to bottom with a fine-tooth comb, then develops a detailed plan, specific to that practice’s needs, to move forward.

One of the areas that showcases Starowitz as a changemaker is that she is willing to do whatever it takes to help a private practice turn around its business and has the skills to back it up. She will do everything from implementing websites and marketing, doing social media, rebranding, engaging the staff, and more. A big part of the work is improving outdated technology, Starowitz is hands-on, she will install phone systems herself if need be!

Starowitz is passionate about high-quality medical care and is a shining example of an independent woman in business. She always had an entrepreneurial mindset, starting a lawn mowing business in college to support herself. Originally, she planned to study clinical medicine, eventually realizing her skills were better placed in management, where she made her passion for providing the best possible care for patients come to life. As an only parent to her young son, Starowitz is an amazing example of a driven businesswoman who has made her mark, building a business to meet her own needs as well as those of her clients. Learn more about Starowitz and her impressive model of turnaround consulting on her website, and connect with her on LinkedIn and Facebook!

Making Private Medical Practices Sustainable

Filed Under: News Tagged With: #doctor, #healthcareconsulting, #medicalpractice, #medicalpracticemanagement, #turnaroundconsulting

New Physicians Choosing Private Practice Again

July 16, 2021 by wpcornerstone

As the workforce evolves and younger generations are entering into the mix, there has been a big push for independence and working for oneself. This is true in every industry, and especially so in the healthcare world. Many younger physicians and medical specialists are looking for options involving private practices, not wanting to be tied down or restricted by big hospitals and healthcare systems.

Melissa Starowitz, Founder of Cornerstone Healthcare Consulting and Management, specializes in helping practitioners make the jump into private practice and expects to see a lot more of them popping up in the next few years. This is in part due to patterns she sees that resemble what happened a few decades ago, and due to the business and healthcare management environment of today.

As Starowitz explains, this draw towards opening private practices stems in part from younger generations entering the workforce, and not being satisfied with the status quo. Many people now want to go into the entrepreneurial space, while still working one-on-one with patients.

Some physicians feel reluctant to get into a contract with a big healthcare system because they are limited in how they can practice, these systems often have patient quotas, specific treatment timeframes, and treatment limitations. In other cases, it is simply a practitioner wanting to focus on a more customer-centric model, and wanting the freedom of owning their own business.

Start-ups of any kind are easier now more than ever, without the requirement of a brick-and-mortar space there is no limit to how practitioners can connect with patients. Cornerstone Healthcare Consulting and Management has a turnkey solution that can get private practices up and running quickly, with everything they need to provide the best patient care.

They also work with practitioners looking to purchase or partner into an established practice, going through all the pros and cons, helping them decide which route forward best serves their needs.

Starowitz has been in the business a long time and has herself started multiple successful private practices in the Greater Philadelphia Region and New York area, so she knows what it takes both from the management side of it and the owner side. She is not a practitioner, she is an expert in healthcare systems management, and knows the industry inside and out.

Because part of her business is working with practices looking to sell, or improve their sustainability, she knows all the different areas where things can go wrong or need improvement. Her company helps with every single phase of the process, she will do everything from the ground up, including scouting out retail space, coordinating the website, installing the phone system, literally everything.

Starowitz is so successful because she never loses sight of the objective, providing the best care and making things better for the patient. She strives to be cutting edge and on top of trends in the industry, looking at all the new methods and business models that are working.

An example of that is telemedicine, which she was offering well before the COVID-19 pandemic made it so popular. As an entrepreneur herself, she knows exactly what struggles and challenges these practitioners will face and has a ready-made way to approach it.

Starowitz is an incredibly positive and insightful person, deeply committed to helping both physicians and patients. As a single mother, and woman in business, she understands how important work-life balance is and incorporates that into everything she does.

Visit the Cornerstone Healthcare Consulting and Management website to see how they can help get your private practice started.

New Physicians Choosing Private Practice Again

Filed Under: News Tagged With: #doctor, #healthcareconsulting, #medicalpractice, #medicalpracticemanagement, #medicalpracticestartup, #openamedicalpractice, medicalresidency, medicalstudents

Are Non-Compete Agreements Enforceable?

June 8, 2021 by wpcornerstone

Are Non-Compete Agreements Encorceable?

If you have ever taken a position with a healthcare facility, regardless of whether it is a hospital or medical practice, then you know that non-compete agreements are often a key part of the offer letter. What can you do with your career if you sign one? Is it worth it to sign one in order to get that job? In this interview with top healthcare attorney Brigid Maloney, we discuss non-compete agreements and how enforceable they really are.

Brigid Maloney is a Partner and the Co-Leader of the Health Law Practice at Lippes, Mathias, Wexler, Friedman Law Firm in Buffalo as well as Albany New York. With over 20 years in healthcare law, Brigid has done it all…from representing digital health companies, to hospitals, medical practices, and everything in between. Therefore, who better for us to meet and discuss the various aspects surrounding employment law in healthcare. Although non-compete agreements were a main focus of this interview, Brigid provided us with so much more. Below are the questions posed to Brigid from Cornerstone Healthcare Consulting’s Owner, Missy Starowitz. Be sure to watch the video, this is full of valuable information!

  • Is it necessary to involve an attorney for review of an employment agreement?
  • What is a non-compete agreement? Should I sign it?
  • Once employed, are non-compete agreements enforceable?
  • One additional question you’ll have to watch to discover.

Interested to learn more about Brigid and/or contact here? Follow this link to read her bio and gain her contact information. https://www.lippes.com/team/brigid-m-maloney-57

Have a healthcare consulting need you’d like to discuss with Cornerstone Healthcare Consulting? Contact us to schedule a consult!

Filed Under: Blog Tagged With: #brigidmaloney, #buffalony, #doctor, #healthcareattorney, #healthcareconsulting, #healthcarelaw, #lippesmathias, #medicalpractice, #medicalpracticemanagement, #noncompeteagreement

Podiatrist Surgery Suite to Treat More Than Feet!

April 23, 2021 by wpcornerstone

Interview with Dr. George Vito

Whenever you think of a podiatrist, the first thought that likely comes to mind is about feet! That is, unless you meet Dr. George Vito, owner of Ankle and Foot Centers of Western New York. Dr. Vito can treat and even operate on conditions impacting the feet, ankle, and leg, up to the knee.

With a practice history that spans almost 30 years, Dr. Vito functions on what he calls a hub and spoke model. The hub is his office located in LeRoy, New York, with spokes, otherwise known as ancillary locations, located in Rochester, Batavia, Cheektowaga and soon to be Buffalo. At his main hub location in LeRoy, Dr. Vito has developed a JCAHO certified surgery suite, where he is able to perform many surgeries involving the foot, ankle, or leg, including laparoscopic repair. As a result, the surgery is much less invasive than if he operated in the hospital, and the patients can walk out the same day. For the patients seen in Cheektowaga and soon to be Buffalo, Dr. Vito performs these surgeries at the Amherst Surgery Center, located on Sheridan Drive. Are you a clinician in the Genesee County area, and in need of somewhere to perform outpatient surgeries? Good news! Dr. Vito leases his surgery space to other clinicians, as well as coordinates with his anesthesia providers!

With such an impressive background and business development, it seemed only appropriate to ask Dr. Vito what advice he would give to new Podiatry graduates. He provided his advice surrounding the importance of training and emphasized his opinion on the importance of considering the private practice route. He said, “So many aspects of Podiatry now, they want to bring you into a hospital situation…. But then if something doesn’t work out, then you’re left on your own, with no business, no idea of how to run a business; so, the big suggestion is, learn how to run a business”. He further elaborated on his thoughts surrounding the risks of being employed by a hospital system. Be sure to tune into the video to see what he says!

Lastly, the question was posed to Dr. Vito as to whether he would still choose Podiatry if given the chance to do it all over again. The short response was, yes. The more elaborated version surrounded his ability to be autonomous as a private practice owner, and the fact that he still wakes up each morning, with the excitement to continue what he does! Check out the video to learn all he has to say, as well as be a part of the tour of his surgery suite! Interested to learn more? Click here to visit Dr. Vito’s website!

About Cornerstone Healthcare Consulting & Management: Cornerstone Healthcare Consulting and Management was founded in 2014 with the intention of providing high-quality healthcare consulting services to physician practices. Cornerstone has been involved with a number of projects, including opening multiple clinics throughout New York State as well as the Greater Philadelphia Region. This company is also experienced in business development and strategic planning, offering a multitude of other services for those looking to improve their clinic’s processes or procedures. With our experience managing these practices, we also have developed a niche for turnaround consulting for struggling practices that need assistance to return to profitability. To learn more or schedule your free consultation, please visit our website at https://www.cornerstonehealthcareconsulting.com

Filed Under: Blog Tagged With: #ankleandfootcenterofwny, #doctor, #drgeorgevito, #healthcareconsulting, #medicalpractice, #medicalpracticemanagement, #podiatrist, surgery

Insurance Coverage Needs for Medical Practices

March 31, 2021 by wpcornerstone

Insurance Coverage Needs for Medical Practices

Graduating from residency is an exciting milestone that unlocks numerous career opportunities. Whether you choose to work for a health system, join a private practice, or start your own, one critical factor remains constant: the need for proper malpractice insurance. If you’re employed by a health system, this is typically taken care of for you. However, if you opt for private practice or self-employment, securing professional liability coverage becomes your responsibility—a step you cannot afford to overlook.

The Importance of Malpractice Insurance

Malpractice insurance is more than just a formality—it’s an essential safeguard against potential legal claims. Navigating the options and selecting the right coverage can feel overwhelming, but partnering with a knowledgeable, licensed insurance agent who puts your needs first can make all the difference.

Expert Guidance from Mike Shay

At Cornerstone Healthcare Consulting, we rely on the expertise of Mike Shay, a licensed insurance agent with Steinmiller Insurance based in Rochester, New York. In a recent conversation, our owner, Missy Starowitz, sat down with Mike to explore the essentials of securing the right malpractice insurance—whether you’re an employer or an employee.

Beyond Malpractice Insurance

Mike goes beyond just malpractice coverage—he offers a comprehensive look at the business insurance you’ll need if you plan to own a medical practice. Even for non-practice owners, Mike highlights essential additional coverages that extend beyond malpractice insurance to ensure complete protection. While this might seem like an attempt to sell more insurance, Mike emphasizes the value of a simple umbrella policy. For as little as $200 per year, it can provide $1,000,000 in extra liability coverage, safeguarding your home, personal assets, and car with an added layer of security.

Why Trust Mike Shay and Steinmiller Insurance?

Mike Shay is a highly trusted professional who has consistently proven to be an invaluable resource for many of our clients. With a consultative approach, he excels at identifying opportunities to deliver value while offering personalized coverage tailored to each client’s unique needs.

Conclusion

For new doctors, understanding the insurance requirements for medical practices is essential. From malpractice coverage to additional business and personal policies, having the right protection is critical. Working with a trusted insurance agent can help ensure you’re fully covered and prepared for any challenges.

Ready to learn more? Watch our video with Mike Shay for expert insights on securing the perfect insurance for your medical career.

Filed Under: Blog Tagged With: #broker, #businessinsurance, #doctor, #generalliability, #healthcareconsulting, #hipaa, #insurance, #malpracticeinsurance, #medicalpractice, #medicalpracticemanagement, #mikeshay, #rochesterny, #steinmillerinsurance, #workerscomp

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