The PhyNet Dermatology Team Welcomes New Affiliates with a Thorough Review
Once a physician becomes a PhyNet Dermatology affiliate, members of our experienced team collaborate with the practice to mitigate risks, identify cost savings, and implement strategies to ensure the practice is positioned to be as successful as possible. Practice evaluations include financial reviews, compliance reviews, and an operations review to equip the physician with the necessary tools to better achieve practice and career goals.
Since these practice evaluations are exceedingly thorough, they are exclusively reserved for dermatology and dermatopathology practices that are PhyNet Dermatology affiliates. It is important to note these practice evaluations commence upon the signing of definitive agreements, as the sooner areas for improvement are identified, the faster you are able to become more efficient. There are several takeaways our affiliates receive with these practice evaluations. For instance, our analysis may reveal that adding a new doctor or physician extender would enable the practice to become more efficient. It is also possible that the analysis will reveal the need for expansion opportunities in different geographies. When armed with this knowledge and collaborating with an aligned stakeholder, you can determine the future steps of your practice with confidence.
Partner with PhyNet Dermatology to identify the best ways to be reaching your practice goals. Find out more about practice evaluations for our affiliates. Call (615) 224-7755 or send a message online.
The Value of Practice Evaluations
At PhyNet Dermatology, most of our practice evaluations are based on the foundation established by our Medical Advisory Board, comprised of leading dermatologists in the profession. Providing quality care is one of the core tenets the company was founded on, so you can be assured that every assessment, recommendation, and suggested improvement is made with a goal of helping our affiliated practices rank among the leaders in the industry. When physicians become affiliates with PhyNet, they gain immediate access to a cadre of medical experts in the industry. All of the team is committed to developing best practices that, in turn, enable physicians to provide exceptional, quality care to their patients.
Our practice evaluations are led by individuals with decades of experience. This wealth of historical knowledge enables us to proactively identify potential problem areas. This enables you to save money and can make your practice become more efficient.
An integral part of the practice evaluation involves a deep dive into the practice's financial health. We will provide a detailed review of every aspect of the practice that involves money. This involves a thorough review of existing managed care contracts, provider compensation agreements, and medical supply contracts, as well as capital and operational budgets, to create a clear picture for you of the overall financial state of the practice. At the end of the financial review, we will provide recommended strategies for identified cost savings and billing efficiencies for you to consider and will work collaboratively with you on implementation.
In today's turbulent healthcare environment, it is often difficult to keep pace with ever-changing regulations and laws. The sheer volume of legal guidelines and restrictions makes staying in compliance a challenging endeavor. The compliance review portion of our practice evaluations focuses on limiting liability as much as possible. This includes examining patient-focused areas, such as billing, reimbursement, ICD-10, PQRS, MIPS, MACRA, and HIPAA, as well as internal areas, such as Occupational Safety and Health Administration regulations, data security, and even anti-kickback laws. Implementing corrections after a PhyNet Dermatology audit can save time, money, and headaches in the event of compliance reviews from an outside agency.
The operations review portion of our practice evaluation involves examining the day-to-day management of your practice. This includes managed care contract negotiations, patient wait times, medical supply costs, maximizing the usage of physician extenders in a clinically safe manner, and more. It is common to find that efficient operators also enjoy high patient satisfaction scores.
What Comes After a Practice Evaluation?
Once the practice evaluation has been completed and areas for improvement have been identified, the actual work of streamlining operations, implementing more rigorous compliance guidelines, and shoring up finances takes place. PhyNet Dermatology not only performs the evaluations for our affiliates, but also works with the physician to implement the solutions—always with an eye for long-term sustainability and continued success. Partnering with an experienced team to consolidate administrative management means we focus on handling ever-increasing regulatory burdens and managing staff so you can devote more time to providing exceptional, quality care.