Physician Management Services
Physician management services sometimes referred to as management service organizations (MSOs), offer non-clinical businesses administration services to private medical practices. Depending on the specific needs of the medical practice, physician management services can include marketing, human resources administration, operations management, claims filing and follow-up, and more. The primary purpose of physician management services is to remove pressure from the medical practice’s staff, by taking on tasks that will in turn free up the staff and enable them to focus on the patients and their medical needs. MSOs can increase the productivity of a medical practice, as delegating outside resources to handle and carryout menial, but necessary tasks that allow a practice to continue to function (i.e. the non-medical burden of private medical practices), can reduce the stress of the medical practice’s staff while simultaneously increasing business operations.
Every medical practice is different, and will likely have varying needs when it comes to physician management services. Many MSOs have wide ranging specialties, and will often provide tailored support directly related to the specific needs of any given medical practice. Examples of regularly offered services provided by MSOs can include taking over any combination of the following aspects of the medical practice:
- Financial management: handling aspects such as bookkeeping, accounting, billing, collections, payroll and more.
- Marketing: social media management, providing and/ or pushing content that effectively highlights the medical practice’s exceptional offerings, and marketing it on the proper platforms.
- Public relations: assuring the medical practice is accurately and positively conveyed to the public, as well as handling any unwanted press.
- Human resources: assuring personnel issues and human resource issues are properly addressed and effectively handled.
- Claim submissions: handle all insurance claim submissions, to ensure coding and billing accuracy, as well as claim follow-ups.
- Equipment leasing: making sure lease payments are current on any leased equipment. In situations where changing vendors is necessary and/ or beneficial, locating, arranging and overseeing the removal of leased equipment as well as the instillation of new equipment.
- Onsite maintenance and repairs: arrange, manage, and/ or oversee the completion of any needed repairs and/ or maintenance to equipment and/ or medical practice location site.
- Strategic planning: analyze profitability and provide suggestions for and/ or implement adjustments to improve practice efficiency.
It is important to note that many states, including California, have a law, known as the Corporate Practice of Medicine (CPOM) that prohibits non-licensed individuals from “practicing medicine, or owning, investing in, or controlling professional medical practices.” As such, MSOs cannot engage in providing any medical care, or hiring physicians to provide medical care through the MSO. The medical professionals of the medical practice remain in complete control of all medical decision-making and patient care aspects. The services provided by MSOs are solely to preform non-medical, and non-clinical services.
In order for a medical practice to run smoothly, it requires medical staff in addition to a number of different workers with distinct specialties. Medical professionals are trained to carryout medically related tasks. In situations where a medical professional required to handle all aspects of his or her medical practice (i.e. providing medical services, handling billing, overseeing the schedule…etc.) the medical practice will suffer. Physician management services are intended to provide medical professionals with the much-needed support to improve efficiency and draw in revenue to the medical practice. When a medical practice is operating at its highest potential, it will be reflected in the overall patient experience.
As insurance regulations change, it is imperative that companies understand how each change can affect their practice, in all aspects. Insurance companies are notorious for offering excuses and utilizing loopholes to avoid paying providers what they owe. Accreditations such as CARF and JCAHO are now a common requirement for insurance companies to render payment. These certifications alert the public that a company has been adequately inspected and is considered reputable, meeting the accreditations high standards. The accreditation process can be arduous, requiring a significant amount of time and energy. Our staff offers diverse skills that enable Oracle Billing and Services, Inc. to assist in areas ranging from CARF-Accreditation, Verification of Insurance benefits, Insurance Collection Calls, Drug/Alcohol state licensing, JCAHO-Certification and more. Oracle Billing and Services has extensive experience in assisting companies in the health industry, in understanding the ever-changing regulations as well as providing expert consultation for all areas of operations. We look forward to connecting and helping to bring your company to the next level.