ProMD is more than just a name … it is the basic philosophy of this South Florida physician practice management company where MBAs, MHAs and MDs initiate and oversee all operational improvements to meet or exceed established benchmarks in provider services and profits.
“As our name implies, ProMD, founded by a physician, has created a culture that focuses on the well being of our clients, the MD, so in turn that physician can focus on the well being of his patients,” explained Jose Carreras, Vice President and COO. “We truly mirror our roots, partnering with physicians in an atmosphere of trust and respect.”
The firm distinguishes itself from the competition by balancing the best outcomes from the teams consulting expertise with a billing & collections performance that historically increases profits to, at a minimum, cover ProMD fees. The overall collection rate for ProMDs clients exceeds 95% after nine Months from claim submission, exceeding MGMAs benchmarks. This is accomplished first via a practice assessment with a guaranteed satisfaction. If the physician does not appreciate the value of ProMDs audit and secure timely and on-going improvements in collectibles, there is no charge.
“As of today, we have never had a client who did not view this comprehensive analysis as a key outcome for improved operational success,” Carreras reports.
(l to r) Juan H. Kouri, MHSA Director of Business Development and Jose Carreras, MHSA, VP and COO.
This win-win exercise analyzes the non-clinical aspects of the business including staff ratios, salary analysis, staff turnover & scheduling, purchasing agreements and cash control models – including a thorough audit of insurance contracts, insurance eligibility verification and denied claims reviews. Immediate steps typically integrate ProMDs billing and collections resources into the physicians practice management system to quickly bring more revenue through the door. This arrangement inherently allows doctors to maintain control over their practice while reaping the benefits of improved claims submission, processing, adjudication and payment. This alleviates concerns regarding data ownership. All in all, ProMD works to collect data, identify trends, recommend operational improvements and monitor performance to provide the impetus for forward momentum.
The fundamental beauty of this business relationship is that it frees the clinicians to focus on their patients care plans. “These physicians no longer dwell on the economic challenges of providing care and are instead re-focused back to quality delivery, preventive and curative techniques and patient outcomes– after all, thats why these doctors chose medicine from the start,” he said.
According to the ProMD plan, this firm does not just swoop in and take over while helping a practice to master the claims management process. Using state-of-the-art technology, economies of scale, purchasing alliances and business relationships with related services, ProMD works to identify issues, discuss recommendations, provide training and implement options to improve collections and increase practice efficiency. The team at ProMD has years of experience in medical office management and operations and offers to enhance medical practices by providing the best Billing & Collections, Operations Oversight, Management Oversight, Consulting Services and Project Development services available.
According to Carreras, “We are seeking long term relationships, and once we have identified practice vulnerabilities and lost revenues, we train staff to verify insurance in order to avoid lengthy or nonpayment issues, combat denials, and improve efficiency with the claims management process. Our overall analysis from an insurance, human resources, financial and technology perspective is valuable in putting the practice back on the road to financial health with corrective or pre-emptive solutions regarding software, clinical equipment acquisitions and day to day business equipment and supplies.”
The bottom line? ProMD partners with you, the physician to improve your practices internal processes, resulting in increased profitability and work site satisfaction, and ultimately enhances quality, effectiveness and cost efficiency.
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