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What is a Healthcare Business Consultant?

Healthcare Business Consultant

The healthcare industry is dynamic and the Complete Healthcare Business Consulting team is uniquely equipped with skills and solutions to meet the changing demands of operating a healthcare practice. The combination of new medical discoveries, unique care delivery strategies, innovative technology, changing regulations, and pharmaceutical breakthroughs creates a dynamic landscape that is often difficult for a healthcare practice to keep up with. If a practice fails to keep up, the quality of its patient care may also decline, which could have a negative effect on patient outcomes.

Fortunately, healthcare consultants have a broad understanding and experience that can be utilized to fill in the gaps caused by the healthcare industry’s constant changes and help a clinic maintain its course. 

What Does a Healthcare Consultant Do?

Healthcare consultants assist healthcare clinics or organizations in becoming more operationally and financially effective. Utilizing our analytical abilities to identify deficiencies in the clinic’s systems or procedures, we will offer suggestions on how to remedy those deficiencies. CHBC can help with administrative efficiency, legal compliance, workplace & procedural flow, and financial processes.

We seek to improve the efficiency and effectiveness of your practice’s ability to provide quality care to your patients. Ultimately, this can increase the capacity of the practice to improve patient outcomes and your bottom line. 

The Importance Of Healthcare Consulting For Providers

Several significant factors have led to a change within the healthcare sector in the U.S., this has resulted in new challenges for healthcare providers across the country.

  • The Affordable Care Act has expanded insurance to previously uninsured individuals, this has increased the number of patients.

  • New technologies have been developed that can facilitate healthcare but must be implemented correctly.

  • Providers are now faced with more complex contracts that have a higher number of participants.

  • The process of managing a practice has become more difficult, and the need to focus on business growth in order to remain relevant has increased.

  • The cost of services has increased, which has made it more challenging to manage revenue.

  • Patients’ needs are evolving, now they expect more from their healthcare coverage.

CHBC is uniquely capable of assisting healthcare providers to meet these new challenges and adapt to shifts in the sector. 

Certified Healthcare Business Consultant Services

Let’s take a quick look at 4 of the most common services offered by our team

1. Revenue Cycle Assessment

Revenue cycle management is the fundamental component of any healthcare organization. When it’s done correctly, patients have a quicker path to vital services, clinicians can perform their jobs more effectively and the organization will have a higher profit margin. Extreme regulations have negatively impacted healthcare profits. That is why It is essential to invest in regular revenue cycle assessments. 

2. Payor Contract Negotiations

Contracts are of paramount importance, if not properly drafted, reviewed, and implemented, they can have detrimental effects on healthcare organizations. Qualified attorneys can create, review, and approve legal documents that comply with requirements. Our consulting teams at Complete Healthcare Business Consulting review the language of contracts to protect your interest as well as advocate for reimbursement for your services in the market. 

3. Benchmarking and Compensation & Production Analysis

Our team endeavors to provide a series of important metrics that are crucial when hiring a new provider. These include negotiating compensation, setting goals, or confirming production. The most effective way to learn how to improve your practices is now. We will explore as many different facets of information as possible to have a broad perspective by specialty and region. 

4. Mergers & Acquisitions

Mergers can be an exciting period, which can lead to increased revenue and benefits for all parties involved in the transition. Choosing to combine two medical institutions may appear simple at first glance, however, it’s a complicated endeavor that involves numerous pitfalls.  The existing leadership of both companies has a responsibility to both patients and staff in that they must also benefit. 

Every business has a unique personality, as do the employees that perform the labor. Each organization has a different style of leadership and decision-making. It’s difficult to combine these two concepts. Managed poorly, this can lead to conflict and dissatisfaction among the staff and financial difficulties caused by addressing them. Performing a seamless merger is most effectively accomplished with the assistance of an outside party, such as Complete Healthcare Business Consulting.

As a Certified Healthcare Business Consultant, Jackie Coult has provided quality consulting services to medical, dental, and other healthcare practices for over 30 years. At CHBC, our strategy is to focus on the individual needs of each practice or clinic to create business solutions that improve profitability, efficiency, and quality of care. Call  (801) 274-2677 and transform your practice today. 

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