Phase One
In phase one we help you determine the feasibility of your project. We determine how much financing you will need and help you obtain it by working with banks on your behalf. We also help you find a space for your practice.
The feasibility of your project is determined in part by looking at a three year proforma. We analyze all your operational costs as well as your setup cost. Operational costs include things like rent, utilities, staff, malpractice insurance and so on. Setup costs include things like exam tables, waiting room furniture, telephone systems, marketing costs and so on. We then look at your revenue, which we project by using local reimbursement rates, CPT codes and work volume. We do all this by working with you in a step-by-step fashion moving as quickly or slowly as you like.
When we have determined the amount financing you need we then approach banks on your behalf. We help you gather all the documents required for financing and we make suggestions to help you maximize getting the best loan possible. We can often obtain 100% financing for our clients and we make sure you get the best rates and terms possible.
Phase two
Phase two includes all the steps necessary for you to open your practice. We have a step by step project plan that we customize to your open date schedule. We carefully worked through each step of the plan to keep you on track and ensure your success. It includes things like:
- Legal / state filing requirements to open your pratice
- Lease negotiations
- Help with equipment selection including pre-negotiated discounts with vendors
- Assistance with all services needed to run your practice including:
- Credentialing
- Interviewing and hiring of all staff needed (admin, MAs, nursing staff)
- Payroll Setup
- Layout and design of office
- Credit card processing
- Phone systems
- Billing
- Help procuring professional liability insurance
- Marketing, including website design and development
- Laboratory fit-up, design, and CLIA certification including ROI on laboratory
- Compliance
- Credentialing with all major insurers
- Help with EHR selection
Phase Three
We continue to work with you in phase three to ensure the ongoing success of your practice. We help you with practice management and make sure you are on track financially to meet the projections of phase one. We do this by analyzing your financial statements and providing a report to you on a monthly basis.
You may choose any one of these phases or all three. There is no obligation to do all three of them with us. That said most clients do choose all three.