Financial Analysis
The bottom line is this: You've got to do well to do good.
A financially stable entity enjoys the freedom to capitalize on opportunities. Staying profitable and prudent has allowed our clients to compete in increasingly aggressive and competitive markets. We've spent the last 20 years learning just how well physicians consume and use information. Consequently, we've become quite adept at the gathering and presentation of data which helps our physicians make good, informed decisions.
Our financial specialists review clients on a monthly basis, watching for unfavorable trends, benchmarking, and suggesting preventive treatments.
Case history: Twelve-physician, multi-specialty group, Montana
Subjective:
Physicians suffered depression and indecision following group's bankruptcy.
Objective:
The loss of several physicians created unacceptable overhead due to high-fixed expenses.
Assessment:
Physician contracts rewarded physicians departing the group with inflated buy outs.
Plan:
Financial modeling offered various recovery plans, which were explored by MedMan-facilitated group discussions; the group adopted a plan to remain together; physician contracts were modified to provide incentives for loyalty; MedMan negotiated new rental rate based on percentage of receipts.
Outcome:
Clinic recovered, recruited physicians, and returned to its optimum size; entered into a management contract with MedMan.