Practice Management
Practice Management Services are overseen by Michelle R. Naus, CPA. She along with a dedicated team of specialists would perform the following services:
Financial Management Services
- Prepare and review operations reports monthly.
- Prepare and review financial statements monthly including reconciliation of bank accounts and all balance sheet accounts.
- Audit financial information and reconciliations prepared by the practice manager in order to provide better internal controls.
- Prepare and submit monthly payroll, including payroll taxes and reports.
- Receive, code, enter and pay all accounts payable invoices.
- Store or scan invoices in support of payments.
- Prepare and process patient refunds as required.
- Prepare 1099s as required.
- Monitor cash flow.
- Fulfill annual reporting requirements of elected 401k,profit sharing plans.
- Assist in design of physician benefit programs.
- Assist group’s tax accountant with year-end tax preparation as required.
Strategic Management Services
- Prepare annual budgets.
- Managed care contract negotiations support .
- Review corporate documents in conjunction with Group’s consulting professionals. Include: Independent Contractor Arrangements, Employment Agreements, Compliance Plan, Rules and Regulations, Bylaws, Deferred Compensation Arrangements, Shareholder Agreements.
- Provide current knowledge of governmental regulations, third-party payor activities, competition, economic changes and other outside influences affecting the practice.
Operations Management Services
- Monitor contracts with managed care providers.
- Assist in the development of operational targets and reports.
- Key practice indicator tracking and report development.
- Monitoring relevant A/R management indicators and providing regular summaries to the Group regarding significant operational issues, with suggested action points.
Credentialing Services
- Monitor contracting, licensing, and credentialing deadlines.
- Prepare applications for signature.
- Maintain procedure, CME logs as needed for hospital surveys.
- Maintain managed care contract schedule.