MPA’s relationship with new clients usually starts with a medical practice evaluation, which is a short-term engagement lasting approximately 4 weeks. Over this time period, we gather information from practice management/EMR systems, review financial statements (income statement and balance sheet), interview doctors and office staff, and observe the inner workings of the practice.
The engagement ends with a sit down meeting with the doctors to go over a list of problems and recommendations. This list becomes the road map for increased physician compensation and improved practice performance. Practices have wisely taken the approach to use the evaluation as a way to “test drive” what MPA knows and can do. There’s obviously a cost to an evaluation (cost depends on the size of complexity of the practice). Our evaluations are proven to provide great value.
An ENT practice in Utah is one good example of the value of an evaluation. We identified 35 problems during the evaluation. One of those problems involved the practice overlooking a few billing items related to its in-office CT scanner. This single finding now generates more than $10,000/year for the practice. This practice recouped more than the cost of the evaluation in less than one year.