"We are working harder than ever, so why are we making less money?"
"Our colleagues have merged their practice with the hospital. Should we merge too?"
"Our group has a contract up for renewal with an increasingly demanding hospital. How can we cement the relationship and get the best deal?"
"My colleague is asking me to partner with her. How do I know if this is a good idea?"
"Our staffers are looking for raises. How much should we pay them?"
"How do we incentive the providers and the staff?"
At Westminster, these are the problems and questions we help address for our healthcare clients every day. Healthcare today is all business - a complex, high-tech industry where just trying to cut expenses and increase production won't necessarily provide the results you deserve.
Here are some of the ways we can help:
Practice Reviews. We can show you how to look deep into the business side of your practice, from front-desk systems to provider compensation to succession planning. The review process culminates in a detailed analysis pointing to better cost control and opportunities for improvement. We'll look, listen, analyze, report and then help implement the right changes for even the toughest challenges.
Financial Reporting. With an approach that's both timely and tuned in, we can help you apply regional and national benchmarks so you can set and meet high goals on efficiency, productivity and, not least, fiscal management.
Practice Metric Reporting. Because non-financial factors can impact operational and even clinical success, we'll work with you to obtain practice metrics data that not only fulfill reporting requirements for maximum reimbursement but also illuminate the best way forward.
Incentive Compensation Plan Design. Rewards for good performance don't just bring out the best in people. Strategically administered to staff as well as providers, they can also have a ripple effect, optimizing the patient experience and increasing referrals. .
Tax Planning. Never wait till tax time to find savings and ward off unwanted April surprises. We can help you plan smart and monitor regularly so filing time is minimally stressful and maximally rewarding.