Midlakes Physician Practice Services
Practice Start-up Organization and Planning
It takes a great deal of forethought, planning and effort to effect a smooth transition into private practice. The goal is for the provider to be able to focus on the care of the patients and development of patterns of referral and not be bogged down by the business side of the professional practice. Mid-Lakes proven ability to plan and assist practice start-up includes the following elements:-
Transition Analysis, Planning and Scheduling
Financial forecasting ("proforma") and planning to minimize start-up capital requirements
Financing (equipment loans, working capital, leases, bank accounts, etc.) -
Third Party Payor Applications and Hospital Credentialing
The ability to bill and be paid is dependent on 3rd party & hospital credentials. -
Employment Agreement/Contract Termination
Proper separation from a current employer or business relationship is essential. -
Insurance
Malpractice, Disability and General liability -
Office Facilities and Services
Location, space and lease terms
Office and medical equipment ands supplies
Communications: Telephone, pager, answering service, Internet connectivity
Housekeeping and medical waste removal -
Staffing
Staffing is often the largest single operating expense for a practice
Nature and magnitude of staffing required - clinical and/or clerical
Recruitment, hiring, training, wages and benefits -
Billing system set-up
Fee schedules, forms, releases, superbill layout -
Transcription
Employed, subcontracted or on-line service -
Accounting
Bank accounts, paying bills, performance reporting, record-keeping for income taxes
Accountant
Pension planning -
Publicity
Announcements, letters, advertisements
If you are interested in more information about becoming a client,
please contact us via email or call us at (315) 462-9482