Dr. Sheybani: Internal Medicine Practice Consulting Case in the Suburbs of Los Angeles Location Los Angeles, Suburban Categories Internal Medicine Case Study: Understanding the Operations of an Internal Medicine Practice and Suggest Optimizations to Improve Revenues and Profits Dr. Sheybani: Internal Medicine Practice consulting case in the suburbs of Los Angeles A wonderful and kind …
Dr. Sheybani: Internal Medicine Practice Consulting Case in the Suburbs of Los Angeles
Location
Los Angeles, Suburban
Categories
Internal Medicine
Case Study:
Understanding the Operations of an Internal Medicine Practice and Suggest Optimizations to Improve Revenues and Profits
Dr. Sheybani: Internal Medicine Practice consulting case in the suburbs of Los Angeles
A wonderful and kind doctor struggling to make ends meet in a busy practice. The practice accepts most insurances and has a healthy reputation in the market. His practice is open regular hours and his calendar is mostly full. Yet, his profits do not reflect his hard work. His insurance contracts are with HMO and PPO providers as well as Medicare.
The challenge for this internal medicine practice consulting assignment was complex requiring a deeper look into the operations and realize the losses and potential for improvements.
We undertook a study to understand patient volumes and the type of insurances they carried. We also endeavored to understand how billing was being handled and performed. A closer look at the doctor’s schedule was essential to understand how his time was being used at the clinic and his productivity.
Key Areas of Analysis:
Medical Weight Loss Therapy
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IV & Energy Therapy
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Membership
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Results
Forensic analysis helped discover the main reasons behind low revenues and profits. Advised to take immediate actions to stem the losses and improve profitability. Billing review yielded poor collection abilities and suggestions were also made to improve upon billing dept. To future proof the practice, recommendations were made to engage in marketing and advertising for the practice to attract patients carrying better paying insurances.
