We offer healthcare providers our more than two decades of expertise in a variety of areas. Please visit our Valuation page for details on that aspect of our practice. Visit our Articles and Commentary page for the details of our thinking and advice as reflected in the many publications we have written for. The thumbnails below each caption below lead to relevant additional material.
Managed Care Contracts
We have extensive experience in analyzing and negotiating both capitated and fee-for-service contracts with HMOs. Our clients have in excess of 14,000 capitated full-risk Medicare lives for which we play a major role in contract negotiation. We also represent IPAs in negotiating commercial risk contracts on a capitated or fee-for-service with withhold basis. Mark Dietrich’s book The Medical Practice Valuation Guidebook, Including the Influence of Managed Care, includes an extensive analysis on how capitation works in the commercial and Medicare settings. Mark’s new book for John Wiley & Sons, The Financial Professional’s Guide to Healthcare Reform, contains a wealth of knowledge about Romneycare, Medicare Advantage and the federal Reform legislation!
Curious about how your practice compares to others in the same specialty? Interested in knowing how your use of the Evaluation and Management codes compares to other physicians? Our comprehensive Practice Evaluation program looks at your practice’s productivity and expenses compared to statistical norms, use of the E&M codes, management and aging of accounts receivable, and distribution of charges, receipts, and contractual adjustments by payor. This program is particularly valuable to hospital’s that have acquired medical practices and experienced difficulty in understanding their lack of financial success.
Mergers and Acquisitions
Closely related to our valuation practice, we offer physicians hands-on experience with structuring and negotiating buy-ins and buy-outs in their practices. We have represented numerous buyers and sellers and served as the principal consultant in the formation of a number of successful group practices. Our overriding goal is a “win-win” for all parties. The 3rd Edition of Mark’s American Health Lawyers/Business Valuation Resources Guide to Healthcare Valuation includes an all new chpater devoted to buy-ins, written by Mark.
Physician Compensation Plans
“The engine that drives the practice” is the way one of our group practice clients’ administrators described it. With our in-depth knowledge of both the fee-for-service, RVU and capitated worlds, we can assist you in designing a compensation plan that rewards behaviors necessary to succeed in the mixed environment that many practices operate in.
Healthcare providers face a number of critical challenges in the new era. Notable among these is the market power HMOs and the move towards P4P payment mechanisms, notable Accountable Care Organizations (ACOs). We can assist you in charting a course through the financial perils of today’s medical practice.
With our academic and practical background in income taxation, we can offer the traditional tax planning services that other accounting firms offer, and combine your income tax strategy with the balance of your financial planning. If your practice uses a professional corporation, we have the detailed knowledge of the workings of the tax law in this area necessary to prevent the kind of tragic errors often made by advisors with no experience. We are also available to represent you in proceedings before the Internal Revenue Service.