Compass Healthcare Consulting’s Post

Attention healthcare professionals! 🏥 In the ever-changing landscape of healthcare, it's crucial to be prepared for unexpected events like clinic closures or mergers. Join me, Jon from Contract Diagnostics, as I shed light on key contract considerations, including non-competes, tail insurance, and termination pay. Knowing your rights and options is essential in navigating transitions smoothly. If you find yourself in such a situation, Contract Diagnostics is here to assist you on your path to success.

Are you a dedicated medical professional feeling the weight of administrative tasks, longing for more quality family time? Or perhaps you've reached a pivotal point in your career, seeking a future that secures both your legacy and financial well-being? Maybe you're a practice owner who, despite the theoretical allure, finds that the reality isn't quite aligning with your professional and financial aspirations? You're not alone. Many like-minded professionals are exploring the path of practice transition. At Practice Partners, we understand these unique journeys, and we're here to guide you. With a wealth of experience in medical business sales and acquisitions, we're poised to connect you with the right buyer. Plus, our expertise ensures that your practice is meticulously prepared for sale. Every conversation is held in the strictest confidence, because your trust is our priority. Embrace the next chapter of your practice journey with confidence. Reach out to Practice Partners today. #practicesales #healthcaresales #sell #medicalpractice #sellmedicalpractices #healthcareacquisitions #practiceowners #medicalclinic #practiceowners #medicalpracticeowners #healthcarebusiness

For over three decades, Microsoft Excel has been a standard tool in credentialing processes, involving manual tasks like document acquisition, verification, and payer enrollment applications, with progress tracked in spreadsheets and re-credentialing deadlines set in Outlook. However, this traditional method can be challenging for independent primary care practices with limited administrative resources. Key scenarios that often lead to a credentialing crisis in such practices: 👉 𝐃𝐞𝐩𝐚𝐫𝐭𝐮𝐫𝐞 𝐨𝐟 𝐚 𝐋𝐨𝐧𝐠-𝐭𝐞𝐫𝐦 𝐂𝐫𝐞𝐝𝐞𝐧𝐭𝐢𝐚𝐥𝐢𝐧𝐠 𝐄𝐱𝐩𝐞𝐫𝐭 𝘛𝘩𝘦 𝘦𝘹𝘪𝘵 𝘰𝘧 𝘦𝘹𝘱𝘦𝘳𝘪𝘦𝘯𝘤𝘦𝘥 𝘤𝘳𝘦𝘥𝘦𝘯𝘵𝘪𝘢𝘭𝘪𝘯𝘨 𝘴𝘵𝘢𝘧𝘧 𝘤𝘢𝘯 𝘭𝘦𝘢𝘷𝘦 𝘢 𝘱𝘳𝘢𝘤𝘵𝘪𝘤𝘦 𝘴𝘵𝘳𝘶𝘨𝘨𝘭𝘪𝘯𝘨 𝘸𝘪𝘵𝘩 𝘤𝘰𝘮𝘱𝘭𝘦𝘹 𝘤𝘳𝘦𝘥𝘦𝘯𝘵𝘪𝘢𝘭𝘪𝘯𝘨 𝘵𝘢𝘴𝘬𝘴, 𝘱𝘰𝘵𝘦𝘯𝘵𝘪𝘢𝘭𝘭𝘺 𝘤𝘢𝘶𝘴𝘪𝘯𝘨 𝘥𝘦𝘭𝘢𝘺𝘴, 𝘤𝘢𝘴𝘩 𝘧𝘭𝘰𝘸 𝘪𝘴𝘴𝘶𝘦𝘴, 𝘢𝘯𝘥 𝘤𝘰𝘮𝘱𝘭𝘪𝘢𝘯𝘤𝘦 𝘳𝘪𝘴𝘬𝘴. 👉 𝐑𝐚𝐩𝐢𝐝 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝘗𝘳𝘢𝘤𝘵𝘪𝘤𝘦𝘴 𝘶𝘯𝘥𝘦𝘳𝘨𝘰𝘪𝘯𝘨 𝘴𝘪𝘨𝘯𝘪𝘧𝘪𝘤𝘢𝘯𝘵 𝘨𝘳𝘰𝘸𝘵𝘩, 𝘴𝘶𝘤𝘩 𝘢𝘴 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘮𝘦𝘳𝘨𝘦𝘳𝘴 𝘰𝘳 𝘢𝘤𝘲𝘶𝘪𝘴𝘪𝘵𝘪𝘰𝘯𝘴, 𝘮𝘢𝘺 𝘧𝘪𝘯𝘥 𝘵𝘩𝘦𝘮𝘴𝘦𝘭𝘷𝘦𝘴 𝘶𝘯𝘢𝘣𝘭𝘦 𝘵𝘰 𝘮𝘢𝘯𝘢𝘨𝘦 𝘵𝘩𝘦 𝘪𝘯𝘤𝘳𝘦𝘢𝘴𝘦𝘥 𝘷𝘰𝘭𝘶𝘮𝘦 𝘰𝘧 𝘱𝘳𝘢𝘤𝘵𝘪𝘵𝘪𝘰𝘯𝘦𝘳𝘴 𝘯𝘦𝘦𝘥𝘪𝘯𝘨 𝘤𝘳𝘦𝘥𝘦𝘯𝘵𝘪𝘢𝘭𝘪𝘯𝘨 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦𝘪𝘳 𝘦𝘹𝘪𝘴𝘵𝘪𝘯𝘨 𝘳𝘦𝘴𝘰𝘶𝘳𝘤𝘦𝘴. 👉 𝐏𝐡𝐲𝐬𝐢𝐜𝐢𝐚𝐧𝐬 𝐄𝐧𝐭𝐞𝐫𝐢𝐧𝐠 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞 𝘋𝘰𝘤𝘵𝘰𝘳𝘴 𝘴𝘵𝘢𝘳𝘵𝘪𝘯𝘨 𝘵𝘩𝘦𝘪𝘳 𝘰𝘸𝘯 𝘱𝘳𝘢𝘤𝘵𝘪𝘤𝘦𝘴 𝘰𝘧𝘵𝘦𝘯 𝘧𝘪𝘯𝘥 𝘤𝘳𝘦𝘥𝘦𝘯𝘵𝘪𝘢𝘭𝘪𝘯𝘨 𝘰𝘷𝘦𝘳𝘸𝘩𝘦𝘭𝘮𝘪𝘯𝘨, 𝘢𝘴 𝘪𝘵 𝘢𝘥𝘥𝘴 𝘵𝘰 𝘵𝘩𝘦 𝘮𝘺𝘳𝘪𝘢𝘥 𝘳𝘦𝘴𝘱𝘰𝘯𝘴𝘪𝘣𝘪𝘭𝘪𝘵𝘪𝘦𝘴 𝘰𝘧 𝘦𝘴𝘵𝘢𝘣𝘭𝘪𝘴𝘩𝘪𝘯𝘨 𝘢𝘯𝘥 𝘳𝘶𝘯𝘯𝘪𝘯𝘨 𝘢 𝘯𝘦𝘸 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴. Managing these challenges calls for innovative solutions and adaptive strategies. We're curious – what best practices have you implemented in your practice to navigate credentialing efficiently? Share your insights! Swipe to explore how leveraging technology can make a significant difference. 𝐓𝐚𝐤𝐞 𝐭𝐡𝐞 𝐟𝐢𝐫𝐬𝐭 𝐬𝐭𝐞𝐩 𝐭𝐨𝐰𝐚𝐫𝐝𝐬 𝐚 𝐬𝐭𝐫𝐞𝐚𝐦𝐥𝐢𝐧𝐞𝐝 𝐚𝐧𝐝 𝐬𝐞𝐜𝐮𝐫𝐞 𝐜𝐫𝐞𝐝𝐞𝐧𝐭𝐢𝐚𝐥𝐢𝐧𝐠 𝐬𝐲𝐬𝐭𝐞𝐦 𝐟𝐨𝐫 𝐲𝐨𝐮𝐫 𝐩𝐫𝐚𝐜𝐭𝐢𝐜𝐞. #RevenueCycleManagement #Credentialing #MedicalPractice #HealthcareBusiness #HealthcareAdministration #PhysicianPractice #MedicalCompliance #DigitalHealth #HealthcareInnovation #PracticeManagement #HealthcareManagement

Struggling with the time-consuming task of 𝐌𝐞𝐝𝐢𝐜𝐚𝐥 𝐁𝐢𝐥𝐥𝐢𝐧𝐠? Our latest blog explores practical strategies to streamline your process and save time. From simplifying claims to the perks of outsourcing, we've got tips to help you boost your practice efficiency. Check it out and discover how you can transform your billing workflow today: https://bit.ly/4fCSs1k #prgmd #billingsolutions #timesavingtips #streamlinebilling #efficientbilling #streamlineyourprocess

In the third installment of our M&A series, Principal Advisor John Norling explores the critical role of Transition Services Agreements (TSAs) in health care IT acquisitions. A TSA is often essential for complex health care systems to ensure a smooth transition when the Buyer needs the Seller to continue providing certain services temporarily. This allows time to replace systems like EMR, imaging or ERP with those of the Buyer. Read part three for key considerations for a TSA here: https://lnkd.in/gZD_8s_b

🩺 Thinking of selling your practice? The right preparation takes months or even years. 🩺 Start by gathering comprehensive financial records and analyzing profitability trends. Ensure your practice has a clean compliance record, as due diligence will uncover any discrepancies. Engage with a healthcare advisor to conduct a detailed valuation and identify areas that can improve your practice’s appeal to potential buyers. #PrivateHealthcare #SovDoc #PrivatePractice #PracticeValuation

Optimizing your 𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐨𝐫𝐲'𝐬 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 𝐜𝐲𝐜𝐥𝐞 𝐦𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 with our comprehensive guide! Learn how to streamline billing processes, navigate compliance requirements, and maximize revenue potential. Check out the article now: https://bit.ly/48pIfQU #RCM #LabManagement #HealthcareFinance #MedicalLaboratory #laboratoryautomation #laboratoryprofessionals #laboratoryservices #revenuecyclemanagement #revenuecycle #revenuemanagement #Prolis #medicalbilling #complaince #revenueoptimization #revenuegrowth

🏥 Why Due Diligence Matters in Healthcare M&As 🏥 Due diligence involves more than just ticking off a laundry list of procedural steps—it means looking at every aspect of your organization that affects daily operations, including areas you might not have even considered. 🤔 One of those areas is financial due diligence, which allows you to showcase the overall health of your revenue and accounts receivables to a potential buyer. Another? Due diligence for operational and quality of care—aka the heart of clinical operations. 💝 Get more details—and discover how due diligence can be a strategic superpower in healthcare M&As—from our new article: https://ow.ly/7B5z50SRIKw #DueDiligence #MergersAndAcquisitions #Healthcare #Success

Considering a strategic partnership or real estate transaction? This white paper is for you: https://lnkd.in/g3t_w9mh The industry-leading teams at Physician Transaction Advisors and ERE Healthcare Real Estate Advisors have collaborated to share the expertise, knowledge and experience gained from successfully managing over 500 strategic partnership and real estate transactions to ensure their collective clients achieve the maximum total value for the assets they’ve built over their careers. Whether you’re considering a strategic partnership transaction or a real estate sale, it’s crucial to have a comprehensive understanding of the value of your assets. This involves assessing how potential sales could impact your partnership(s), recognizing the near and long-term benefits of such transactions, and strategizing to ensure the best overall results for your organization.

Be sure to register for this upcoming webinar, as my coworkers highlight considerations throughout the lifecycle of a transaction that are unique to the healthcare industry, ranging from preparation, to navigating and negotiating the deal, to post-closing integration. #McDonaldHopkins