Engagements

SAMPLE OF ENGAGEMENTS PERFORMED

OB/GYN Department Within Academic Medical Center:

• Hired by the CFO of the Medical School to perform forensic accounting and review policy and procedures for finance and operations for a department with a 25 million dollar budget.
• Results:
  • Completed project over a twelve month period resulting in a complete restructuring of the accounting system with internal controls over finance, billing, and collection. Assisted in the negotiation with the hospital which increased cash flow. Reviewed compensation program for divisions and physicians, managed and supervised accounting and billing staff.

PRIMARY CARE CENTER:

• Hired by Executive Director and worked with Ernst & Young during audit. Provided Interim CFO Services for a primary care center with an 8 Million Dollar Budget.
• Results:
  • Increased cash flow by preparing and submitting numerous billing and grant reports. Corrected the general ledger which was six months in arrears. Provided monthly financial statements that was accepted and approved by the board of directors. Worked with Ernst & Young to close out the fiscal year end and complete the annual audit. Managed and reviewed the billing department, provided new guidance which increased revenue and efficiency in the billing and collection area.

INTERNAL MEDICINE GROUP:

• Hired By the managing partner of a thirty five physician primary care group. Performed numerous accounting and consulting functions.
• Results:
  • Revenues increased by 33% over the five years of performing these services.

PATHOLOGY DEPARTMENT AND CLINICAL LAB:

• Hired by the Chief of Pathology to perform numerous accounting and consulting duties for over ten years. Played a key role in negotiations with the hospital.
• Results:
  • Revenues increased over 25% for pathology department. Perform Practice assessment for clinical laboratory which saved 50,000.

RADIOLOGY DEPARTMENT:

• Hired by the Chief Financial Officer of an Academic Medical Center to perform a physician compensation analysis and Stark Valuation for the radiology department.
• Results:
  • Discovered a $ 540,000 savings for the department resulting in both a monetary savings and Stark Compliance.

PRIMARY CARE MEDICAL GROUP:

• Hired by Medical Director to perform cost accounting by CPT Code using RVU based approach. Conducted provider productivity analysis and calculated Acuity factor For group using the data to review and analyze managed care contracts, physician compensation and coding.
• Results:
  • Re-focused the physicians and staff on correct coding, efficiency, policy and procedures, profitable services, use of ancillary providers and cost and overhead.
    The report was used as a basis to re-format the group from both an operational and clinical perspective without comprising clinical guidelines. The group’s income increased by 20% over two years. Performed follow up monitoring services.

MSO AND IPA

• Retained by an Investment Bank to perform due-diligence and accounts receivable review and valuation for a large management service organization serving over 1,000 physicians. The engagement report was used to evaluate third party financing of the receivables.
• Results:
  • Performed on site evaluation and due-diligence of MSO. Issued report in a timely manner and attended meeting with bank management to review findings.

MEDICAL GROUP MERGER DUE-DILIGENCE

• Conducted a comprehensive assessment and due-diligence of a thirty physician multi-specialty group in connection with a proposed merger with a similar medical group. The analysis include a review of practice billing and collection, procedure mix, Compensation and overhead, policies and procedures, accounting and tax issues, leases, financing and debt agreements, staffing issues, management and governance issues as well as information management systems and programs.
• Results:
  • Prepared a report of findings for group’s to consider in merging the practice. Ultimately, it was decided not to merge for several reasons.

DIAGNOSTIC AND TREATMENT CENTER (ARTICLE 28 FACILITY)

• Hired by the Executive Director and the CFO to develop policies and procedures for billing department, accounting and finance department and front desk operations for a Primary Care Center with three sites and 250 employees.
• Results:
  • Prepared policies and procedures that was approved and accepted by senior management. Assisted in the implementation and training of staff.

Numerous other engagements projects and references can be furnished upon your request.