If your practice is like many today, rising overhead costs and falling revenues are eroding your bottom line. It may be time to take a hard look at your practice's efficiency, expenses, and cost structure. By conducting a practice operations assessment, TMA Practice Consulting can help you take full advantage of every opportunity to leverage your time and resources.
Overhead analysis is a key component of an operations assessment. Is your cost of overhead as a percentage of revenue going up or down? How does it compare with others in your specialty? As part of their assessment, TMA consultants will evaluate these areas, comparing expenses over time and against standard benchmarks. They examine individual cost categories and look for ways to streamline your operations.
The biggest expense category in most practices today is non-physician payroll and benefits. Is your staffing level appropriate for your office? An understaffed office can lose money through inefficiency while an overstaffed office may not be as productive as possible.
For your operations assessment, TMA consultants will spend one to three days evaluating your practice operations through observations, personal interviews and financial analysis. After reviewing extensive financials and compiling their findings, the consultants prepare an extensive written report with recommendations, specialty specific benchmarks and an implementation timeline for improved operations. Phone support for 30 days is included following the assessment. Up to 20 CEUs are available for conducting and implementing recommendations from the report.
If you want to improve your practice operations, turn to the Texas Medical Association. Call us for more information at (800) 523-8776 or e-mail TMA Practice Consulting.