There is no term more overused and misunderstood by anesthesia providers, anesthesia billing companies and medical management consultants than practice management. The reason is simple. There is a certain panache to being able to say “Yes, we provide practice management.” The fact is that for most firms such statements are more wishful thinking than an articulation of a clearly defined scope of services.
Anesthesia medical practice management should be clearly distinguished from Billing and AR management and Financial services. While AR management focuses on the revenue generation and financial services on the management of expenses, practice management defines the context for both. Anesthesia medical practice management comprises all of those non-billing and payable functions essential to the effective management of a practice such as governance, business decision-making, contracting, Human Relations, marketing and customer service.
Practice management is the most flexible aspect of the services ABC provides because each scope of services is customized to the specific business situation and requirements of each medical anesthesia practice. It is also the highest level of service ABC provides in that there is no specific playbook or plan for the success, security and growth potential of each client.