September 8, 2008

At Anesthesia Business Consultants, LLC (ABC) we don’t want to limit your access to Management Support Services because you are satisfied with your current billing solution. That is why we offer barrier-free access to our Management Support Services to all practices, regardless of your ability or desire to transition your billing to ABC.

The Management Support arm of ABC is devoted to offering clients a full range of accounting, financial, contract support, strategic, compliance, managed care contracting, and billing oversight services to complement your revenue cycle management. We are very fortunate to have Jill Thompson, CPA, leading a team of tenured MBA and CPA professionals to bring these services to you.

A comprehensive outline of the new services is included below. Jill and her team are available to answer any questions that you may have and to provide you with additional information about these new services.

Accounting Services:

• Establish accounting system and chart of accounts.
• Reconcile bank accounts.
• Prepare monthly financial statements. 
• Account for fringe benefits.
• Prepare annual operating budgets; static and dynamic.
• Perform cash flow projections.
• Coordinate outside audits/reviews.
• Process all accounts payable.
• Coordinate payroll processing.
• Prepare W-2s, 1099s and 941s.
• Prepare tax package and coordinate preparation of State/Federal tax returns.

Financial Management Services:

• Prepare annual project calendar.
• Coordinate and attend corporate meetings.
• Prepare corporate meeting minutes.
• Review and present financial statements and comparatives to management.
• Review current financial reports and make recommendations for improvements.
• Assist in coordinating non-clinical practice business affairs.
• Provide current knowledge of governmental regulations, competition, economic changes, and other outside influences affecting Client.
• Assist with Client financial planning.
• Provide statistical and financial analyses as required.
• Advise on Client cash flow management.
• Perform annual insurance reviews and solicit bids from brokers.
• Advise on expense reduction strategies and revenue optimization strategies.
• Assist in the design and administration of benefit programs.
• Support, develop and mentor Client’s office staff as required.

Contract Review, Analysis & Negotiation Support Services:

• Provide business advice on contracts and business opportunities including but not limited to:
  • Hospital and other facility contracts including stipend verification studies
  • Physician contractual arrangements including deferred compensation agreements
  • CRNA contractual arrangements
  • Independent contractor/locum arrangements
  • Stock redemption agreements
  • Joint venture arrangements
• Assist in performing analyses required to negotiate contractual arrangements.
• Assist in contract negotiation/strategy sessions.

Strategic Planning Services:

• Lead/organize/facilitate strategic planning sessions.
• Perform financial feasibility studies and advise on practice expansion opportunities.
• Assist with personnel recruitment.
• Periodically review governance structure and modify as required.
• Develop response to RFP’s.
• Conduct periodic compensation/benefits assessments.

Compliance Services:

• Install and periodically update Client’s compliance plan.
• Conduct periodic reviews of Client’s coding including any supporting documentation.
• Conduct periodic reviews of Client’s charge capture document design.
• Conduct compliance-specific education for Client’s providers and billing staff.

Managed Care Contracting Services:

• Review existing and proposed third party payer agreements.
• Provide business advice on financial, strategic and administrative aspects of payer agreements.
• Perform the analysis required to negotiate the contractual arrangements.
• Assist in contract negotiation and strategy sessions.
• Review final contract language to ensure terms are consistent with negotiation terms.
• Review, advise, and develop managed care contracting strategy(s).
• Provide benchmarking.

Billing Review and Oversight Services:

• Review standard monthly billing reports and provide recommendations for improvements.
• Monitor and report collection agency performance.
• Periodically review fee schedule and make recommendations for appropriate changes.
• Provide extended A/R analysis as recommended/required.
• Review and present results of the billing operations to management.