Practice Management Consultation - whether you are a startup or an established practice, you can probably benefit from management consultation provided by Rea & Associates. From organizational issues, staffing, and site selection to revenue enhancement, patient satisfaction measurement to program evaluation, Rea & Associates covers the waterfront.
Staffing Analysis - in a changing environment, assistance is provided in determining staff size and composition, the number of supportable physicians, and physician reimbursement rates, all geared to creating an organizational structure made for survival.
Organizational Development - In addition to staff, it is important for today’s practice to carefully consider the services to be offered, the type of facility and equipment needed, and the number of locations among other considerations.
Strategic Planning - although strategic planning is considered by some a cumbersome and expensive process without tangible results, it doesn’t have to be. Rea & Associates has developed quick-strike capabilities that allow for rapid turnaround of planning studies and expeditious plan development. The planning process can be extremely complex if that is desired and necessary, but Rea & Associates professionals can provide rapid turnaround for most strategic planning initiatives.
Practice Valuation & Appraisal - in today’s extremely competitive environment medical practices are subjected to consolidation, restructuring and, increasingly, purchase offers. If you don’t know what your practice is worth you are at a disadvantage. Rea & Associates has extensive experience in determining the value of a medical practice, allowing you to negotiate from a position of strength.
Market Research - for medical practices the days of “build it and they will come” are long gone. Physician groups must position themselves vis-à-vis the market. This means knowing where the patients are, what they needs are, and what types of services are in demand. It also means knowing something about your competitors. Rea & Associates knows the Memphis and Mid-South better than anyone else and can provide support for site selection, practice expansion and marketing planning.
Physician Financial Services - with tighter margins, greater competition and a changing reimbursement environment, physician practices need to understand their financial position more than ever. An appropriate fee structure, a favorable payor mix, and the ability to wring the most possible out of billing and collections will make the difference between success and failure. Rea & Associates has helped numerous practices get on sound financial footing and position themselves to take advantage of opportunities in the market.