Common Challenges with Physician Practice Group Mergers & Acquisitions
Strategies for Success
For practice groups planning a merger or acquisition, there are numerous challenges that can delay the process. Maintaining current Practice Management (PM) systems, deciding on how funds will get distributed and staffing decisions are just a few examples. ReMedics specializes in correcting many of these challenges while minimizing the risk to cash flow. The result is a much smoother and successful transition for staff and owners.
M&A Concerns Addressed by ReMedics
- Maintaining Practice Group Autonomy
- Billing under a single Tax ID/EIN
- Multiple PM Systems/Data Silos & Clearinghouses
- Multiple Banking & Lockbox relationships
- Distributed processing, funds distribution and transfer processes
- Oversite of day-to-day operations (including staffing decisions)
- Accurate reporting by business unit, location, insurance payers, etc.
- Delays in billing & revenue streams
Multiple PM/EMR platforms and M&A Strategies
ReMedics outsourced payment processing from multiple PM/EMR platforms, clearinghouses and lockboxes can save a considerable amount of time and implementation costs with merging two or more practice groups. Utilizing one or several lockboxes for capturing EOBs, claims & correspondence, our workflow technologies allow us to efficiently process and reconcile all your remittance. Individual accounts are electronically maintained and appropriate funds are applied to each business unit and to the patient account.
Contact ReMedics
If you’re considering a merger or acquisition and want to discuss our revenue cycle services, Contact ReMedics to schedule a free Cost Benefit/ROI Analysis. We can help you to develop a plan and maintain cash flow!