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Group Consolidation Services
A large medical group has many
advantages over numerous
individual practices.
The realities of today’s medical landscape can be somewhat daunting. Sandwiched between decreasing reimbursement from insurance carriers and increasing expenses, particularly for malpractice insurance, today’s physicians are finding it harder and harder to successfully administer their practice. One solution to this troubling equation is group consolidation.
Large numbers of physicians working together in a cooperative manner has proven to be a successful way of mitigating some of the challenges that today’s physicians face. By aggregating into a single cohesive practice, physicians can focus more on patient care and less on the administrative burdens that they may be facing as individual practices.
Using the success of NAPA’s consolidation efforts as a model, NMSC can efficiently help medical groups progress with consolidation efforts in nearly any specialty and market. NMSC has the ability and proven knowledge to guide medical professionals through the processes and procedures of group consolidations; from feasibility studies, to project planning to governance decisions and implementation.
A large medical group, comprised of either single or multi-specialty physicians, has many advantages over numerous individual practices. NMSC’s breadth of experience can help medical groups learn how consolidation may assist them in gaining economies of scale, clinical and business best-practice exchange, increased efficiencies, specialized insurance coverages and enhanced negotiating positions with payers.
In addition, NMSC’s staff is well versed in the myriad challenges which aggregation efforts may bring to the consolidating physicians. Working in concert with the participating physicians, NMSC can help create a structure which satisfies the concerns of those involved. NMSC can help ensure that all operational, clinical and governance issues can be resolved in an equitable manner, leading to greater acceptance and cohesion of the individual practices into one unit.
Upon consolidation into a single large entity, the new group will be afforded significant incentives to align with NMSC to satisfy its management needs; from low-cost contracts for billing and collection services – to full service practice management portfolios – to discounted fees for the purchase of a Cell in PRASEC, NMSC can assist the new practice to satisfy all its non-clinical and business needs.