INTERNAL MEDICINE PRACTICE — INCOME UP BY 385%

SITUATION

A husband and wife team was struggling to run their internal medicine practice. Situated in a low-traffic area in a southeastern town with a population under 7,000, the practice was run by the physician’s wife, a doctor of pharmacy.

The physician and his wife were stressed and discouraged. The practice lacked financial and operational systems to support growth. The staff was confused and frustrated and the physician and his wife were not sure whether their practice would survive long term. That’s when they turned to DoctorsManagement.

RESULTS

After only five months, the practice was greatly improved. Patient volume was up by 40% and increasing by 25% new patients each month.

After three years, the practice employs a physician’s assistant and a nurse practitioner and offers five ancillary services. The staff is focused and confident. Patient volume continues to grow, the practice is performing in the 90% percentile compared to peers, and the physician’s income is up by 385%.

The husband and wife now run a thriving private practice. They also enjoy a healthy work-life balance and worry- free vacations.

 

RESULTS RECAP

  • Physician income – increased by 385%
  • Practice performance – from 35th to 90th Percentile
  • Providers – added 2 Non- physician providers
  • Facility – from 1800 to 3300 square feet
  • Systems – scalable to support growth
  • Patient volume – steady, rapid growth
  • Culture – from stressed to empowered

HOW WE DID IT

DM SERVICES UTILIZED

  • Senior Management Consultant
  • Coding and Documentation Audit
  • HR Management Services
  • Provider Credentialing
  • PowerBuying

* National Society of Certified Healthcare Business Consultants Annual Statistics Report