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Practice & Billing Management
Proper practice and billing management are essential to promoting the growth and stability of your healthcare facility. These include ensuring operational efficiency and transitioning to a better billing and funding model in order to secure the long-term financial health of your practice.
MedPros offers unique practice and billing management solutions to healthcare providers looking to improve operational efficiency and streamline the billing process. We work to enable a smooth transition to a new, integrated management system without disrupting existing patient care delivery.
Family Health Organization (FHO) Model
The Family Health Organization (FHO) model is the latest standard in medical practice management. A single FHO unit can be composed of at least 3 doctors who can even work out of multiple locations but collaborate to provide leading healthcare to patients. The FHO model uses a hybrid billing system which combines salaried capitation payments with a variable income stream. For doctors, the FHO model provides income security regardless of the ever-changing number of patients that walks through the doors of their clinic; for patients, this integrated model of healthcare delivery means improved access to the medical care they need.
Why Transition to the FHO Model?
Since its development, countless doctors have made the switch to this streamlined funding and billing model. The FHO model has proven to provide medical practices with great benefits in terms of practice management, in particular, increased flexibility and income. With these benefits, countless doctors have since transitioned from the fee-for-service model to the FHO and now enjoy a more steady and predictable revenue stream.
Key benefits of the FHO practice and billing management model include:
Improved work-life balance due to shared on-call responsibilities and options to delegate treatments to allied health practitioners
Steady, predictable income stream as a result of capitation payments, with opportunities for Access Bonus payouts
Paid vacations for clinic staff, which boost team morale, wellness, and productivity
Financial and operational security in the event of a disability
Financial incentives for providing broad-based, comprehensive, and preventative healthcare treatments
Improved financial and operational performance of the practice overall.
Is the FHO model right for your practice?
MedPros works with doctors looking to transition to a better practice and billing management system. Our goal is to make the transition as smooth as possible in order to avoid disruptions to patient care while promoting increased efficiency and a steady income stream.
At the onset of the transition, we've helped doctors realize increased average income by up to 18%. With our ongoing support, you can increase this baseline statistic and continuously benefit from income predictability and management flexibility.
Practice and Billing Management Transition Services
MedPros begins the transition process with an analysis of your current practice, as well as a projection of the expected income stream and operational efficiency following the transition to the FHO model. Throughout this process, our consultants also strive to educate you on the differences between medical billing models and illustrate how the FHO model impacts patient care and financial stability and promotes continuous growth.
Understand the critical elements for a successful transition to the FHO model
Know the difference between medical billing systems and the unique advantages of the FHO model
Understand the importance of effective patient roster management and how the FHO model enables this
Unlock and strategically earn available premiums, bonuses, and other financial benefits under the FHO model.
MedPros has helped hundreds of practices transition from various management and billing systems to the FHO model. Our consultants are happy to provide practical in-person presentations that clearly demonstrate how the FHO model works, as well as how medical practices can benefit from a seamless transition to this smart new system. These presentations provide medical practitioners with complete information regarding the FHO model, the steps involved in the transition, as well as what doctors and allied healthcare staff can expect before and after the switch.
We also offer ongoing support and consulting services to ease the entire practice into the new system and ensure maximum operational efficiency throughout the adjustment period. Our goal is to help you optimize your practice and earn increased income that guarantees the financial health of your clinic, so you can continue to provide excellent patient care and generate innovations that impact the lives of countless patients who walk through the doors of your clinic.
For more information on practice and billing management services and transitioning to the FHO model, call MedPros at 416-479-0077 or contact us here.