SMA has partnered with The Coker Group to offer its members the most comprehensive array of practice management resources available. The Coker Group is a leading management consulting firm specializing in strategic solutions for businesses within the healthcare industry. Their expertise in strategy, financial advisory, and technology problem-solving is unparalleled. For over 20 years, they have brought their clients the best in service, support, and results.
Healthcare Strategic Planning
In today’s changing environment, short- and long-term planning is needed for any business to grow and remain successful. An objective approach to incorporating changes for growth and prosperity through business and strategic plans, Coker’s strategic planning services include feasibility studies, educational programs, and financial analysis. We have worked with many hospitals and physician groups in such analysis, providing step-by-step guidance in both formulating a strategic plan and the implementation of necessary changes and plans.
Group Mergers and Formations
Group mergers are becoming more and more common in the healthcare industry. The desires to reach economy of scale, leverage with payers, and achieve call coverage are often the motivators behind physicians joining forces in practice. Coker provides our clients with a wide array of services in this area, beginning with determining whether a merger is feasible, and if it will ultimately be successful. During a merger, Coker consultants assist with compensation analysis, building the infrastructure of the newly formed group, and providing interim management assistance, if needed.
Practice Operational Assessments
In this critical process, our consultants use every available resource, from staff interviews to comprehensive data collection, to assess your practice’s operational and financial status, establishing areas in need of improvement and restructuring. Many of our consultants have strong backgrounds in practice management and are well-equipped to assess a practice from front desk operations to financial management.
Revenue Cycle Analysis
Coker consultants are here to help you perform a complete assessment of your revenue cycle, reviewing all functions of your billing office and accounts receivable department and scanning for areas needing improvement and restructuring.
Coding and Compliance
One of the most crucial areas of medical practice management is coding and compliance. Accurate coding and regulatory compliance begins at the front desk and continues throughout the patient encounter. The front desk staff members are responsible for entering patient information into the practice management system, and the physician is ultimately responsible for documenting the services performed and using the correct codes to attain proper reimbursement. A weakness in the system can expose the practice to risks of non-compliance that can be troublesome and consequential. Coker offers a comprehensive list of services designed to help practices remain compliant with myriad regulatory guidelines. Among Coker’s coding and compliance services are:
Chart auditing services to compare physicians’ documentation with guideline requirements
Revenue analysis to review coding patterns
ICD9 and CPT coding workshops for physicians’ office staff
HIPAA assistance
Compliance plan development
Compliance plan training sessions
Start-Up Assistance
For many physicians, starting a practice can be a seemingly insurmountable task. Medical school and clinical training does not always prepare physicians to be business owners or for the operational and financial challenges that lie ahead.
Coker’s consulting staff offers skill and experience in a wide variety of service areas to assist physicians and practice managers in the early stages of starting a medical practice, including:
Feasibility and Demographic Analysis
Providing pro forma income and cash flow statements
Banking negotiations for start-up financing
Forming plans and timelines
Policy and procedure compilation and implementation
Insurance contracting and negotiation
Staff hiring and training
Fee Schedule Analysis
When it comes time to look at the viability of your fee schedules, The Coker Group has the knowledge and experience to assess and improve the current structure, helping you discover opportunities for enhancing revenue recognition.
Financial Analysis
Don’t ignore this important detail! All to often, physicians and practice managers rely on accountants to manage the finances of the practice. While these professionals can be a huge asset to any practice, Coker’s healthcare-specific knowledge of finance and accounting is a crucial tool for helping you understand, manage, and correctly present comprehensive and accurate financial statements.
Employee and Physician Compensation Planning
In an environment where reimbursement is decreasing and practice expenses are increasing, increases to employee salaries can be difficult to maintain. Coker can assist in the review of employee and physician salaries and assist with alternative programs such as incentive plans.
Contracting/Reimbursement Analyses
The number of contracts involved in maintaining a successful practice can be overwhelming. Our experienced consultants comprise the perfect team to review your payer agreements and negotiate on your behalf where possible.
Interim Management
Most of our consultants come from highly successful careers in practice management. Each one has the knowledge and on-the-job experience to guide any practice through a transitional period.
Training, Publishing, and Education
The Coker Group offers a variety of opportunities in health care training and education for organizations. For a list of current programs, visit www.cokergroup.com.
SMA Online Resources
SMAtips: From coding nuggets to money management to patient education, SMAtips provides an array of information in one strategic location.
Checklists: checklists which can be used by you, your staff and patients
CMS Resources: important information from National Provider Identifier to Physicians’ Quality Reporting Initiative and more, from the Centers for Medicare and Medicaid Services.
Contact Information
Southern Medical Assocation
Kathy McLendon
Email: kmclendon@sma.org
Local: 205-945-1840 ext. 144
Long Distance: 800-423-4992 ext. 144
The Coker Group
Kay B. Stanley, FACMPE
Email: kaystanley@cokergroup.com
1000 Mansell Exchange West
Suite 310
Alpharetta, Georgia 30022
Local: 678.832.2000
Long Distance: 800.345.5829
Fax: 678.832.2016
